1. After doing a CMA and going on the listing appointment, it is determined that the seller is underwater on the property and needs to wait for the value to come up. Don’t give them the bad news without a solution. Refer them to us to rent it for a year or two while the value increases and when they’re ready to sell, we’ll send them back to you. Meanwhile, you’ve given them an option that allows them to pursue their plans, move out of the home, and have their mortgage covered with rent. You’re a super star!
2. You have a listing that is expiring and the seller doesn’t want to renew. Give them a solution that allows them to move as planned by referring them to us rent and manage the home. When they’re ready to trying selling it again, we send them back to you.
3. You’re working with a buyer who is purchasing one or more houses strictly as investment property which they intend to rent. Many investors want the rewards of rental income without the hassles of managing tenant relationships. Recommend a reputable property management company that can alleviate them of the burden. If they ever decide to purchase additional properties or sell the ones they have, we refer them back to you.
4. You have a friend or customer that needs to rent their property so they approach you since they know you’re in real estate. However, you specialize in sales, not property management, so you refer them to us and still get paid for the referral.
Note: All referral fees are paid to your broker once an Owner has signed an Owner Agreement and we have successfully secured a tenant for the property.