As a sales agent, you're always going to be on the lookout for new leads. There's a niche that is often overlooked in the market, and that is ''renters,'' or, more specifically, ''renters who convert to buying.'' Inexperienced agents often miss opportunities when they fail to broach the topic of buying a home in conversation with someone who has been living as a tenant in a rental property.

There are several distinct differences between renting a home and owning one. As a sales agent, you'll always want to be prepared to have this discussion and to suggest reasons why in many cases buying a home might be a better option than renting one.

Buying a home is a long-term investment with benefits

While many tenants shy away from the idea of buying a home because it typically requires a down payment and a mortgage, there are benefits in the long run to owning a home over renting one. For instance, a home is a major asset, which increases a person's net worth. When you rent a home, you are helping your landlord’s net worth increase, but you are not increasing your own.

It is often possible to pay off a mortgage, which is another benefit that investing in a home has over renting. If a house is paid for in full, the only continuing costs are property taxes, insurance, utilities, etc., without a monthly mortgage payment. The process of renting a home is perpetual. There will never be a time when the landlord will stop charging rent, and it is likely that the cost will increase over time.

Value appreciation enables buyers to build wealth

Another benefit to owning a home rather than renting is that ownership helps build wealth. The value of real estate often appreciates with time. A 10% return on an initial investment would translate to tens of thousands of dollars in a homeowner's pocket, depending on purchase price and selling price.

Home ownership provides independence that renters will never have

As a tenant, there is less stability and freedom since having a roof over your head hinges upon the landlord continuing to rent you the dwelling. If a tenant wants to renovate or make upgrades, he or she must request permission from the property owner. A home owner, on the other hand, is free to make changes at will and doesn't have to worry that a lease may not be renewed.

Home ownership provides a sense of stability and freedom that simply doesn't exist when a person is renting a home from someone else.

Rent to buy conversions can boost your real estate business

As you establish yourself as a profitable real estate agent in your sales region, always keep renters in mind as potential leads. In addition to those who rent on an indefinite basis, there are also many people who rent temporarily, such as during an interim of relocation between accepting a new job, for instance.

Renters who wish to convert to buying can become a niche that helps you boost sales! Be ready to share information when someone asks you why buying might be a better option than renting.