Rental Leads can turn into big $$

By
Real Estate Agent with Call Realty

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?

Comments (2)

Anne Hensel
South Beaches Real Estate Professionals - Saint Petersburg, FL
Realtor - Broker - St. Pete Beach, Treasure Island
I stayed away from rentals for the longest time (do not have the patiece) but our market here in Pinellas county has changed so much that now i am listing rentals for people that originally called me to sell their property, but I could never sell it for the price they wanted. so the next best thing is to help them rent it out and in a year or two from now maybe list it for sale
Jul 16, 2007 08:33 AM
David M. Childress
Howard Hanna Real Estate Services - Akron, OH
I would love to be your Realtor® in Akron Ohio!

This has recently happened to me because of the market and my seller was bleeding to death with 2 payments or bridge loans. Now, after a long listing time on the market, I bring this up first and they are pleasantly surprised at the logic. (And they all thought we were in it for just money) I then have satisfied clients that tell their friends and family about this great agent that saved them stress and money. That's good enough for me! I usually charge 10% of the first years rental or one months rent, which works out @ the same. Anyone, can you please tell me if this is standard or what do you charge the seller? Regards, DavidC

Jul 16, 2007 02:51 PM