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Agents always want to make more sales – and one way to do that is to constantly source more vendors. But is this the right approach?
Paul Glossop, founder of property buyer’s agency Pure Property Investment, finds that keeping his client list small helps him create a better customer experience. He spoke with REB's sister publication My Business on the My Business Podcast about how property managers can benefit from scaling their business.
“We actually cap the amount of clients we bring on at any given time,” Mr Glossop said, adding that taking on too many clients can “jeopardise the service”.
Measuring the amount of time each client requires is the first step – Mr Glossop uses these results to work out how many clients his agents can comfortably deal with and knows that going over this number will have a detrimental effect on his business.
“For us, service and quality is going to be number one because ultimately our easiest client to come back and rejuvenate revenue is that client who's happy,” said Mr Glossop.
This increased customer satisfaction is more likely to result in the client using your services again – and also referring their friends and family to you, which is a great way to build your business for minimal cost.
“We don’t want a hundred clients at any given time because we know straight away that delivering that service is going to be impossible,” Mr Glossop said.
Mr Glossop added that agents should take the ideal number of candidates into consideration when running campaigns, as well to get the most 'bang for your buck' from your advertising and marketing strategies.
“We understand what we’ve got in the pipe works is going to dictate the future and for us we say, once we’ve done our campaign we’ll look at what the flow-on from that is and then we’ll look at reassessing what clients we have in the books,” Mr Glossop said.
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