I Was Speaking to This Letting Agent…

by | Jul 11, 2016 | Letting Agents

She asked me: “So how did you grow your business? I just seem to have stood still over the last year, I’m sure there is just too much competition!”

It’s one of those questions that really made me stop and think, as I wanted to give her a good answer, and I found myself going back to basics… what did I actually do when I first started out?

It’s tough when you first start out, I agree, you definitely need a strong will to survive.

I can remember my first day setting up my first branch, shiny new shop front, new IT and phone system all set up… Did the phone ring off the hook?

No it didn’t. Of course it’s not going to be that easy.

I had done some ground work of course, prior to “The Launch” and I soon realised, the trick was keeping it going.

It went something like this:

Let’s do some marketing. Excellent now we have properties, get them on quick! Now get them let!

Awesome, they’re let.

Oh now we have no stock. We need to market. This is how it went on and on.

The real trick is getting the marketing consistent. So how did I do that? Well it consists of two things:

Get your team involved in the marketing plan

You’ll need buy in from your team as they need to understand that if there’s no marketing, there’ll be no properties.

So from day 1 you should create a mission statement and share this with them, so they know and understand your vision and are on that journey with you.

It’s so important that you’re all reading from the same hymn book. The nature of business owners is that we all try to do everything ourselves but we can’t do that can we? That’s why sharing both the mission and the statement are important, as they need to do the marketing with you.

If you don’t, you will lose sight of working on your business not in it.

Why not get the team in agreement and set the marketing plan together? Let them tell you what they think should be done, and then make their suggestion their dedicated area. Of course, we all have different strengths, so don’t expect an administrator to cold call but she could warm call.

Get the Phone Ringing

If you have been business is around 2/3 years, I’m sure you have a data base of people you have done business with in the past, or even business that wasn’t won at the time, that’s an easy call to make.  The more salesey person can pick up the phone and call to the cold.

So operation ‘Get the phone ringing’ is a great way to drum up some more new business from the people we know.  The people we know are always keen to help.

Have you ever taken the time to draw up a list of all of your contacts, people you can call?

Have a good think, who have you already spoken to since launching? Who do they know?

You can also use social media to your advantage here. Did you know you can call anyone off messenger? Just go on there and click the little telephone in the corner!

LinkedIn is another great data base, from there you can import your contacts on to a data base, what about your contractors who are they talking too? There is also your preferred solicitor if you have one maybe your accountant has landlords he deals with too.

Putting these all in to one data base was quite a shock for me over 6000 contacts in total! Yours could be more.

So round the team up put an hour aside each morning hit the phones and have fun, have a competition for each day and a winner at the end of the week, put up a prize perhaps a bottle of bubbly !

If you have 3 staff, each day they book in 3 appointments each that’s 15 market appraisals a week, how mad is that just for picking up the phone and asking the question.

Better still with a great conversion rate you likely to get 75% of them instructed that’s around 11 instructions a week, 44 a month!!

Think back to basics sometimes we just forget to ask for the business.

A power hour a day keeps the instructions your way!

Karen Mills