When someone thinks about a real estate agent - they typically think about buying and selling homes. But, rentals have the ability to really impact an agents career. Rentals aren't as cut and dry as they might seem - especially with the low inventory the real estate market is experiencing in many places.
Add Value as an Agent
Sure, rentals won't make the commission that sales do - but they can add cushion to an agent's salary. Especially as a new agent, rentals can truly be valuable. If agents are looking to grow their sphere and get more leads rentals can be a great way to ramp up business.
Searching for the perfect rental can be very overwhelming for clients. Between the endless scrolling on rental sites and contacting landlords, etc. - clients may feel very discouraged while looking for a home to rent. An agent can be really valued here if they are able to step in and do the leg-work for their clients. While marketing oneself, be sure to mention to clients that only agents have access to the MLS and other networking systems that allows agents to see homes before they even hit the market. This edge can seriously help clients find a place to live sooner rather than later.
Ways to Grow Your Business
As mentioned above, helping clients find rentals does offer commission - just a smaller one than sales. Another way to grow your business with rentals is to get into property management. Property management is a great way for agents to have a steady stream of income during periods of slow sales.
If agents are really ambitious - they could even consider buying into apartment complexes or rental homes with clients or investors. This way, they get a piece of the pie for longer than just finding a client a rental.
Don't Sleep on Rentals
Whether it's helping a client find a rental or helping investors find rental properties - agents shouldn't sleep on rentals. Of course, keep focusing on sales as well but don't be close minded. Rentals have an ability to take an agent's career to the next level.
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