12 May How to Become a Chime Landlord

One Chime feature that you might be overlooking is subleasing, or becoming a virtual landlord. In fact, you might not even know that it’s possible on Chime!

In this episode we’re chatting with Adam Frank, and he’s here to tell us all about how he leases out his space on Chime to others. Adam is a realtor for the Blue Compass Team, and in our previous episodes we’ve had him talk to us about the technical side of Chime. You can watch those episodes here and here.

Now he’s back with us, and this time, we’re going even more technical. The gist of his subleasing is that he lets his agents use his Chime space, and the result is that he basically gets to use Chime for free. In other words, he has become a Chime landlord 

So how does he do all this?

First, let’s talk about what subleasing is. Imagine yourself buying a house, living in one half, and renting out the other half. You then use the rents you collect to pay your mortgage. On Chime, subleasing would be like this, except you’re leasing out seats on your CRM. Adam gives his agents a “seat” on his Chime platform, and the total amount he makes from this arrangement is used to offset the amount he pays Chime. All in all, he gets to use Chime for free, and being a Chime Landlord allows him to scout out potential team members for his growing team.

This is an ideal setup for individual agents who cannot get a return on their Chime investment on their own just yet. In Adam’s case, his Chime “lessors” not only get a better system, but they also get trained on Adam’s Smart Plans, follow-up processes, and overall real estate gameplan. Once the agents eventually get better and become capable of investing in Chime independently, they subscribe through Adam’s affiliate link, where Adam gets residual affiliate income.

It’s a system that benefits everybody. Adam benefits financially, and the agents learn how to use a better system and get a coach throughout the process.

Now, let’s talk about the backend setup of this arrangement a little bit. While they use the same Chime platform, the leasing agents have limited management permissions, and all the leads are protected as well. That means the agents can’t see each other’s leads.

If you’re managing a team of new agents who can’t quite put up enough to get Chime on their own just yet, this arrangement will be perfect for you.

This is a 40-minute episode that goes deeper than we’ve ever been into the technical side of Chime so far. Adam also talks about payment setup, integration with the agents’ own different websites, and a unique hybrid model of subleasing. For those who are looking to maximize their Chime investment, this unique setup is something worth looking into.

So, grab your pens and notebooks, and be prepared to take down notes. Chime is more than just another CRM platform, and if you are looking to take your real estate business to the next level with Chime, you can get your free demo here.

Brett Baker has been ranked as on of the Top Agents 250 agents in the Country by Real Trends and the Wall Street Journal. He has since retired from real estate and now volunteers his time and energy on helping agents just like you close more deals and do more business through public speaking and a whole host of webinars. He is a lead generation and conversion expert and has helped tons of agents refine their lead generation and conversion using human factors and his “runway out” conversion process. Brett has used literally every CRM in existence, and is a huge proponent of Chime due to their use of Artificial Intelligence.

Tristan Ahumada teaches and speaks throughout the year at different events, to small groups and larger groups of up to 20,000 people. Tristan teaches how to have a higher lead conversion through long-term follow-up and building deep relationships with clients. He is the creator and co-founder of the largest closed facebook Real Estate group in the United States, Labcoat Agents.

Randy Carroll is a Strategic Partner and Channel Manager at Chime Technologies. Randy has been in the real estate SAAS space since he graduated from Lenoir-Rhyne University with a Broadcast and Electronic degree and a Business minor. Randy loves food, so usually there will be a food related topic in any webinar he’s a part of. He knows how to ask the tough questions, dive in deep to help unpack complicated topics, and find the answers that his viewers are looking for.