Your business may have been taking advantage of the recent sales boom, boosting your cash flow and generally creating a positive vibe around your agency. 

But while selling houses is great, don’t ignore the lettings side of your business. Having plenty of landlords on your books is the backbone of any estate agency, offering you the stable income that the unpredictable nature of sales can never do, and adding value to your business.   

Whatever is happening across the market, management fees from your landlords will bring regular monthly income. So if you want to grow your business - and maybe have the option of selling it in the future - you need to invest time in expanding your landlord portfolio and the property management side of your agency.   

If you’re wondering how exactly you should be doing this, we have a tried and tested six-step process aimed turning a cold prospect into a client landlord, who’ll stick with you for years to come. 

1 Do they know you exist?

Probably not. So, your first job - as with any marketing campaign - is to build awareness. One of the best ways to create awareness is social media - both advertising (we’d recommend Facebook ads) and organic posting. Google search engine optimisation is key too, but also think about PR and word of mouth (by encouraging reviews). First you need to define who your target audience is - think about who you are aiming to reach and direct your awareness-raising tactics to them.  

2 Engage with them

Once prospective landlords in the area you cover know who you are, they need to get to know you better - and, crucially, to TRUST you. So, you need to put in the work to build those relationships.  This is where we’d suggest you bring in content marketing - so blogs, videos and webpages that talk to them, with solutions to the things that keep them awake at night.  

Use email marketing, search and social media marketing to direct this content to them. For example, you might decide to write a blog, which helps landlords to expand their portfolios. They’ll love this because it’s no-obligation advice that they can apply to their business. Yes, you’re giving it away for free, but you’re also building trust. 

3 Add them to your email list

Getting them to read your blog posts might make them feel warm and fuzzy about you, but it won’t necessarily generate business. So, for the next stage, we suggest you offer them something even more valuable - as a download. We’re thinking here of a white paper, a guide, a checklist or a report. For example, if you want to attract more accidental landlords, an A to Z of renting out your home, would be a good idea. Offer this guide in return for their email address - make sure you add a clear opt-in box to ensure GDPR compliance.  This stage is crucial and the first point where you ask for a commitment from the prospect.  

4 Convert them to a hot prospect

Now that you have your prospect’s email address, you are in a position to take your relationship to the next level.  Their willingness to engage with your blog and downloaded content reveals they are concerned about a specific problem. You now need to demonstrate that you can solve it and in doing so achieve conversion. At this stage you might offer a free consultation - by phone, online or face-to-face - to discuss the same issue.  

5 Make them excited about working with you 

Having built a relationship, you need to convince them that they are excited to work with you, by wowing them with your knowledge and level of service from the start. Even if your initial contact with them is fairly low-level, make their experience such a good one, that you create excitement and turn it into trust.  

You’ve made great strides in converting the prospect so far but you need to get this phase right to push them on to the final important stage … 

6 Make them a loyal customer who’ll stick with you and be an advocate 

By now you’ve invested time, money, and resources in acquiring landlord leads - this is the point where it pays off, they sign up for your services and you begin to make a profit. While it seems like a long haul, it’s important to remember that you’ve been investing in future profits - you want this landlord to stick with you and even give you their entire list of properties to manage.  You also want them to recommend you through their networks and maybe shout about you online too. 

We know that converting landlord leads is a tough and painstaking business - but stick with it, and follow our steps in order – we think you’ll find it pays off. 

Need help with attracting and converting more landlords? Go to www.artdivision.co.uk and book a call with Nelly.

For more information visit the Art Division landing page on Kerfuffle