Today was a first for me. I had the opportunity to take out a very pleasant couple to look for rental house. They currently own two homes in Florida and are renting both. They also own a home in Chicago that is currently occupied by their son. In order to move to Cary or Raleigh at the end of their lease, they will have to sell both homes in Florida. Probably unlikely.
We spent four hours today previewing five homes. They are going to make an offer on one of the five, complete an application and occupy a rental for the next three years while they wait for his retiirement and the impending pension. There are several points to negotiate in the rental lease and I will follow through and assure them of their representation throughout. The best part is the $50-$200 fee I will earn.
O.K., that was said tongue-in-cheek. Given the cost of gas and the time invested, these rental deals are not very rewarding. I suppose if you convert every one of the prospects into renters, it might pay off, but anything less than an 80% conversion rate and you're probably working for free. Ah yes, the things we do to try to set the table and turn prospects into buyers. Nonetheless, this very nice couple will receive the same attention that I would give to any other client, PLUS receive an item of value, phone call, letter, etc. every month. What comes around, goes around.
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