The phenomenon of short-sightedness seems to be showing itself, but why?
In recent months, I have had many a dialogue with people needing representation in their quest for a rental property.
More often than not, I’m told that the agents they have worked with – even those who have earned commissions in the past from these clients – really aren’t interested in helping them find a property because they are “just renting“, or because “I don’t do leases”, resulting in unanswered phone calls and no help.
Several inquiries a day come in to me either from listing signs, my web site, or print/internet advertising, many of which are solid prospective clients who need to find a place to lease. Remember, in these times there are an abundance of displaced people due to having been foreclosed upon, or who have had to short sell their homes.
These people often have jobs, assets, and steady income history.
They simply can’t get lending right now and their credit scores are shot. But they still are willing to pay for a nice place to live. So why should this entire demographic be cast off simply because they aren’t churning big commissions?
Some of my best clients have emerged from lease business.
I feel strongly about treating a lease prospect as I would any other prospective client, and it is greatly appreciated. And if I’m working with a client to sell their home or find them a new one down the road, why would I not help them find a temporary home in the interim? I guess I’m just amazed at the things people tell me.
Reading the attached article encapsulates the importance of this market segment. For renters, leases are becoming harder to find, putting on pressure for higher rents. For sellers who are reluctant to sell their homes now because of the depressed market, they can at least earn some significant income from good solid tenants and ride it out while taking advantage on the buying end.
The biggest point? Our business is all about helping other people achieve their goals. The more you put yourself out there to assist them, the more your word of mouth will be positive, not negative.
Don’t abandon these people…they will be buyers again someday, maybe sooner than you think. Count on it.