Three Keys To Grow Your Agency’s Revenue.
Through my work at Fixflo I get to speak with letting agency directors across the UK every month.
Although their local markets vary, the common thread wherever I go is the need for more stock.
With feedback and insights from directors of letting agencies large and small, I’ve put together this simple three-stage plan to help them and you to turbo charge your letting agency business.
Step 1: Get More Leads
Start by pulling out your latest marketing materials. Be honest, do they talk about how great your agency is or do they highlight how you can solve landlords’ problems?
Empathy is your best friend.
The best marketing materials I come across as a landlord are those that identify my key concerns and then address them.
Your true north is what landlords in your area really care about…if you don’t know get out of your office today and start speaking with your existing clients!
There are universal concerns like property damage, voids and compliance but don’t overlook local issues (like how to secure a corporate let from a major local employer) as they could be your golden ticket to a raft of appraisals.
Remember human nature means that people do more to avoid pain than to gain pleasure, so if you can solve a sharp pain point for local landlords you should be shouting about it!
Build your marketing messages around those pain points (not about how great your business is) to get new leads flying through your door.
Step 2: Achieve More Conversions
So now you’re in front of a prospective landlord (…well done by the way!) and your challenge changes.
A common difficulty for professional service providers is how to show how good your service is without having the chance to prove it.
I was speaking with a client who described this as the “knowledge gap”. You know that you offer a great service but you’re asking the person you’re speaking with to take your word as the truth.
The only way to overcome the “knowledge gap” is to build compelling evidence into your pitch materials.
In competitive markets you need to look past case studies and testimonials to give landlords something they can touch and test themselves.
This is where Fixflo clients have an easy win as they just have to pull out their Smartphone to allow prospective clients to try their fully branded system that helps to protect properties they manage around the clock.
Step 3: Retain More Clients
I was speaking with the director of an independent lettings agency in Scotland last week.
He was increasingly frustrated as, despite working both hard and smart to get new clients he felt like he was pouring water into a bucket with a hole in the bottom.
He found that at the end a tenancy he had to re-pitch for the instruction and his fees were often squeezed in the process.
So how do you make sure your clients keep coming back?
The key to your professional relationship with landlords is building a relationship of trust so they don’t ever consider looking at one of your competitors.
To do this, instil a strong ethical core to your business so that your agency’s word is its bond. This means telling clients the truth even if it’s not what they want to hear and your team always delivering on their promises.
About Fixflo
Fixflo is the award-winning repairs software that is trusted by hundreds of lettings agencies across the UK.
Property managers are liberated to add value and not just jump from call to call.
Negotiators have a USP in their pocket to win instructions.
Directors have security that communications are being properly recorded.
As an added bonus your tenants can access your Fixflo system in over 40 languages (don’t worry repair requests come to you in English!).
Find out more at www.fixflo.com
As part of our commitment to help letting agencies to comply with their obligations you can download a free how-to guide on changes to Section 21 that we have produced with ARLA at www.fixflo.com/Section-21
You May Also Enjoy
Closing the gap on client relationships and recommendations
Northern Ireland to expect over 25,000 new home movers
Red tape and rising costs stifling new-build availability across the capital
UK’s new wave of ‘second cities’ offers strongest yield growth for property investors
Decline in change of use further constricting housing supply
