How often do agents spend pots of money on getting new landlords while we neglect the ones they already have under management? Here are some practical ideas on how to build a fantastic relationship with your existing landlords.
Just think about those new landlords that haven’t had much interaction with your staff and company, how do you break the ice and open the door to build that relationship? One of the best ideas I have come across is where you invite some of those clients to a “Meet your property manager” function. Put on some cheese and greens and a few drinks at the office or down at your local, have all your key staff attend and invite half a dozen clients at a time. Also have some give aways in a little goody bag for them. Do one event a month and follow up each one personally thanking them for attending and asking if they would give you the opportunity to assist them in any of their real estate needs that may arise.
In your area it may be more appropriate to do a similar function around a BBQ or even a family day. Family days are great for special occasions like Christmas, or your company’s ten-year anniversary, and can include all your class A and B clients.
Another great opportunity is to provide a more interactive newsletter; many of the generic off the shelf newsletters are not relevant to your landlords and end up straight up in the bin. Newsletters need to be personal and provide information that is relevant to them. Give them incentives to refer business to you by running competitions on a regular basis, and make them fun.
Have you ever thought about running seminars focusing on the advantages of investing in real estate or maximizing your investments in real estate? Share the event with your builder/developer contacts, and finance broker.
Then there is always the traditional movie night or similar.
Building a worthwhile relationship takes time and effort but it is still far more effective than marketing and seeking to create new clients, and remember you may have a landlord for many years and if you can earn their trust and confidence you will be THEIR agent and not have to fight with other agents for their business when they want to buy or sell.