I recently listed a rental property. It was the first time I've done this. I am amazed at how good of a lead generation tool this property became. Yes, the sign calls are for individual looking to rent, but I've been able to turn a few of these into buyers. Many individuals think that they can't buy. I ask them to at least speak with a lender before I show them any rental properties. A few have turned into buyers.
I have helped a few of these leads rent homes as well, and yes that is a very small commission check. However, I treated these renters with the same professionalism and respect as I treat my buyers. In more than one case I developed a great relationship with the client. When they are ready to buy, I'm sure I'll have an excellent opportunity to assist them.
I suppose the moral of the story is to not turn down business because it doesn't seem to be profitable enough. Does any have a good story from dealing with a rental property?
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