What Is a Military Relocation Professional (MRP)? 

A military relocation professional is a certified real estate agent who helps current and former military service members find suitable housing. Their specialized knowledge and training in the military home search process make them the best choice for military relocations. Essentially, they are supportive guides, helping their clients navigate the world of military real estate with confidence and reassurance.

Most individuals who work with military personnel have an MRP certification that showcases their expertise in this field. It helps realtors understand how to work with US service members, their families, and veterans to find the best housing solutions and maximize benefits and support.

Benefits & Reasons Why Military Relocation Is an Ideal Niche

Considering the benefits of becoming a realtor military relocation specialist? The Military Relocation Professional (MRP) Certification Course is an approved elective for the Accredited Buyer’s Representative (ABR®) and Seller Representative Specialist (SRS) designations. This role offers a rewarding career serving military families and gaining valuable expertise working with the military community. It can open up new opportunities in your real estate career and allow you to make a meaningful impact.

• Expand knowledge: Understand how military relocation processes and procedures affect service members’ housing choices and learn about the transaction process. 
• Provide valuable service and information: Provide valuable information and services to help members decide about renting, buying, selling, or renting out property.
• Learn financing options: Explain the basics of VA financing.
• Military personnel are always on the move: They often must move to new locations because they receive permanent change of station (PCS) orders. They might not have been to these places before, so they need help finding housing from experts.
• Easy financing through VA loans: Another reason is the ease of funding through the Department of Veterans Affairs loans. Zero-interest loans are an even bigger deal in our current lending environment! 
• Military personnel have recession-proof jobs: Regardless of the big economic picture, the military won’t be laying anyone off. Those actively serving in the US military have guaranteed roles, many of which require them to travel and relocate regularly.

Steps to Building a Career as a Military Relocation Professional

Now that you have mastered the fundamentals of how to become a relocation specialist, let’s dive into how to kick off your journey of working with service members to see if it’s the right fit for you. Here’s a rundown of the process:

Step 1: Learn the Skills & Requirements to Work With Service Members

Before you get too excited and start packing your bags, you should know the three basics you’ll need to start working as a military relocation specialist: 

• You need to live near or relocate close to a military base: Military people move to locations with bases for work. You can’t do military relocations if bases are inaccessible. The biggest bases are Fort Bragg, North Carolina; Fort Cavazos (formerly known as Fort Hood), Texas; and Fort Campbell, Kentucky. There are many smaller bases, too. Use this map from Military.com to locate them.

• You need a solid online presence: An online presence as an MRP is a MUST for working military relocations. You will have difficulty generating military leads if you don’t have a website and strong social media skills. 

• You need to be highly organized and work within deadlines: The US military usually pays for a few weeks at a hotel for active-duty service members who are PCSing to a new location. That’s not very long, considering that the escrow process can take up to 45 days in some areas. Therefore, you need to work FAST. 

Step 2: Earn an MRP Certification 

Curious about how to become a relocation realtor for military personnel? A one-day course is the foundation for the Military Relocation Professional (MRP) certification, available online and in-person to accommodate your hectic schedule. Upon finishing the course, you can apply for realtor MRP certification. Although it is not required, it is highly encouraged.

Once certified, real estate agents are included in NAR’s MRP realtor search, making it easier for military buyers and sellers to find them. While the MRP certification is beneficial for working with military clients, it’s not mandatory. A solid online presence and good branding are crucial for attracting military leads, as service members often start their home search online.

Step 3: Use Lead Generation & Marketing Strategies to Attract Military Buyers & Sellers

Marketing to service members is similar to marketing to any buyer or seller. However, there are a few marketing strategies that I’ve found are perfect for generating military leads. Here are my favorite ways to market to military personnel: 

Create an Effective Online Presence

While it’s not 100% necessary to have military pictures and pages on a website, military-specific information will help you gain trust and be more relatable. When military buyers and sellers search for help finding a home, they seek agents who understand their unique needs.

Consider implementing these seven strategies to help your website cater effectively to military personnel:

• Providing downloadable guides on military relocation and VA loans.
• Highlighting properties near military bases.
• Writing blog posts on relevant topics like home prices and best neighborhoods.
• Offering virtual property tours.
• Sharing testimonials from military clients.
• Collaborating with military relocation specialists.
• Using interactive maps and area guides.

AgentFire offers a cost-effective platform for agents to customize their online presence with various templates, tools, SEO capabilities, built-in lead generation tools, and easy integration options. It empowers agents to build their own marketing and lead generation system.

Use Targeted Keywords on Your Website

Many buyers use real estate keywords like “homes for sale in Austin,” but military members often use specific terms like “PCS to Oahu” or “homes near Joint Base Lewis McChord.” If you’re creating blogs or web pages for military buyers and sellers, use the targeted keywords below to attract the right audience.

• real estate military relocation specialist
• military move real estate agent
• military real estate expert
• active duty military real estate agent
• VA loan real estate military
• military veteran real estate agents
• military discount real estate
• military real estate investing
• military relocation real estate agent
• real estate agents for military families
• military base real estate
• Oahu military real estate

Share Relevant Info on Social Media

Think of your profile as a small website and share helpful content. If you work with military clients, share information like the amount of traffic, home prices, or the good and bad about buying new houses. Another excellent social media technique is to use essential words to help people find you. Even simple drive-by videos on Instagram could help someone who wants to know about a place.

Host Local Events

Hosting client appreciation parties, community events, or housewarming gatherings provides opportunities to connect with potential clients in the military community. The events allow for casual conversations in fun settings and are often photographed and shared online, giving you greater visibility. Consider using props with your logo, Instagram handle, or name to promote your brand in the photos. You can also do themed events for Veterans Day, Armed Forces Day, Memorial Day, and Military and Military Spouse appreciation months.

Share Client Testimonials & Reviews

Testimonials are a great way to generate new military business. While we may not think anyone reads them, buyers and sellers do. They are our stamp of approval as agents. Once you close transactions with military clients, ask for client testimonials to help build trust and credibility, leading to your next deal.

Step 4: Begin Working With Military Buyers

As with any real estate niche, chances are you will have to start working with buyers until you build up enough experience to become a listing agent. The process of working with military buyers is a little bit different from working with regular buyers. Here is a quick rundown of how the military buyer lead process works:

Contact a Lender Who Has Experience With VA Loans

Even if the client’s PCS move isn’t happening for a few weeks or months, it’s always good to begin the process by contacting a lender who specializes in VA loans. The loan officer will provide preliminary information for the preapproval process to determine which loan product will be the best for your clients and what purchase price to stay at or below. 

While not all military buyers take out VA loans, it is one of the most common mortgage loans used by buyers in the military. It’s also a 0% interest loan. How amazing is that?

Educate Them on the Pros & Cons of Buying vs Renting

Many service members are first-time buyers, and others might prefer to rent, but long-term plans often vary. When consulting with new military clients who may be on the fence about buying or renting, educate them on the possibilities.  

Since many military buyers use their 0% down VA loan benefit to purchase homes, it generally takes a little longer to build enough equity to cover selling costs (to at least break even). Going over the pros and cons of buying and understanding their motivation to purchase or rent and their plans will unlock information that helps your clients make the right decision. 

Take Them on Property Tours (Virtually) 

If you are unfamiliar with tech tools to help with showings and sight-unseen transactions, you must learn these when working with military buyers. Here are a few ways to show homes virtually: 

• Live streaming vs recorded video: When possible, do both. FaceTime, WhatsApp, and video calls via Facebook Messenger are great for connecting live with your clients while showing the home. However, these live videos disappear, leaving nothing to go back to. 
• Record a 10- to 20-minute video: Upload your video walkthrough to Google Photos, Dropbox, or iCloud, then send a link. A video can be played and replayed, so there is a huge benefit to one long video over a bunch of short clips. This will make you stand out for going above and beyond. 
• Compile DIY research links: Recommend Google Maps and Google Earth and send links to transportation, shopping, the local police site, and any additional websites or apps that will make long-distance purchases easier for the clients.

Don’t try to censor from afar. It’s much better to find another home than to have an unhappy client once they see the place for the first time. Integrity is key. Future referrals will flow to honest agents. Just don’t forget to add the sight-unseen addendum where applicable!

Step 5: Start Working With Military Sellers

Once you have experience with military buyers, start working with sellers. Selling a service member’s home is nearly identical to any real estate transaction, with one key difference: Active-duty sellers often know in advance that they will be PCSing and prepare for the sale early. Military sellers usually contact their original agent for help with the sale if the agent is still connected with them. Putting your past buyers on a drip campaign is so important!

Connecting through Facebook, newsletters, and Instagram is an easy way to stay in touch. There is also that thing called the phone. It’s only a matter of time before your clients move again. Then, only one question remains: “Are you going to be selling or renting your home?” Happy Grasshopper is designed specifically for real estate agents. It offers prewritten email campaigns, lead nurturing automation, and integrations with popular real estate CRMs like Follow Up Boss and Wise Agent.

If you have doubts about working military relocations (hey, it’s not for everybody), check out our other real estate career paths, such as becoming a commercial real estate agent and a luxury real estate agent.

Frequently Asked Questions (FAQs)

What is an MRP specialist?

How do I become a military relocation specialist online?

What is the military on the move designation?

Bringing It All Together

This article offers valuable insights into the skills and knowledge necessary to succeed in assisting military families during relocation. It emphasizes the importance of understanding military families’ unique needs and challenges during moves. It also provides a comprehensive overview of becoming a certified Military Relocation Professional and highlights the critical factors for a successful MRP career. Have questions about building a career working with active-duty military personnel? Leave your questions in the comments below!

The post How to Become a Successful Military Relocation Professional (MRP) appeared first on The Close.

1. Vacation Rental Investors

Many first-time homebuyers are on the sidelines, strapped by the current interest rates coupled with historically high home prices. So, if your focus has been on first-time homebuyers, it might be time to pivot to a niche that’s less affected by the current market. Thankfully, short-term rentals (STRs) are still lucrative, even in the current economy. 

It’s true that escalating home prices, along with increased regulations and fees, have slowed the STR boom of 2021. But, as you can see from the infographic above, that leveling out will turn down the crazy and keep a lot of people who shouldn’t invest out of the pool, making it easier for serious investors to buy properties smartly.

And your expertise around your market’s permits, demand, and fees for STRs and vacation rentals will set you apart from other agents. You can become the one investors turn to for accurate market updates and listings. 

How to Start Working Rental Property Investors

First, make sure to familiarize yourself with your market’s regulations and restrictions for vacation rentals. There are usually different rules for long-term vs short-term rentals, so get to know your community’s permit requirements along with the amount of any fees.

You also should enroll in a few continuing education classes through your association that deal with short-term and long-term rentals, investors, and even try dipping your toes into some commercial real estate classes. If vacation rentals aren’t your thing, you can also consider other types of real estate investing. Gain as much knowledge as you can around real estate as a business.

You’re bound to have a community group that stays in touch on Facebook—or even in person—that you can join. Bigger Pockets is a good place to start looking if you’re not sure where to start in your market. But if you search Google for real estate investment groups in your area, you’re bound to turn up a few more options. Once you join a group, get involved in discussions, offering your real estate expertise. Become the knowledgeable agent in the room that people come to with their questions. 

Get a head-start by learning the BRRR (buy, rehab, rent, refinance, repeat) method for investors by downloading this e-book from Kiavi. You’ll be the agent everyone turns to when you learn the ins and outs, pitfalls, tips, and financing secrets of successful real estate investors.

2. Rentals

This summer, median home prices increased nearly 2% from one year ago to $406,700. And with mortgage rates currently sitting around 8%, this puts homeownership on ice for many. That leaves more people flocking to rentals. The rise of “digital nomads” as a lifestyle also means more people are looking for housing options that allow them to travel around the country and the world. This means working rentals can become a lucrative niche for agents in 2024.

When I was an agent in New York City, I made $1,500 to $3,000 per closed rental transaction. Agents who worked high-end exclusive rental listings sometimes collected five-figure commission checks from one closed rental deal. While results like these might not be common in all rental markets (it’s New York City, after all), it proves that rentals can be very lucrative for real estate agents. 

There are two ways to do this in smaller markets: 

1. Increase volume

2. Get exclusive rental contracts with developers

How to Start Working Rentals

If you’re working in a market that focuses on high-end luxury rentals, you can join a brokerage that focuses on rentals to tap into that market. If you’re not, get licensed in property management if your state requires it and start pitching builders and developers.

With the market cooling in many areas, homeowners may need to temper their expectations. But if they’re needing to leave the area (say in the case of a military permanent change of station move or new job), you might offer to manage their home as a rental. You’ll be helping your clients start or build a rental portfolio while you also expand your experience and skill set. 

One of the easiest ways to stand out in the crowded property management market is to sharpen your digital marketing skills. Create a website where you can showcase rental properties and drive traffic from your marketing efforts, then offer to build one for free for a local developer.

If you want to work the sales side, start educating your sphere on real estate investing with an eye toward renting. You can get started with these deep-dive articles on real estate investing from Sean Moudry:

3. Military Movers

Speaking of permanent change of station (PCS) moves, one group who will move no matter what the economy is doing is the active-duty military members. They don’t pay for their move, and they have to go when they get PCS orders from military officials. So, you can always count on members of the military moving every few years. 

Most military members will get orders in the spring for a summer move. So, summers are typically busy with PCSers. But there’s also a secondary PCS season that many overlook: end-of-year moves. It’s not as busy as the summer, but there is a substantial number of military folks who get orders to pack up during December. 

The best part of military movers is they typically use their Veterans Affairs benefits, which allows them to get a mortgage with zero down payment. That makes buying a home in their new duty station easier since they won’t have to come up with a substantial amount of cash to buy. Military movers also make a great niche for you because when their tour is up and they have to PCS again, usually within a few years, they will most likely reach back out to you to either sell their home or help them set up the home as a rental property. 

How to Start Working Military Movers

If you live near a military base, this niche will work for you. Start by learning about the military community and familiarize yourself with their lingo. There are a lot of acronyms military members throw around, and you want to sound like you know what you’re talking about. 

You can also become an MRP, or military relocation professional. It’s a designation that will take about a day to acquire. Once you learn the language and get that MRP, join the military base groups on Facebook (particularly the spouses’ groups) and get to know your local military community. 

You can also create social media content educating those moving to your area. Remember, these folks PCSing to your market know practically nothing about it. You can share information about different communities, what it’s like to live in your city, steps for the homebuying process, how to use VA benefits on real estate, and so much more. 

If you really want to dive deeper into the steps involved in the military movers niche, check out this in-depth article from Kinga Mills:

4. Probate Sales

When a homeowner dies, a property typically has to go through some type of probate court before it can be conveyed to a surviving family member or person named in a will. Often, a home is left to a spouse or adult children, who then need to sell the home and share the proceeds from the sale. 

These are the people who need your help. Adult children, in particular, will need a professional to help them get the home on the market, especially if they don’t live in the same area as the home. And if you can help them sell the property quickly, getting them through a tough time in their lives, they will be forever grateful.

How to Start Working Probate Sales

Getting into probate can be a little tougher than some other niches listed here, but it’s not as difficult as you might think. The first step is to familiarize yourself with the probate process. You can check your local association to see if they offer courses to understand probate. 

After you’ve learned more, you might consider reaching out to probate attorneys and pitching your services to them. It never hurts to establish yourself in your community, make connections, and build relationships. Even if one of the attorneys is working with another agent right now, they may end up with more work than the one (or two) agents can handle. 

If you really want to up your probate real estate game, you might consider checking out predictive analytics software that can actually find them for you before anyone else has a chance. Catalyze AI utilizes event-driven data to send you listing leads. You can be the first agent to reach out and get a jump on the competition.

5. Vacation Homes

Vacation communities—like The Hamptons in New York, or the beach houses of Clearwater, Florida—will continue to be an excellent niche for agents. Many of these communities saw the largest influx of new buyers in 2020. But even in the current sluggish market, the vacation home market will continue to draw those who can afford this lifestyle.

How to Start Working Vacation Communities

If you work near a vacation community and have the listings in your MLS, start marketing them to potential buyers using an IDX website. The idea is to curate listings from a vacation destination to a page on your website using IDX widgets, then drive paid and organic traffic to that page. If you don’t already have an IDX website, use this as an excuse to finally build one. You can learn how here: How to Build an IDX Real Estate Website: The Ultimate Guide.

In your marketing, promote the lifestyle more than the listings. Remember, this niche is all about the idea of getting away from the hustle of everyday life. They want to see the dream. For inspiration, check out Michele Bellisari. She’s a pro at promoting the Boca Raton lifestyle in her social media marketing.

6. Luxury Real Estate

No matter what the market does, the wealthiest will always use real estate to build more wealth into their portfolio. So if you live near a luxury area, like New York or Los Angeles, chances are inventory is ridiculously tight, and many homes may be selling above asking price. But luxury isn’t confined to only the biggest cities. You can find luxury in many areas, including the mountains and the beaches. 

How to Start Working Luxury Real Estate

Finding luxury buyers to work within this market is relatively easy. You can advertise on Facebook or Google, network, or just join a luxury team. You’ll want to give your branding and marketing materials a bit of a polish before you start, though. A strong brand is far more important for agents transitioning to luxury.

For listings, the road is rougher but possible. If you’re serious about transitioning to luxury listings, check out Sean Moudry’s excellent article below. Sean has been in real estate for 29 years as a broker, coach, speaker, author, and consultant, and he has a wealth of experiences to share.

7. FSBOs

Some agents shy away from working for sale by owner (FSBO) listings because they believe iBuyers are snatching up all the inventory. But not so fast! We’ve seen Redfin, Zillow Offers, and a handful of other iBuyer models fold or pull back the reins on home purchases. 

So, FSBOs are still in play and can be a plentiful source of listing leads for any resilient agent. It makes sense when you think about it. The market is cooling, and homeowners still haven’t learned how to sell houses. So, while investors may still be a factor, learning to pitch FSBOs can put agents ahead of the game. 

How Agents Can Start Working FSBO

Of course, pitching FSBOs is not easy. In fact, it will take practice to get good at turning an FSBO into a listing. The housing market of 2021 left many homeowners thinking that selling houses is simple. As agents, it’s our responsibility to show our value, manage expectations, and prove that agents are worth the commission. The trick is to establish a relationship with them before the reality of selling their home finally sinks in. 

You can start by learning and practicing FSBO scripts. Chris Linsell broke down his seven favorite FSBO scripts here and explained why they work so well: The 9 Best FSBO Scripts (+ Why They Work).

If you’re ready to jump feet-first into the FSBO world, you should consider looking into REDX. They curate expired and FSBO listings daily, delivering accurate data so you can reach out to sellers before the competition. Don’t waste time on inaccurate phone numbers or get into hot water over the Do Not Call list. REDX scrubs its data to make sure you’re only getting the freshest info. Keep track of your contacts inside the REDX CRM so you can nurture and convert your leads easily.

8. Empty Nesters & Downsizers

Today’s millennial homebuyers face tight inventory, rising home prices, rising rents, and high student debt that are all converging to keep them out of the real estate market. So it’s no surprise that the largest shares of homebuyers in 2022 were the 55 to 64 and the 65 to 74 age groups, together accounting for 42% of all buyers, according to the National Association of Realtors’ Profile of Buyers and Sellers report.

Looking at the data, it’s no wonder that the 55-plus age group is the biggest homebuying segment. They typically have equity in their existing home to make a move work. 

Most of these prospects are moving to be closer to family or to downsize. But don’t forget to target those who are looking to make lifestyle moves—think golf, pickleball, and boating. If you live near a 55-plus planned development, like the now infamous retirement community The Villages of Florida, you might want to consider them in your marketing strategy.

How Agents Can Start Working Empty Nesters & Downsizers

Start off by brushing up on the communities near you that target this demographic. Find out the features and benefits of each one so you can rattle off information in a conversation easily. Next, you might consider a print campaign in some of the older neighborhoods in your community. Target homeowners who have lived in their homes for more than 10 years. Your campaign should feature the benefits of moving to a community with a fun lifestyle for its members.

You might also consider getting a Seniors Real Estate Specialist (SRES) designation to learn the ins and outs of meeting the needs of this fast-growing niche. Sean Moudry explains the designation at length in this article: The SRES Designation: Is It Worth It for Residential Agents?

Over to You

Know of an underrated real estate niche you think is poised to become more lucrative this year? Let us know by leaving a comment below.

The post 8 Red-hot Real Estate Niches That Can Double Your GCI in 2024 appeared first on The Close.