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WAV Group to industry: Embrace rentals or lose to third parties

Published on Apr 11, 2013 | Updated on Apr 23, 2013

Real estate agents and brokers are missing out on a potentially lucrative business opportunity to serve consumers interested in rentals, according to a study conducted by residential real estate consulting firm WAV Group Inc.The study, conducted on behalf of the Houston Association of Realtors, surveyed 1,196 Houston metro residents online between Sept. 26, 2012 and Oct. 30, 2012. The vast majority of respondents, 82 percent, said they were currently renting or leasing, and the remainder said they were looking to rent or lease.One of the most interesting findings in the study was that 38 percent of respondents had previously owned a home, said Marilyn Wilson, co-founder and partner at WAV Group."In the industry we think of renters as one group of people and owners as another group of people, but they're actually merging into one," she told Inman News."People are going in and out of homeownership seamlessly now," she added, in what she called the rental/sales lifecycle. ...