In the end we’re here to fill properties faster for our landlords, and it’s all about filling the property with a quality tenant too.
We, as agents, should be doing the best possible job we can for our prospective tenants, so we are then looking after our landlords. If we’re not, then we only have ourselves to blame.
After my last blog on having a checklist for hard to rent properties, I thought I would create a list for agents to use to help their tenants.
Part of maximising landlords' investments is having the lowest vacancy rate possible. Imagine if you could have a database of tenants, so you can feed them the properties just listed without even having to advertise on expensive websites that seem to keep putting fees up. This then also saves your landlords because you wouldn’t have to pass on marketing fees to them, and you’re filling the property faster.
If you’re pitching for a new listing and you can comfortably say to your potential landlord, “Mr Smith, we are an office that doesn’t just wait for tenants to call us; we have a database of prospective tenants we keep track of so we can help them find a suitable property faster. In the end, this is about filling your investment faster, so we can maximise your return”. THIS WILL HELP YOU WIN MORE BUSINESS.
Seeing the need for leasing properties faster in the market across Australia, I thought I would make the bold move to try and help. Before I was a BDM, I was a leasing agent, so I personally know what it’s like.
Now there’s nothing worse than your rival agent getting that tenant before you, BUT what are you doing about it?
Have you put things in place to keep track of your prospective tenants?
Is your office even tracking where your tenants are coming from?
Have you got follow-up procedures in place for prospective tenants?
Just like having a HOT 100 new business lead list, you need to have a HOT 100 prospective tenant list. Some offices I train have a database of prospective tenants and are continually keeping track of them.
InspectRealEstate (IRE) is a perfect example of how to do this correctly. As a leasing agent I would have dreamed to be able to use IRE, but I couldn’t as it wasn’t out yet. As a BDM when our office had it in place, it was fantastic to see it in action, and then being able to explain the benefits of our office using it over rival agents to my prospective landlords helped me win more new business.
If your office has points of difference in place that your rival agents don’t, this helps you list properties at a higher fee (this is another blog and conversation all together). You also need to know how to sell the points of difference (again, another blog).
So if your office hasn’t got a database or systems like InspectRealEstate, you can still create a checklist and have your own one in place.
I’m about to travel to New Zealand for a seminar series, so I may be a little slower returning emails than usual, but I will reply as soon as possible.