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Software provider to the rental industry, RentSpree, has spent a good deal of philosophical capital encouraging the real estate sales industry to pay more attention to the rental market.
The California Association of Realtors (C.A.R.) has developed, in unison with RentSpree, a series of courses for participants to earn a certificate in rental management. The classes will be deployed on C.A.R’s real estate school, OnlineEd, before the end of 2022, according to an announcement.
Agents interested in the education program will take three classes, Tenant Screening 101, Leasing Agent Strategies for Converting Renters To Buyers and Identifying Red Flags in Rental Applications.
“Agents are required to maintain their industry knowledge, latest standards, codes of conduct and best practices,” RentSpree Chief Executive Officer Michael Lucarelli said in a statement on the partnership. “RentSpree’s mission is to help agents do their jobs. Supporting them in their continuing education feels like a natural extension to what we are already focused on doing.”
OnlineEd, LLC is a Portland, Oregon, online real estate education resource that was acquired in March, 2022 by C.A.R’s for-profit subsidiary, Real Estate Business Services, LLC (REBS). The school provides courses in real estate and adjacent industries, like mortgage, insurance and construction contracting. Agents in 18 states can take its licensing and continuing education programs. It was founded in 1998.
Inman reported that in June of this year, RentSpree published a white paper calling on multiple listing services around the country to list rental homes, and in general, look to renters as the literal future of their business. The company keeps its blog full of rental market news and tips for real estate agents.
In one blog post, entitled, “Forward-thinking real estate agents can help renters become homebuyers,” the company encouraged agents to look to the rental community as the market slows.
“Agents have lost an estimated $2.4B in potential rental commissions since the 1970s by failing to use the MLS to lease rental listings and help renters find new housing opportunities,“ RentSpree said. “Agents who have developed relationships with renters can plant the seeds of home ownership and help their rental clients search for their first home.”
The National Association of Realtors (NAR) is taking another look at the value of renters to the sales industry, as well. In July, the agent advocacy association linked up with Rental Beast to provide members with its technology.
“Rental Beast created a lead-to-lease platform which brings seamless entry into the multi-billion dollar rental industry and its clientele,” said NAR Vice President of Strategic Alliances Rhonny Barragan in a July press release. “We are thrilled to provide this benefit to our members.”
RentSpree closed on its latest round of funding, a $17.3 million Series B, in August.
The company also landed in the top 13 percent of the Inc. 5000 list of fastest-growing companies of 2022, coming in at No. 625 with 1001 percent growth.
