‘Chris, I have a great idea... instead of posting the newsletter online about the local property market, I will ask for landlords email address to subscribe to it, and then I will send loads of email addresses and I can sell things too.’
‘OK Michael, that’s a good idea, but if you have been
reading my blog for the last few months, haven’t I always advocated you have to
give before you receive? You do subscribe to my blog, don’t you Michael?’, to
which he replied,’ No Chris, I log on most days to have a look but don’t give
my email address away ...... er ....
yeah ... I think I have just answered my own question, haven’t I Chris?’
You see, landlord farming is the blueprint for any modern
lettings agency wanting to get ahead in this new information hungry landlord
client controlled digital age.
Nowadays, you have
to give before you receive.
I am not suggesting you give your management services and
tenant find services away for free, just your knowledge, but the knowledge that
other people, especially landlords would find of interest ... your knowledge of
the local property market in newspaper editorials, newspapers and blogs about
the local property market ... and give it away for free without any barriers
(including the giving of email addresses).
No money and no commitment is required to receive this
interesting info about the local property market. Essentially landlords can
read this info and chose to walk away with free advice – with the letting agent’s compliments.
By creating as much free content about the local property
market for your clients and prospects for them to enjoy, digest and absorb without
wanting anything in return, you make it easy
for your landlords to buy from you. One of my client’s in Buckinghamshire posts
everyday ... unfortunately (for his opposition) six months on and he has now
tripled rental market appraisals (for the last few years, it was on average 1 a
week .. now its 3 or 4 a week, and some days he does two appraisals a day)
If it’s done right, landlord farming goes beyond simply
removing barriers to entry such as payment and shows and tells where the next
best buy to let property is, irrespective of which agent it is on the market
with. True, it’s quite a challenge for letting agents to actually make it easy
for landlords and potential landlords to buy from you. But its well worthwhile.
... but at all
times, we must not forget, this is a people business. Your blog and articles
are from you, not your firm. The sooner your prospective landlords know
about you the sooner they get to like you and the easier it will be for you to
engage in a more meaningful way with them when the time is right.
The stuff you write has to adhere to the guiding principles
of the 4 part article (I’ve mentioned this many times in previous blog posts).
It must also be confident. What you write, your content, won’t be great unless it is confident. If you
can’t write, I can write it for you, but if you do write, it has to be utterly
confident which you have to demonstrate in great quantity.
But at the same time, add some personality to your blogs.
Most regular blog readers will know of Joey, our Rescue Dog. In fact more
people ask after him than me!
If you can get
people to read and trust what you are saying, then they will give something
back in return. On my blog, I have a subscription service, that people can
enter their email address. You could take that further and have an ‘investors
club’, which in the case of one my clients , under my guidance, have set up his
investor club which gives members 24 hours headstart on the buy to let deals.
These subscribers will benefit from any snippets about the local
property market, and who knows, when that landlord finds a property, as they
have been building up a relationship with that letting agent, they will
naturally give the property back to them to let.
The important thing to remember is that if you want to
obtain email addresses be prepared to give something in return. You have to make
your landlord prospects eager to come back for more great content.
Yet some people run
a mile when writing blogs or articles, and yes they need to be
compelling from start to finish. What you write has to intrigue from the title,
to the first line and each line and paragraph will flow smoothly into the next
building enthusiasm and desire to read on. That can easily be done by writing
the article as a story
Look at this letting agent story’s ... but before you do,
let me tell you first ....you don’t come from Derby, so won’t be interested in
the slightest at the Derby articles, but most of the landlords who own property
in Derby, come from Derby .. so they will be interested. Just change Derby to
your town and now, would the local landlords love to read these sort of
articles about yours/their own town? http://www.lettingssimon.blogspot.co.uk/
You have to write stories about your local town or city and
bring it’s local property market to life in an almost tangible way. You have to
be consistent, regular posts like a dripping tap. Your timing has to be
exquisite and your posts need to be effortless. You need to add layers to the
story increasing its appeal and always a twist (the third element of the four
parts to a story mentioned above).
I know it isn’t
easy, all this landlord farming. The hard part is doing it for months with no
return, no phone calls, nothing ...but if you do this whole heartedly, writing
great content in your articles, newsletters and blogs, I guarantee you
will succeed and grow. Don’t be afraid to give more of yourself and expect
little in return – and then you may be pleasantly surprised.
My early clients who started with me in the Spring are now
starting to see the fruits of their labours. Some have had wobbles, but if you
enjoy writing about the local property market and it brings a smile to your
face, then people (landlords) will see that, that you enjoy what you do and you
are passionate about what you do. By giving this advice away for free, without
any expectation of anything in return and with a genuine smile on your face,
you are being generous and generous
people are happy people.
So when you are considering starting this landlord farming
process put everything into it with a smile on your face. Do not expect an
instant return but do expect people to talk about you, tell others about you
and your great content... because there isn’t much more interesting than the
local property market to local landlords, is there?