How do we consistently get results in growing a rent roll?
The world of a Business Development Manager can be very exciting when we are signing up new clients regularly and ringing an office bell for exceeding targets. This excitement can sometimes be like that of a rollercoaster ride, with exhilarating highs and anxiously anticipating lows. But does it have to have lows or is there a way we can flatten the curve to make the ride more of an escalator to our desired location?
Something we can do to smooth this ride out is to monitor the actions which lead to our results on a more regular and consistent basis. If your target is to grow the business by ‘x’ number of managements each month, then how many appraisals would you need to have based on your previous conversion rate?
Once you know this, how many property leads or new clients in your database do you anticipate you would need to reach this number of appraisals?
Now we’re getting into some exciting territory to find out how much activity we would need to conduct in order to generate these new leads. This could be in the form of newsletters, mailbox drops, social media posts, but mainly in the form of calls to people, your business is coming in contact with through open homes and enquiries.
When we monitor these activities on a more regular basis, we can act faster to get us back on track if the activities have dropped off. Otherwise, we might not notice until we are already in a lull of new listings and our market share is being affected by other eager agencies who are riding a new wave on their own roller coaster ride.
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