RISMedia's Real Estate Magazine

AUG 2019

Real Estate magazine is the industry's leading source for real estate news and information since 1980. Published monthly by RISMedia, Real Estate magazine offers timely and relevant real estate news to the industry's top brokers and agents.

Issue link: http://remag.rismedia.com/i/1146817

Contents of this Issue

Navigation

Page 28 of 118

24 August 2019 RISMedia's REAL ESTATE T he rental industry has always been challenged when it comes to empowering agents. That's how the idea for Rental Beast, an MLS for rentals to make agents' lives easier, was born, says CEO Ishay Grinberg. The agent-turned-broker became well-acquainted with rentals during the start of his career, and quickly isolated the pain point: a fragmented marketplace in which agents were unable to truly engage and succeed with rentals. Grinberg's first commission was a testament to the work that needed to be done from within the industry. After working three months as an agent, he made $182.50— little reward for someone who spent his first months on the job working as hard as anyone could work. "In my view, this wasn't a 9-to-5 job. It was eight days a week hustling as hard as I could, and that low commis- sion was very deflating," he says. And that's why he set a goal. "In any market we exist, we want to provide 100 per- cent of the total inventory of the rental marketplace. By doing that, we can supercharge careers," says Grinberg. "Commissionable transactions happen in three days in- stead of three months, or nationally six months—with immediate income, instead of an eventual $9K in first- year commissions." The biggest value-add for agents is in the data Rental Beast provides. "No other company has a robust, multi-sourced, con- stantly evolving repository of all things rentals. Our da- tabase is like a powerful pair of binoculars. With them, we see further down the road than anyone else," says Grinberg. With easier access to this information, today's agents can better leverage their tenant and rental listing pros- pects to build a profitable business. "In this way, Rental Beast makes a real estate career a reality," says Grinberg. "When you use the rental plat- form, you close rental deals in a few days and make ex- ponentially more income. Agents' commission income increases by 50 percent all the way to 500 percent, with an average increase of 102 percent over the first 12 months. We're pretty excited about that." Through Rental Beast University—an online edu- cation platform that helps agents maximize the soft- ware and their interactions through boot camps with one-on-one coaching, recorded webinars and resource guides—the true earning potential is highlighted. The key is taking advantage of the natural transition from renting to homeownership. "Ideally, we're teaching agents to see themselves as a business and think like a business," says Emily Train- or, director of Training and Education at Rental Beast, who adds that the majority of clients weren't receiving Magnifying a Hazy Rental Market Rental Beast hands agents their own pair of binoculars, putting SURÀWVLQIRFXV by Liz Dominguez

Articles in this issue

Archives of this issue

view archives of RISMedia's Real Estate Magazine - AUG 2019