Have you ever been unsure of how to approach your landlords about landlord-paid advertising (LPA)?
In the realestate.com.au webinar Excellence In Marketing, industry expert Dan Spencer said getting your landlord on board starts at the listing presentation. He said PMs should think of their presentation “as a storybook with specific chapters”.
Finding out a landlord’s goals and motivations and aligning them with the value you can provide is a great way to begin – be clear with the costs and timelines from the beginning so there can be no confusion down the line.
Mr Spencer recommended agents be clear with landlords about the length of the marketing campaign and how it relates to the timeline of leasing the property. PMs should explain to landlords how to “use their position of strength at the beginning of the campaign, which is why it’s important that their marketing is pushed hard from the beginning”.
Using case studies, Mr Spencer said the PM can show the landlord why positioning in search results and the presentation of the property are so important, and how they can help the property stand out in “the sea of listings” and attract the best tenant.
PMs shouldn’t forget that they need to stand out in terms of value, but this isn’t always achieved by being the cheapest. Mr Spencer suggested that using the phrase “I don’t think the cheapest is what you want; what you want is the best-quality agent and agency with the best-quality product and service for the best price – not the cheapest” can help agents explain value to landlords.
Presenting all marketing options as a package that has been tailored-made for the landlord, rather than as individual items, is an easier sell than a large inventory list, which can see landlords get caught up in small details and multiple costs.
Mr Spencer said it’s important to remember what you’re selling. Landlords want to find the best tenant for their property quickly, so by explaining that investing in marketing up front is not only more likely to get a better result, but to get that result sooner, you’re going to get less resistance from them than if you focus on “selling marketing”.
CLICK HERE to view the Excellence In Marketing webinar.