Would you like to expand your real estate education into working with real estate tenants? If so, the first step you need to understand is how tenants can benefit from your services. After all, tenants have the option of finding their own rental homes or apartments. Here’s why the tenants’ motivations matter and the typical reasons they hire real estate agents.
Know Why It Matters
Focusing on the tenants’ reasons sets you on the path to providing helpful services and working with real estate tenants more often. You gain more tenant customers because you can show them specifically how you can assist them and bring them better results.
Throughout the Roadmap to Success courses, you can discover why service to your clients is a foundation of real estate success. This is true of the way you interact with them and the real estate services you engage in for them. But how do you know how to help them?
Identifying these benefits for tenants starts with your real estate agent training, both your initial real estate school and continuing education. Online courses such as Roadmap to Success Tenants outline why tenants can benefit from hiring you. Then, you know what they need and want from you – why they come to you – you know what services to provide.
How Real Estate Agents’ Services Benefit Tenants
So, when you explain your services and benefits for real estate tenants, what will you include? The following are some of the ways you can serve tenants. Then, with excellent real estate training, you can provide these services competently.
Save Tenants’ Time and Effort
When working with real estate tenants, you can offer them incredible savings of effort and time. When tenants realize all the steps involved in finding the ideal home, they may worry that it will make their lives extremely difficult. You can relieve them of this stress by explaining to them all the different parts of the process that you can handle for them. In addition, you can remind them that your expertise and local real estate market knowledge save time and effort for everyone automatically.
Zero in on the Ideal Home
One of the best realtor skills you will learn during your ongoing real estate education is the skill of matching tenants to their ideal homes. As soon as you meet them, you can start getting to know them. When you are more familiar with their lifestyle, needs, wants, and goals, you can more easily recognize which homes would satisfy them. Combined with your other benefits, this insight into your tenants’ preferences puts you in the best position to help them find a rental home.
Provide Access to More Property Options
Tenants who don’t use real estate agents have only a few options for finding a rental home or apartment that fits their criteria. They can look for rental units publicly displayed online. If they are lucky enough to know a landlord, they may find a home that way.
However, as a realtor, you have access to options that they don’t. For instance, you can show them homes that are not on the MLS or listed anywhere that is open or obvious to them. You may have a list of FRBO properties. Your insider knowledge can expand their choices more than they ever imagined.
Negotiate for The Tenant
Not all renters understand that the listing price of a rental property is not necessarily set in stone. Therefore, when working with real estate tenants, you may need to explain how this works. Explain that you can negotiate with the landlord to get you a better monthly rental price and possibly reduce deposits and fees. Besides that, you may gain the landlord’s approval in cases where the tenant has challenges, such as a poor credit rating. Plus, real estate agents can help them get different terms than listed in the standard lease.
Guide Them Through Rental Agreements
Rental agreements vary by state and landlord. During your real estate agent training, you should learn everything you need to know about this aspect of working with real estate tenants. Also, you can describe what the rental agreement commits them to and the rights it affords them. Then, they can make an informed decision about whether to sign it. Importantly, they can enjoy a better relationship with their landlord by following the agreement if they choose to rent the home.
Know the Area
Your experiences as a realtor are constantly building as you go about your daily real estate activities. One thing you gain expertise in is the local real estate market. This information will prove handy as you fill them in on various neighborhoods. You can connect them with local vendors and let them know what services and amenities are available in the areas they are considering.
Working with real estate tenants can be extremely rewarding for you, but it can also bring abundant benefits for the tenant. By recognizing the value you offer them, you can gain more rental clients. Then, you can serve them so well that they come back to you the next time they move. Even better, they refer their friends and family to you. You get more clients, your satisfaction increases, and your business thrives.