Connecting with Agents that own Buy and Hold properties

[Shawn Mcenteer]

Curious to hear what realtors thinks....  As a realtor that owns buy and hold properties do you market to your tenants, try to convert them to future buying clients?

[Steve K.]

@Shawn Mcenteer I don’t market to them or try to convert them to buyer clients necessarily, but I do have a clause in my lease that states if they want to buy a home, and use me as their agent, they can terminate their lease early. The topic often comes up during lease renewals when we discuss how long they’re planning on staying. I’m happy to provide info on the local market and talk about how they can become a home owner themselves (most don’t realize they’re eligible to buy/that 3.5% down is a thing, so it’s rewarding to see them light up at the prospect of being a home owner). I’m actually working with 2 existing tenants now who are looking to purchase in the next year. These tenants are in a Class A rental. Most of my Class B and C rentals don’t have a tenant base that would be able to qualify for a mortgage just yet.