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There is No Business Like New Business

We are now mid way through the second month of the year. The muddled month of January is filled with large vacancy lists, annual leave, school holidays and plenty of tenant vacates and new lettings – the good news is – you made it – January is done and dusted.

Now is the time to get serious about your annual growth targets and really lock down a plan for nurturing your prospective clients, providing value add information and ensuring that you are the first person that comes to mind when they think of property management.

We want to grow our database, convert our leads and ultimately add properties to our portfolio.

So, where do we start?

  1. Are you clear on your targets, do you need to reset, regroup and get focused?

Make sure that you have a clear picture of what you need to achieve this year. This includes allowing for holiday breaks, annual leave, training days – Don’t be fooled into thinking there are 52 weeks in a year to gain new business. Make sure that your plan is based around a 10 month year and that any additional business gained outside of this is a bonus. Once you know your annual target, break this down to the month / week and day. Your targets should be visible, at your desk and in front of you every day.

  1. Do you have a clear daily prospecting plan in place?

Make sure you have identified how many calls, appraisals, database contacts and listings you need to convert to leased properties to grow the portfolio. Break this down by day and week and add to your daily targets. Now block out prospecting appointments in your diary and commit to your appointment with the phone.

  1. Is the team clear and focused on your growth plan, are they all referring into the department at every opportunity?

Have you taken the time to speak to the sales team, the wider PM team and all staff in the company about referring any new business opportunity across – no matter how soon the contact is planning on investing in or leasing a current property? Remember you are growing a pipeline of potential clients, not just looking for a property to list tomorrow.

  1. What are you doing to nurture the leads that you already have in your possession?

Set a plan to communicate with your prospective clients on a regular basis. But don’t be fooled into thinking that calling every 1-2 months is enough. Find a reason to call, provide them with content that will make their property search or investor journey easier.

  1. How are you improving your listing technique so that you are converting the business that is up for grabs?

When was the last time you polished up on your listing presentation? Book some time with your manager or a team mate and present to them and be sure to ask for constructive feedback.

  1. Do you have a New Business follow up process in place to ensure that you are leveraging your recently satisfied New Business clients? Are you taking every opportunity to gain those all important referrals?

Every single time a deposit is taken on a new business property, make sure you are calling the client, congratulating them, asking for their feedback and asking for the referral!

These effective steps will be sure to help give you the spark you need to get moving on your growth plan.  For even more ways to kick start your New Business strategy, click here to get in contact with the Real+ Team.

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