Why Show Rental Property? Here's Why.....

Reblogger Gail C. Harris
Real Estate Agent with Resource Network, LLC SFR, AHWD, ACRE, SMAR Board Director

I actually live in a resort town where rentals are a mainstay. I do rentals because I turn around and sell my clients a home. All but two of my sales was a result of forming a relationship through a rental. I am now listing rentals and having the time of my life. In an area where rentals are prevelant you can make a very nice living off of rentals; I dare say it's possible to gross $10,000 per month. I'd do rentals all day long as opposed to sales. No fuss, no muss and I know my market so my renters are happy renters. It's a great short term fix for potential buyers who need to save money and who don't know the area all that well.

Original content by Carol Zingone BK 3030920

I know many Realtors who focus on either the buyer or listing side of the business, and they seem surprised when I say I still sometimes show rentals.

I only show rentals when I have time, the prospect has a clear vision/idea/timeline of what they are looking for, and they have a timeframe (not much different than when I show properties for sale).

I recently showed two prospects rental properties, so this is a Tale Of Two Rentals.

  • Rental 1: she had relocated, he was heading this way as soon as the house out of state sold.  We looked at a handful, they knew what they wanted.  We had found what they wanted, and they were just about to get into a lease, when a home came up in the community they were about to lease in. I showed it to them Friday night, and yesterday afternoon, we wrote an offer.
  • Rental 2: they were unfamiliar with the area, and I showed them a few weeks ago; they liked the second house they saw, but I wanted them to see two more just to make sure they would be happy with the house they chose.  We could not get into lease, as their demands were too much for the owner to accommodate (I blogged about this; the tenants wanted new appliances).  I thought we were going back out again, they emailed me they had found a house that would work for the time being, but asked me to keep  in touch with them as they will be buyers in 9-10 months.

So, why do I show rentals selectively?  Because it helps me build relationships with buyer prospects and future buyer prospects! 

Carol Zingone is a full service Broker Associate proudly affiliated with Prudential Network Realty in Atlantic Beach, FL.  I help buyers and sellers locally, regionally, and internationally.  With hundreds of happy buyers and sellers over the course of my career, I'm thrilled to help first time buyers, military buyers, seniors, investors, 1031 exchange properties, short sales and REO's.  I have spent hours honing my expertise, including the designations of Certified Distressed Property Expert (CDPE), Graduate Realtor Institute (GRI), Loss Mitigation Certification (LMC) , Short Sales, Foreclosures, REO's, (SFR), and Senior Real Estate Specialist (SRES).  Recently honored as the Realtor of the Year for the Northeast Florida Association of Realtors for 2009, I pride myself on providing excellent expertise to all buyers and sellers. Search the MLS via www.carolzingone.com  for Jacksonville and area listings!

 

 

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Rainer
308,224
Jennifer Chiongbian
Specializing in all types of Manhattan apts & townhouses - Manhattan, NY
Real Estate Broker - NYC

Rentals in Manhattan are our cash cows.  They are fast turnover due to not many people being able to afford a $750,000 one bedroom.

Sep 27, 2011 04:25 AM #1
Rainmaker
1,276,294
Wallace S. Gibson, CPM
Gibson Management Group, Ltd. - Charlottesville, VA
LandlordWhisperer

More and more agents are turning to rentals; however, in most states they need to actually HAVE experience and EDUCATION in this specialty and many do not have these.  They grab a trade organization application and lease form and think they can handle leasing and management duties.

I've just dealt with a agent/FAUX property manager who thinks that the current residents' lease needs to be REwritten.....it is VALID and her ignorance has sent a bad vib to the residents.

Sep 27, 2011 04:30 AM #2
Rainmaker
791,444
Carol Zingone
Berkshire Hathaway Home Services Florida Network Realty - Jacksonville Beach, FL
Global Realtor in Jax Beach, FL - ABR, CRS, CIPS

Gail - thanks for the re-blog! Appreciate it!

Sep 27, 2011 11:06 AM #3
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Rainmaker
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Gail C. Harris

Reach the BEACH with Gail C. Harris (cell: 703.868
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