An undisclosed secret that helps new realtors gain clients

New realtors, having trouble finding clients and doing business? It can be quite a challenge to establish themselves as a local expert in real estate—especially when you’re competing against seasoned professionals. One often overlooked way to gain experience and insight into a local real estate market is to help renters seeking new apartments. If you’re a real estate agent who would like to haul in clients within your local space, consider the long-term benefits of providing this service while you’re getting started.

 

Experience:

The gift that keeps on giving: Many real estate professionals get business through referrals from past clients. They also get business through positive reviews online. The more positive reviews online, the easier it is for them to find new clients. The more transactions they complete, the more likely they are to be seen as someone a buyer or seller would like to work with.

New agents do not have old clients who can make referrals and leave positive reviews. Thus, new agents have their work cut out for them. For a person who is trying to find his foot in the field, potential clients can be scarce. Potential clients will often like to see that their agent has a good amount of experience, but to get that experience, an agent has to work with more clients.

Helping Renters increase your client pool: Many renters need help almost as much as buyers. Experienced real estate professionals often turn away from this work because it’s less profitable. This leaves a large fraction of renters either looking for an apartment on their own or struggling to find a real estate professional who can help. A real estate agent who is willing to help a renter in need is likely to turn them into a loyal and happy client. When the time comes, and more often that not, this time will come, when they want to buy a home, this client may return to their original real estate agent—the one who helped them find an apartment and helped them understand the area.

 

Pros of helping a resident

 

Absorb and scale up as an Expert
Realtors who help renters will see neighbourhoods of all types across a wide variety of locations. As they traverse from one rental property to another, real estate professionals learn to navigate the market where they work and identify the trends in each neighbourhood. In these interactions with renters, real estate professionals also learn how to help clients in various stages of choosing a place to live. The more they interact with clients, the easier it will be to help clients in the future. By gaining local knowledge and insight, agents can self-assuredly engage with potential buyers and sellers. They can present data and stories they have accumulated throughout their apartment-finding journey.

 

Make Contacts

When people find that one real estate agent they like and trust, they may decide to return to that real estate agent over and over again. The agent that helps them find an apartment or rental home one year may be the real estate agent that helps them buy a piece of land or home the following year. Not all renters will want to buy a home in the future, but many will. Some may currently want to buy, but are new in town and would like to test out different areas before making that kind of commitment.

 

Gain new insights and expertise

Helping renters find an apartment is an excellent skill that is movable to many different markets. Real estate professionals who want to have as many skills as possible can start with renting and move on up from there. You’ve got nothing to lose from accumulating a vast array of knowledge as a real estate agent. Over time, as more clients turn from renters into buyers, some agents may choose to transition to exclusively working with home buyers and sellers. Others may even choose to work with investors since they’ll understand what renters in the area are looking for and what kinds of properties/areas are popular.

 

To put this into perspective and commence:

• Get to know landlords/property managers: Real estate professionals who know the apartment managers and landlords in their area can introduce renters to new properties as they become available.
• Encourage renters to leave feedback: Once a renter has found a home that they’re happy with, encourage them to leave feedback on your website.
• Partner and stay in touch with other real estate agents: Networking is another way that many real estate professionals grow their business; by getting to know other professionals they become more visible in their market.
• Recommend referrals: Real estate professionals can ask clients to refer friends and family if they are happy with the service they provided.
• Become acquainted with leases: Real estate agents who understand the leases that renters must sign can be a greater help to their clients.
• Put in the work: What you get out of real estate is heavily dependent on what you put in.

 

There are no short cuts to starting a career as a real estate professional. With persistence, assiduousness and some imagination, agents/realtors can assert themselves as one of the go-to experts in their market. If you’re a real estate agent hoping to gain experience and recognition, consider helping renters. You may be pleasantly surprised by how rapidly your business can grow and thrive.