How Corporate Housing Helps Realtors Save Commission

Tell me if you’ve heard this one before. A real estate agent gets a hot lead for an executive moving to the area from out of town. She reaches out and makes a great first impression, then spends the next four Saturdays showing them homes. The buyers can’t decide what they want, so they decide to rent for a while first, then six months later when they decide they are ready to buy they go with another agent.

Or how about this one? Your sellers want to take advantage of today’s great rates, but they’re afraid to move until they have a new home lined up. After months without success finding a new home, the sellers decide it’s just not worth the risk to put their home up for market and just back out.

Oh no! All that work down the drain! If only the real estate agent had a partner in the corporate housing industry to keep their buyers on the hook; and for goodness sake, SAVE that commission!

What does corporate housing have to do with saving a sale? I’m glad you asked. For over 30 years, Viciniti has been a partner to many real estate agents throughout the Midwest to reduce client turnover and keep homebuyers engaged in the process.

You might be thinking that referring a client to corporate housing is the opposite of what you want. After all, you want them to buy a house, not rent one! I hear you screaming but hear me out.

There are a lot of instances where a corporate housing partner is going to help you grow your business and save those sales that may otherwise be lost. A few situations when corporate housing can be leveraged in your favor include: 

• Closing delays
• New home construction
• Clients moving in from out of town
• Renovations

Let’s break it down. Are you ready?

 

Closing Delays

After two months of searching, Rick and Amy have decided on the perfect home in the perfect neighborhood. They sold their current home in record time and the closings have been perfectly aligned for a smooth transition. Then, just two weeks before their big day you get a call from Sandy, the agent for the sellers.  

“Hey Sandy, what’s up?” You ask.

“Well, I’m afraid I have a bit of bad news. I just got a call from my sellers and Susan’s elderly mother who lives with them has taken a nasty fall. She’s going to need about a month to recover before they can move” Sandy says.

Now what?? It’s too late to find another home for Rick and Amy before they close on their current home, and besides, they LOVE this one! This is the perfect time to call your corporate housing partner.

Corporate housing providers offer guests comfortably furnished temporary housing during transitional times in their lives – like changing homes! Typical stays with corporate housing companies range from two weeks to a year, in some cases.

Rick and Amy will be able to pack up their home and close on their sale as planned. They will live in a beautiful, furnished apartment until they can move into their dream home. And guess who their hero will be for saving the deal? YOU! 

 

New Home Construction

Now let’s say that Rick and Amy had chosen to build a new home. Everything is moving along swimmingly, then uh-oh! The recent storms have caused construction to fall behind, and on top of that, the quarry that provides the granite has been dealing with labor disputes, delaying delivery until the disputes are settled.

We don’t know how much longer construction will take, but we know the house will not be ready before Rick and Amy close on the sale of their current home. This is another scenario where having the option of corporate housing can alleviate stress for your clients.

Besides having a place to live while their new home is finished, most corporate housing is located in luxury apartment communities with sparkling swimming pools, state-of-the art fitness centers, and even unique luxuries like resident tap rooms and community spas that will make them forget about their construction mishaps.

And you saved the day again with help of your corporate housing partner!

 

Clients Moving from Out of Town

Now, let’s go back to that original scenario, the one with the executive that is moving to the area. It is 9 AM on a Tuesday morning, and you get the call.

“Hey, this is Mr. Big Shot. Thanks for all the work you’ve done to help us find a home. We really loved some of the houses you’ve shown us, but being completely unfamiliar with the area, we’ve decided to rent a townhouse for the first six months to make sure this is the part of town we like the best.”

Then YOU say, “That’s a great idea Mr. Big Shot! Let me put you in touch with my corporate housing provider, Kim. She has furnished luxury rentals where you can live while you get accustomed to the area.

That way, you can pack up your home in Far Away Land, and only move your things one time once you find your new permanent home. Also, since corporate housing doesn’t require a long-term commitment, we can continue to look at homes, and when you find your dream home, you can jump on it without being stuck in a long-term lease.”

I think you’re getting the idea of how this whole corporate housing idea is making you a hero to your clients and saves commissions that may otherwise be lost. Here’s one more way corporate housing can help you.

 

Home Renovations

Well, it’s been a long journey with Rick and Amy. They have looked at 42 houses, and everyone is worn out. Several have come close to what they’re looking for, but there’s always something that isn’t quite right. This one doesn’t have a finished basement, that one has carpet when they need hardwood for Rick’s allergies, the list goes on. Another one ticked all of the boxes, but the kitchen was so 1983.

They went ahead and listed their current home, because seriously, how much longer could this take? And today they got not one, but two offers for well over asking price!! Now it’s go-time.

After giving it some thought, Rick and Amy decided to go back to the house with the outdated kitchen. Besides the kitchen, it had everything they wanted, and with the additional money they’ll be making on the sale of their current home, they can afford to have the kitchen renovated before they move in.

The only thing they need to figure out is where to live between houses. Lucky for Rick and Amy, they are working with an extraordinary agent who has the answer. Corporate housing will give them a place to live while the renovations are being completed on the new house. They can live in comfort at a furnished apartment, avoiding all that construction dust that will kill Rick’s allergies, and move in when the house is ready to go!

The short leases offered by corporate housing makes this exciting change possible without committing to a lengthy lease or settling in for a long haul in a cramped hotel.

 

Ready to be the Hero?

Your partnership with Viciniti is going to pay dividends right from the start. As you can see, there are many times having a corporate housing partner is the perfect option to solve your clients’ temporary housing dilemma. But just as important, it keeps them connected with you until they move into their dream home and you get your commission.

When your clients have cold feet about selling their home until the find a new one, corporate housing makes an awesome sidekick.

Your clients will be rewarded with a fantastic furnished apartment with all the bells and whistles making their temporary stay as stress-free as possible – because we all know that the homebuying process is anything but stress-free. Plus, when Rick and Amy book their stay of 30 days or longer, you will receive a referral bonus for connecting them to us!

That referral partnership works both ways. Viciniti works with executives all the time when they’re deciding where to stay when moving to a new city. Sometimes they have a real estate agent before they move, but a lot of times Viciniti is in the perfect position to connect guests with an agent to help them locate the right home.

By staying in touch and fostering that relationship with your corporate housing partner, you know you’ll be at the top of the list when clients ask for a referral to a great local real estate agent!

Are you in any of the situations mentioned above? Then this is the start of a beautiful friendship. Refer your clients to Viciniti or learn more about our referral program on our referral page. Happy selling!

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