NAR's Rental Beast Helps REALTORS® Earn More
A new benefit from the National Association of REALTORS® (NAR) could provide you with the ability to easily convert renters to home buyers.
Specifically, NAR members now receive free access to Rental Beast, a secure and FCRA-compliant online rental application and tenant screening tool. Here's how it works: first, you help new clients secure a rental using Rental Beast. After they move into their new home, you cultivate the relationship until the time is right for homeownership. The innovative platform has more than 10 million rental listings not found on the MLS. REALTORS® also have access to on-demand webinars and self-paced online courses through Rental Beast University. Educational topics include how best to convert renters to buyers, social media skills, and more.1
Four Strategies that Create Confidence in Your Sellers
With inventory at record lows, many potential sellers are hesitant to put their home on the market. This is often due to concerns that they may not find a suitable home to purchase within the allowed timeframe after their current home sells. Here are four strategies to ease their fears in today's market:
Start early.
Address their concerns early and honestly. Detail the realities of the market and ensure they understand the need to act quickly on homes they like.
Debunk the myths.
Share information about current pricing, local markets, and trends. Reassure them that you'll do everything possible to help them find a new home.
Understand expectations.
Find out if your sellers would consider downsizing or making a lifestyle change. You can help them find alternative solutions by knowing more about their plans.
Get location ideas.
Ask your sellers if they've spotted one or more specific homes that interest them. Then, reach out to the owners of those homes to find out if they would be interested in selling. You never know who may be interested until you try.2
Claims To Avoid in Your Marketing
A few real estate agents make unproven claims in marketing. But instead of attracting new clients, these statements can put reputations at risk. Here are the top four claims that real estate pros should never make in marketing without proof:
Claim #1 – The best.
When an agent says they're the "Top REALTOR®" in any given city, there are usually hundreds of others making the same subjective claim. That's why it always falls on stony ground unless you include proof.
Claim #2 – The specialist.
If you describe yourself as a neighborhood specialist, be sure you know what buyers will want to know. Potential clients can research and dispel any inaccurate statements easily.
Claim #3 – The fastest growing.
This is one of the most abused claims in any industry. Agents should be specific and provide the background to show it's legitimate, such as a graph that displays their sales figures for the past three to five years.
Claim #4 – The highest customer satisfaction.
Did you call and ask previous clients if they were satisfied? Or is this statement based on online reviews? If you make this claim, provide the background, such as a link to your reviews.3
Three of the Best Places to Get Real Estate Leads
There are a lot of options if you're looking to buy real estate leads. But it's difficult to sort through them all and determine which ones are worth your time and financial investment. Real estate coach Chris Linsell recommends these three lead subscription services. Be sure to research each platform to determine the best option for your business.
1. For guaranteed leads every month: Market Leader
Market Leader provides exclusive buyer and seller leads in local markets that are not shared with other agents. Currently, the monthly cost is $139, plus $25 per lead. A six- or twelve-month contract is required.
2. For agents who have been unsuccessful with traditional lead gen: Offrs
Offrs uses predictive analytics to determine who might be looking to buy or sell — versus focusing on live or here-and-now leads. Most agents spend $200 to $500 per month. A twelve-month contract is required.
3. For agents on a budget who want to control lead volume: REDX
REDX connects agents with homeowners who are actively looking to sell. The monthly pricing options can be as low as $39.99. No contract is required, but agents can take advantage of annual contract savings.4
What is the First-Time Home Buyer Tax Credit?
The First-Time Home Buyer Tax Credit is intended to help people build wealth and make homeownership more accessible given high rent prices nationwide. The tax credit was originally introduced in Congress in April 2021 and was one of the Biden Administration's key campaign promises.
Although the credit has yet to be passed into law, many experts believe it's inevitable. Eligible first-time home buyers would receive a refundable tax credit equal to 10% of the purchase price.
Tax credits would currently max out at around $15K. The exact total would be dependent upon the year the home is purchased.5
Sources: 1magazine.realtor, 2rismedia.com, 3theamericangenius.com, 4theclose.com, 5themortgagereports.com
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