Initially, it might not seem like building relationships with renters is a good use of an agent’s time. The payout amount isn’t as substantial, the process isn’t as satisfying for the client, and all around, it’s just not as exciting as working with buyers and sellers. While, to many agents, it seems that the cons outweigh the pros, working with renters could procure the following major (and profitable) benefits.
Quick turnaround time
The renter process often doesn’t take as much time as the buying and selling process, putting money in your pocket faster. Additionally, it makes for a very satisfied client when the process of applying and moving into a temporary home goes quickly and smoothly. Going through a quick process with a renter could also be a great way for an entry-level agent to get their feet wet as they practice training and techniques such as those Lokation offers.
More steady revenue stream
This one is kind of a no-brainer. People tend to rent homes more often than they buy and sell them. This high turnover rate can help agents have a more steady stream of revenue in between working with buyers and sellers.
Create future leads
Statistics show that someday, renters will likely turn into buyers. And when they do, you could easily be the person they call to help them buy. In helping a renter find a temporary place to stay, prospective renters are actually paying you to establish trust and rapport with them, which could potentially turn into a sale down the line; now that’s a great return on investment. This marketing technique paired with Lokation’s lead-generating services could be an absolute game-changer.
While many brokerages shy away from assisting renters, LoKation agents take the challenge and advocate for ALL consumers and their right to HOME. We are proud to announce LoKation Real Estate is featured among the top firms in the nation for 2022 RealTrends + RentSpree Rental Power Brokers. LoKation ranks #3 for tenant representation and #5 for landlord representation. This achievement is a testament to our amazing agents who put their clients first.