<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=641321612913248&amp;ev=PageView&amp;noscript=1">
  • AgentHub
  • How to Make Your Letting Agency More Efficient

How to Make Your Letting Agency More Efficient

30 April 2020 Simon Banks Read time: 3 min
Share this article
Simon Banks

Everyone is looking for ways to be more efficient. From the government, all the way to the latest Instagram influencer, sectors from all angles want to cut costs, speed up processes and increase their bottom line. And it's no different for agents who are looking to make their letting agency more efficient.

For many, efficiency means reducing staff, yet measures don’t need to be so drastic. Operating with efficiency is fundamental to your success, though, so you want to make sure everyone is on top of their game. That involves a smarter way of the day-to-day running of your agency and maximising interactions with renters.

By equipping your employees with the necessary tools, you can speed up workflows and create a solid structure that helps your agency get the best results.

How do you do it, you ask?

Read on, and find out how to make your letting agency more efficient with these top tips.

Be accessible

Agent texting a renter while holding a coffee

 

 

Renters are busybodies, which means they want fast responses when enquiring about a property. You might not possess telekinetic powers that alert you the minute there’s an enquiry, but you can use tools to help you respond more efficiently.

Having access to live chat technology means you can respond quickly and efficiently without needing to go through copious amounts of email trails. Live chat in other industries can be vague, but it's usually more specific in the lettings industry.

The gist goes something like this: renter sees a place they like, asks to book viewing, waits for the agent to respond. With live chats, you can respond quickly and efficiently, saving time and facilitating a scenario where you can get the renter in their new home asap.

Content is key

New instructions are the name of the game for letting agents. But then you need to fill that shiny new stock up with high-calibre renters. Traditional marketing methods like canvassing still play their part. But instead of going out looking for new clients, why not let them come to you?

Creating content around your target audience can save both time and money, and it’s a great way to attract new leads. Content marketing costs 62% less than traditional marketing but generates three times as many leads.

Writing blog posts about topics in your industry, email marketing, social media, vlogging — these are all efficient ways to create engaging content. As a result, your audience will find you more authentic and show greater interest in your agency.

Motivation is the name of the game

 

 

via GIPHY

A motivated team is a focused one, so keeping everyone at the top of their game will create a better working culture. Sharing regular KPIs (key performance indicators) gives team members something to work towards and a feeling of achievement.

The achievement is two-fold: reaching individuals goals is great, but also knowing you're part of the greater collective that helps the team reach their targets is just as fulfilling. If everyone has a clear and identifiable way to move forward, the team as a whole stands a better chance of achieving success.

Regular training also helps foster an efficient working environment. Keep everyone up to date with the latest technologies and take time to train your team. Training might seem like extra work at first. In the long run, however, it will produce more efficient staff who are completely confident at their job.

Smart onboarding

Employee turnover is part and parcel of professional life. Yet that doesn’t stop many companies almost coming to a halt when an important team member leaves. You can avoid these complicated scenarios by having a watertight onboarding process.

Create a structure aimed at letting new team members integrate into your set up seamlessly. Put a plan of action in place that includes easing them into a new life at your agency, integrates them with other team members and provides regular checks that measure how well they’re learning the new role.

Video walkthroughs

Viewing a property is one of the most important aspects for renters when they decide to move into a new home. But it's also one of the most time-consuming. From arranging a time that suits everyone to the travelling required to get to the property, it’s fair to say that the process is lengthy.

Video walkthroughs provide the best way to cut down viewing times by offering renters the chance to see the home without physically attending the property. Imagine if a renter could see an in-depth walkthrough that showcases an accurate representation of the property with all the necessary information attached on the listing page.

Many renters would be less inclined to book a physical viewing as they’ll see everything they need to know on the video walkthrough. Those walkthroughs can lead to faster tenancies and your agency cementing itself as the top dog in its area.

Make the renter’s life easier

The goal is to let as many homes to renters as possible, and the only way to achieve this is by creating processes that benefit your renters. Fostering good relationships with them is essential, as is creating an environment where they feel confident.

That means being responsive and making things like arranging viewings, submitting paperwork, and getting queries answered as straightforward as possible. Renters hold the key to a smooth running agency.

Living an efficient life

Working smarter and being more efficient will help you improve profit margins and provide the best service possible. With our tips, you can set yourself up for success and create a more efficient working environment that yields better results, in the short and long term.

Sign up to receive the latest updates

Introducing our latest YouTube videos

Watch Videos

Related Articles

Download the App on iPhone or Android.