by

Commercial Real Estate Finance Expert
Structured Debt and Equity
Licensed Real Estate Broker in AL, CA, and FL

Author website
I don’t need to tell you that housing inventory is tight. Buyer agents are having a hard time earning a living today while listing agents are finding more and more competition.
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One thing you can do is to prospect out-of-state investors and offer one free service for them– comparable rent analysis. Rents are rapidly rising and most investors aren’t keeping up with the market.
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Many out-of-state investors are former residents; they lived here, moved to another state, and hold the property as an investment. While some Realtors are focused on telling homeowners and investors what their property is worth, hardly any are speaking with investors about what they could be earning from their home.
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I subscribe to two services to help me offer my expertise to investors:
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Rentometer offers a quick, easy, report, which you can generate with your branding, showing the comparable rents for the property. It costs less than $100 annually.
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A more proactive approach is to subscribe to Homebot. Homebot keeps you in touch with past clients and prospects by sending them a monthly homeowners digest, showing them data on property valuation, rent estimates, AirBnB analysis, potential homeowners equity, possible move-up potential, and a whole bunch more. It’s VERY sticky– My Homebot email open rate is north of 70%. Homebot offers real estate agents a free version and the full service costs about $25/month. You must be sponsored by a lender to subscribe to the free or upgraded version so, if you want to see how it works, just hit reply and ask me to sponsor you.
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Out-of-state investors have made money on their property and may want to sell for two reasons: they want out real estate as an investment OR they want to invest in another area with a higher capitalization rate. You can grab their attention by offering something other agents won’t offer– a comparable rental analysis. After you perform the analysis, you can keep that data, and your name in front of them, every single month. That is going to earn YOU more listings