Real Estate Dynamics have revealed their top tips on how to leverage your existing relationships to generate more leads in a cost effective way. These strategies will enable you to grow your agency’s rent roll both organically and sustainably.
Below are RED’s seven channels of lead generation that are available to your agency right now:
- Current landlords, clients or tenants
Use your existing database to help generate leads, recommendations and referrals. Many current landlords are investors with multiple properties. However, it’s important to note that you must not discredit your tenants. There are a lot of ‘rentvestors’ that can provide you with rent roll growth opportunities. Ask questions like “‘who do you know who owns an investment property in our area? or “do you own any investment properties yourself?” Treat every customer conversation as an opportunity to generate referrals from your existing database.
- Your sales staff or team
How ‘integrated’ are your sales staff with your rent roll? Ensure that your sales and property management teams are fully integrated. Sales departments who capture investor enquiries are more likely to contribute to growing rent roll numbers quickly. It’s important that you don’t wait until a contract is signed before you introduce the property management team to a prospective investor.
- Tradespeople and contractors
Make it a habit to ask your tradies for referrals for other properties. Treat every relationship you develop in the industry as an opportunity to generate referrals. They can be an excellent source and it’s likely that they’ll know of plenty. In fact, many tradies also have their own investment properties or work with people who have one, so ask around - you’ll be surprised how many will be willing to refer you.
- Partners and suppliers
Reach out to local suppliers involved in the property buying process in your area such as accountants, conveyancers, mortgage brokers and buyers agents. Ask them if they’re happy to refer their clients to you. Remember, if you don’t ask, you don’t get. You can also join local small business networking groups to help make connections and build a local referral network.
- Landlords who buy through other agencies
Keep up-to-date with who is buying through other agencies so you can target for future leads. Data mine realestate.com and domain.com to keep up-to-date with properties on the market.
- Landlords who have an investment property with other agencies
Stay on top of who is renting through other agencies taking note of properties that have been on the market for a long time. Again, data mine realestate.com and domain.com to keep up-to-date with current properties on the market.
- Private landlords
The best time to secure a property is when it’s vacant or even better, when it has been vacant for a long period of time. Landlords are more likely to speak to you if they are desperate to find tenants. Sites like Facebook Marketplace or even Gumtree are great channels to look for privately listed properties.
Want to learn more?
Watch our Organic Growth 101 Q&A webinar on-demand now with Real Estate Dynamics for more tips on how to grow the rent roll of your agency organically.
Real Estate Dynamics provides the pathway for building an exceptional Real Estate service so that industry professionals can achieve accelerated growth and continual improvement in their businesses. We achieve this by applying expert industry knowledge, reliable advice and proven business principles delivered through our real estate business consulting, real estate training and real estate business acquisition services.