How to Reach More Landlords Part 1
by Craig Vile, Director of The ValPal Network | 24th September 2018
I was asked recently, how can an agent generate more landlord leads? Well that got me thinking, firstly, we have to find them - and you know better than anyone that finding landlords is a lot harder than finding vendors, as they hide in plain sight.
They could be your boss, the florist, the publican or the CEO of the largest company in your town. You see the problem is that no one advertises the fact that they are a landlord, so they literally could be anyone.
First, let's look at what motivates a landlord to contact you or make an enquiry in the first place. Remember, no one will do anything unless they are motivated to do it. This could be a need, a want or a desire but could also be because they have a problem, or they are feeling some kind of pain – financial or otherwise – and your service might be the solution.
If you have a new development or the area is under rejuvenation, then you will find it attracts investors that are looking to purchase an appreciating property with a good rental yield. Some of these investors may be looking at becoming a landlord for the first time. In this instance a message like "Thinking of becoming a landlord in Croydon? Use our FREE instant online property valuation tool and find out how much you could rent your property for in just 60 seconds."
This is likely to get the response you are looking for before you are providing a solution to the want of the new landlord. However, will the same message work for an existing landlord with 10+ properties? Probably not…
In this situation, we need to think of what would motivate an existing professional landlord to emerge from the shadows and give up their contact details so you can help them. Well, we have already answered that… you need to help them. How? By identifying what their pain is and providing a solution to that pain.
Ask yourself what are your competition’s shortcomings and what does your business excel in? What are the core reasons you are currently winning business from other property management companies in your area? It could be some of these:
1. Lack of communication from their current agent
2. Not being kept informed of any issues that have arisen
3. Fees weren't carefully explained at the out set
4. Failing to conduct quarterly inspections
5. Failing to deal with repairs needed to a property
6. Rental payments regularly late
7. General poor service
8. Over-promised and under-delivered
Now use this information in your marketing and ask the question:
“Hey Mr. Croydon Landlord, are you feeling this pain from your management company?
1. Are you always over-promised but under-delivered?
2. Are your rental payments late?
3. Never kept in the loop?
Well now for some good news! Here at ABC Letting Agents, my personal promise to you is…”
Try both solutions, if you are in a suitable area, they both work. You may think of another solution, in which case, great. But remember, your message needs to satisfy a want, need or desire, or alternatively, it needs to satisfy a pain. Otherwise, your message becomes white noise…
If you have great ideas but no one to turn them into beautiful, on-brand designs, give us a call today and we can provide you with a design and print quote!