As an extra treat this week, I have asked Rajeev Nayyar, top chap from FixFlo to tell his take on business generation and how he might be able to help letting agents. (PS If anyne else wants to do a guest slot on this blog - more than happy to consider any post - I dont want anything in return - as long as its not too 'salesy' and written in a narritive manner). Christopher
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: More LeadsStart 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: More ConversionsSo 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: Greater RetentionI 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.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