The residential real estate industry holds enormous potential. In any economy, there are always real estate deals to be done. People need a place to live, whether it’s a single-family home they own or a multifamily rental unit. This is what has attracted millions of professionals to the industry.
Property management, in particular, is a segment of the industry primed for opportunity. Those with real estate experience—like agents, brokers or part of a property management group already—might consider taking advantage of the potential this critical sector has to offer.
Although you don’t have to have real estate experience to own and operate a Keyrenter Property Management franchise, we’ve found that savvy real estate professionals have thrived within the industry. Take a closer look at why leveraging your existing real estate skills to open a property management business is a smart idea.
Existing knowledge of your market
Everyone knows that the real estate market in Dallas, Texas, is vastly different from that of Cleveland, Ohio, or Las Vegas, Nevada. Across the country, residential real estate can vary dramatically. As a real estate professional, you need to understand the ins and outs of your particular market—its unique benefits and challenges.
If you’ve worked in real estate in your home territory for some time, you understand these specifics well. You’re more likely to have your finger on the pulse of local market trends, home sale and rental rates, rules and regulations and levels of demand. Having this understanding is critical to becoming successful in the property management industry.
By leveraging your in-depth market knowledge, you’ll be able to home in on your clients’ property concerns, anticipate changes in the market cycle, identify and solve tenants’ needs and much more. All of this makes for better service as a property manager.
Relationship-building is second nature
At its core, the real estate industry is about people. Building relationships and fostering human connections are extremely important in order to close a sale, sign a contract and resolve challenges. Experienced real estate professionals have spent years developing their people skills, to the point that networking and communicating are as natural as breathing. You may even have a list of property owners at the ready!
The Keyrenter Property Management model is all about creating and maintaining those relationships. Our property managers must network with realtors, investors and property owners to sell their management services. Then, they must continue to meet their needs to solidify them as long-term clients. Having a pre-established network of contacts can give you a head start when building your portfolio as a property manager.
You’re ready to jumpstart your business
If you currently work in the real estate industry, there’s a good chance you already hold a real estate license. This type of license is required to perform some of the duties associated with property management.
Having this license saves time when you’re first launching your Keyrenter business. New Keyrenter franchisees with a valid real estate license can get started in just four to six weeks, instead of a matter of months. This lets you hit the ground running and start earning money that much faster!
Get a leg up in your territory
Whether you already own an independent property management service in your region or you’re a real estate agent looking to diversify your industry expertise, consider opening a Keyrenter Property Management franchise. The real estate and property management industries offer lots of opportunity for eager and hard-working professionals. By bringing your real estate experience to the table, you’ll have a leg up when it comes to navigating and finding opportunities in your territory.
The Keyrenter model gives franchisees access to a comprehensive suite of proprietary automated systems and technology that allows you to manage more properties in less time, with less effort and less stress. Our franchisees enjoy multiple recurring revenue streams and proven processes to build their wealth in this high-potential industry. We’ve grown our business to over 50 regions, but there are still plentiful opportunities in major markets across the country. Contact us today to learn more about our innovative approach to professional property management and find out if you’re a good fit for the business.