If a property just isn’t selling, you don’t have to play the waiting game. There’s always the option of renting it, and it can give you a chance to regroup. Learn how Realtors benefit from referrals to management companies, and whether it’s the best solution for your clients.
You can call them “reluctant sellers,” but usually, the homeowners are plenty motivated to sell—the market just isn’t cooperating. They might be getting such low offers that it’s not worth it for them to sell. Or maybe the timing is wrong and they need to leave town before you can finalize a deal. Whatever the case, if you refer them to a property management company with a solid reputation, you can all take a breather and make some money. The upsides include:
Happy Clients
When a property is vacant, the sellers are paying for two properties and can get in over their heads quickly. They might not expect their Realtor to suggest renting, but it’s one way the property can pay the bills. The right management company can take care of everything for them: getting the unit ready, finding tenants, collecting the rent, keeping up on maintenance, and more. In the meantime, the owners can wait until the right time to put the unit back into the Realtor’s hands and sell.
Referral Fees
Realtors put in a ton of time and work into their listings, but when a sale isn’t happening, it’s not happening. Setting your clients up with a great management company can earn you a substantial fee and ensure that the owners are getting a fair deal—maybe even a discount. All you have to do is find managers that you can trust to take care of the property as if it were their own.
New Relationships
Recommending that your clients rent out the place is a way to hold onto and even build your relationship with them. Instead of commiserating with them about the lack of sales success, or even getting replaced with another Realtor, you’re providing them with a profitable solution. At the same time, you’re building a relationship with the management company that can offer long-term benefits for your career.
If you think that residential property management services in the Orlando area could be a win-win situation, contact R. Russell Properties – 407-636-6494. We can give you more information on how Realtors benefit from referrals to management companies. Take advantage of our expertise and end-to-end services, and everyone can reap the rewards.
