How to become irresistible to new landlords:
As we continue into 2023 with high tenant demand and a distinct lack of rental stock in most areas, it is imperative to
1. get called out to new instructions and
2. win the business.
There’s no easy fix, it takes a lot of hard work to build a great reputation, plus you just need to be in the right place at the right time, in order to get that valuation call. Consistently good marketing is key to putting your brand into people’s minds, but that isn’t simple either! There are SO MANY channels to push your brand out on, from social media (in particular Facebook, Instagram, and Linkedin) plus YouTube and TikTok for your video content, Google Business and your own website SEO, plus traditional marketing such as leaflets, magazines, property portals and all of your networking channels too!
Goodness, how do you find the time to do it all (or are you sensible and ready to outsource this…)?
Understand the fears and frustrations of a landlord
What problems do your potential clients have, and how can you help solve them?
This doesn’t just mean the problems you think they have, constantly marketing to people who are fed up with legislation changes. Whilst this might be one annoyance they have, it also might not be.
Some people might be more than happy with keeping up with what’s required of them, although it’s getting harder all of the time and there are some pretty hefty fines being imposed almost daily on rogue landlords, the downside to getting anything wrong can be pretty terrifying.
Other landlords might be worried about having the rental property damaged and would be more interested in how you carry out your property visits, what procedures you have in place to take care of maintenance, and what your “little black book” of contractors looks like. Others want minimal void periods, so how do you handle the end of the tenancy, and are you able to get a new tenant lined up, quick turn-around with cleaners, safety certification, and any necessary repairs, so that you can really minimize the days between the end of one tenancy and the start of the next?
There are lots of different fears being talked about by landlords who rely on the rental income to pay the mortgage on their property, and 10 interest rate hikes in a row have them worried about the diminishing gap between the rent and the mortgage payments due.
There are all sorts of different situations here, so never assume all landlords are the same and be knowledgeable on all points, take the time to listen to the worries your current landlords have, and publish your solutions in your marketing literature. It is a wise marketing strategy to ensure every message is published 3 times on every channel to consciously sink in!
Be an expert
This isn’t something that happens overnight, you can’t just declare yourself an expert and expect everyone to believe you and flock to your agency doors accordingly.
I mean, you can do that but you probably won’t have much success.
Becoming an expert in your local area is a long-running thing. The aim is to become THE local go-to for market information, be a face people come to trust and you must consistently do certain things that get your name out there.
Talk about real facts and figures, especially those for your local area, and how they compare with what’s going on nationally. Give information away for free, newsletters, downloads, and regular blog articles – once people learn how much value you’re giving for free, they’ll return time and time again to listen to what you have to say.
Here are just some of the ways you can do that:
- Do regular update videos on social media the trend now is for the real personal touch in short format (less than 60 seconds long). Make sure they go out on the same day at the same time if you possibly can, it’s all about consistency with this approach.
- Collaborate with other local industry professionals. Is there a Conveyancing Solicitor you work closely with? Can you get them to write a guest blog post for your website, or work with you on a joint webinar? Maybe even a Q&A session?
- Tell people you’re available to answer questions and mean it. It might sound counterintuitive to be giving landlords free advice when you could be charging for it, but a 10-minute chat to help them out of a sticky situation will likely stick in your mind, and they might return to you as a future client.
Communication, communication, communication
As with what I’ve mentioned above with regard to being an expert, the common thread really is communication. Whether that’s being available on the phone, spending a bit of time on social media answering questions you see arise from landlords, or following up with landlords you’ve spoken to previously asking if the issue you’ve helped them with has been resolved – they’ll love you for remembering.
Don’t be invisible, and keep the dialogue going!
Know your unique selling points (USPs)
Do all your staff live in the local area? Do you have a cabinet filled with great awards? Do you have a huge number of prospective tenants on your books just waiting for the right property? Do you only deal with landlords who allow tenants to keep pets? SHOUT ABOUT YOUR USPs!
If others are very clear about what you do, the level of service you offer, and what exactly sets you apart from competitors in your local area, then this will also help with word-of-mouth advertising. There’s nothing more trustworthy than a recommendation from someone you know and trust!
Reflect all this in your marketing
It seems like a lot, but sit down and make a bit of a plan which consistently covers a few of these things, and you’ll be making an excellent start.
If you’re looking to attract new landlords and you’d like some help putting together and implementing an action plan, then please do get in touch with us. With Jane’s background in lettings alongside our experience in digital marketing with agents, we get results!