How to Turn Renters into Buyers

People talk about renters becoming buyers eventually, but you can also turn renters into buyers right now.

I've done it myself a few times. Check out this excerpt from a Google review I received from a client:

“My boyfriend and I were introduced to Allison through mutual friends on Facebook as we started our quest to find a new rental in New York City. She led our meeting with a very simple question “Are you sure you don’t want to buy?”. It was this question that started us along a 5-month journey with Allison’s knowledge guiding our way.”

People often assume ownership in NYC is even more expensive than it really is. Some are so intimidated by the sales process that they wouldn’t even know where to begin. It’s not about pushing clients into something they don’t want. It’s educating them about their options.

3 Steps to Turn Renters Into Buyers

#1 - Advertise Better Rental Listings

You shouldn’t only be posting the cheapest listings possible. Post rental listings where the monthly rent is close to the carrying costs to own in that same neighborhood. This is much more likely to attract clients who could potentially buy. This isn’t about getting the most leads. This is about attracting quality over quantity.

In NYC, this generally means posting luxury rentals. Ideally in areas that have luxury rentals and condo / co-op buildings. You can keep posting listing for lower priced apartments if you want, but make sure to still follow #2 on those listings, too.

 #2 - Market YOURSELF in Your Listings

The goal is to find clients who are looking for a service provider and are willing to pay for it. They want help and advice. People like this will actually read rental listings. At the end of every rental listing you post, include a Statement of Worth.

A Statement of Worth is a little “elevator pitch” – a short paragraph about how you help clients. It’s very important to be specific and niche down. A good niche that works for rentals and sales is working with pet friendly buildings. Here is an example of an effective Statement of Worth:

Are you having a hard time finding the right home for you and Fluffy? I specialize in pet friendly buildings in Downtown Manhattan. Call me, tell me about your fur babies, and I'll help you find the perfect place where you will all feel at home.

That simple, 3 sentence paragraph will help you find more loyal and appreciative renters who will be more receptive to your advice and likely to listen to you about sales. You will hear from people who want your help to solve their problem, regardless of the apartment listed. Win-Win

#3 - Qualify & Educate Clients

NYC’s strict rental requirements mean you have to financially qualify renters. You get the opportunity to see for yourself if they can afford to buy. Whether they are currently able to or not, the most important thing is to educate your clients so they see you as an expert.

Just like you need to educate renters on the rental process in NYC, you must educate buyers. People often think rental agents are completely different from sales agents, and they often are, so you need to establish yourself as a knowledgeable sales expert quickly.

If they could qualify financially, straight up ask them, It looks like you could qualify to buy, have you considered it? Here are possible answers and how you should respond.

• (I don’t want to own, only planning on living in NYC for 2 years, etc)
  1. Don’t push the subject but still sprinkle in your sales knowledge. You can even just mention a feature of a home you “previewed for buyers”. This is establishing you in their mind as a sales professional for the future, and for referrals – just because they can’t or won’t buy doesn’t mean they don’t know people who will. Sales is a long game.
• Maybe / I don’t know (including I don’t think I can afford it, It seems too difficult, etc)
  1. Open the discussion by asking them what is holding them back or if they are looking at homes to buy right now.
  2. Now is when you really start to educate them. Walk them through the sales process and timeline. If they need to move in the next 60 days, they will very likely need a rental, but they could start looking at homes to buy 6 months from now.
  3. Listen to their needs and guide them in the rental process. Try to offer excellent service while establishing your knowledge and trustworthiness. If they were receptive to the idea of buying, continue with the “yes” response next.
• Yes (including “maybes” that seem responsive)
  1. Find out where they are in the process – have they been looking at homes to buy? Spoken with a lender?
  2. Fill in any gaps in their knowledge. They are unlikely to know all of the steps in the purchase process, especially when talking about the co-op approval process and all of the paperwork involved.
  3. Discuss their timeline and send them lender and attorney referrals, if needed.

Nurture, Nurture, Nurture

I have had 4 rental leads close on sales with me within 5 months of meeting them, but the biggest pay off is in the future. If you establish yourself as knowledgeable and trustworthy now and continue to follow up and nurture these clients, many of them will lead to sales. This is how you build a pipeline of deals so you can work smarter and not harder and build a real business instead of chasing after fresh rental leads forever.

The key to successful follow up is to continue to build a relationship and provide value. Stay in touch and show an interest in their lives. Send them useful information like buyer’s guides, 1^st Time Buyer Grants, articles about interest rates, etc. 

If you aren’t feeling confident enough in your own sales knowledge to really know what to talk about or how to guide and nurture clients, I get it. It’s very difficult to find the real education you need as a real estate agent.

Real estate school doesn’t teach you anything about the process, and brokers usually just tell you they will help you as you go through a deal. If you’re anything like me, you want to know what the process is like before you start guiding clients through it.

After struggling to get the knowledge I needed to break into sales, I wanted to make it easier for other agents to get the knowledge they needed to build a successful business so I created The REAL Real Estate School. It’s everything you wish you learned in real estate school. It’s a 6 Week Course that teaches you everything you need to know to confidently represent buyers and sellers in NYC including:

• What goes into an offer
• How to talk about commissions
• What terms can be negotiated
• How to put together a board package that gets approved
• How to find and use real estate data
• How to market yourself and find clients

The Winter 2026 Session begins January 5, 2026 to get you ready for the spring selling season. Registration is open now through December 31, 2026 Only. Click here to learn more about the course.