A.D. Cantelmo Property Management
Our Business is Property Management in Orange County California
Approach renting no different than if you were selling
I tell people all the time that renting their home is not that
much different than if you were selling your home. Of course you are marketing
to different people, but people are people and they are still looking for much
of the same thing. The big difference is that one is looking for the long term
and one is looking more short term.
Similarities between Selling and Renting
The first similarity is the way you market to other Realtors
and I am talking if the property is using a Realtor. If a property is being
sold or rented by owner, this similarity does not apply. Always remember as a
Realtor that you are marketing to other Realtors. I know that the internet has
changed the equation some and everyone has access to what is on the MLS, but
most people still use a Realtor, the number according to the National
Association of Realtors (NAR) is 87% of people buy their home through Realtors
and only 8 percent of homes sold were for sale by owners (FISBO). No numbers
are available as far as the percentage of renters who use Realtors, but as a
Property Manager I know there are many. When I put a property on the MLS, I am
called by many more Realtors then by potential renters without a Realtor, so I
make sure that I make the property interesting to Realtors and the best way to
do it, is through a commission. Make sure you are paying enough commission to entice
other Realtors.
The next similarities are understanding why people buy or
rent.
Needing a larger home
Job related relocation
Change in family situation
Affordability of homes
Desire to be closer to family and friends
Desire for a home in a different area
Retirement
Desire for a smaller home
Desire to be closer to job, school or transit
All these reasons for renting or buying a home are interchangeable.
People care about the same things whether they are buying or renting, so you
need to look at the list and market your home to the people who fit one or more
of those reasons.
I have talked about School districts many times and if your home
is in a good School district, make sure you emphasize that point in your
marketing. If you look at the list, you should be able to pin point a
few of those reasons that people look for homes and market your home to those
reasons that fit your property.
Don't overlook Curb Appeal
What you don’t see on the list and I think it is important
is the curb appeal of the home. Now the curb appeal may be a little more
important to buyers then renters, but it still all goes back to the old adage, “you
only get one chance to make a first impression, so make sure the curb appeal of
your home does not keep people from going inside the home.
If you are trying to rent your home, approach it the same
way as you would if you were going to sell your home. Put forth the strong
points and match those points to reasons people are looking for homes.
A.D. Cantelmo Property Management
Specializes in Property Management in Orange County
Ca.