Finding new landlord clients can be challenging for letting agencies. Not only are landlords difficult to identify – they don’t walk around with a hat reading ‘I’m a landlord!’ – but when they are comfortably settled with a letting agent, unless they have an issue with the agent, they are unlikely to swap agencies. Furthermore, properties are typically tenanted for 95% of the time. It is therefore crucial that letting agencies market to new landlords, those who aren’t yet with an agency.
Employing effective marketing strategies can help letting agencies find new landlords.
Your existing portfolio of landlords may be acquaintances to potential new landlord clients. Offering a referral scheme to your current landlord client list, which invites friends and family to join the agency, in return of a discount or another perk, can not only help you retain existing landlords, but can also help you reach out to new landlords.
Contact tradespeople and cleaning companies
As well as offering an incentive referral scheme to existing landlords, take a similar approach with the tradespeople you use, such as plumbers and repair companies, as well as end of tenancy cleaning companies. Set up a referral scheme in which you can recommend each other’s services, thus helping you to win new landlord clients.
Attend networking events
Networking events for property professionals, investors and landlords are held throughout the year in locations around the country. Attending such events gives letting agents not only the opportunity to stay abreast of changes to legislation and other industry issues, but also the chance to meet landlords and build relationships with potential new landlord clients.
Contact landlords directly
Landlords use many different forums to advertise properties for let. Browse through classified sections in local newspapers and on local websites and email or call the landlords marketing their properties. Landlords using such local marketing methods may be interested to learn how they could market their property with a professional agency.
Write a letting agency blog
Creating a blog related to the lettings industry and regularly updating it with fresh, engaging content, can be a good way to attract new business. Writing about a specific area and implementing keywords related to letting property in a certain town or area, can help your letting agency rank higher on the search engines.
As both landlords and tenants carry out searches for agencies online, ranking higher on the search engines by regularly updating an interesting, unique and well-written blog can prove an effective marketing strategy to reach out and secure the business of new landlord clients.