One of the fundamental things about growing a rent roll is to know where your leads are coming from, and not having the leads leak out of your agency.
“It’s time to bridge the gap between property management and sales. Catching a lease before your rivals do is key” – Deniz Yusuf (BDMcoach.com.au)
Deniz Yusuf, coach and mentor to agents across Australia, New Zealand and the United States through BDMcoach.com.au has a number of tips for agents to catch leads before your competitors do.
You need to be a proactive agent, not a collective or reactive agent, says Yusuf.
“There are two categories of being a business development manager (BDM):
- “Between May 2009 – Dec 2010, I listed 267 managements, had an 80% success rate and my full fee was 76 per cent. I was reducing 24% of the business coming in. At the time I lived in a regional town and thought if I was listing 5 managements a month, that was great.
- “Between Jan 2011 and Apr 2013, I listed 658 properties – an 84.7 per cent success rate with a 90.3 per cent full fee.
“My listings doubled. My full fees rose by 14.3 per cent. There’s no silver bullet here – it’s called dedication and hard work. Your listings can double too.”
It’s all about negotiation skills
One thing Laura Levihson spoke about is the importance of negotiation. Yusuf says it’s not about getting all the leads in to get in more doors, instead, it’s about learning the negotiating skills and getting in more doors.
Catch leads before your rivals do
Consider this – when does a sales person tell you they have a listing? Usually it’s after the settlement. An investor might tell you two weeks prior to handover. “Doesn’t it suck that we find out so late?” Yusuf asks. “Catching a lead before your rivals do is key. We need to combat this and bridge the gap between property management and sales.”
The three types of buyer enquiries coming through a website portal:
- First home owner
- Someone with a property to sell
Consider organising to have sales enquiries sent to your inbox. You could see the following types of comments in these enquiries: What rent will the property get? Is it at current rent? What return will I get? Think about the questions that might lead you to think it’s an investor.
The lead capture process:
- Create a disruption in your area: Once you’ve received that enquiry, ring the enquirer! Get your listing agents to call the clients. Open your market, put the fear of God in them too. BDMs, you are going to upset the sales person if a rival agent is selling a better quality house. Property managers, are you happy about that?
- Call the potential investor: Get them to email you a list of properties they’re going to buy. Why? You can give them a rental opinion or a comparable market analysis. Think about providing recommendations to achieve a higher return. Start to give advice beforehand to position you as the market leader. Tell them what you can do for them, sell your points of different and send them your pre-listing email. Property managers, you can set up an investor service as well. Email them advice, update your contact management system (CMS) and enter a follow-up date.
To recap: Capture a lead from a website, contact the lead, give free advice, send out the tools and prelisting information.