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6 Key People You Need on Your VR Real Estate Dream Team

Uncategorized Mar 16, 2019

Maybe you’ve heard the acronym T.E.A.M.

Together Everyone Achieves More 

It’s kind of cheesy but it’s true. Everyone does achieve more when you work together.

I can’t imagine trying to run my VR real estate business without my key people. In fact, they’re so important to the sale that if it wasn’t for how awesome they are at their jobs, I doubt I would ever be able to close a single deal or get any referrals. You need those awesome team players working for you too. . .

The good news!

None of them require a salary or paid vacation time from you. 

1. The Property Manager

The property manager is your best friend in these transactions. They are so powerful and so necessary in closing the deal. Without a great PM, your client may NEVER pull the trigger and buy.

The PM is the one who brings the assurance and safety factor into the transaction.

They’re the ones that sit down with your client and tell them “everything is going to be okay, we've got this.”

Your clients need to know that when that house closes it will be rented out and make them money. Your property manager has the ability to give them that assurance and can show them their plan and strategy on just how they do it.

Both you and your clients need to know they’re in good hands before they even write the contract.

 

2. The Mortgage Specialist

Most of the time you won’t need this person because a large percentage of vacation homes are purchased with cash but on occasion, this role needs to be filled and not by just anyone.

It needs to be filled with an awesome mortgage specialist who loves finding really great loans for fantastic international investors like yours AND at a low rate.

Like you, it’s a niche within their business but like you, there are the ones that specialize in just this and know it like the back of their hands.

Find that person and find them now. You need them. 

 

3. The Tax Accountant

The job that 90% of people never want to do.

Taxes!

It can be a real challenge to find accountants who will even work with foreign buyers investing in real estate but you will need to source that specialized tax expert.

Foreign buyers have a completely different set of taxation issues they have to be prepared to deal with, everything from death taxes to FIRPTA.

Clients will have to take on board a lot of new knowledge so your expert will need to take all of their tax fears and relay the information in ways they understand.

 

4. The Interior Decorator

This is the person who is responsible for outfitting the home and making it look just fabulous! So fabulous that the images in the online listing sites will blow away the competition.

The decorator will make sure that your client just loves the final result and is fully attuned to their emotional connection with the place.

The ones you select to be part of your team must be specialized in vacation rentals. They know what needs to be in there from the plates all the way down to the sheets.

This person will also thrill your clients when they find out that all of this material goodness can be done in just about any realistic budget. 

 

5. The Title Company

This should go without saying since almost all of the closing will be done by a title company and/or attorney however there are title companies used to dealing with vacation rentals who appreciate the issues that could come up, and how to deal with them quickly.

 

6. YOU

Yes, you!

Let's talk about you for a bit.

You need to be every bit as awesome as the rest of this incredible dream team that has been assembled here.

You need to know each one of their jobs so you can know if they’re doing it right.

You need to know when each person needs to be pulled into the transaction, and make sure your client is in full contact with the people they need to be connected with.

Without you, none of this dream team would exist for your client, so step back and pat yourself on the back. You’re a champion and your clients will feel like one too once they spend the first night in their brand new vacation rental that they purchased thanks to your help. 

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If you have these figures ready for your clients during your initial consultation, it will be the key to securing a contract.