Ladybird Living – Your London Estate Agent
3 ways to get property owners to move from let-only to a fully managed service
1. Explain the benefits of a fully managed service
Many property owners tend to believe that the only reason why they require an estate agent is to help them with the following:
- Marketing properties
- Finding tenants
- Completing reference checks and contracts
However, estate agents can help with much more than this. You should clearly explain the benefits of a fully managed service with your property owners. You should consider explaining the following:
- The risks involved in self-management such as breaching regulations/ fines etc
- You can utilise social media to post blogs about these risks
- Plan a method of supporting property owners to understand how they are at risk and advise them on how converting to a fully managed service would help to reduce risks.
2. Talk about the amount of time it takes to self-manage
As well as the risks involved in self-management, it also requires a lot of time. You can help your property owners calculate the amount of time they spend on a weekly basis managing each property. This can persuade them to see the impact it is having on their work and personal life and may convince them to consider a fully managed service.
3. Explain why spending a little extra would be beneficial in the long-term
You should explain that spending a little extra can help them save more money in the long-term. For example, if a property owner must pay for a solicitor or must wait for 12+ months to secure evictions, it would be more expensive since they would be paying legal fees, but this could all be prevented if they consider a strong fully managed service.
The information in this post is valid to the best of our knowledge on the date of posting. It is advised that you seek independent advice based on your individual circumstances.
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