It’s time to learn realtor skills for working with real estate tenants. Some agents overlook a critical task in preparing the tenant for a property search. If you skip this step, you and the tenant go into the property search unprepared. That’s not the way to help the tenant, and it doesn’t help your reputation, either. Read on to find out how to get the tenant up to speed before you start looking for properties to show.
What Does the Tenant Want?
If you work with tenants for a short time, you will see that each takes a different approach. One may come to you with a long list of features they want. Another might come with no clue what they want to find in a home. Others will know what kind of place they want to lease. You need to meet the tenant where they are in the process.
Tenants Who Know Exactly What They Want
When someone comes to you with a long list of must-haves, your real challenge will be to help them set realistic expectations. It’s doubtful that you can find a home with every feature they’ve listed.
You can start by going over their list. Then, talk about priorities. Suggest that they think about which of the things on their list are the most important to them. Then, ask them if there are any features they would put last on their priority list. Remind them that they must fulfill their needs first. For more questions you need to ask, take the online real estate course called Roadmap to Success: Tenants.
Tenants Who Don’t Know What They Prefer
If a tenant comes to you only knowing they need a place to live, ask questions to find out what they need and want. As a real estate agent, you must learn realtor skills to ask the right questions. In this case, you should ask them about all the basics they need and the features they want. It might take some time, but it will pay off when you find them a home they love. That’s a great way to get good referrals.
Ask questions about their current living situation. Find out what they like and don’t like about it. Find out why they are looking for a home to lease right now. Discuss how long it can take to find a home. Go over their basic needs, like how many bedrooms and bathrooms would work for them. Then, talk about the kinds of features they might encounter. Get their opinion on how important these items are for them. As you listen to their answers, you should get a clearer idea of what they want.
Preparing the Tenant for the Property Search
You can also learn real estate agents’ skills to prepare the tenant for the search. Here are some things you need to convey to the tenants before you show them any apartments or rental homes.
- There is no perfect home, so stick with your priorities.
- It’syour decision, so don’t count on someone else to choose for you. You likely won’t be satisfied with the outcome.
- There is no perfect time to lease, no matter how long you hesitate.
- Don’ttry to negotiate the deal. Count on your tenants’ agents because they have experience with real estate negotiations.
- Look at the entire neighborhood and surroundings of the home.
- Follow your heart, but also use logic to determine if a home will be right for you.
- Your tenants’ agent will be helping you prepare for seeing homes, completing the leasing process, and even the move itself.
Learn Realtor Skills for Tight Markets
While preparing your tenants to lease a home, you must also prepare yourself. As you learn realtor skills, you must also learn to prepare yourself. For instance, you’ll need to know how to navigate a tight market and still find your tenant the right home for them.
When facing a tight market, landlords have more power than potential tenants. In fact, the asking price is usually going to be very close to the highest offer. If you’re the tenants’ agent, you need to remind yourself that the tenant is at a disadvantage.
Be supportive and encouraging with the tenant. At the same time, suggest that they get financially qualified right away. Explain to them that they must try making the most competitive offer first. Otherwise, they may miss out on home after home. Suggest that they avoid a lot of contingencies so that their offer will be more appealing.
Ready to Go?
If you have prepared yourself and the tenant, you’re ready for the property search. Of course, you will learn real estate agents skills as a real estate agent or broker. There’s no better time to start than now!