To begin with, there are common methods to increase the profitability of an agency. The problem with those strategies is that they are obvious and everybody utilises them. It does not make sense to write about the expansion of property portfolios, hikes in pricing, and the launch of marketing campaigns. Fortunately, this is not the only toolkit.
The best solution, in this case, might lie in a provision of a service that adds value to the landlord or tenant. Moreover, you, as an agency, are able to earn extra commission on the resale value of this service. For example, insurance packages and services are abundant within the management sector of real estate. A prime example being our friend company Billing Better (https://is.gd/fW8BoR), which increases your income by setting up utilities for tenants.
It is important to mention that this method where you resell your partners' valuable services, does not require any noticeable efforts and passively earns the commission as soon as you have plugged it in. Perhaps, it may not bring you all of the money in the world, yet it diversifies your sources of income and is undoubtedly a good practice.
The attraction and retention of new landlords are often viewed as two different tasks. The marketing, branding, and sales teams are usually used for better customer acquisition. For retention, another set of activities is normally used, such as building and maintaining warm relations, special retaining offers, and legal limitations.
But what if you were look at this as an entire task? What if your agency could offer a service that would kill two birds with one stone by making your current landlords happier and more loyal, all while attracting new customers? It would work spectacularly, especially if you are the only one who provides this service in your region.
Wectory resolves all three issues. ‘Wectory’ is a service that pays rent upfront and guarantees a consistent stream of rental income. Your landlords will receive up to a year of advanced rent with our rent guarantee insurance, which protects against missed/late payments. You will make your clients thrilled and surely, they will appreciate the cooperation with you. Furthermore, you will secure a secret weapon to attract new clients, while earning commission from each sale.
We are preparing to launch our Agents Reward Programme and invite the first 100 agencies to partner with us. For our first collaborators we will offer special benefits in terms of commissions. Please be aware that even through our will, we would not be able to accept more than 100 partners due to the capacity limit. You can apply and find out more about our services and programme at: https://is.gd/o8pkQb