Make Money For Referring Apartments From Home
Did you know you can get paid to refer your clients to apartments? Before you start referring apartments left and right, make sure you are licensed with your state’s commission. If you are not licensed, read “How to get started in real estate.” Then you can come back and finish this post.
After reading this post you will:
- Be able to create a stable business you can run from home.
- Understand why and how apartments pay out for referrals.
- Make money with this simple process.
If They Can Do It, You Can Do It!
Have you seen companies like Apartment Finder, Apartments.com, Apartment list and others like these? These companies have made it to where their sites do the all the work if anyone uses them to find an apartment. After a client leases, those companies then send an invoice to the apartment for payment. This is usually 30 days after the client’s move-in date. These companies will then receive a check in the mail. There are also smaller companies that do the same thing. So how can you get in on this?
Let me show you!
Now that you have your license, you can start doing this from home. This is what you will need:
- A computer
- A phone
- Internet connection
That’s it! Find an apartment data provider in Houston. I personally use ApartmentData, and the best part is it’s free! ApartmentData includes a step by step questionnaire to go through with your client. Once you and your client have answered the questionnaire, a list of apartments will be generated. You can send this to your client through an automated email thats created by the software. It looks something like this – Prospect_Recommendation_List
Once you’ve sent the list to your client, you will receive a notification informing you when your client has opened the list. That’s a good sign for you to call your client and follow up to see if they need any updates or have any questions for you.
Remember to remind your clients to put your name in the referral box of the application. Call the property to confirm that your client has applied once your client has told you so. Wait 30 days or send the property an invoice 30 days after your client has moved in. The apartment software will auto-populate an invoice you can directly send to the property. Now you can sit back and wait for your comission check! We don’t live in a perfect world, so sometimes it will take for you to call the property to stay on top of your invoice. Unfortunately, some people don’t take their job seriously and your invoice can just get lost in limbo so it’s important you keep records of every unpaid transaction to follow up on.
These are the fundamentals. It is your job to come up with interactive ways to find new clients. There are tried and true ways to find clients online through social media, listing sites, etc. Rule of thumb is to always start with your friends and family, and make sure to let people know as soon as you start thinking about getting into real estate. Now that you have got all the basics, let’s go make money!