Realtor Partnership

[stinsont]

I am in the midst of an expansion. We are somewhat overbuilding however the housing market is expanding in my area. Much of our business is proportionate to the real estate market...when they are busy we are. Recently I have contacted local realtors and told them that if a referral comes from them we will move their client to the top of our wait list and try to accommodate as best we can - gets them recommending us first!

For our new build I am considering setting aside units specifically for their referrals. Perhaps rent them a block of units for their exclusive use at a discount - at least until we fill the units. Additionally I am considering selling them advertising at my site. Perhaps a wrap with their logo on some doors and billboards on the buildings. Does anyone have experience with this type of marketing? Love to hear some input. TIA

[Storman]

I've been an active real estate broker for 35 years. One of the perks of listing your home with me is you get a free storage unit and a moving truck starting the month before we list the property through 2 months after the sale closes.

I don't offer other agents any perks, that one I keep to myself.

Be a little wary of the agent that refers the deadbeat renters to you, the one's they're evicting to sell the home or re-rent it to better tenants. You also might try finding an agent that will feed you new listings that come on the market, or set up your own Realtor.com search parameters. You can then send something to the property directly offering a discount for the first month to those that are selling and may need storage space. I know the moment we list a property the sellers get all sorts of moving advertisements and related services.

Also, agents want to be the hero with their client, so I'd set it up that if the client calls and mentions an agent's name they get a discount. Then the agent can throw his or her weight around and tell their client that they "know people" and can get them a deal by merely mentioning the agent's name. Makes them feel important.

[dieselrealtor]

Every market has differences. In my market what my experience has been as a broker for 26 years (not as long as Storman) & my tiny little storage place for 14 years is that most of the time the storage needs of sellers & buyers is a very short time, 30 days or so when they don't have back to back closings.

[KrisinCali]

We had a great real estate agent up in WA who rented with us bc they did their own staging, so they had two large units so they could come in (often renting our truck), and they were there ALL OF THE TIME bc of the hot Seattle market. They referred us OFTEN, it was a great relationship.

[helenatim]

I am sure that many of my Realtor friends and acquaintances send business my way which is greatly appreciated.
But my business relationship with the small moving companies in town seems even more valuable, perhaps because they contact me when they have clients who need storage. One of these companies has three employees and they must have a Uhaul truck at the ready every day. All they do is small local moves and I think they charge $90/hr plus the truck cost. I am constantly referring them when tenants need help unloading on site, moving in or moving out. And they bring me a ton of business in return. This is a relationship worth fostering.