With the market fluctuations seen across the industry over the last year, more agencies are turning their attention to their Property Management teams, securing stable revenue to help support business operations and growth.
In addition to providing stability, this fixed income can also help an agency to increase its value with the predictable and reliable income being perceived as more valuable to potential buyers or investors.
In a competitive market, how can you continue to grow this steady income stream?
There are two main ways to grow your rent roll – buy a rent roll off one your competitors, which can cost roughly 4x the annualised management fee per property, or organically grow your rent roll by generating & converting leads.
Your open home and current sales listings are perfect organic opportunities to cross-sell your services to potential investors. But what about your website visitors who may be researching the current market and your service offerings? Do you currently have a way to capture their details or find out what their needs are?
That’s where CoreLogic’s Customer Engagement Tool can help.
What is the Customer Engagement Tool?
Integrated directly into your website, the tool allows your website visitors the opportunity to understand the potential rental return, yield and value of their investment property. In exchange for their contact details, they can download these valuable property and suburb reports, and you have the opportunity to continue the conversation and understand their needs.
Upstate generates 130 property management leads
Award-winning real estate agency, Upstate, is using CoreLogic’s Customer Engagement Tool to help turn their website visitors into leads and drive growth in the property management department. Since its introduction in January 2022, the team have received over 130 warm property management leads.
With each lead representing an average annual management fee of $1,587*, imagine what 10, 20 or even 100 new properties in your rent roll would be worth to you & your business.
*Annual management fee based of the national median rent of $555 x 5.5%