Ricardo Suber, an agent with eXp Realty, earned his real estate license in summer 2022 when the pandemic-fueled homebuying boom was losing steam. He started exploring rental transactions to grow his business while the purchase market worked through a correction. His strategy was not to become a full-time rental agent but to build lasting relationships with clients who may eventually become buyers down the road.
Suber discovered that rentals could be an effective way to shore up future business from homebuyers amid worsening affordability in the For Sale market. The National Association of REALTORS® reported that housing opportunity in the rental market is growing as rents moderate and multifamily construction increases.
Suber found a benefit of his NAR membership through Rental Beast, an NAR REALTOR Benefits® partner. It provided him with an exclusive rental listings platform, FCRA-compliant rental application and tenant screening tools, and Rental Beast University for training and coaching from rental experts.
Rental Beast gave Suber access to approximately 30,000 listings, of which 13,000 were unique to Rental Beast in South Florida alone. Building a client base, Suber uses Rental Beast to nurture long-term relationships with renters and generate rental business to fill in the gaps between buying clients.
Thousands of REALTORS® are active users on Rental Beast, and that number is growing, according to founder and CEO Ishay Grinberg. He believes that rentals are becoming an integral part of a real estate agent’s business strategy and longevity in this industry.
Suber’s efforts have led to new business opportunities and the expansion of his scope of services. He can now market rental services as a value-add for his business, enabling him to add value to both renters and buyers.
Considering shortages of homes for sale, real estate professionals need to secure other sources of business. NAR Deputy Chief Economist Jessica Lautz predicts that bidding wars could intensify in a limited housing inventory environment, pushing home prices up in some areas. This is why Suber is preparing his business by getting creative and finding ways to get qualified leads on a consistent basis.