Almost two months have passed since the home buyer tax credit has ended. The real estate market today is like a boat without a rudder....
Many would-be buyers can't afford to buy. Many would-be sellers can't afford to sell...
So where is the growth sector in the real estate business in this economy?
Rentals.
That is right, rentals...
I was originally hesitant. I wasn't sure the work would be worth the smaller paychecks that come from closing rentals...
I was wrong.
Just one month ago I wrote a post titled, "Every check counts. Closing my first rental."
Since that time, I have been contacted by several individuals who aren't interested in selling, but need tenants for their vacant homes...
This week I took two new rental listings:
249 N. Gregory, Aurora 6006 East Lake Drive, Lisle
I received 5 calls on those listings yesterday...
Calls from would be tenants. Calls from people who were not working with another agent. Calls from people who want to do business...
Prospects.
I have two appointments today, and one scheduled for Monday, and I just put these listings on the market a few days ago.
Incredible indeed.
Two reasons for this:
- Sellers who choose to rent rather than sell are motivated.
Vacant home can be expensive. A tenant can ease the financial burden.
The homes are priced to move. - Renters are motivated.
They need a place to live. They aren't looking at homes "just for fun".
They need a home and need one quickly. No looking for months trying to find the dream home.
Working with rentals has been refreshing. These customers want to do business. They are committed to making a deal happen...
It is about cash flow, not winning or losing. There is no ego when it comes to renting. No worrying about selling at a profit or taking a loss...
How much business will I do this year in rentals? I have no idea, however...
It is good being busy.
Ken
Are you looking to rent a home in Naperville? Call me anytime at 630-697-0536 or go to my website at www.KensFeaturedHomes.com.
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