An inner-Sydney agency has revealed the value-added service it introduced that has led to higher commissions and client retention.
Richardson & Wrench Leichhardt offers landlords renovation services, covering everything from cosmetic repairs to complete structural work.
Sales and leasing manager Santos Sulfaro said the service not only builds lifelong relationships with owners, but generates better returns for clients and the agency.
According to Mr Sulfaro, the service was initially offered about five years ago to long-standing clients free of charge.
“It started as a goodwill service for clients who had been with us for a long time and that then secured the relationship for another 10 years,” he told RPM.
“We’ve been here for over 30 years, so we felt that we owed to these clients to look after them a little bit extra and go that one step further, but then we found that other people wanted the service as well.”
The added service made sense, according to Mr Sulfaro, since the agency has a large database of tradespeople that it has worked with over the years.
“Our tradesmen know the level of service and quality that we expect and they offer very competitive rates, because we do shop around to show the owner that they are getting the best value.”
Mr Sulfaro said the agency doesn’t charge a fee for the works itself, but charges a higher commission on the rental so the added income is generated for the life of the management.
“Owners can be involved as much as they want as well. We can take care of it from start to finish, or they can be involved and oversee the project as well.”
The process requires a good deal of co-ordination and time management to complete renovations as efficiently as possible, according to Mr Sulfaro.
“We tend to do them in two to four weeks and that’s because we line up the tradesmen one after the other, so it kind of looks like Backyard Blitz because you’ve got two or three tradesmen working on the property at once.”
Mr Sulfaro noted that the quick turnaround helps minimise the impact on tenants, potential vacancies and rent collected for the property.
[Related: When was the last time you upsold yourself?]