A vacant rental opportunity capitalises on the situation where a property owner that you know has their property listed for rent with a competitor.
There are two opportunities in one here, where the business also has a property management department. Sometimes RiTA will have been asked to send these opportunities directly to a BDM so if you don’t get any of this type of topic – it is worthwhile checking with your administrator.
RiTA matches the ‘new listing event’ of a property coming to market near a property owner that you have in your CRM as a prompt to have a conversation.
Far too many sales agents underestimate the opportunity of a rental property becoming vacant. No one buys an investment opportunity forever, and investors are always looking for the event where it makes financial sense to either liquidate the investment or to leverage it and grow the property portfolio.
While the property is vacant, it is an ideal time to sell. Marketing and negotiating a tenanted property is not impossible but it does add an extra level of complexity to the deal that most investors will appreciate. For some investors, the vacancy will be the ideal trigger but as the rhythm of re-letting is property manager driven – a sale process may not have occurred to the owner or it just may have seemed too hard to proactively consider.
“Hi, it is Sarah from Delta Real Estate and I have noticed that your house in Smith Street has come on the rental market. The reason for my call today is to see whether the vacancy might be a good opportunity to see where the capital in that property is sitting with an analysis of where similar properties have sold in the sales market. It’s a free service and there is no obligation of course, but with an investment, part of the fun is tracking that capital growth over time and I wondered if I could help you do that today?”
Where the business or sales agent has a relationship with a property owner, and their property is under management with a competitor then there is an opportunity to acquire that management for the business. For sales agents, it is much easier to sell that property when the time comes IF that management is under the roof of where you are selling.
If there is no RiTA opportunity for the sales agent, it may be worth referral to the BDM to see if the property management opportunity can be executed.