Most real estate agencies we deal with have a sales team that works alongside a property management team. However, they are often quite removed from each other, with communication levels leaving a lot to be desired.
When I ran my agency, one of the best sources of new business was from my sales staff. This goes to show that, when growing the rent roll, you should take a holistic approach and remember it’s not just your BDMs that speak to potential clients.
Educate your team
It's difficult for a staff member in another department to sell a service they know nothing about. So, it's important to educate your team on your approach to property management. This will help them understand your service and how you differ from the competition.
Also, remind your sales agents that it's a great way to cement a relationship with a seller prospect. The client is less likely to consider other agents when the time comes to sell if their property is already on your agency's rent roll they have a good relationship with your team.
Attach the proper incentives
As outlined in many of our previous articles, rewarding your team members for seeking out and even converting new landlords is key to keeping them thinking about new business whenever they meet a new person.
Don’t neglect your buyers (or tenants)
Buyers become owners very quickly. Use the enquiry you receive on sales listings and treat everyone as a prospective landlord. The best way to capitalise on these leads is to implement a shared CRM/database to ensure bases are covered when it comes to a client's needs.
The same goes for tenants, as 'rentvesting' is more popular now than ever before. There is a good chance the prospective tenant who has applied for one of your agency's rentals could also have their own investment property.
Engage your external partners
What relationships have you developed with industry-adjacent professionals? Contacts such as mortgage brokers, accountants and financial advisers work closely with investors as clients and offer trusted advice to them when it comes to issues relating to their property. Utilise these relationships by asking for referrals and let your partners know what services you can offer their clients.