An often overlooked way to find buyers

It was only last September when I started in Real Estate and I had no idea what to expect or how I was going to find clients. I knew the market was competitive with over 5,000 licensed Realtors in our respective area and this was overwhelming! This might be how you’re feeling right now. However, I found a great way to get in front of a lot of people and gather names. Showing rentals. I know it’s not sexy or that lucrative but rentals are an excellent way to find future buyer clients. Keep in mind not every rental prospect will be worth your time. You have to qualify them just like any other client because most of them are looking at dozens of properties and sending their information out willy nilly and don’t remember every single one. Don’t be afraid to ask questions. Ask them what their long term plans are and if they’ve considered buying. The higher the rental price, the more likely they might buy in the future. The number I typically see more success with rentals is around $1200/month or greater here in Charleston.

So here is what you do. Go talk to any of the busier agents in your company who have owners trying to rent their properties. Volunteer to be the leasing agent and have any calls or emails forwarded to you so you can set up the showings. Here’s a tip: try to coordinate group showings so you don’t have to drive back and forth multiple times per week. This is a mistake I made and it cost me a lot of time and gas. Another thing to keep in mind: If you’re responding to a potential renter, leave them a message or email asking to confirm the day of the appointment. When it comes to renters, there could be a lot of no shows. If you do not have at least 1 person return your message confirming the showing, don’t waste your time driving to the property.

Even if they’re not interested in your particular property, talk to them and offer to send them other options. What I’ve found is that qualified people usually have options such as choosing to rent now and buy later on. KEEP IN CONTACT WITH THEM.

PS: every lead that comes through via email put into a spreadsheet to keep track of them. You can use these leads and market to them later

Keep in mind this is just ONE way to dig in and hit the ground running. This will get you used to doing showings and get comfortable talking in front of clients about a property. It will also enable you to find your own unique style. I could go into more depth about the showing process but right now the most important thing is to put yourself out there and take action.