A lettings expert with more than 30 years’ experience is calling on agents to take five essential steps to boost their business.
Sally Lawson, a former ARLA president now leading the Agent Rainmaker coaching team and transforming the fortunes of hundreds of fellow business owners, says implementing the changes will increase revenue and push profits up towards the 50% mark – much higher than the current industry average of 12%.
She explains: “At Agent Rainmaker, we believe the industry should be aiming for much higher profits. But this isn’t simply a dream, we are working with agents who are well on their way to reaching that 50% profit margin – and even a few who are exceeding that and now aiming for 60%!
“They’ve all followed these five essential steps, and seen the impact it has on their business. That’s why I’m sharing the steps – and they’ll be the focus of our upcoming ARX Mastery virtual weekend.”
Sally’s essential steps are:
Get off the tools – If you’re stuck in the business, you’re not using that time to focus, learn and research what can be done to grow the business. Your number one priority is to step back, to focus on the other steps towards success.
Look in the mirror – Putting off tasks because they seem difficult, or even avoiding them altogether, can become a habit – especially if you’re the business owner so no one is holding you to account. But you have the ability, status and willpower to make these things happen, and you’ll often find they’re the things which will enable the business to grow: like running seminars, developing a marketing plan, or building connections.
Automate your marketing – You’ll need lead capture tools, a CRM system or prospect database, and someone to oversee the ongoing management of the process. Without these in place as part of your automated marketing activity, you’re simply letting landlord data pass you by.
Don’t believe the myths – If you listen to rumours, you might believe that you can’t charge for all the work you complete, that there are no properties or landlords out there, or that staff recruitment is impossible right now. None of the myths are true – and all perceived roadblocks to your success can be overcome, you just need to take a different route to your destination.
Modernise – The most successful letting agencies are now outsourcing many functions such as routine call answering, they’re using Business Development Managers to convert the automated leads being generated, and their skilled staff are solely dedicated to dealing with highly complex issues. By modernizing, they’re now working towards (or even beyond) a 50% profit margin.
Visit www.agentrainmaker.co.uk for more information about the tips and techniques agents are implementing to help grow their business and increase their profits.
