As it is in any industry, landing customers is the name of the game with property management. But with so many landlords and home owners opting for the “do-it-yourself” approach, how can you effectively convince these prospects that working with a property management company would be a better choice? Chances are, their main objection is cost, but you obviously can’t give away your services. What you can do is sell the benefits of those services in a way that demonstrates the value of such an investment. Here are five tips for showing a prospective client why working with your business is a wise decision.
High Quality Tenants
Any property owner knows that the key to successful real estate investment is finding – and more importantly, keeping – quality, long term tenants. It’s a common frustration among those in the industry and one that is costly over time. One of the biggest ways you can sell your services to a prospective client is to demonstrate how your company can help locate those high quality tenants on the owner’s behalf. When this task is taken off their plate and they realize they can trust that their turnover rate will go down, they’ll be all over it.
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Worry-Free Peace of Mind
Managing a property, even a small one, is a lot of work. Many new landlords find it overwhelming to keep up with all of the nitty gritty day to day tasks that are required in order to keep tenants happy and everything running smoothly. Present to your prospects that by working with you, they’ll be able to hand off most, if not all of these duties to your company and then sit back and let you take care of it for them. When they realize what a weight will be lifted off their shoulders, they’ll most certainly be on board.
For a small landlord that owns one or two properties, having to do things like marketing and communication management can seem daunting. Not to mention the drain these things pose on their valuable time. Show your prospects how powerful it can be to have the backing of a professional company. No longer will they have to be placing classified ads and trying to schedule showings into their busy schedules. You’ll handle all of the marketing and manage all of the incoming requests so they can focus on other more important matters.
Industry Know-How and Connections
For those property owners that aren’t necessarily handy enough to manage the maintenance of their own properties, or simply don’t have the time, it can be challenging to find professionals that they can trust to get the job done right. The beauty of working with a property management company is that they come with connections to many industry professionals that have been proven as trustworthy. When your prospects realize that they’ll never have to scramble around to find a good plumber or repairman again, they’ll be asking you where to sign.
Access to Powerful Tools
Most individual landlords can’t afford to purchase fancy technology to help manage their properties. But by working with a firm that employs the use of quality property management software, those landlords will now have access to a number of valuable tools, such as detailed financial reporting and online payment portals, to help better manage their investment. Make it clear to your prospects how beneficial these tools can be for their business and you’ll have them hook, line and sinker.
Part of being successful as a property management organization involves effectively selling the value of your services. This is especially important in today’s struggling economy, when people who might otherwise hire you are more trigger shy due to the costs involved. It’s up to you to clearly demonstrate to your prospects just how beneficial it would be for them, in terms of ROI, to work with you. These tips should give you ample ammunition to get out there and start winning over some new clients.
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