As a property manager, getting a new owner for a property is usually not easy. This is because some properties may have deteriorated over the years, and even sometimes, the owner’s perception of their property’s worth is often overestimated. Nonetheless, as a property manager, it is crucial that you can get people to not only look at the properties but also to buy them at very good prices or lease them for various purposes. How then can a property manager get owners? How can a property manager convince a potential buyer? How can a property manager make good sales? Do you have questions like these and many more? Then these tips are for you.
Get good referral
As a property manager, understand that the distance between you and your next big property management deal is one or two of your previous clients. When you sell properties or manage one, do well to give it your best shot so that clients can easily refer friends back to you. Your buyer probably has a friend or two who are also looking into buying properties; your tenants have a sibling who’ll like to invest in properties; so, you have to use the network that you already have to find and target new ones. Let your buyer know that you have properties at hand to sell. Let your owner know that you and your company are still available to take on more managerial duties. Make the best use of the effect of word of mouth to build your property management business.
Connect with people
When you meet new people, what first impression do you let them have of you? How deep are your conversations, and how well would they trust you to handle a property? A good tip for a property manager looking to get new owners is to connect with people. Hold conversations and talk about your business without pushing it into their faces. Discuss why a property manager is needed while making instances. Those small conversations around a table could be a little more yielding. Let them trust you enough to handle their property. And of course, do not forget to leave your business card or contact details behind. If you couldn’t convince them at that moment, they may change their minds later.
Build a portfolio
You want a good landlord to hand over his property to you for management? Then what have you done? How can you convince him that you are the best choice to make and that you are capable? Your portfolio! It says a lot about you than very many things will. Keep records of the properties you’ve managed and the yields from each one of them. Where you were able to increase the tenancy, those times you got properties good deals when selling, a time you increased a property’s market worth with touches, take note of it all. Also, maintain a good relationship with old clients. Owners are more likely to use a property manager based on recommendations. This is another reason why you should keep a good reputation, though a property manager-owner relationship may be tough.
Set a standard
As a property manager, working with people, especially tenants, can be very difficult, what’s with payments and all. However, when you set a particular standard for your relationship with them, you are likely to win hearts. Do you reply to them early when help is required? Do you handle small matters and even the big ones? Are you or your company available for all inquiries? Have you been making tenants endeared to the properties? Do you manage? Then be assured they’ll tell their friends to approach you when they need a property. Owners can sense this.
Being a property owner running a property management company is also like running a business, so market it. You have a company to run and employees to pay. Therefore, it is vital that you get new owners to sign up at every opportunity you have. Treat your business as one because it is one. A good tip for getting new owners as a property manager is that you should market your company. Employ the various means that you’ll use for marketing a clothing line and getting down to work. Do not forget that in the process of marketing, you must connect with your owners and discuss the right things.
While applying the conventional means of advertisement or marketing, go online. Build a good social media presence and target your audience in every way that you can. Make use of blogs, SEO, surveys, and property investment discussions to boost your company. Discuss the solutions you can offer and how much you can build a property. There’s a frustrated property owner searching the web for answers to a property problem; he’s your owner. Just like many of the others. Therefore, talk about what you do more.
In all that you do for the management of properties, appear professional. Not only looking through but also be professional. Build a reputable website. Answer questions and inquiries about your business appropriately. Ask the owners the necessary questions. Talk about their problems while showing your portfolios and telling them what you will do when you manage their properties. Be accountable and avoid giving excuses in any case. If you have people managing, then ensure they are also professionals.
Create a structure
One of the best ways of getting new owners is to have a structure in place. How does your company operate? Whom do our owners deal with, and whom do the tenants talk to? When it’s sales, who markets, and who does the negotiation? Are they all capable people? Creating and following the structures you’ve created for your company gives you an edge over property owners without structures.
Are you a property manager who is particular about a particular state, community, or town? Then, it would help if you were talking to the locals. They are your audience and your informants. They know who’s selling a land, who’s having a hard time managing his property, and who needs help with property management. Engage in conversation and network, that’s one way of knowing who you’ll be pitching your business to.
One of the best tips for getting new owners as a property manager is partnering with other service providers. However, ensure that the service providers provide services related to property management. When you partner with them, you get higher chances of getting new owners. When a property owner approaches them for their service, they could introduce your company alongside for the owner to get more packages of the companies you’ve liaised with. Eventually, it’s a win-win situation as you both get jobs either way.
A property manager’s best bet to staying in business is to get as many owners as possible to sign up with his company while doing an excellent job with the management. And of course, for the good of property owners as well, a property manager is required to handle all troubles as a middle man. Convincing owners that you are the manager is the real deal.
Lastly, the Booking Ninjas Property Management System helps you get and retain owners, by letting them see that their properties are in good hands. We provide the best property management experience at business-friendly prices. Click here to learn more.