Why Landlords dont swap Letting Agents.

March 25, 2015

Most lettings agents will say, “Just get a landlord sat in front of me, let me talk to them and I will get their business”. Well if you want a landlord to talk to you, the first hurdle is to find those landlords, but nobody walks around with a badge that says ‘I’m a landlord’ and the only landlords that do walk through the door of your lettings agency are those who have had their rental property on the market for 6 weeks, the tenant moved out at week 4 and they have an overpriced void property that 3 agents in the town have already tried to let.

But the challenge gets even worse. When was the last time a landlord of yours swapped agents whilst there was a tenant in the property? Precisely … not many. As there is a tenant in the property 95% of the time, the landlord is unable (without incurring withdrawal fees and hassle) to swap agents 95% of the time. The only time a landlord can swap agents, without incurring those withdrawal fees or hassle, is when the tenant hands in their notice. But how many landlords at your agency, when you informed them the tenant had handed in their notice, said to you, ‘Don’t put my rental property back on the market for a few days, I am going to see if there is any new / better letting agents in town’. Again, not many.

If you want to know why landlords dont swap, please listen to the latest instalment of the LETTING AGENT PODCAST …’ Why Dont Landlords Swap Letting Agents‘  4mins 50 secs

As always, for more articles and podcasts on attracting landlords to a lettings agency .. visit the blog  http://how-to-grow-your-lettings-agency.blogspot.co.uk/

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. Christopher Watkin 07950 147 572 christopher@christopherwatkin.co.uk

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