Leading real estate agent and property investor David Bradica shares his top three tips for making the most of investor clients.
1 – Educate yourself
You’re only useful to a landlord if you can help them make more money, and you can only do that if you know more than they do. So, your first step in working with landlords and investor clients is to become well-versed in the world of real estate rentals.
“You provide more value when you’re able to improve their rent and rentability through your feedback and experience,” Bradica says. “A landlord is hiring you and using you because you’re making them money.”
2 – Be a consultant, not a salesperson
Landlords often look to their agents for advice, so be honest. If you think a property needs a renovation to get the best rent possible, suggest that.
“If you want to provide value, you need to be a consultant to (your investor clients),” Bradica says. “Tell them what finishes or what they need to do to make their property rent ready.”
3 – Reach out to tenants
“Feedback from tenants is very important,” Bradica says. “For every month the property is empty the landlord is losing money and getting stressed, so it’s very important to get feedback.”
Begin your tenant search for clients by interviewing the departing tenant. What did and didn’t like about the property and about the landlord. But listening to what the tenant has to say goes beyond language.
“Hear what they’re saying and what they’re not saying,” Bradica says. “In those gaps, you can hear why (the property) is not renting. That feedback is very important to a landlord.”
Real estate investors are increasingly sought after by agents as the ultimate clients. But winning and maintaining their business can be challenging.