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marketing customer service win landlords new business letting agents landlords   |   10/3/18 2:54 PM

How to Win When You're on a Landlord Valuation

Hey lovely agents! Winning a landlord valuation is one of the most important parts of your business: no agency could survive without properties, and you guys have to work hard to add as many new properties to your portfolio as you can! 

Recently, we shared with you our step-by-step guide to attract more landlords, and now we want to take the next step and give you a ready-to-use checklist to make sure you'll win all those valuations. Don't worry, we're not giving away any of your technical skills, we're just providing you with a few handy tips to be awesome when it comes to valuing properties 😎

Before writing this guide, we had a look online to read what others are saying about it and... 🥁 we couldn't find much! I guess you guys aren't keen on sharing your best practices 😉, but we're here to help you be the best you can be, so here's our magic list ✨

List

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What do landlords care about?

As mentioned in our article "tips to win more landlords instructions", it is really important for you to know the most important things for a landlord when choosing for an agency to take care of their properties:

  • Finding quality, reliable renters
  • Minimising the time the property is empty
  • Minimising repairs and cost
  • Rental value that can be achieved
  • Inside info on where to buy their next rental property

If you want to know more about it, make sure to read our previous blog post here!

Our list of DOs and DON'Ts to win the valuations

What should you research? What are the most important things to ask and what's the right approach to use in order to be successful on a property valuation?
Read on and see our checklist of DOs and DONT's when valuing a property... 

Knowledge of the property and the local area

What you should do...

Surely, you know a lot about the local area... but before meeting with a landlord, always make sure you've done your research about it so you're aware of all the latest news. One of the most important things to know is how far the transport links are. Many areas have their nuances, so do you really know that street well? Can you find some other properties that were recently rented there for comparison? Also, get as much information as you can about the building, has it been redecorated recently? Are there any planned works nearby that will create sound pollution? 

What you shouldn't do...

Don't take things for granted! Just because you've recently done another valuation in the same postcode, it doesn't mean that everything has stayed the same! The market is changing all the time. What about seasonality? 

research

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First impressions count 👀

What you should do...

Organise your valuation at a time that suits the landlord, send them a reminder - remember that landlords might  have a super busy schedule - and make sure to be there on time 😉 It might seem quite obvious, but it is very important to give the landlord an idea of how serious and professional you are when it comes to meetings! This will give the landlord an idea of how you will deal with renters, too... If you show that you care about being on time, this will give you extra points to conquer the landlord's heart (and property) 💕

What you shouldn't do...

Don't try to push the landlord to book an appointment that's only convenient for you, and most of all, don't be late!! 

Be polite 🎩

What you should do...

When entering someone else's house, you should realise if there are any rules to follow. For example, if you notice that your host is not wearing their shoes, make sure to take off yours at the door! Showing respect for the property is another very good sign for the landlord to realise that you (and the agency that you represent in that moment) are caring and careful when dealing with their house. For the owner of the property, this means that you won't just let it to the first person that makes an offer for it, but you'll be selective and give good recommendations about how to look after the property!

What you shouldn't do...

Don't "make yourself at home"! As per the first impression, you can't just do whatever you want when visiting the landlord's property. The way you approach the landlord is really important, because it is a sign of how customer-centric your business is... Also, don't forget that the landlord will check out your reputation before contacting you, so make sure to have great customer reviews online!

polite

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The way you approach the local area is important

What you should do...

The most important rule here, is "be positive". The way you approach both the property and the local area, resemble the way you'll present it to the interested renters! Don't forget how important it is for a landlord not to have the flat empty... Also, your approach will ultimately affect the price that your customers are willing to pay for the property 😉

What you shouldn't do...

At the same time, you should avoid being too positive if something is clearly wrong with the property! If you have important questions to ask, or something needs fixing, just let the landlord know! Maybe they're planning to redecorate the flat soon, but you'd better be clear about it before... Not being honest about it, would mean not being able to find renters whose willing to pay the asking price for the rent 😬

positive

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Transparency is crucial

What you should do...

In two words: be honest. You have many years of experience and you can recognise what problems need fixing and what is the fair price at which a property can be let! Talk with the landlords about all the requests that the renters might have in the future, and understand what their preferences are so you can match the right renter to the property! Will they allow pets in the property? Are they ok with changes in the flat? 

What you shouldn't do...

Some agents might be tempted to over-value the property to make sure they'll win it, but trust us... it's not a good idea! Giving a higher valuation might help you at the beginning, but it could disappoint the landlord in the future! Also, it will make you look inexperienced and not very knowledgeable about the local area...

Make sure to stand out!

Why should a landlord choose you? We know that the competition is crazy out there, but for sure you can stand out and help landlords choose you to take care of their properties! Have you seen our landlord feature? Our live list of London agencies is updated everyday to show who's the best among you guys... Work hard to be #1 on the leaderboard! 

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