wow, this question can be answered in sooo many ways.  Let’s start from the beginning, have you started a prospective landlord database and are you communicating with it?

To start, try adding every local business owner, everyone in your own contact list and then start communicating leasing and management activity within your business to them.

Social Media comes to mind…..

i have set up a prospective landlord database trying to find ways to add to that in a proactive way. Havent been communitcation with as regular as i should.

Have given the social media stuff ago but arent having much success in generating new business.

The best form of marketing we have done is mail out to absentee landlords in the area with a slogan like Jumping January or jiving july. Then following this up with a phone call that has worked the best to date.

Thanks for the feedback much appreciated

Hi Scott

Not sure if you have a sales team in your office.  I used to get their open sheets on a monday morning and phone all prospective investors and invite them to be on our monthly email list to receive a newsletter (the one available from this site of course ;) ) to keep them upto date with the Rental Scene. Great way to stay in touch, build the database and get your foot in the door to be in the forefront of their mind when they find the house they are looking for and are looking to use an agent.

I used to drop brochures into local accountants and tax offices in the area – they get a lot of investors through especially around tax time.

I would call private landlords who advertised on free internet sites and in the newspaper and offer to put their property on the internet (realestate.com) with their details and phone number for a $80 fee – this would open the door to discuss our services - they may initally take you up on the advertising offer but may look to use  you in the future.

Keep an eye on properties that have been on the sale market for a long period of time – send a letter and suggest renting out and try selling again at a later date.

Incentives for current landlords who refer your services.

Run an Invester seminar in local area – I used guest speakers such as an accoutant in the local area, rep from Terri Scheer Insurance, rep from BMT & associates to talk about depreciation and of course someone from your company.  Invite all landlords, investors from your database and investors that your salespeople know of.

Of course their are lots of other ways – but just a few thoughts.

Good luck!

Scott, The best suggestion I can give is to start working your existing client base for referrals. Your customers will do a better sales job then you ever could. There are many ideas on getting referrals, just do a bit of a Google search. I also think you might be being a bit hard on yourself.

There is no silver bullet. Direct mail outs and telemarketing by their very nature usually have low conversion rates. If you are getting 1 in every 100 responding to your mail outs and phone calls then that is good by many standards. Review what you’re saying and see if you can increase the % of people that respond positively. Pat yourself on the back when you get to 2/100 and keep on working at it. You could try improving what your direct mail says. Does it provide something of value? Are you saying something that the landlords care about?

One of my favourite direct mails is one I received from sales at Ray White Neutral Bay that said something along the lines of “We recently sold a property in your street. We know this area, this is proof we can get you great results. Call us.” You could get a satisfied landlord to do a testimonial. Then mail this testimonial out and say “We increased the rent Jim received from his property by X%”.

Cheers, Scott

Hi Scott. I agree with Scot M, growing rent rolls is a very slow business and you cannot expect instant success with it. I also agree that the best place to start is your existing Landlords. It is amazing how many of your owners will have other properties with other agents just because they bought it through that agency or they may think it is out of your area.

Try doing “good news” calls. These are not calls with good news like rent increases etc, that is part of our job. A call along the lines of, “Hi (landlord), just a quick call to let you know that I have completed a complete review of your file and everything is up to date. That maintenance etc that was reported xx weeks ago has been completed, the rent review that we discussed xx months ago has taken effect etc etc. Just wanted to let you know that everything is running smooth on our end”. Do you have any questions?

I would not suggest that you ask for any more business on the first call (unless they mention it), but you might finish off the second call with “are you happy to receive these calls”. If they respond positively, you might ask if there was anyone else that they may believe that you could give this service to.

Good luck and hope you end up with a terrific market share of terrific Landlords and properties.

Regards

Andrew

I love all the tips and info in this forum – Rachel in particular you’ve given me some very helpful ideas! I especially like the idea of dropping brochures to Accountants and Tax Agents at this time of year.

Just wanted to have a little brag because I’m proud of myself – 5 new managements this week, on the way to setting a record for myself! Maybe doesn’t sound like much to others who are in full swing of growing the rent roll but I’ve got to celebrate things along the way :) 3 appointments still to come tomorrow so should be another 3 managements then…

Brag away Maxine, yesterday Investors loving your Field Agent point of difference, 5 managements down so far this week, fingers crossed for getting the next 3. apmasphere mug on the way if you do – do let us know!

Congrats Maxine 5 managements in a week thats good in any office or market place good luck on the other 3.