If you’ve built rentals into your business, you’re also going to be working with landlords, but don’t let your relationship with a landlord stop once you’ve helped a client sign their lease! After you’ve been able to place your client into a rental, approach their new landlord about letting you help fill vacancies. In a market as fluid as the real estate market, having a partnership with a landlord can be a highly valuable asset. Becoming a listing agent for a highly qualified landlord with a desirable property can help you weather recessions and slow seasons by providing you with a reliable stream of housing that you can offer to your leads.
Check out these reasons from Rental Beast why landlords should want to work with agents, and get ready to convey your value:
1. You can bring them most qualified applicants.
Landlords want qualified applicants to fill their vacancies. As a real estate agent with a screening process for your leads, you’ll be able to decide if an applicant is a good fit for a property before the application process begins. Make your applicant stand out by calling the landlord after your client submits their application and letting the landlord know all the reasons why this applicant is a great fit (maybe your client has a good job, a reliable co-signer, etc.) Keeping vacancies open is expensive for landlords, so explain that you can fill those vacancies with qualified candidates.
2. You can offer them knowledge about the real estate market.
You already have the knowledge you need to advise a landlord. As a dedicated and smart agent, you have your eye on local inventory and your finger on the pulse of the real estate market. This means that you can help set competitive prices for apartments.
You can also help landlords become real estate investors. When you screen potential landlords, try to figure out if they are looking to expand their portfolio or sell one of their properties. If they are, establish their wish list and offer them suggestions as to when is the best time to see or buy. You’ll be able to offer them sage advice, and if the landlord buys a new property, you can fill those units, too.
3. You can give them an easy lease signing process.
Landlords sometimes have not had much experience drafting a lease and have no desire to pay for the services of a lawyer. Similarly, many renters can be inexperienced and are unsure of how to properly read and understand a lease. Landlords want to avoid a headache, and your pre-made lease agreements that abide by state law are a huge help to them. Also, the way that you can guide tenants through the process help start the relationship between the landlord and tenant. Smooth over the process for a landlord and let them know that you’re ready to help in every aspect.
4. You can give them marketing.
Perhaps one of the most important tools a real estate agent has in their arsenal is their ability to market. You add lots of value by marketing and showing a landlord’s properties. They don’t have to waste their time online researching the million rental sites. You have access to your local MLS, as well as your own personal website where you can post their listing. Additionally, you can pick up calls for the landlord, organize showings on your time and sell the apartment’s best features. This is a huge value add for landlords, so explain it well.
Aleksia Silverman is the content strategist at Rental Beast. To learn more about the Rental Beast platform and how you can use rentals to sustainably grow your business, please visit rentalbeast.com.
I’ve also noticed that as a Lease Listing Agent, prospective clients love to tell you all about themselves. Perhaps some things they shouldn’t tell, because you are the agent and not the Landlord. I also ask Landlords to review facebook details.