What Portals Teach Us About Rentals

I think that it is fair to say that real estate agents, brokers, and MLSs have not done a particularly good job at developing a strategy to help investors rent property, or renters find property. It is about time that we figure it out.

If you step back and look at real estate from the perspective of the consumer, rent or buy is always a consideration. Portals understand this and are providing support to the full range of the housing lifestyle. It would be a great opportunity for the industry to embrace.

Sometimes, the right financial choice is renting. As real estate goes through pricing cycles, the value equation between buying and renting changes. Buying inventory and rental inventory are co-dependent. Macroeconomic impacts of new home starts, lending, and the job market also play a contributory role.

There are many brokerages who operate property management companies today. In many cases, property management is a boon to their business when the volume in residential real estate sales is slow. However, these businesses run as separate companies that are not well integrated into the residential side of the brokerage.

Out of the nest, into a rental. It is extremely rare for young adults to move out of their parent's house and buy a home. More likely, young adults seek their first living away from home independence in a rental unit. Whether they are going to college or getting comfortable in their new job or career, renting is almost always the first step.

Today, many brokers and agents miss out on the opportunity to build a relationship with this future home buyer.