“Converting a Rental Call”

“Converting a Rental Call”

We own a fair amount of rental properties and that means turnover of tenants and speaking to tenants. I field all the calls myself, something I truly enjoy doing.

 

I always want to get a firsthand impression of my possible new tenant. One part of the conversation has to do with their future desire to achieve home ownership and of course, my being able to do a mortgage for them.

 

I was returning such a call on my way home the other night and I asked the question about home ownership. Bill said, “We would love to buy a home but not sure we would qualify”.

 

We spent nearly a half hour on the phone. The end result was that I pre-qualified him for a mortgage and he and his wife are now home searching to own a home instead of looking for a rental. Once I sent him the letter he sent me the following note:

 

So far you’re meeting or exceeding my expectations..

 

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Joe Petrowsky, NMLS #6869

Right Trac Financial Group, Inc. NMLS #2709

110 Main St.

Manchester, Ct. 06042

Office: 860 647-7701 x116

Fax: 860 647-8940

Cell: 860 836-9294

Email: joe@righttracfg.com

www.righttracfg.com

www.joepetrowsky.com

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Joe Petrowsky does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied.

Equal Housing Statement: We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing becuase of race, color, religion, sex, handicap, familial status, or national origin.

Comment balloon 25 commentsJoe Petrowsky • March 22 2016 01:34PM

Comments

Hi Joe.  Like you I love converting tenants into home owners.

Posted by Conrad Allen, Webster, Ma, Realtor (Re/Max Professional Associates) over 1 year ago

Very nice, they found the right guy to work with when they found you Joe.

Posted by Roger D. Mucci, Lets shake things up at your home today! (Shaken...with a Twist 216.633.2092) over 1 year ago

Joe- what I love is how much you enjoy what you do. That comes through as witnessed by Bill's letter to you! 

Posted by Kathy Streib, Home Stager - Palm Beach County,FL -561-914-6224 (Room Service Home Staging) over 1 year ago

That's great Joe.  That would have made my day.  Have a great one today.

Posted by Women of Westchester Working Together, Women helping Women get ahead (Women of Westchester Working Together) over 1 year ago

You may have lost a prospective tenant, Joe, but also converted a happy future homeowner.

Posted by Gabe Sanders, Stuart Florida Real Estate (Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales) over 1 year ago

I have converted some renters. Owning a home is within most people's reach.

Posted by Peter Mohylsky, Your Bucket List Broker in Destin, Fl.. (BETTER HOMES AND GARDENS REAL ESTATE) over 1 year ago

Thank you for the inspiration. I should try to do the same. 

Posted by Gita Bantwal, REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel (RE/MAX Centre Realtors) over 1 year ago

I love when that happens. We recently closed a home in just the same way! Great feeling of service when that occurs!

Posted by Lise Howe, Assoc. Broker and Attorney Licensed in DC, MD, VA, (Long and Foster) over 1 year ago

Good morning Joe. A tenant or a mortgage customer? It all starts with some basic questions! Enjoy your day!

Posted by Wayne Martin, Real Estate Broker (Wayne M Martin) over 1 year ago

I love this kind of story. Helping them obtain their home rather than renting as long as it is within their comfort level and means is rewarding. 

Posted by Maria Gilda Racelis, Home Ownership is w/in Reach. We Make it Happen! (Home Buyers Realty, LLC-Manchester, Bolton. Vernon,Ellington) over 1 year ago

Meeting or exceeding their expectations! That is a great note to get. 

Posted by Kat Palmiotti, The House Kat (Grand Lux Realty, 914-419-0270, kat@thehousekat.com) over 1 year ago

Always good to exceed the highest of expectations from a client, Joe.

Posted by Ginny Gorman, Homes for Sale in North Kingstown RI and beyond (Phillips Post Road Realty ~ 401-529-7849~ RI Waterfront Real Estate) over 1 year ago

How nice Joe and I believe as you do that some tenant need to move into home buying. Have a wonderful Wednesday Joe.

Posted by Debbie Reynolds, Your Dedicated Clarksville TN Real Estate Agent (Berkshire Hathaway HomeServices PenFed Realty, Your Clarksville Real Estate Professional) over 1 year ago

So that's what you do, huh? Use your rentals as a lead source. Cool.

Bill Roberts

Posted by Bill Roberts, "Baby Boomer" Retirement Planner (Brooks and Dunphy Real Estate) over 1 year ago

Good morning, Joe --- that moment when a renter realizes that it is possible to become a homeowner is very special.   Good for you to being able to assist in making that happen.  

Posted by Michael Jacobs, Los Angeles Pasadena Area Real Estate 818.516.4393 (Coldwell Banker Residential Brokerage) over 1 year ago

Thanks for sharing this story. I have seen many rental prospects converted to home owners.

Posted by Roy Kelley, Roy and Dolores Kelley Photographs (Realty Group Referrals) over 1 year ago

Joe Petrowsky These calls must be considered 'Low-Hanging Fruit' for you. Not only that, you can convert real estate agents to use your services with the referrals. Sounds like a great business model!

Posted by Sandy Padula and Norm Padula, JD, GRI NMLS#1483386, Presence, Persistence & Perseverance (Realty One) over 1 year ago

So you lost a new tenant but gained a new client.  What a great day.  I'm sure you will have no problem finding another renter.  These folks must be very exicted.

Posted by Belinda Spillman, Colorado Living! (Aspen Lane Real Estate Colorful Colorado) over 1 year ago

Good afternoon Joe. It is nice to be in a position to help people in whatever direction they want to go.

Posted by Sheila Anderson, The Real Estate Whisperer Who Listens 732-715-1133 (Referral Group Incorporated) over 1 year ago

This shows your great skill Joe, good for you. People can learn so much from you.

Posted by Noah Seidenberg, Chicagoland and Suburbs (800) 858-7917 (Coldwell Banker) over 1 year ago

Hi Joe, many don't even know they can qualify to purchase a home, in this case, they were lucky to find you.

Posted by Beth Atalay, Cam Realty of Clermont FL (Cam Realty and Property Management) over 1 year ago

Joe you are always thinking out of the box and as a result developing new business.

Posted by George Souto, Your Connecticut Mortgage Expert (George Souto NMLS #65149 FHA, CHFA, VA Mortgages) over 1 year ago

Joe

When your converted the rental prospect into a home you help the prospect to get on the path of  home ownership.

Good luck and success.

Lou Ludwig 

Posted by Lou Ludwig, Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC (Ludwig & Associates) over 1 year ago

And if they don't qualify now, you can work with them over time while they do rent from you, and convert them later. Great way to grow your lending business.

Posted by Hella M. Rothwell, Broker/Realtor®, Rothwell Realty Inc. CA#01968433 Carmel-by-the-Sea over 1 year ago

Joe, meeting expectations is great, but exceeding them is certainly what I strive for. 

Posted by Nick T Pappas, Madison & Huntsville Alabama Real Estate Resource (Assoc. Broker/Broker ABR, CRS, SFR, e-Pro, @Homes Realty Group, Huntsville AL) over 1 year ago

Participate