As real estate professionals, property management companies know how important it is for you to maintain and protect your reputation as a sales agent, especially in a busy housing market like Portland, Oregon.
According to Redfin's Oregon Housing Market Overview, 4,490 homes were sold in Oregon in July 2024, a 5.9% increase from last year. The data also shows that 78% of Portland homebuyers were determined to remain in the greater Portland region.
These numbers are great news for sales agents like you. However, the competition between sales agents in Portland is also competitive, and you must always ensure that you are ahead of the game. Besides, not every property is ready to be sold, and not every client is eager to part with their assets.
This is where a property management company enters.
Property management companies enhance service quality by adding another point of contact for your clients, making them feel cared for and supported. They utilize advanced systems and portals so property owners can easily track their assets and investments.
In the list below, we will discuss further how property managers can help you in your business as a sales agent.
Expand Your Business Expertise
You have great experience selling properties and closing deals as a real estate agent. When you partner with a professional property manager, you can expand your business domain and the expertise or services you offer in selling and closing property deals.
This may open doors for more business opportunities, such as new prospects for commission-based fees and recurring income in property management.
They Can Help You Bridge A Gap
Limiting your scope to selling and closing real estate deals to clients can have a substantial financial impact. You can take this business flaw as an opportunity and partner with a property management company so there won't be any gap in your income stream when the housing sales market is slow.
It Complements Your Real Estate Business
Property management is an excellent networking opportunity for real estate agents. Real estate is mostly dependent on your network of connections. This means the more extensive your network is, the more contacts you can have for your business. More contacts may result in additional sales.
Managing a property also means developing professional relationships with your renters. So, if you partner with a property management company and provide a referral, you can skip the time-consuming part of finding new clients when that tenant decides to buy a new home.
Diversify Your Revenue Streams
One of the most obvious benefits of property management as an agent is that it can help you make extra money on top of what you make from your real estate business. Since your primary job as a sales agent is to close deals, you can use your free time to help potential clients by referring them to a property management company.
The property management will pay you a referral fee for each customer you bring in who signs a lease. This opens up a new revenue stream for you without much effort, unlike when you are trying to close a deal. In return, the property management company can also refer clients to you, increasing your home sales prospects.
Acquire Top-Notch Leads
Property management companies work with all kinds of tenants all the time. They thoroughly screen applicants to provide quality tenants to their clients. These are the kinds of people who will want to buy their own home one day.
So, if you work together with a property management company, you can get information about possible clients in addition to the ones you've already sent their way. People who reach out to you through a property manager are not just looking around. They are almost ready to buy or sell a house. People who are renting and about to buy their first home or owners looking to add more properties to their list of rental houses could be among them.
Get the House You're Selling in Tip-Top Shape
As a sales agent, homes that are unfit for rent or sale will inevitably pop up in your line of business. Taking the time and energy to fix them may be costly and can cut your productive hours when finding other business opportunities.
By partnering with a trusted property management company, they can expertly assist you in helping your client improve their homes through full-service management. As they skillfully take the burden out of your hands, you can spend your time on other valuable opportunities without worrying about losing this potential client.
Develop Lasting Connections with Clients
You shouldn't lose a good client because it's hard to sell that house right now. You can instead send them to a property management business like Kerr Properties, Inc. You can keep the client until they're ready to sell, and you'll get your sales fees back.
They can easily contact you through your connection with a property management company whenever they are ready to let go of their assets and start the selling process.
Wider Range of Services for Your Clients
You help your clients improve their rental properties by referring them to property managers you know and trust. Let's say you just sold a house, and the buyer told you they will only use it as a vacation home. This is a great chance to let them know you work with a property management company and earn their trust by meeting their needs.
You don't lose clients to other companies and make some extra money at the same time. In the end, this will give them reasons to value your business more and be more likely to tell others about you, providing you even more clients!
Securing Your Real Estate Business
The real estate market goes through cycles, and there will always be times when sales are slow. Due to this, diversification has become a trend in the real estate business.
Suppose you want to develop your business portfolio as a real estate agent. In that case, establishing a partnership with a trusted property management team is an excellent choice since the rental market stays strong even when real estate bubbles pop. By offering this kind of partnership as part of your services, you'll be able to stand out from other real estate agents in the market.
Gain A Deeper Understanding About Real Estate Industry
Partnering with a property management firm may help you utilize their expertise, training, and professional staff. Property management teams are usually composed of real estate professionals and experts whom you can contact and consult whenever you need advice regarding investment opportunities for your clients.
Through their expert knowledge in the industry, you can be guided accordingly and even gain new insights and strategies for doing your business.
Establishing connections and a good reputation is essential if you want to survive the real estate sales agent market. This can't be achieved in a blink of an eye. It requires a lot of effort, time, and camaraderie to build up a name and get your client's trust.
Here at Kerr Properties, Inc., we understand the importance of a lasting relationship with your clients. Let us help you provide the best service to your clients through our Agent Referral Program.
Our approach is meant to provide the same degree of care and attention that you would give to your clients by attending to their properties from beginning to end. If you want to learn more about how our services might complement one another, please feel free to drop us a message.
