How Real Estate Agents Can Work with Single-Family Rental Clients
Real estate agents are essential in assisting clients in finding, managing or maintaining single-family rentals. However, with the constant changes in the housing and rental markets, it can be challenging to develop effective strategies and maintain success with SFR clients. To optimize success with single-family rentals, real estate professionals should consider several tips including gaining knowledge of the local market and being a valuable resource for clients. Here are some guidelines on how real estate agents can work with single-family rental clients.
1. Research the rental market
Even though the needs of the rental market and single-family rentals are different from those of home buyers and sellers, it is still important to conduct research. Whether you are representing clients who want to list their single-family rental or those who are looking to rent one, having knowledge of the market is crucial. Before presenting any properties to your clients, it is essential to do your research on the local market to identify suitable options. This involves collecting information on the average rent prices, popular amenities, and average vacancy rates in different neighborhoods. Clients are seeking your service and expertise, and simply presenting them with any available listing may not meet their expectations.
As a listing agent, it is essential to understand how to market a single-family rental to attract potential tenants. While traditional marketing methods are effective, using creative and new marketing strategies can help you find the best tenant for your listing.
2. Offer quality online listings
According to a study conducted by Zillow in 2022, online listings are extremely important when promoting single-family rentals. The study revealed that a majority of renters, ranging from 60 to 74%, rely on online resources for their search. Additionally, a significant proportion of recent renters, around 25%, did not physically visit the property before renting it. Therefore, it is crucial to have an appealing online listing that effectively showcases the property’s features, amenities, and pricing details. Furthermore, including contact information for prospective tenants is also necessary.
Professional real estate photography
In the 2023 Real Estate Marketing Trends Survey conducted, it was revealed that almost all real estate professionals, i.e., 95%, use real estate photography to showcase their listings. This practice is crucial not just for drawing in prospective tenants but also for standing out in the competition. While taking pictures of the property is possible for you or the SFR owner, it’s recommended to collaborate with a specialized company that offers real estate photography services for superior photo quality. Additionally, partnering with such a company offers access to supplementary features like aerial and drone photography and marketing enhancements.
Virtual tours and floor plans
To increase the chances of generating leads for renting out single-family homes, it is important to include virtual tours and floor plans along with real estate photography in online listings. According to Zillow, including a liked floor plan in a home listing can lead to an increase in the number of visits by potential renters. Additionally, a quarter of recent renters have relied solely on online listings and skipped in-person tours, emphasizing the importance of creating strong online listings to convert leads.
3. Provide resources
Real estate agents can demonstrate their worth to clients, especially those seeking single-family rentals, by sharing their expertise. They can provide valuable resources such as neighborhood guides, personalized property search options, and a dedicated webpage featuring rental content or rent calculators for prospective tenants. It is crucial for agents to offer all relevant information to their clients to showcase their knowledge and expertise.
How Havah can help your SFR clients
To excel in the single-family rental market, it is crucial to have comprehensive online listings. By joining forces with Havah, you can elevate your listings to a whole new level, providing your SFR clients with an exceptional experience. Our services include top-notch real estate photographs, access to the Marketing Suite, and a dedicated website for each listing, allowing you to have complete authority over your property’s online presence.
