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The housing market in 2021 is crazy! With low rates and a severely reduced housing inventory, there are tons of buyers and just not enough sellers. With housing prices soaring due to the high demand, you’d think sellers would want to jump on the chance of getting as much for their house as possible.
That same supply and demand discrepancy that'll net those amazing prices are also giving sellers cold feet. Many are afraid to sell their home only to be unable to find a house once they’ve moved out.
This puts realtors in a difficult spot. Buyers abound but few sellers are wanting to throw themselves into the fray. If only there was a way to set your sellers’ minds at ease with a simple housing solution for when they’re in between homes…
Oh, wait. Corporate housing!
How does Corporate Housing Get my Sellers Moving?
Well the problem realtors are having now is sellers don’t know where to stay while transitioning to a new home. This is especially true when the housing shortage means their search may take months, right?
What if you had a temporary housing partner in your back pocket to offer a stress-free, luxurious, 30+ day staycation while they wait to find and close on their new home?
That’s where corporate housing comes in. Corporate housing providers offer guests fully furnished temporary homes with all the bells and whistles. We’re talking resort-style pools, state-of-the-art fitness centers, modern interiors and even WiFi and Cable included in their spacious temporary apartments.
When that guest is your client, they are in an environment where they can enjoy the homebuying process, not just get through it. And that’s the key to locking in those sellers with cold feet!
How Else does Corporate Housing Help Realtors?
The current housing situation isn’t the only instance where a corporate housing partner can help you grow your business and save those sales that may otherwise be lost. A few instances when corporate housing can be leveraged in your favor include:
Closing delays come up, and sometimes there’s nothing you can do about it. Depending on the situation, these delays could take months. Having already sold their home, corporate housing and extended-stay hotels seem like the best option, unless the family wants to (unlikely) hole up with the in-laws for an extended period of time.
Extended-stay hotels will usually work fine for week-long stays, but they can become cramped if stays last any longer than that. Sticking clients in a pressure-cooker while they’re waiting through extended delays likely won’t result in happy clients and may send them shopping for a different realtor next time they move.
There are numerous factors to consider when choosing between a hotel and corporate housing. Get a look at these factors so you can make the right choice next time you’re shopping for long-term temporary housing in our article How is Corporate Housing Different from a Hotel?
New home construction
New home construction delays are not new, though we are seeing them more often now that supply chains in the construction industry are trying to catch up with the wild lumber demand. Pros and DIYers alike are having trouble sourcing lumber, and the added cost of these basic building materials are making building a new home more and more stressful for owners.
The double whammy of higher costs and construction material delays mean clients need as little extra stress added onto them.
Having a housing solution for when these delays come up will be a huge weight off your clients’ shoulders, making both your lives much easier.
Clients moving in from out of town
When clients move in from out of town, chances are they are starting from scratch with their house hunting. Sure they may have looked around online, but they’ll have no way of knowing what it’s actually like in their potential homes until they come to town.
Once their plane lands, however, they’re going to need a place to stay during the house hunting process and closing! Relocating your family is a lot more comfortable when staying in a two or three bedroom apartment than squeezing into a small hotel room.
As a realtor, you know being a partner to your clients is key to securing a long-term beneficial partnership and helping them stay with a corporate housing provider will keep them happy. It not only helps your client but makes you the hero.
Since home shoppers are usually required to make some concessions on their dream home when purchasing a new house, renovations are sure to follow, especially with the extra money they’ll pocket from these rocking house prices!
Renovation sometimes pushes homeowners out until construction is complete causing them to find some sort of temporary lodging. Luckily, you have the answer. Your corporate housing partner!
When your clients settle into their soft bed, stand on their private balcony, or sit down at their gorgeous kitchen island, you know they’ll be thanking you for getting them into such an amazing corporate apartment.
Want more details on how Corporate Housing can help you seal the deal? Read the article! How Corporate Housing Helps Realtors Save Commission.
Your Corporate Housing Partner
With the housing market giving sellers cold feet like never before, having a place for them to stay during their house hunting is crucial.
There’s going to be headaches and there’s going to be stress, so minimizing these allows your clients to focus on finding the perfect house while living their lives as close to normal as possible in their corporate housing home-away-from-home.
If you’re a realtor in middle America, ExecuStay Midwest may be the perfect corporate housing partner for you and your clients. With local teams in 15 cities through the region and hundreds of apartments waiting for your sellers, we are designed to make their temporary stay as smooth as possible.
I think this is the start of a beautiful friendship. Refer your clients with our simple referral form to get started. You’ll even get a referral fee if they book a 30+ night stay!