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Property Management Referral Fees??

By
Real Estate Agent with Sierra Vista Realty BR583095000

brad snyderI manage about 100 single family homes in Southern Arizona and have grown from about forty a year and a half ago. My goal a year and a half ago  was to be at 200 in two years. I have made progress with word of mouth and online marketing however I am not gaining the ground I had hoped.

How are you growing your property management portfolio?

Do any of you offer agent referrals and do they work?

What advertising has brought you the best results?

Thanks for your ideas.

Brad Snyder
Sierra Vista Realty
www.BradSnyder.com

Peggy Chirico
Prudential CT Realty - Manchester, CT
REALTOR® 860-748-8900, Hartford & Tolland County Real Estate

Hi - I am a real estate agent but I know a great property manager.  I refer him whenever anyone asks in our office of 50+ agents.  So I would suggest connecting with agents for new business.  Most agents don't want to handle rentals or all the things that go along with managing a property, but they want to maintain good relationships with their clients who may want to sell in the future. So a property manager is a great resource for us to have.  Good luck.

And by the way no referral fees here - I just hope for good referrals in return!

Mar 05, 2010 11:56 PM
Leslie Prest
Leslie Prest, Prest Realty, Sales and Rentals in Payson, AZ - Payson, AZ
Owner, Assoc. Broker, Prest Realty, Payson,

we get Owners mostly from two sources, our web site and referrals from other agents/offices. The web site comes up very well in searches, and Owners comment on it a lot when they talk to us. The other offices refer to us because e take good care of the clients, and NO we don't pay referrals.

Mar 06, 2010 02:47 AM
Wallace S. Gibson, CPM
Gibson Management Group, Ltd. - Charlottesville, VA
LandlordWhisperer

Realtor referral fees are a double edge sword * if you want to be "selective" geographically and by the QUALITY of property, it is HARD to say NO to a Realtor referred property owner.

You would be better served to save that $$$ and direct/target market to absentee landlords in areas where you actualy WANT properties!!!

Mar 06, 2010 05:40 AM
Tony Sena
Shelter Realty, Inc - Henderson, NV
Broker/Property Manager

Brad,

I suggest building your web presence.  I started my property management business in May 2009 and I now have over 100 accounts and over 90% of the accounts came from my website.

First thing I would do is get rid of your a la mode site and build either a custom site or go with a wordpress theme.  My site, http://www.propertymanagementlasvegas.com is a wordpress site using a custom theme.  Once you get going, your website could be a great source of business.

Mar 06, 2010 04:20 PM
Brad Snyder
Sierra Vista Realty - Sierra Vista, AZ

Thanks Peggie, Leslie, Wallace and Tony for your feedback.

Tony.... I will look into the wordpress sites. What do you think makes it better than alamode websites?

Mar 07, 2010 01:21 AM
Wallace S. Gibson, CPM
Gibson Management Group, Ltd. - Charlottesville, VA
LandlordWhisperer

Congratulations....Your post is now Featured in the Property Mangement group!

Mar 07, 2010 08:58 AM
Tony Sena
Shelter Realty, Inc - Henderson, NV
Broker/Property Manager

Brad,

Click on the link, http://www.blogtrafficexchange.com/why-is-wordpress-the-best-blogging-platform this explains why WordPress is a great platform.  WordPress allows you to do so much and the best part is you don't need a webmaster as you can do it all yourself and you own it.  You don't own your alamode site.

Mar 07, 2010 05:07 PM
Anonymous
Laurie pinon

Hi 

I have been managing my own properties for over 20 years.  Recently a real estate broker has asked me to start up a Property Rentals dept in his company.  I got a call from a mortgage person( referred from the Real Estate Co that I work with) asking me to find a rental property for a family.  I have no inventory being that I just started.  What is the best way of tackeling this situation.  Can I just get on a rental website and look for a house for them?  How does that work? Who pays me? Would I just pass it on to the other company that placed the ad? Help!

 

Jan 12, 2012 11:26 AM
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