Landlords aren’t as loyal to a particular letting agent as you think.
However, my intuition tells me they are a hell of a lot more loyal to their own basic needs of getting the rent in and having no hassle. ….
So if you want to persuade a landlord to swap letting agents .. that’s exactly the last thing you want to try and persuade them to do (ie try and persuade them to swap agents)… sounds weird I know
.. but every letting agent I have ever met has always told me about landlords they have got on their books because they did exactly that .. instead of trying to persuade them (or market to them) their services.. they met the landlord (say on a free val for sales, viewing on a property, socially, networking etc)
.. found out they were a landlord, built a relationship (like a good human being) , fostered and grew that relationship to a point some time down the line (months/years later).. that landlord brought their property to them to be managed.
It looks like this equation works ..
1. Meet a landlord and talk to them
2. Build a relationship
3. Continue to build and nurture that relationship, slowly building trust
4. Be patient and continue to repeat Step 3 for months (if not years)
5. Get the property to manage the next time the tenant hands in their notice as long as you have done Steps 3 and 4
So surely, all you need to do is find a way to make landlords want to come and talk to you (ie Step 1) and then just follow the 5 step plan?
Author: Christopher Watkin
I teach, guide, support, mentor, consult, counsel, partner many hundreds of UK Estate and Letting Agents in their quest to grow their estate and lettings agencies business.
Old school techniques of touting, landlords wanted leaflets, ring us for a free valuation, we have sold this in your street leaflets don't work anymore. There are too many competitor agents .. meaning cheap fees are epidemic, overvaluing is almost a norm to get the stock and don’t even mention about the online/hybrid threat.
So a few years ago, I set about looking around the UK and spotted that certain agents (not many mind you) in certain towns were still seen as the ‘go to person on property’, the person the newspaper editor rang up every week for a comment and I looked at what they did and they were doing some thing quite remarkable…. Only one thing but they were doing it so well .. and reaping the reward in terms of decent listings and decent fees, happy staff, decent sales pipeline and exchange income, managed lettings portfolios in the many hundreds .. but more importantly, they really enjoyed the job… they enjoyed getting up in the morning and people looked up to them
Over 400 agents around the UK are on a mission to change the way our Estate and Lettings agency profession is perceived and looked upon, doing it town by town, city by city. I guide these 400 agents, teach them, mentor them and support them to be seen in a different light, to be seen as the ‘go to person for property’, actually be the ‘local property expert’ and prove it.
07950 147 572