Acquiring new landlords is one of the biggest challenges letting agents will face. In an increasingly competitive environment, you need to stand out as an agency and go the extra mile to demonstrate value. There are a range of strategies you can deploy to gain more business from landlords.
Refine Your Marketing
If you are struggling to win new business, the first thing you should do is examine your marketing strategy. This is a common pitfall for many agencies, especially those who have not yet embraced digital marketing.
Whilst traditional marketing (such as magazine adverts) can help attract older landlords, it is important to have a prominent online presence. Agencies should take advantage of social media platforms to get their message out to potential clients.
Getting a website can also help you win more landlords. Websites act as a shop front for businesses that can be updated regularly with fresh content. We recommend using client testimonials to build trust with site visitors and to regularly update your blog to rank for relevant key phrases.
Understand Pain Points and Motivations
When you are creating content, make sure that everything you produce is customer-centric and solution-focused. Each prospect will have their own pain points and motivations, which you can leverage.
It can be helpful to discuss relevant news in the industry. This can help build a voice of authority for your agency. Aim to be the place they visit for useful advice and to catch up on the latest topics.
Provide an End-to-End Service
Landlords, especially those with a larger portfolio, will be more interested in your business if you can provide an end-to-end service. This makes communications simpler for them and is generally attractive as it conveys your agency’s competency.
To give potential clients a clear idea of your processes you can produce a roadmap. On this, you should outline the responsibilities of landlords, including tenant onboarding, property maintenance and moving out tenants at lease completion dates. Next to this, you should write up your contribution to the process, illustrating how you can help them manage their portfolio.
Start a Referral Scheme
Referral schemes can work well for letting agencies. Effectively it uses the first-hand experience of existing clients to attract new business. Using a money incentive can be one of the best ways to get clients to refer other landlords.
As a bonus, potential clients are more likely to trust your existing clients as they have their profession in common. They understand the struggles one another faces and will respect their endorsements.
Networking can be a valuable strategy for winning new leads. Landlords who prefer a more ‘old school’ approach will often attend events rather than seek out services online. For this reason, you can meet a lot of landlords through business events, industry events and property auctions.
If you decide to attend events, it is wise to bring business cards, so landlords have an easy way to contact you after. A face-to-face introduction can work very well for winning over prospects as it is a lot more personable than an email or other digital exchanges.
One of the biggest challenges of online content is grabbing and holding a viewer’s attention. One of the most effective ways to do this is to create videos. You do not need a high-end camera to start making video content, a simple mobile phone will do.
What you choose to discuss in your videos is up to you. Some suggestions are a ‘meet the team’ style video, educational videos about the industry or advice to your target market. It is then free to upload these videos to YouTube or your social profiles.