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Looking to make the most of your open houses? The following three tips can help up your open house game.

  1. Digitize

For REALTORS® who want to enhance the Open House experience for prospects and bolster their own system for capturing leads, Open Home Pro fits the bill. An excellent alternative to paper sign-in sheets, this free download offers users the ability to create a comprehensive digital experience for prospects through sign-in forms, photo displays, customized questions, and automated thank you messages.

No more wasted time trying to decipher handwritten sign-in sheets that offer little other than a name and email. Based on your customized questions, this innovative program will send you a list of leads who don’t have an agent or have a home to sell, or who are pre-approved for a mortgage. Open Home Pro also allows users to easily export collected data to a CSV file.

  1. Deliver

Handouts make great icebreakers and takeaways at any Open House, and Realtors Property Resource® (RPR®) makes it easy to create them. The real estate data platform offers REALTORS® several customizable reports perfectly suited for Open Houses. Start by offering an RPR Property Flyer. Branded with your name and contact info, the flyer offers just enough data about the property to give clients a solid understanding of its attributes, including photos and insights on how you came to the list price via comps.

Two of RPR’s flagship reports seen frequently at Open Houses are their Neighborhood and School Reports. The Neighborhood Report presents an in-depth portrait of the people who live in a target area, in addition to key economic and quality of life indicators. The report also includes median list and sales prices, listings and sales volumes, and per square foot pricing on sold homes.

Similarly, RPR’s School Report report summarizes student populations, testing outcomes, parental reviews, and ratings about a public or private school. Must-have information for parents.

Here’s a tip: Print a few of these insightful reports to showcase on a kitchen table and when the supply dwindles, ask potential buyers for an email address. From that spot, use your tablet or phone to retrieve your saved reports from the RPR website and send it to the client in just a few quick clicks.

  1. Drip

Another radically simple idea for converting leads to clients post-Open House is to create a homes by email campaign. Here agents can send newly listed homes to prospects via an automated delivery system offered through their MLS. When a home is listed that meets your client’s specific criteria (location, square footage, number of bedrooms, price), the listing is automatically delivered to the client, complete with your personalized greeting. This type of drip campaign will keep your client in the loop and requires little to no effort on your part.

For more information, visit www.narrpr.com.

Posted on June 28, 2016 |

rookie-pic (1)Today I’m sharing an article originally posted on REM written by Joanna Dermenjian. This article explains the reality for new Realtors just starting out and the demands for any agent who wants to be successful in their new career. Enjoy!

Joanna writes:

You’ve passed your exam, signed on with a brokerage and received your license. Now, where is the instruction manual on how to be a real estate professional? There isn’t one! It’s Day 1 in your new career and you have no idea what to do, what to expect and how to get started. Here is what we have learned that you need to know:

Your first year will be very hard. If you make it through the first year and do 10 transactions, you have a chance to gain enough momentum to build a career in real estate. In the first 100 days, you need to gain traction. The clock is ticking, and the first 100 days are counting down. Get yourself one firm transaction and at least two more buyers you have already started working with in that first 100 days. There needs to be urgency in everything you do.

1. You are now a brand.

You are being watched – when you are out with friends, when you are eating in a restaurant, when you are shopping at a retailer or are receiving a service. Everywhere you go, people will start to know who are. They will watch you and listen to what you say and how you say it, even if you aren’t talking to them. Think about that.

2. You are a professional.

You want to be a very successful professional. Dress for the job. Arrive on time. Clean your car. Be organized. Be well groomed and presentable all the time, even in your leisure time. Behave.

3. You are a salesperson.

The public perception is that we sell houses, but truly we are selling ourselves. Our knowledge, our expertise, our competence. You don’t have those yet, so you have to work very hard to get them quickly. Until then, sell yourself as enthusiastic, hardworking, ethical and available, with support from a great brokerage and colleagues when you need assistance.

4. You are now a business.

Project your expenses for the year and your net if you do five sales in the first year, at the average residential selling price in your board area. Do a budget. Don’t spend money you have not made. Set up files, keep receipts. Remit taxes at source, HST and personal income tax. It is not your money and never will be. You do not want to be hounded by the CRA.

5. You are your own administrator.

Create an excellent calendar and keep a log. Write down everything you are doing in your business. Track where your time is going and what is bringing you success. Where are your leads coming from? What isn’t working for you?

6. You are your own PR department.

Write down the names and contact information of everyone you know and create a database. Grow your sphere of influence. Let everyone you meet know you are in real estate and ask them if they have a trusted real estate advisor, or if they would they consider working with you. Email or snail mail some information of value to your database at least once every quarter.

7. Project that you need to talk to 100 people about real estate before you get one firm transaction.

This doesn’t include friends and family, who may or may not want to do business with you. If you want to do 10 transactions this year, you need to talk to 1,000 people about what you do. If you don’t believe this, start counting.

8. Do 100 open houses this year.

Yes, 100. That is your magic number. It could be one or two or four a weekend. It could be some weeknights or non-traditional times. Try various times and see what works for you. If you don’t like open houses, go door-knocking. You need to talk to people face to face about real estate.

Don’t just do 100 open houses, do 100 great open houses. Quantity isn’t enough. Learn which agents have properties where you can host an open house and introduce yourself. Develop an open house plan for yourself, a system, to make sure you are well informed about the house, the neighbourhood amenities, recent neighbourhood sales and new listings. Preview the property. Spend two hours of prep time for each hour of every open house. Show the listing agent you are organized and committed. Arrive at least 15 minutes before you open – be there before the buyers! Treat each open house like a job interview. You are looking to find a buyer or a seller who will “hire” you.

9. Do floor time, duty.

Yes, it is boring to sit in the office waiting for someone to call, but many agents don’t show up so there is real opportunity here. It might not amount to a lot, but it gives you a chance to talk to more people about real estate. Study pricing or neighbourhoods while you are waiting for the phone to ring, not YouTube videos of cat capers. But don’t only do duty and don’t do it on weekend afternoons when you should be doing open houses.

10. Go to your weekly sales meeting and agent tour, if your brokerage offers it.

See as many houses as you can. Study the pricing, listen to what other agents are saying about the listing, research how the agent might have come up with the list price. Watch how much it sells for. You need to see a lot of houses before you can become good at pricing. Research neighbourhoods. Every week, study a new neighbourhood. Drive around, walk around. Learn amenities, schools, parks and places of worship. Study typical home styles. Study pricing history of that neighbourhood for the last 12 months. Next week, do the same for another neighbourhood. Next week, do it again, until you know the whole city this way.

And show up. The first few weeks can be very discouraging. Keep on with the basics. After awhile of doing the core things over and over again, something will take hold. You will find your niche, your best way of engaging with clients, and you can build on that. But it won’t happen if you don’t show up. You are a million times more likely to pick up a duty call if you are at the office than if you are sitting at home or hanging out around town.

A key tool for successful realtors is a real estate CRM. A CRM can be a game-changer when it comes to contact management, as it contains all your client contact profiles, can be setup with automated email and e-newsletter campaigns, and has reminders for your clients special events so that you’re always in-the-know! Try IXACT Contact real estate CRM. IXACT Contact offers Rookie Realtors a 6 month FREE trial! Sign up today and kick-start your new business!

 

lead conversion image

Getting prospects to convert is a challenge that all businesses face. Consumers have a lot of options, and they know it.

Persuading “fence-sitters” to pull out their credit card and pay for your product or service is a skill–and it’s a skill that will largely determine the growth of your business.

Some consumers are very well informed but still hesitate when it comes to buying.  They have an abundance of information available at their fingertips about all the products and services they could ever need and yet they remain reluctant to buy.

Others are ready to make a purchase, but aren’t being wowed by your sales process.

How do you handle a prospective customer who continues to sit on the fence?  Is it possible to nudge your lead towards making a buying decision without being too pushy?

The answer is a resounding yes. You can gently and successfully steer prospects towards making a purchase. Implement a few of the suggestions below and you will improve your lead conversion rate.

1. Keep Feeding Them (Valuable) Content

Content is the best way to make sure that leads have all the information they need about your products and services. In the past, direct mailers or newspaper ads may have done the trick but things are vastly different in today’s world.

The most basic way to showcase your business to potential customers is through your company website and email list. Having well-designed and informative content that’s published regularly is an absolute necessity. According to HubSpot, companies that publish 16+ blog posts in a month get 4.5x more leads than the companies that publish between 0-4 posts in a month.

hubspot study

Image: HubSpot

And this isn’t just for B2B lead generation. If you’re looking to convert visitors into leads and customers in a B2C niche, you can look forward to even better results as you add more conversion-focused content.

hubspot2

Image: HubSpot

When consumers want to find out more information about your products/services, it should be delivered to them on a silver platter right to their inbox.

Vary it up too. The right piece of content for some may be different than others. Here are a few examples:

  • Whitepapers
  • Case Studies
  • Demo Videos
  • FAQ Posts
  • Audiobooks /Podcasts

You can also publish all of this sweet content on your company website. Not only will this provide visitors with additional information about your products and services, it will also increase traffic to your site and grow your list.

2. Rally Around a Killer Media Personality

The primary problem with websites, blogs, and poorly handled email lists is that they’re somewhat impersonal. By using targeted and consistent (not to mention valuable) interaction, you can present a more personalized message to potential customers that may just give them what they need to buy.

People long for connection – it’s a basic human need. Consumers want to know that there are actual human beings behind the company logo and you have to nurture that need.

A person who feels connected to a company is more likely to buy and will often develop a sense of loyalty towards that brand. While it can be difficult to develop a relationship with consumers online, it’s not impossible.

There are a couple of ways to do it.

Socially

One way to establish a sense of relationship with potential clients is by maintaining active accounts on multiple social media platforms. Being active on social media actually humanizes your company to consumers; people feel like they have a connection to your company because they are updated regularly on your progress and they can engage with you easily online.

Giving social a personal feel is hard to scale, but there are a few easy ways to make an impact:

  • Highlight your fans that have gone through the trouble to reach out.
  • When you interact, go over the top. Shoot a response video or make it public on your other social channels.
  • Post regularly. Consistency is one of the best ways to build rapport.

Bonus Tip: Bestselling author and startup advisor Tim Ferriss gets over 1 million unique blog visitors per month. According to Ferriss, one of the main content strategy mistakes businesses make is leading with a boring trademark, instead of a magnetic personality.

Ferriss explains:

People prefer to trust other people, not brands (e.g. Steve Jobs versus Apple), so I have the advantage of being a single-person-based media provider. Brands can do this by singling out killer personalities to drive their brands (e.g. Bobby Flay for Food Network in the early days).

People want to follow humans, not trademarks. Plan accordingly.

Whether it’s you doing the talking or someone on your team, think about how you can showcase more (authentic) personality in your videos, emails, and webinars. Putting anyone on your team front-and-center–an expert, teacher, or podcast host-will help prospects connect with your business, and as a result, improve your conversion rate.

Email Marketing

Since emails are more exclusive than social media, customers feel as if you’re speaking to them directly. It’s also easier to scale. You can even set up a series of automatic emails to continue to engage clients over a long period of time, which contributes to the feeling of having an on-going relationship with your company.

All of that content can be delivered in the proper order (over time). One key to closing sales is demonstrating to the customer that your product/service fulfils an unmet need. Sending a personalized e-mail directly to the consumer right when they need it allows you to explain clearly how they will benefit from your services.

Building rapport in this way also ensures that the customer doesn’t forget about you. Social media and emails consistently remind potential clients of the products and services that you offer.

For a great example of rapport-based email copywriting, check out Perry Marshall. His emails sell digital marketing products and services, but they also connect with readers using storytelling, humor, and insights into the bigger “why” of business, including Perry’s philanthropic efforts. All of this adds up to deeper trust–and more conversions when it’s time to make an offer.

3. Use Social Proof

Social proof is when people take cues from others around them and make decisions based on what they observe.

Example: How many times have you bought something off of Amazon without taking a look at online reviews?

Customers want to be reassured that your company will reliably provide the products and services that you have described. Luckily, there are multiple ways you can provide social proof:

Testimonials: One of the most common means of social proof is the testimonial.  The best testimonials are those that talk about the issues clients were facing in the past and how your company resolved those issues. Testimonials can be featured on your website or included in those emails sent directly to the consumer.

Endorsements: You can see this type of social proof on virtually every book cover in existence. Publishers include quotes from well-known authors, journalists, critics, etc. praising the work in order to encourage browsers to become buyers.

Press Mentions: If your product is the subject of an article, whether it be in a trade magazine, local newspaper, or a major media outlet, it’s sure to boost your company’s social profile. Guest posts you’ve published are a common way to get those logos. An endorsement could easily sway those leads that are still wavering.

4. If Prospects are Lukewarm, Revisit Your Lead Conversion “Hook”

Copywriter Kevin Rogers advocates creating a “60-second sales hook.” If you struggle to convert visitors into buyers on your website, this can be a life-changing exercise.

It’s possible that your leads are unwilling to make a purchase because they aren’t sure how your product solves their biggest problem(s). Maybe they’ve checked your stuff out and read up, but they’re paralyzed with indecision and aren’t seeing how your product or service is unique.

Here are a few suggestions:

Keep Your Offer Simple

We’re being inundated by so much information that we’ve started scanning and skimming content to see if it’s worth reading it in its entirety.  This can present a problem when you’re attempting to make a sale, but the problem can be remedied easily through simplification.

Make your content easy on the eyes by breaking is up. Using different sized fonts to make sections stand out. Readers will be able to find what they need much faster.

Get Rid of Unnecessary Content

To simplify your message, you need to whittle it down to the essentials. The very basic requirements are acknowledging the client’s problem or need, explaining how your services address the problem or need, and asking them to take action. Be sure that all the communications you direct towards your customer are clear and concise. Their purchasing options should be laid out in an easy-to-understand format that allows little chance of misinterpretation.

5. Remove Their Risk & Create FOMO

These two items are lumped together because they deal with both sides of a basic human emotion, fear. If they fear the risk, comfort them into buying. If they aren’t taking your offer seriously, give them something to lose.

Taking Away Doubts

Moving leads over that final bump may come by eliminating any perceived risk of purchasing. The most straight-forward way to accomplish this is to offer them a guarantee. If customers are wavering and unsure about which company to hire, they will feel more secure giving their business to a company that provides them with an assurance of quality.

You can also answer those fears directly through a well-timed email (big surprise).

Putting in Some FOMO (Fear of Missing Out)

Creating a sense of urgency can have a direct and tangible impact on the amount of sales you make. There are several ways to accomplish this. One option is offering a limited quantity of product. If customers think that there’s a chance the product will “sell out” or end soon, they’re more likely to buy.

If your product is evergreen, don’t worry. You can offer a time-sensitive discount, free trial, or give a bonus to buyers in order to encourage purchases. Creating urgency brings your product to the top of your customer’s priority list and can convince otherwise indecisive clients to make a sales decision quickly.

A Reminder to Follow Up

So you’ve done all of the above and your lead still isn’t committing to buy. Well, don’t give up. Being persistent can most definitely pay off. You should continue to follow-up with your lead.

Depending on the price and use of your product(s), the buying cycle can naturally be over a year.

There are a lot of ways to keep your company in the forefront of the consumer’s mind without inundating them with the same dry sales pitches. Try sending out e-mails to mark special occasions, such as the customer’s birthday. You can also send messages that reflect the current season or up-coming events like Christmas or the beginning of the school year.

Take a look at your buyer personas and figure out the things that are important to your leads (hint: it doesn’t have to be related to your product or industry).

It can be frustrating when leads don’t convert directly into sales. Nudging a potential client over the line from indecision to satisfied customer may be difficult, but it can be accomplished with thought, care, and (most importantly) consistency.

This may take time, commitment and effort on your part, but the returns are well worth the investment.

And if you prefer to put your lead conversion on autopilot, check out Drip’s Visual Workflows. When you request a free demo of Drip, we’ll help you design campaigns visually for your business on a 1-on-1 call, so you can start converting leads into customers, 24/7.

Question for the comments: What are you testing right now to improve your lead conversion? What’s working well for you?

Web Sites For Selling Your Properties

1.Fsbo.com

2.Fsbosellbuy.com

3.Forsalebyownercenter.com

4.Ushomeassist.com

5.Isoldmyhouse.com

6.Owners.com

7.Homesbyowner.com

8.Craigslist.org (Use all cities within 150 miles of your property.You’d be surprised how far people will travel to buy retail and wholesale).

9.Ebay.com

10.Propbot.com

11.Creonline.com (check out their real estate clubs section which will give you a list of all the real estate clubs within your given city).

12.Oodle.com

13.Thecreativeinvestor.com

14.Trulia.com

15.Sellhomeshere.com

16.Dealmakerscafe.com

17.Totalrealestatesolutions.com

18.Propertysites.com

19.Privateforsale.com

20.Homeportfoliojunction.com

21.Repus.net

22.Realestate.yahoo.com

23.Realestate.aol.com

24.Listingofhomes.com

25.Realestate.msn.com

26.Privatesalereaty.com

27.Domesticsale.com

28.Fsboamerica.org

29.Zillow.com

30.Tourmeonline.com

31.Housevalues.com

32.Fromhomeowner.com

33.Fsbo.net

34.Virtualfsbo.com

35.Fastrealestate.net

36.Realtor.com

37.Backpage.com

38.Edgeio.com

39.Fsboi.net

40.Fsbolocal.com

41.Homes-for-sale-by-owner.info

42.Thehomelist.com

43.Talking properties.com

44.Shopdreamhouse.com

45.Buyowner.com

46.Fsbodepoe.com

47.Wantedtosell.com

48.Ushx.com

49.Realtymadeeasy.com

50.Postyourpad.com

51.Livedeal.com

52.Allstatesfsbo.com

53.Base.google.com

54.Fsbogorilla.com

55.Homesalez.com

56.Realestatemate.com

57.Real-estate-byowner.com

58.Homesellnetwork.com

59.Reachbuyers.com

60.Ownerwillcarry.com

61.Kijiji.com

62.Creiaonline.com

63.Olx.com

64.Fsboads.com

65.Virtualfsbo.com

66.Fsbon.com

67.Byowners365.net

68.Neorealestate.com

69.Byowner.com

70.Forsalebyowner.com

Nothing can kill a sale faster than a dated, closed-in kitchen area. Many of today’s buyers see the kitchen as the home’s command center, and not just a place for cooking and eating. They want the kitchen to be many things at once, hence the rise in popularity of what is known as the multifunctional open-concept kitchen.

Read more: 9 Modest Fixes for the Problem Kitchen

If your clients are looking to renovate an existing kitchen, or you need to advise them on building one that’s brand-new, the Washington Post shared some background on how they can design a kitchen space so that it’s functional in many different way.

“Whether you are renovating existing structure or building new, architects fully recognize the need for space that is designed for movement and flow,” says Stephanie Brick, senior designer at Sustainable Design Group, in Gaithersburg, Md. “There are still rules and important elemental guidelines — you do not want to just delete all of the walls on your first floor. But by being selective in the design, materials and professionals you work with, you can easily achieve a space that does not merely react to, but anticipates, your bustling lifestyle.”

The two main considerations when designing a multifunctional space are wall placement and storage. While it may seem like an easy solution to knock down walls, Brick says there are other architectural solutions, like open doorways, that can give a similar effect while keeping the space architecturally interesting.

Being as honest as possible about individual organizational and storage needs is key when creating a multifunctional kitchen. For some owners who want to use the kitchen as a makeshift homework area or as a place to handle their bills, adding storage for these needs will be necessary. If your clients do a lot of cooking and entertaining for large groups, they will want to make sure the kitchen has space and storage to accommodate that process. If the family has small children, the kitchen can be designed with their safety in mind.

Brick has one final piece of advice when designing this type of kitchen space. “Honesty with your architect is key to creating a strong working relationship and delivering an equally beautiful and functional space in your home.”

Source: “How to create a live/work/play space at home,” The Washington Post (June 8, 2016)

via Now Trending: The Multifunctional Kitchen | Realtor Magazine

Seller Financing

In some situations, sellers are lining Lending Standards, Seller Financing. CFPB
Finalizes Loan 2013, The Consumer Financial Protection Bureau
www.realtor.org/topics/seller-financing – 2012-03-15

Seller Financing May Be Worth Exploring | Realtor Magazine

In today’s stymied real estate market, lenders are more cautious about making loans and sellers are more inclined to agree to carry financing to sell their properties more quickly. Here’s a look at how installment sales could work for your clients.
realtormag.realtor.org/law-and-ethics/law/article/2008/12/seller-financing-may-be-worth-exploring – 2008-12-01

Get Seller Financing to Work for You | Realtor Magazine

Seller financing has been a hot issue in recent real estate news due to the changes in regulations, specifically in the Dodd-Frank Act. Here’s what you need to know to incorporate this method into your business strategy and be the best advocate for your clients.
realtormag.realtor.org/law-and-ethics/feature/article/2015/04/get-seller-financing-work-for-you – 2015-04-06

Seller Financing: Background

Seller financing is subject to new rules following the passage of financial reform legislation. Know these changes in order to serve sellers better.
www.realtor.org/topics/seller-financing/background – 2012-01-17

My Account

Seller financing plays an important role in financing the sale of real estate, especially when credit is tight. This paper summarizes the impact of two federal laws that affect seller financing. Seller financing plays an important role in financing the sale of real estate, especially when credit is tight. This paper summarizes the impact of two federal laws that affect seller financing.
www.realtor.org/reports/seller-financing-impact-of-the-safe-act-and-the-dodd-frank-act – 2012-01-12

Sales Clinic: Expand Your Market with Seller Financing | Realtor Magazine

Are there any creative ways to sell a home that will maximize the salesperson’s value? —Timothy Baker, RE/MAX Affiliates, Naperville, Illinois If you want to be a top salesperson, you always have to be on the lookout for new and creative ideas to set yourself apart from the pack.
realtormag.realtor.org/…/feature/article/1999/12/sales-clinic-expand-your-market-seller-financing – 1999-12-01

Ways to Protect Yourself Under Seller Financing | Realtor Magazine

TIP: Instead of taking back an installment loan, per se, have the buyer purchase an annuity or some zero-coupon bonds in your name. These can often be bought at deep discounts to eventual payout, lowering the sale price, but guaranteeing you a higher future return.
realtormag.realtor.org/…/sell-your-business/article/ways-protect-yourself-under-seller-financing

NAR Submits Comments on CFPB’s Proposed Seller Financing Rules

On Oct. 15, 2012, NAR President submitted comments to the CFPB on its loan originator proposed rule. On Oct. 15, 2012, NAR President submitted comments to the CFPB on its loan originator proposed rule.
www.realtor.org/articles/nar-submits-comments-on-cfpbs-proposed-seller-financing-rules – 2012-10-19

Sellers Can Fill a Void | Realtor Magazine

If you’re working with sellers who have seen offers collapse because buyers can’t get a mortgage loan, you might want to suggest they consider offering some variation of seller financing.
realtormag.realtor.org/law-and-ethics/law/article/2011/07/sellers-can-fill-void – 2011-07-01

Seller Financing: The SAFE Act

In 2008, President Bush signed the Secure and Fair Enforcement of Mortgage Licensing Act or SAFE Act, which requires licensing and registration of loan originators.
www.realtor.org/topics/seller-financing/the-safe-act – 2012-03-15
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Looking for something else? Search the archive for many resources created before 2009.

 

Field Guide to Lease-Option Purchases

(Updated April 2016)

Lease-option agreements* are common when acquiring personal property—such as dishwashers, washing machines, automobiles, and TVs—but are not as common for the acquisition of real property. Lease-option agreements are generally utilized in residential real estate acquisition when a home buyer would like to purchase a home, but needs to repair her credit rating in order to secure a promissory note and mortgage. The lease-option agreement allows a buyer to lease a property for a set period of time—typically between 1-3 years—with the option to buy the property at a contractual future date. “The negotiated option is typically a percentage of the price for example, one to five percent, and is credited, along with the rents and a rent premium, to the purchase price if the lessee buys the property. If the option to buy is not exercised, the buyer will lose the option fee and rent premium.” (Real Estate Law (link is external), p. 227). Read the articles below to learn more about this alternative real estate financing option. (H. Hester, Information and Digitization Specialist)

*Also known as lease-to-own, rent-to-own, lease/purchase, lease with an option to purchase, or real options.


E – EBSCO articles available for NAR members only. Password can be found on the EBSCO Access Information page.


Lease to Own: The Basics

Is rent-to-own the future of housing? (link is external), (HousingWire, Jan. 14, 2016).

Investors Bank on Rent-to-Own Comeback (REALTOR® Magazine, July 29, 2015).

How do Lease Purchase Agreements Work? (link is external) (SFGate, n.d.).

How Do I Get a List of Rent to Own Homes? (link is external) (realtor.com®, July 25, 2012).

How Do I Find A Rent To Own Home In Bristol, Pennsylvania? (link is external) (realtor.com®, May 10, 2012).

How Do I Find A Realtor To Explain The Rent To Own Option? (link is external) (realtor.com®, Apr. 6, 2012).

Lease-to-Own Contracts (link is external), (UCLA School of Law, 2012).

Lease options are back: proceed carefully (link is external), (Realty Times, Oct. 25, 2011).

Sale-Leaseback Transactions: Price Premiums and Market Efficiency (link is external), (Journal of Real Estate Research, Apr.-June 2010). E

Informal Homeownership in the United States and the Law (link is external), see page 132. (University of Texas School of Law, 2010).

How lease-options benefit sellers, buyers … and their REALTORS®? (link is external), (CRE Online, n.d.).

Thought about lease-to-own transactions?, (REALTOR® Magazine – Speaking of Real Estate blog, Aug. 6, 2009).

Renting to Own (link is external), (realtor.com®, n.d.)

Case Studies & Examples

A Valuation Framework for Rent-to-Own Housing Contracts (link is external), (The Appraisal Journal, Summer 2014). E

Lease-to-own deals offer options in sluggish Tampa Bay housing market (link is external), (St. Petersburg Times, Oct. 23, 2011).

Can I get a lease option with bad credit? (link is external), (realtor.com®, May 5, 2011).

A Growing Housing Imbalance (link is external), (Mortgage Banking, Oct. 2011). E

Raising Capital Through Sale-Leasebacks (link is external), (Public Management, June 2010). E

Tax Implications

Individual Taxation Developments (link is external), (The Tax Adviser, Mar. 2012). E

Comparing Accounting and Taxation for Leases: Certified Public Accountant (link is external), (The CPA Journal, Apr. 2009). E

Tax Considerations for Buying and Selling Property with a Burdensome Lease (link is external), (Journal of Accountancy, 2009). E

Government Publications & Programs

State Agency Lease/Purchase Program (link is external), (Washington State Treasurer’s Office, n.d.).

Recent State Agency Lease/Purchase Interest Rates – Real Estate Only (link is external) (Washington State Treasurer’s Office, n.d.).

Definition from Washington State:

Lease/Purchase Obligations (Real Estate) — Lease/purchase obligations are contracts entered into by the state which provide for the use and purchase of real or personal property, and provide for payment by the state over a term of more than one year. For reference, see RCW chapter 39.94 “Financing Contracts.” Lease/purchase obligations are one type of lease-development alternative.” (Financial Budget Instructions Glossary of Terms (link is external), Washington State Office of Financial Management, n.d.).

Non-Mortgage Alternatives to RE Financing (link is external) from Reference Book – A Real Estate Guide (link is external), (California Department of Real Estate, 2010).

LFC Hearing Brief (link is external), (New Mexico Legislative Finance Committee, Dec. 2007).

Instructions for the Lease/Purchase Analysis Modeling Tool (link is external), (Idaho State Leasing Dept. of Administration, n.d.).

eBooks & Other Resources

The following eBooks and digital audiobooks are available to NAR members:

eBooks.realtor.org

Smart Guide to Real Estate: Step by Step Rent to Own, (Kindle and ePub)

Investing in Rent-to-Own Property, 2010 (ePub)

Investing in Real Estate With Lease Options and “Subject to” Deals, 2005 (ePub)

Books, Videos, Research Reports & More

The resources below are available for loan through Information Services. Up to three books, tapes, CDs and/or DVDs can be borrowed for 30 days from the Library for a nominal fee of $10. Call Information Services at 800-874-6500 for assistance.

Who Says You Can’t Buy a Home! (link is external) HG 2040.5 R25w (2006).

Field Guides & More

These field guides and other resources in the Virtual Library may also be of interest:

Sale-Leasebacks & Synthetic Leases

Seller Financing

Information Services Blog

Have an Idea for a New Field Guide?

Send us your suggestions (link sends e-mail).

The inclusion of links on this field guide does not imply endorsement by the National Association of REALTORS®. NAR makes no representations about whether the content of any external sites which may be linked in this field guide complies with state or federal laws or regulations or with applicable NAR policies. These links are provided for your convenience only and you rely on them at your own risk.