How to Attract landlords to my letting Agency

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  • How to Attract landlords to my letting Agency

    Hello

    I have just started a letting agency and I want to get landlords contacting me. I did place an advertisment in my local paper but that did not generate any leads at all.

    Can you please send me suggestions of the best ways to get landlords contacting me to manage there properties and also the best ways I can let landlords and potential landlords know my business has started and the services I can offer them thanks

  • #2
    What area are you based in?

    Comment


    • #3
      Did you not look into important factor before you set-up a business?

      Do you know the area where you are based? If you do I suggest you maybe contact some independant estate agents who dont deal with lettings and try and get some referrals that way.

      Otherwise advertising is the only way - week in, week out. Our advertising budget is huge but it works!

      Comment


      • #4
        I would suggest you need to emphasise your experience and qualifications, plus, if applicable, any trade associations that you are a member of.

        For example:

        Member of ARLA, 25 years experience is far more persuasive than Cowboy - making it up as I go along.

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        • #5
          What does your research and marketing plan tell you? As with any business if you do not do adequate research or develop a business plan your chances of success are greatly reduced.

          I don't subscribe to the '25 years experience' tagline - the old hands are often the ones who offer the worst customer service. As for the ARLA member rubbish - I like to relay what happened to me the week before Christmas when I took on a new tenancy - the agent tried to insist I sign a tenancy agreement without an EPC or Gas Safety Certificate and that I bought their insurance product - just behind the woman's desk were ARLA certificates with her name on.

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          • #6
            Originally posted by cymro123 View Post
            What does your research and marketing plan tell you? As with any business if you do not do adequate research or develop a business plan your chances of success are greatly reduced.

            I don't subscribe to the '25 years experience' tagline - the old hands are often the ones who offer the worst customer service. As for the ARLA member rubbish - I like to relay what happened to me the week before Christmas when I took on a new tenancy - the agent tried to insist I sign a tenancy agreement without an EPC or Gas Safety Certificate and that I bought their insurance product - just behind the woman's desk were ARLA certificates with her name on.
            I am not saying that all ARLA members are good, nor that 25yrs exp guarantees anything (but is better than none!) - what we are talking about here is marketing. You have to sell the business - tell people what makes you different. ARLA membership offers landlords some guarantees, experience has to be better than inexperience.

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            • #7
              Thanks for the response and I get your point (USPs etc.). I just think you chose two bad examples. One reason why Ls may not want to use ARLA members is exemplified by my personal experience and the day you first open the doors of your business you have zero experience of running that business but that doesn't prevent you from providing a good service/product.

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              • #8
                Originally posted by cymro123 View Post
                As for the ARLA member rubbish - I like to relay what happened to me the week before Christmas when I took on a new tenancy - the agent tried to insist I sign a tenancy agreement without an EPC or Gas Safety Certificate and that I bought their insurance product - just behind the woman's desk were ARLA certificates with her name on.
                Unfortunately there are far, far more non-ARLA agents who are likely to do this, and they are unlikely to have the same insurance cover either. The implication that ARLA Membership counts for nothing is misleading.
                The advice I give should not be construed as a definitive answer, and is without prejudice or liability. You are advised to consult a specialist solicitor or other person of equal legal standing.

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                • #9
                  sign up to some landlord directories and advertise your wares locally

                  Comment


                  • #10
                    Originally posted by cymro123 View Post
                    What does your research and marketing plan tell you? As with any business if you do not do adequate research or develop a business plan your chances of success are greatly reduced.
                    You need to be competitive to break into the local market so ensure your prices are most keen (and advertise as such). Gain a USP over the local competition in some way...your research should tell you how best to do this in your locality. Then meet prospective L and listen to them and gauge what they are after, how they have been let down in past and find a solution for them specifically. Be creative and be flexible - a lot of agents are not, surprisingly in my experience.
                    Chas.

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                    • #11
                      USP, USP, USP

                      Think what the other agents offer and set out to match it or better still exceed it.

                      More importantly, look at what the other agents fail on - and see how you can best provide that element.

                      Did you do your research? if so, you may have found the other agents to be lazy and wanting to finish at 5pm every day, maybe closed Sundays.

                      Get acroos to Landlords that you are available to show the property until 8pm or 9pm and that your staff work a rota so that you can accommodate people on Sundays.

                      As most Landlords/Agents insist on workign people, it's no good closing just when they finish work.

                      That single issue has caused me to move properties to a different Agent.

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                      • #12
                        I'm an agent, I stick hundreds of leaflets through letter boxes when it's quiet, on average I get 1 response for every 500 leaflets! On the plus side it keeps me trim.

                        It's not brialliant but when it's not busy theres not much else to do.

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                        • #13
                          Originally posted by the_estate_agent View Post
                          I'm an agent, I stick hundreds of leaflets through letter boxes when it's quiet, on average I get 1 response for every 500 leaflets! On the plus side it keeps me trim.

                          It's not brialliant but when it's not busy theres not much else to do.


                          Direct marketing helps rather than 'blanket bombing'. Open days. reduced marketing fees, reduced tenant fees.

                          Comment


                          • #14
                            Bet you run a Landlord Directory...
                            Unshackled by the chains of idle vanity, A modest manatee, that's me

                            Comment


                            • #15
                              His USP is a joke - he may as well tell us he has invented the wheel.

                              Still there is one born every day and they will bite.
                              Based on the information posted, I offer my thoughts.Any action you then take is your liability. While commending individual effort, there is no substitute for a thorough review of documents and facts by paid for professional advisers.

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