A Carlsbad Realtor's role can be demanding, but it's often straightforward. You list homes for the clients with whom you work and also handle tasks such as:
- Negotiating prices
- Previewing the MLS
- Listing homes
- Scheduling showings
- Coordinating inspections
- Working closely with mortgage companies
- Preparing contracts
- Keeping up with the current real estate laws through continuing education
These tasks, as crucial as they are, represent only part of a real estate agent's job. Sometimes the situation deviates from the norm, and Carlsbad realtors need to change the plan. Your client may think they are ready to sell their home, but an unexpected scenario may make it impractical at the moment. For example, they may not be willing to accept purchase offers. The Carlsbad housing market may not be showing signs of changing, so it's not practical for them to sell.
However, they may need to move for logistical reasons, such as a new job, but don't want to sell their home because they want to come back to it when they retire. Renting out their house instead of selling it is a solution that satisfies all parties. In these types of cases, a property management company referral is in order.
What is a Property Management Company Referral?
What happens when you have a client that initially wants to sell their home but decide to rent it out instead? You could refer that client to a trusted Carlsbad property manager. While their home rents, a referral allows you to keep your client. Once the client is ready to sell, the property management company returns the homeowner to you as their realtor.
Why Refer to a Carlsbad Property Management Company?
Some real estate agencies have a property management component within the company, but this can be problematic. You don't want to appear that you're pushing people to rent out their houses, or sell when renting is a better option for them. It's best to outsource the job. Not only will it help maintain the integrity of your real estate business, but it keeps the two activities separate. If the client isn't ready to make a sale anyway, you can benefit from referring them to the management company. Here's how.
Fulfills a Need: The most important thing for any business person to keep in mind is that fulfilling your client's need is a win for you. Clients need to feel that they gain something by coming to you. Even if you don't get to sell their house at that time, you are developing an image as a realtor that puts client needs first, and that can be incredibly valuable to you.
Builds Your Brand: Your brand image is the sum of how your customers view you. If you consistently deliver value to them, you boost your brand. They will keep you in mind when looking to buy or sell in the future.
You Receive Word of Mouth Advertising: While you may not sell the house that you refer to a Carlsbad property management company, you may sell one to that homeowner's neighbor, friend, or family. As you help them get their house rented, they will remember you the next time someone needs to sell a home. Word of mouth advertising is still a powerful mode of advertising.
Selecting the Property Management Company
Of course, you don't want to close your eyes and pick a company out of a hat. You want a reputable company, so you know your clients are taken care of. A bad referral will reflect poorly on you, after all. Here are some key characteristics to look for when searching for the company:
Trustworthy
You want a Carlsbad property management partner that is going to be honest and ethical in all their dealings with you and your clients. Research their reviews on Google or another online review site.
Connected
A Carlsbad property management company that has a network of contacts throughout the community will likely be well-established. They will also have the required maintenance teams, as well as ready access to sub-contractors for additional jobs if needed.
Offers a Referral Fee
What could be better than knowing that you'll also get a small referral fee for your efforts? Many property management companies offer bonuses for referrals if your clients sign a contract for service. You'll still earn money if you don't make a sale, and you'll get the client back when they decide to put the house on the market.
If you're a Carlsbad real estate agent looking to expand your business model by offering your clients reputable property management services, then get in touch with us to find out how you can join the Realtor referral program today.
