Lynn Minnick

My $25,000 Commission From a Rental Call

Lynn Minnick

By Lynn Minnick

When I was a new agent back in 2000, I took a rental call. It was a young couple, around my age, looking for a rental in town. Once we started talking, they told me they could spend $1,400 per month. That was higher than my mortgage payment at the time, so I asked them if they’d considered talking to a lender about being approved for a mortgage. It hadn’t occurred to them that they could be homeowners for the same payment…and so our relationship started! I got them into an adorable little house by the lake and they began to build equity.

Fast-forward to 2014, when this week I’m starting my ninth transaction for them (including all of the referrals they’ve sent me). There’s a possible tenth transaction on the horizon if I can find the dream home for a friend of their family.  (Challenge accepted!)

I call them my “A+ Clients.”

We’ve been through a lot together – births and deaths, good markets and bad, and even though they’re now in their “forever” home, I know that all of the time and work I’ve put in with them will continue to bring business my way.  I’m happy to help anyone they refer, because I know they are quality referrals.

As a side note, if my A+ Clients hadn’t been able to qualify for a mortgage, I would have put them into a rental and kept in touch, because eventually (as Laura Rubinchuk Schwartz points out in a previous Lounge post), they would have become buyers. It’s a mistake for agents to place renters and forget about them. They just may be your next A+ Client.

Lynn Minnick is a REALTOR® in Connecticut known for her love of all things international, organic, travel and design. Connect with her at www.mygreenlifeandrealestate.com or @LynnMinnick.

Comments
  1. Great story Lynn! I’ve had many similar opportunities with clients over the years. No matter how uncertain I seem about someone in our initial meetings I remind myself of those buyers that have unexpectedly turned into “A+” clients as you call them. It can be hard when you’re starting out but you never know where one good connection may lead.

  2. Great story Lynn. Your thinking outside of the box and asking questions brought value to your client and to you too! Keep up the great work!

  3. Jonna Weber

    This is such a great reminder! Thank you for sharing – perfect for those of us the manage properties and are also agents!

  4. Carmella Snell

    Those A+ clients are the Best!!! They help us to make GREAT money from referrals!
    I always try to get everyone of my rental clients to talk to our in-house mortgage rep! Love that he’s so close by!!!

  5. Great story and commitment! It is hard sometimes to see the value in the buyer we let go or the listing we turned down, or in your case helping a renter. It’s even better when the client reciprocates!

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