Editor’s note: This article is reposted with permission of Zillow. View the original item: "Real Estate Agents: Single-Family Homes a Hot Rental Item"
By Jennifer Chan
Are your clients reluctant to sell their homes in a down market? Well, you’re in luck: Fannie Mae reported that the single-family home rental was the fastest-growing sector of the rental market from 2005 to 2010 — and it’s still growing.
While it might not be the best time to sell a home, you can certainly use this opportunity to help your clients rent it out. Becoming a leasing agent involves a smaller commission, but you’ll also be able to nurture clients until they’re ready to buy a home down the line. Here’s how to expand your agency’s service offerings and navigate the world of rentals.
You already know how to sell
Leasing isn’t too far removed from selling — you’re set if you’re already a licensed real estate agent, aware of the laws involved, and how to facilitate a real estate transaction. You also know that closing a deal involves more than writing a listing and holding a showing. Now just apply your knowledge to rentals.
Real estate agent presenting keys to a house via Shutterstock