What your agent does for you – Part 1 Marketing

We like to blog in series – giving our clients information in bite sized pieces that they can easily digest. In our latest planned group of blogs we are going to look at the role that the agent plays in managing your property

Obviously different agents will have different services and different ways of charging for what they offer, so this is a broad overview of the sort of amenities that benefit you as a landlord and why they are worth paying for. Check with your agent what they offer and what they charge, it is always worth asking if they can provide something you want even if it is not listed in their promotional material.

The difficulty of being a good agent who is efficient at their job is that it can all seem too easy. There is a feeling among some that property management is ‘money for old rope’, but in fact it is a complicated job made easier by experience, manpower, systems and software. All of which may be unavailable to the private landlord.

The first task to discuss is how to get your property noticed by prospective tenants as it becomes available to rent.

Comprehensive marketing

This is something that is difficult for a private landlord to do, even in the age of internet marketing. The problem with putting a small add on a social media site or other sales site is that it is a tiny drop in a large pond, or to use a property analogy a small voice in a very big towerblock. You will possibly find a tenant through your private contacts especially if you have a very desirable property but it is much less likely than agents who can access large property portals as well as their own websites.

Agents use a range of marketing techniques including having a website and building brand awareness through office space, sign written cars, leaflet drops, agents boards, and not least their network of clients built up over years of experience. They may also be able to offer products that are not available to the private landlord including professional photography and floorplans.

Tenants find property through a number of different routes and good tenants often work on word of mouth recommendation. By building up a good reputation agents can attract friends of existing tenants without even needing to advertise, because they have marketed the service their business offers. If existing tenants have enjoyed a good relationship with their agent and they need to move within the agent’s area then they will usually contact the agent first to see what else they have. Given that these tenants are going to move anyway it is much better to keep them in-house as they have a proven track record, and so if you find an agent that you like to work with the chances are tenants are happy to stay with them too, this means you get access to their best tenants and there is no better reference than a prior knowledge of a tenant through your agent.

If you want to know what tenants and other landlords think of your agent then you can find reviews online. AllAgents offer a easy way for clients to leave feedback about agents which is then publicly available to all. Click on the link below to see reviews on Riley Marshall and others.

Part 2 will come out next week.