Hold on to your clients: Don't lose out on a future sale; by sending a customer our way, you'll increase your chances of earning a commission in the future. When the time comes to sell, we'll refer them back to you.
Keep Your liability Low: Taking on extra liability by providing advice on property management? Keep yourself protected by instead referring your customer's questions to our experienced investment team.
Receive a Written Contract: We want our referral partners to feel comfortable working with the Realty Referral Services. We provide detailed contracts and respect the terms of our agreement.
Protect Your reputation: Don't play loose and fast with your reputation by working with an inexperienced management group. Our team will work diligently to keep your clients happy and make you look good.
Earn ongoing referral fees: Every time you send a property management customer our way, we'll pay you a referral fee of $333 when we sign the management agreement. Not when we rent it next or collect a management fee next.
Expiring/ expired listings - If you have a hard to sell listing that just isn’t working out for a sale at the price the seller wants or needs, it may be time to leasing out the property as an opportunity for the seller.
Retain profit on underwater listings and unrealistic seller pricing expectations - We have all realized that certain sellers will waste our time with their circumstances or expectations that dictate a sales price that is unattainable. There best bet might be to rent out their home until time and the changing market allow for a higher sales price.
Reluctant buyer - Do you have a house sale contingency? Have the buyer lease out his property so she can move forward with the purchase at today’s great price. This may be her best option as she can later sell her property at a much higher price when the market returns. If the dollar collapses or we see high inflation, prices could end up increasing very quickly as people move their capital to real estate. Look at the European financial crisis.
Get tenant purchase referral fees -- If your investors have jobs, they will quickly get tapped out on how many rental properties they can manage. They may even end up becoming burn’t out landlords. Good management could help freshen up your investors to the idea of acquiring more properties and of course they won’t be too busy managing their current properties to go hunting for more with you.
Receivership - We just came across a mid size apartment building that a receiver auctioned off. The building sold for about 10% of what it would have sold for if excellent management was in place and it was fully occupied. It was in good condition only needing a little bit of polishing up. 2 months of income on this building will cover the sales price. Unfortunately this is very common in receivership with large apartment buildings. We have the resources to turn around residential investments in these situations so that they can be liquidated for the most amount of money possible. Out of town owners will pay a premium for well managed buildings even when local buyers are reluctant. Again we offer 30% referral back to your broker for sales on apartment buildings referred to us.
Distressed investment properties - Do you have a lead on any larger distressed investment properties. We are developing a niche of helping reviving distressed investment properties in the following two common scenarios.
Attract new investors - With the low prices in North Eastern Ohio there has never been a better time to invest. Many people both local and out of town are transferring their portfolio in the increasingly volatile stock market to real estate which has “visceral” value. Many more probably would if they were referred to a competent property manager they trusted to make there roperty investment more like the passive investments they know. We can provide you with marketing that you can send to your current sphere to introduce the idea of purchasing more roperties and rolling their retirement funds into a self directed account that allows for investment in real estate.
Apartment building short sales - We have been doing short sales for more than 5 years and have completed 60 plus short sales. A typical example would be one that we just came upon. We had an owner of a 12 unit complex approach for help managing his properties. The units are in disrepair. The tenants have not been screened well. He has been to busy with his job to meet potential tenants and lease the property. The property now has such a negative cash flow that he is one payment behind and the property is worth about $100,000 under his mortgage amount. This is an ideal short sale for us. We can quickly fill the property and bring up the maintenance using money from rents collected. The bank is pretty much agreeing to take whatever they can get and will delay foreclosure. Once we get the building fully occupied we can market this to out of town owners as a well managed building with full occupancy and great income. The fact that management is in place will allow us to sell it for more. Thus the bank wins, the seller wins and we get a commission at close from which we will pay your broker a referral fee of 30%. These could be some very large commissions. We are specifically looking for larger building worth $250,000 to $1,500,000 to help out in this way.
For a real estate broker, property management is fraught with liability and low profit margins. For most real estate brokerages it simply doesn’t make sense, and many brokers have E & O policies that exclude property management activities.
However property management is an increasingly important piece of the puzzle for North Eastern Ohio real estate agents. Because of this it often makes sense for real estate agents to work with property management specialists. We’ve found agents want to be reassured that we won’t attempt to steal their client. We are willing to sign a non-compete agreement. We do understand we can all make more money and help more people, by working together.
This is how we pay referrals. We will pay $333 when we sign a management agreement with your refered client.
If owner wants to list the home to sell we refer the property back to you as agent / broker. We record your referral information and include it in an advertisement for marketing emails and also transaction emails from our help desk in the signature as well. Something like "Are you looking to buy or sell your home? Work with Jane Referral Agent Doe at 216-123-1234 or jane.doe@referalbrokerage.com." The intention here is that in all our interactions you end up getting advertised.
Are you interested? Want to know more? Please fill out the form below or feel free to call one of our property management business developement agents at 440-220-7300.
Use our referral form below to provide your client's information. Be sure to let them know to expect our phone call.
A member of our team will call your client and review their management options. We'll draw up the paperwork and get started quickly.
For every property management customer you refer, we'll pay you $333 of one month's rent at management agreement start."
Oh wow! Thank you Andy. You are phenomenal!! I just spoke to Lydia as well and she gave me the rundown. Your staff is the best I have seen in the industry – the white glove service in property management.
Video : https://youtu.be/kE0B1f6eadA
I just rented a home from Realty Trust, which I love…. Glenn is AWESOME! He was very professional, fast and prompt. He went above and beyond by repairing something that wasn’t on the current work order. Not many folks offer that type of customer service these days and I appreciate it.
What sold me on Realty Trust was their marketing system for securing new tenants. What has kept me loyal as a client has been their attention to my properties, treating them as if they were their own, and their exceptional service.
Our association with NARPM nations show our commitment to professional ethics and keeps us to stay on the cutting edge of property management.
We are a fully licensed brokerage and subscribe to the NAR code of ethics as well as access the top industry marketing tools via the MLS.
Being proud members of the BBB is an example to our company commitment to our own deeply held value of transparency.
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Copyright © 2021 Realty Trust Services - All Rights Reserved. We may send out a monthly newsletter if you contact us through our web form. Andrew W. Morris is a licensed real estate broker with the State of Ohio (BRK.2008004009). Realty Trust Services,LLC is registered with the State of Ohio as a real estate company (REC.2009001863). This page was last updated 8/12/2021.
