Four ways letting agents can beat their local competition for landlords
20 February 2018
With one in five high street estate agencies at risk of going out of business, it is now vital to establish yourself as the leading agency in your local area. Here are five ways to pull ahead of your competition.
Competition for landlords is hotter than ever, but agencies with well-positioned brands, who know their customers - and their competitors - well, can pull ahead of their local competition to win more instructions.
Position your brand
Think of your brand as an extension of you when you’re not there to speak for your agency. As more and more people turn to the internet to research their options, more so today than ever, most first impressions of your agency will be a result of your website and online marketing materials, so make them count. Know what your brand stands for, who you sell to and what your customers want to know.
Your website is your online shop window and your greatest digital asset, so do be sure not to fall short in ensuring that it’s easy to use, up-to-date and educational. Another way to elevate your brand presence is to create content showcasing your industry and local knowledge, not to mention your well thought out opinions on the market.
Know your customers
The fastest and most efficient way to increase your customer base is to ask your current customers for feedback - both positive and negative - on your services. What should we never stop doing? What can we do better? Was there anything additional we could have done to make the process easier?
Once you know exactly who your customer is and what they want, be sure to tailor and improve your services to fit their needs. Additionally, don’t forget to also tailor your marketing materials to support messaging and ultimately you will be on the right road towards bringing in new ideal customers.
Know your competition
Knowing who your competition is and the services that they provide will be your ultimate weapon in becoming your local area’s top high street agency.
How does your agency compare in portfolio size? Fees? Services? Online rating? Measure yourself against your competitors: look at areas you can improve on and use marketing to scream about the areas you are a top player in.
Know what success looks like
If your goal is to be the top local agency this year you should have milestones and targets that prove you’re on a successful path to doing so. Possibly increasing your Google Reviews score by a star? Growing the number of referrals you receive? More traction on your local property blog? The list is endless but your goals should be predetermined, measurable, and visible to all staff in the office.
Oh Goodlord Limited is an Appointed Representative of Goodlord Protect Limited for general insurance products and credit broking. Goodlord Protect Limited is directly authorised by the Financial Conduct Authority, registration number 836727. You can check this information on the Financial Services Register by visiting www.fca.org.uk/register or by telephoning 0800 111 6768 (Freephone) or 0300 500 8082 from the UK. The FCA is the independent watchdog that regulates financial services.