Your agency’s average number of days to rent a vacant property could win you more clients. How? The new breed of property investors are savvy, do their research, and ask more questions to ensure they hire the right agents to manage their investment properties.
Great Agents Make the Difference
The right agents come from agencies with proper policies and processes to successfully manage investors’ property or portfolio. Such agents are considered specialists in their respective market areas — meaning they have the experience, knowledge, and skills to ensure minimal vacancies, maximum returns, the best possible tenants for the longest possible terms, and optimum capital growth. Hiring the right agents puts property investors in a position to hold them accountable and know that legislation and best practices have been followed in the management of their properties and tenants. Ultimately, the right agents make property investors more money — that’s why investors are now going to such lengths to ensure they find and hire them.
The One Question Savvy Property Investors Ask
So, if prospective clients ask you or your property management team, “What is your agency’s average number of days to rent a vacant property?” what should your answer be? Your answer should be a figure lower or equal to your agency’s market area’s average number of days to rent a vacant property. This shows prospective clients that your agency has a good leasing policy in place. It also means your agency lists properties as soon as tenants notify you of their intention to vacate, in order to minimize vacancy periods. This is what the new breed of savvy property investors want.
This new breed of savvy property investors will come to you armed with up-to-date facts and figures on their respective market areas. So be prepared: Not only will they ask you this question knowing what answer they need to receive, but they may also verify your response to ensure you didn’t simply make up the figure on the spot. To verify your answer, they may ask what your agency’s market area’s average number of days to rent a vacant property is to see if it matches the figure they found through their research. If you provide the same figure, it shows that your agency and its agents really are market specialists — this alone could win you more clients.
The Secret to Winning More Business
So, if your agency’s current average number of days to rent a vacant property is higher than your market area’s average or, if you and your team don’t know what your average is then I suggest you put some measures in place to improve and measure this figure. Knowing this figure and providing the correct answer because your agency has proper policies and processes in place however, could very well win you more clients.
For more information on how to improve your property management business’ operations and service standards so you can answer prospectives’ questions correctly and win more clients, visit and pre-order your copy of Find Your Property Manager NOW: Hire the Right Agent and Make More Money.
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