The Talent of Showing Property A large part of a real estate agent’s job description is: “Take people out and keep showing them property until they find one they want.” Sales agents know that they need to showing enough property so that the consumer feels comfortable making a decision. In my experience many agents doing rentals don’t [...]
Product Knowledge is Key Sales people in any industry are constantly reminded of the importance of knowing their product. In the real estate business a common axiom is “never show a property that you haven’t seen first”. Sales agents all across the country “caravan” every week and preview the new homes listed in their city [...]
More People, More Opportunity How many people do you need to work with? I have an answer but you need to come up with your own. It is a vital component of your business plan. My answer is 200 people per year or 4 new people a week. A top agent would close 50% of [...]
Tracking Performance: Who's Winning? Behavioral scientists have proven that the “act of keeping score” improves performance. Quite simply, rental agents should keep track of what they actually do. Every agent should track basic actions such as the number of new prospects they work, the number of properties they show, their total number of appointments, the [...]
Transportation to and from residential properties influences their ability to generate income and appreciate in value. There are two kinds of transportation to keep in mind: public transportation and roads. But start by considering who will occupy the property that you will rent or sell. Are they more likely to drive to the places where [...]
Perhaps you have your eye on a smaller apartment building that you would like to buy. And then an idea comes to you. Why not buy it and convert it from a rental property to a condominium? It’s an appealing. In some cases, you can earn large profits very quickly. However, you need to be [...]
One of the best ways to get a start in real estate investing is to invest in a small two-family or three-family home and occupy one of the units. “I live rent-free,” says one such investor, “and in a few years, I will move into the kind of single-family home I want and rent out [...]
How to Set Up Showings for Rental Properties When showing rental properties, you want to balance two different goals. You want to attract a large volume of possible renters – as many as possible, in fact. Yet you also want to attract qualified, reliable tenants who will pay the rent regularly and remain in your [...]
Check Out Local Employment Trends before Buying Properties Whether you’re planning to invest in single-family homes, apartment houses, or retail or office space, you need to understand local employment conditions and trends. After all, you want to be able to sell or rent your properties to people who are employed. If you’re looking at properties [...]
How to Hire a Great Property Manager The easiest way to hire a property manager is to call a local realty company and ask whether it manages properties. That’s convenient and fast, but it might not lead you to the management company that will do the best job for you. The bottom line is, you [...]