Every week, we ask a real estate professional for their Short List, a collection of tips and recommendations on an essential topic in real estate. This week, we talked to Ayman Hanna, the executive director and managing broker at Oak Park Avenue Realty, on how rental referral programs build business for agents.
Every successful agent’s business is built on referrals. But when an agent’s expertise is in the for-sale residential market, the benefits of working with firms that offer rental referral programs can be overlooked. Ayman Hanna, managing broker at RentMACK, one of the largest providers of single-family rentals in the Chicago area, lists how rental referral programs can build business for agents.
4. Establishes New Relationships – Most renters eventually buy, and a trusted agent who helps a client with a rental will most likely be the same agent who is engaged when it’s time to purchase a home.
3. Generates Revenue – Finding a rental property is a much shorter process than buying or selling a home. Participating in rental referral programs can generate steady income in between closings.
2. Pays it Forward – Firms that offer rental referral programs are often larger, established managers of rental properties with extensive client networks. These companies can become a source of future referrals for your business, not only the recipient of your referrals.
1. Strengthens Credibility – Guiding a client in a rental search that ultimately connects them with a reputable rental provider, can build trust, increase satisfaction and result in a long-term relationship.
Ayman Hanna has been a licensed real estate broker for more than 17 years. He is executive director and managing broker at Oak Park Avenue Realty, a premier brokerage firm specializing in residential real estate in Chicago’s south-suburban communities. Hanna is also executive director and managing broker of sister company, RentMACK, one of the largest providers of single-family rental properties in the Chicago area, where he oversees the firm’s realtor relations programs. He received his MBA from the University of Southern California.