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Sign into your accountBigger Isn’t Always Better
June 26 2012
This article comes to us from David Vivero, founder of RentJuice and VP of Rentals at Zillow.
When it comes to life as a real estate pro, it's not always the size that counts.
While listings with a "For Sale" sign in the yard yield higher commissions, they can take more time and effort to move. Supplementing income from home sales by raking in multiple, smaller commission checks can add up to a lot – and it's becoming easier to do, thanks to a growing renter population and new innovations that are popping up throughout the industry.
In the first quarter of 2012, the rental vacancy rate of 8.8 percent was 0.9 percentage points lower than the first quarter of 2011 and 0.6 percentage points lower than last quarter, according to numbers from the Department of Commerce's Census Bureau. Renting is on the rise, and the real estate industry is transforming to help brokers and agents meet the climbing demand. Multiple Listing Services are placing emphasis on rental listings data; companies like Zillow have added rentals to their "For Sale" inventory; and new players are emerging with technology offerings that allow for greater volumes, efficiency and precision.