Technology can play a vital role in growing your rent roll and contrary to popular opinion, it doesn’t have to be confusing. Ellen Bathgate explains some simple tools you probably already have in your office and how to make the most of them.
One of the best things about being in the real estate industry is technology.
Technology can make our jobs as property managers much easier.
In fact, tech makes us more efficient and allows us to deliver better service than we’ve ever offered.
Yet, in a world where technology is advancing at warp speed, it’s easy to become overwhelmed.
How do you know what tech is best for your business?
Here’s the good news.
There are three pieces of technology that will help you grow your rent roll.
What’s even better news is you probably already have them in your office right now!
1. CUSTOMER RELATIONSHIP MANAGEMENT (CRM) SOFTWARE
Whether you’re using free CRM software or the fanciest real estate-specific CRM software, this one has to be on the top of your list.
Let me be clear, CRM software is not your trust accounting software.
CRM software is the tech tool you use to automate the follow up of potential landlords.
Typically, it’s the sales department in a real estate agency that gets full use of the office’s CRM.
This means the property management department misses out on using this valuable piece of software.
It’s time to push your sales team aside!
Get yourself a login to the CRM software in your office, and set yourself up in the CRM now.
Once you’re logged in, start with these three actions:
New lead follow-up
When a new lead comes into your database, you want to follow them up automatically.
The goal is to move the lead toward a phone call or appointment with you or your BDM.
Program your CRM to send a series of between three and 10 emails over two weeks to encourage a new lead to become a new client.
If you have prospective landlords on your database, and you’re not sending them regular emails, you’re missing a big opportunity.
According to OptIn Monster, 58 per cent of people check their emails in the morning before they check their social media.
This means that you need to prioritise your email marketing above your social media strategy.
Your priority, when it comes to growing your rent roll, should be communicating with the database you already have access to.
In fact, communicating with your existing database will help you take those potential landlords and turn them into new clients.
Your CRM makes it easy to remember and celebrate birthdays and the anniversaries of your clients (and potential clients).
Use your CRM to do one of two things.
1. Remind you about your contacts’ anniversaries or birthdays, so that you can make the call, send the text message or post a card.
2. Automatically send a birthday/anniversary message on your behalf.
If you’re going to send automated birthday/anniversary messages, please take the time to write them with a conversational tone, so that they feel genuine, and not robotic.
2. WEBSITE (with a few features)
Your website is your digital shopfront.
Your website can use tools and features you don’t have on social media.
Too often, agency websites are focused on capturing buyer attention.
So, if you’re trying to grow your rent roll, you need to work on your website to get it generating landlord leads.
If there’s one thing you need to have on your website to help you grow your rent roll then this is it:
Opt-ins – everywhere!
You want to make it easy for potential landlords to give you their contact details (or opt-in to your database).
So invite your website visitors to join your database, sign up for your newsletter, download a free checklist or eBook, or something else valuable that allows you to capture contact details.
You’ve seen all the fancy sales videos, right?
Flash cars, models walking next to the pool, and great music in the background.
Now, while you might not quite have the budget for a production like that (although, it’s good to have goals), I’ve got good news for you.
Some of the best videos for growing your rent roll are the videos you film yourself, on your mobile phone, speaking to the camera, just like you’re speaking to a landlord.
So, whether you use these videos on your website, your social media, or sent individually in an email or SMS, give this type of video a try.
Focus on creating real, raw, authentic videos, and you’ll be able to develop a deeper connection with your potential landlord clients, even when you’re not with them in person.
Even though you might see other agents in your area using fancy technology that you may not have the budget for, you don’t need to worry.
If you use these three simple pieces of technology, you’ll be able to grow your rent roll faster and with more predictability.
Ellen Bathgate is the founder of Rent Roll Starter, and helps rent roll owners to start and grow their rent rolls using affordable growth strategies. For more information, visit rentrollstarter.com.au