Working with Renters as a Real Estate Agent
Although real estate agents are largely preferred by clients who are in the market to sell or buy homes and buildings, did you know that there is also a rather large opportunity to work with those who are seeking rentals. Although using a real estate agent for apartment searching may not be a necessity for everybody, for many who are faced with specific or unique challenges when hunting, a real estate agent may come in handy.
How to Market Yourself to Renters
If working with renters is something that you are potentially interested in, it is worth noting that there will be specific demographics of renters that you’ll want to market yourself to. Most likely, renters who have the capability to hop online and search apartment listings in their area and schedule/attend showings will have little need for a real estate agent.
Instead, you’ll most likely have success with individuals who fall into one of the following categories.
Those who have little to no time
It’s no secret that apartment hunting is an incredibly time consuming and strenuous process. For many who have wildly busy lives, it is not feasible to schedule and maintain several showings per week for several weeks on end, which is typically required for finding the perfect place.
Instead of spending time they don’t have or potentially choosing an apartment with hidden imperfections, many people will opt to work with an agent.
Those renting in a competitive market
For those who live in cities with incredibly competitive housing markets, such as New York or L.A, finding a good apartment can often be an impossible task. For this reason, many people opt to instead work with real estate agents or brokers. Although there are extra fees, this is often worth it for the amount of work and time they will be saving themselves.
If you happen to live and work in or even near a larger city with a growing population, it may be worth considering advertising yourself to the renting demographic. As an agent, you’ll already have connections and insight into the area that will make finding “needle in a haystack” apartments for clients a breeze.
Those who are new to the area
The third group of renters who will most likely seek help from an agent are those who are moving from somewhere far away and are completely new to the area. Although it is preferred to tour an apartment in person before renting, for those who are moving across the country or even across the globe, this may not be possible. Instead, people will often hire agents and brokers that they can trust to set them up with a nice unit.
People who are able to physically tour, but who may not be familiar with certain neighborhoods may also opt to hire an agent who is well versed on the safety, transportation, and convenience of the city layout in general.
Although working with those who rent may not be something you can make a successful and lucrative career off of, it is nevertheless still a great opportunity to get some extra work and income with projects that will take much less time and hassle.
