Fellow real estate agents that work in the business for long enough are surely familiar with the fact that some listings expire despite their best efforts. Many reasons can cause a property to fail to sell. Maybe you have been over-enthusiastic and accidentally overpriced it, or the property is so unique that it is hard to find the ideal buyer. Not to mention the ever-changing market conditions. A listing agreement that comes to an end can potentially harm your business, since homeowners may feel frustrated and choose to end their collaboration with you.
So what to do? We have come up with a solution to help fellow agents when properties do not sell during the listing period.
At Smart Shield Property Management, we think that you can retain the relationship with the seller and maintain your potential for future business by offering to rent out their home until a better opportunity shows up in the future. Always be open and explain to your clients that the current market circumstances may simply not allow for the profit they had hoped for, and that postponing a sale may bring bigger financial gains in the future.
There are important advantages of renting out an unsold property:
- Gain your client’s trust. You provide your client with an easy and financially profitable alternative to a failed sale, so you will gain their trust. They may write referrals and help you reach out to other potential clients.
- Maintain your business opportunities. You retain the possibility of future business with clients when they decide to re-list their home.
- No hassle on your side. There is no need to rent out the property yourself, as you can partner with a property management company to do the work for you.
Interested in finding out more about a partnership with a property management company? Check out our agent referral page!