8

Placement Agents | Assisted Living Business Tips



ten agents or something I've been asked about a lot lately and I am actually going to talk to you guys about how much they cost if they're really worth it what the turnaround time is when using a placement agent so if you guys are interested go ahead and stick around to the end of the video to find out exactly what placement agents are and if they're worth it what's up everyone I hope you guys are all doing well if you're new here my name is Serge welcome to the channel to all my reoccurring viewers guys thank you so much for all the support and before we jump into the topic of this video I just want to say that I created a Facebook group in order to help you guys out and the name of it is called Legion assisted-living Academy so if you guys want to go find it on Facebook I will also link it in the description so go ahead guys go join it so we can go ahead and share ideas you guys can ask any questions in there and I will be running the group so therefore I will be answering all of your guys's questions and also to be able to make more content for you guys regarding assisted living and everything that you guys want to know so go ahead and go join it guys so without further ado let's go ahead and jump into the video and the topic of the video placement agents or something that I have personally used and so I'm going to talk about it and tell you guys exactly what a placement agent does so what a placement agent actually does is they go around to the hospitals they talk to social workers they talk to you know the case managers in these hospitals and also the discharge planners from there they go and talk to the residents and the residents family and they tell them about assisted living homes and you know what services they provide and how much it's going to cost them and if they find that a resident may be needing assisted living they'll reach out to all these other homes and ask for availability and see if they do have any availability and what kind of availability that they may have then they move forward and they pretty much guide the resident and the family free of charge and they show them houses they show them different homes and they ultimately let the family decide on which home they like the most and then from there you know they talk with the the owners of these homes or the home that the he chooses and then at that point they move them into the home and then they that's kind of how it really goes now depending on the placement agencies that you use some of them charge anywhere between seventy five percent to a hundred percent of the first month's rent that the resident owes the home so let's say for instance let's just use this example right the rate is three thousand per month now you know the home owes the referral agent three thousand dollars if it was at a hundred percent and if it's seventy five you guys can do the math but it's that's kind of how it works with the fees right and depending on which agency it is you guys can usually work that out with them when you pay them it's usually you know they can split it up for the first month and second month so you'll pay fifteen hundred the first month and then fifteen hundred the second month and that's kind of how the fees usually work from what I've noticed and from what I've experienced that's how they work now depending on the agencies that are in your area you guys can kind of work it out with them and see you know how you guys can pay and if you guys want to split it up between two months or you know however three months four months whatever works out for you guys and for them now the one thing that I've noticed though is that a place for mom is one that's of that's just a big player when it comes to placement agencies and they are kind of everywhere the one thing would place for mom though is that there is no agent actually showing the families anything all they do is they give them a couple homes that are in the area that they're looking and they tell the family hey go look at these homes and what happens is that the families just go and they show up at the house and just knock on the door and there's really like no guidance really when it comes for a place for Mom they that's the one thing that a place for mom needs to actually try to fix or do better but with actual agencies that I've worked with they have placement agents that go around with the families and they show them the homes and the one thing about that though it could be good and bad the good is because they get that personal the homeowners and they know the homes really well they know the good homes and they know the bathrooms the bad thing is though some of them kind of use that they've used the fact that they can go to whatever home that they want to show so for instance let's say a home won't pay a hundred percent on their referral fee but our other home is willing to pay the hundred percent well the placement agents gonna go to the one that's gonna pay a hundred percent right because they're gonna make more money from that home you know instead of the other home that's only willing to pay seventy five percent so that's kind of the bad aspect of a referral agent showing the homes whereas with the place for mom when they're making the recommendation I believe they just set a standard across the board and you know that's what all the homes all pay I believe if it's not a hundred percent don't quote me on this because I don't use a place for mom but I believe it's a hundred fifty percent and that's a lot that is so much but I wouldn't pay that and that's why I don't use a place for mom and also I don't like families just showing up at my house and knocking on the door without you being prepared you know so that's kind of the reason I don't use a place for mom and you just gotta be careful you know you work with agents who are loyal to you who know your home really well and that's just kind of how I've been able to do it is I just work with the handful of agents that I really trust and they know my home they know what type of residents I want in my home and from there you know they are able to actually get the right residence in your home now what's the turnaround time of actually placing a resident in your home usually what I've noticed is that most of these referral agents that I work with they know not to call me unless they actually have a really good resident and client for me so you know usually they only call me when they actually have a set discharge date for me and if that resident would actually be a good fit for my home now when they called me the first thing I asked him I asked him hey when are they getting discharged and they'll usually tell me you know the date usually it's like two or three days or maybe like a week out that they're getting discharged so it gives me timing instead time to get prepared with the paperwork and everything but then another thing that I asked is budget right what is their budget how much are they willing to pay and how much can they afford and I asked that upfront because I don't want to waste anybody's time especially mine and especially the families by driving around and making them do all this late work so I always ask for the budget and I always ask for the discharge date from the get-go and then they also give me all the information about the resident beforehand so I can make a sound decision if I want to take them or not so usually depending on you know their budget and their discharge date and then also their level of care those are the three main things that I look at when you know trying to get a resident from a referral agent do I think that they're actually worth it yes the way I look at it is you could either go out and spend all this time trying to find leads trying to find referrals and do all the heavy you know legwork of trying to find these referrals or you can utilize your time elsewhere and use that referral fee as a investment towards your advertising and marketing for your business right they will do all that heavy lifting for you and do all that legwork in order to get a resident into your home because for them it's worth it when you pay them the fee so you know I use it more as a advertising marketing investment you could call it a cost or whatever you guys want to call it but that's just how I look at it and guess what I get to use it utilize all my time not when I'm not running around trying to get leads and everything I use that time to focus on my business to focus on you know going and seeing my family hanging out with my friends and everything so you know I don't spin all this time running around so I mean for me it's worth it and from my perspective it's worth it for other people it may not be worth it they may want to actually go out and do all that work but that's up to you guys that's a business decision you guys have to make and for me I think personally it's worth it felice at gave you guys some insight and hopefully it helped you guys a little bit and if it did go ahead hit that like button also hit that subscribe button if you haven't yet and guys go join that Facebook group seriously it will be awesome and I'll help you out a ton so guys thank you again and don't forget to go watch all these other videos and I will see you guys all in the next video god bless peace

Glenn Chapman

8 Comments

  1. Where do you find these referral agents? Do they all charge a months rent? Love your videos, very informative!

  2. when u say place4mom charges 100% or 150% of yrly profit or monthly profit ?

  3. Just subscribed to your channel. In the process of purchasing my first home to convert to an adult family care home in Florida. Love your videos!! Just submitted request to join group.

  4. What if the resident only stays for a few months? Do you feel the residents from placement agencies are normally long term? Do you use these agencies every time you get a vacancy or do you recommend it more in the beginning?

Leave a Reply

Your email address will not be published. Required fields are marked *