Single-Family Rental investors openly acknowledge that they’ve had to figure out the SFR investment market by themselves. The only way to learn is through peer-to-peer training because the industry of residential real estate has never developed the specialization to help people who want to invest in homes, rather than live in them.
For someone wanting to buy and sell Single-Family Rentals in bulk, the process is long and tedious. If they do use a real estate agent, they have to uproot their tenants, list the houses on the MLS and sell each property individually. If they choose to try and sell their portfolio on their own, they have to resort to creating listings on Craig’s List and other local classified sites.
So, why should this matter to a real estate agent? Because the SFR market is blue ocean!
The SFR Market = Blue Ocean
Single-Family Rental owners are finally starting to be put in the center of the universe with companies like OwnAmerica and conferences such as IMN and The Five Star. By understanding the SFR market place, knowing how to find investors in your area (SFR investors are hidden everywhere!) and being knowledgeable on how to sell stabilized inventory, a real estate agent could submerge their toes in this blue ocean and really build a successful SFR business.
OwnAmerica CEO, Greg Rand, loves to use investing in Apple as an analogy for real estate agents when it comes to the SFR market. Greg always talks about how he thought about investing in Apple early on, but waited too long and missed his opportunity to really capitalize on Apple’s good fortune.
In Greg’s analogy, the Single-Family Rental market is about to explode in the same way Apple’s technology did, and OwnAmerica is your gateway to that good fortune. If investors had real estate agents to reach out to that knew how to sell their stabilized portfolios, real estate agents would receive much more business and owners would receive the guidance they need to capitalize on their investment.
So, what does a real estate agent need to do to get in the game? Simply create a free partner account on OwnAmerica and dedicate some time each week to finding Single-Family Rental owners. And how do you find owners in your area?
These foolproof tips will lead the way:
#1. Connect with Professionals who can Refer You to Portfolio Owners
Think of other professionals who operate in the real estate sector – attorneys, accountants, financial planners – the list goes on and on. Perhaps a few people come to mind that you’ve referred clients to in the past or vice versa. Call them up, ask if they have clients who own SFR and simply ask if they think their clients would like to know what their portfolio is worth.
Next, you can schedule a coffee or appointment to show them OwnAmerica’s portfolio valuation technology and hopefully gain a new lead.
Prior to your meeting, login to OwnAmerica’s platform and visit the Partner Portal through the menu in the left side panel. Within the Partner Portal, you’ll find a variety of resources available to agents such as the Investment Management Technology for Single-Family Rentals slide deck. This tool makes explaining the OwnAmerica platform to prospects simple!
#2. Do Some Research on Craig’s List and LoopNet
Like previously mentioned, there hasn’t been an online marketplace for Single-Family Rentals until recently. Therefore, investors were using sites such as LoopNet and Craig’s List to list their portfolios and find buyers.
Each Friday, Greg hosts Touch Base Fridays, a National Sales Call with real estate agents, and these sites are constantly mentioned by agent partners as great sources to find SFR inventors.
By simply spending some time locating listings and calling these investors, partners are able to acquire qualified leads! SFR owners get excited to receive calls regarding their portfolios – these investors have been doing their own legwork for some time now and get so excited to hear about an online marketplace dedicated to them.
Looking for More Tips and Resources to get You Started?
At OwnAmerica, we’re so excited about what’s coming down the pipeline in Single-Family Rentals, and we want nothing more than to build a network of elite real estate agents who understand the process of buying and selling stabilized portfolios and working with these investors.
If you’d like to download resources to use in prospecting meetings or you’d like to watch any of our past Touch Base Friday webinars for more tips directly from Greg, we invite you to visit the Partner Portal by registering for your free partner account today!