As a real estate agent, you probably have your own opinion on rentals, listing rentals, and completing rental transactions. It varies from agent to agent, but the general consensus boils down to: “Not really worth my time or effort.”
However, ninety percent of agents surveyed by Rental Beast closed at least two rental deals last year. Newly-licensed agents relied heavily on rentals to generate leads and establish their client base, while real estate lifers took care of rentals cropping up from within their sphere of influence.
Today’s rental clients have high expectations. Their wants and needs are more similar to first-time homebuyers than ever before. Rental prospects have detailed need and want lists—most know exactly where they want to live and what kind of features they want in a home. Savvy agents employ tools to meet these needs from day one, closing rental deals quickly, optimizing earnings, and building long-term relationships that lead to home sales. For other agents, the process can be grueling.
Rental Beast is here to give you some insight on how to make rentals works for you and how they translate into both short term and long term success.
More Deals, More Clients, More Money:
FACT: Rental commissions are lower than home sale commissions. Yet think about how long it took to complete your last home sale. In 2018, the average time to close nationally was 47 days. Unlike home sales, rentals are inherently quick to complete. They often close within a week, allowing agents to close multiple transactions within short timeframes, while getting in front of more clients. More clients means a bigger sphere of influence, leading to referrals as well as renters returning as first time home buyers.
Rentals also give you the unique opportunity to interact with landlords and property managers directly, opening additional revenue streams, like listing rentals and helping larger buildings fill vacancies.
With nearly 50% of the current population renting, agents will always find value, opportunity and leads within the rental market. Access renters as rental leads now so you can access home buyers in the future. Build your client base, supplement your income, and expand your reach and expertise. Rentals are the key.
Still not sure about rentals as a viable income supplement or client generator? Not sure how to find rental leads or close a rental deal?
Let Rental Beast show you the way! We’ve got an entire education department at your disposal, ready for all of your questions. Sign up for a no-obligation demos and see just how much you can make by using rentals.
