Letting agents… How you can “Treble your turnover…” Part 3/3
In case you missed the last two articles, this is the third in a series covering how as letting agents you can treble your turnover, without increasing your fees (unless you want to of course!)
In the previous pieces I covered how to massively increase the number of prospects and new leads into your business (Not read it yet? Check it out HERE), and then in article 2 I covered how to seriously increase your pounds per deal by layering additional levels of service, both higher levels and lower levels which you can read HERE.
In this article I want to cover the third strategy for trebling your turnover and you may may well say that I have left the best until last…
With this strategy you could literally treble your businesses turnover overnight, in one go with one transaction… What am I talking about?
Acquiring other agents stock…
Letting agency is hard. It can be lonely and at times a horrible place to be, especially if you are working alone, with little support. Everything coming from all directions, increased compliance and therefore complexity, short of initial capital and the wolves are banging at the door. So many agents out there are just desperate to get out, but have no idea how…
So what I am talking about here is buying other agents.
Finding them can be quite easy when you know the signs, start looking out for tired agents, poor reviews, struggling staff, you’ve seen them I’m sure! Then just start talking, would they be interested in getting out, selling up? If you don’t ask you will never know.
Eventually someone will say yes and then you need to structure a deal. In many cases deals can be done where no money upfront is required, and the stock can be bought using the income it generates, we even had one agent literally dump the files in one of our offices and run!
You do the maths, imagine you had double or treble the amount of properties under management that you have now, what would your additional expenses be?
Not a lot, so it’s pretty much clear profit too!
Of course you will need to ensure you can sort out any issues the portfolio may have, make sure there are signed contracts in place and work to get everything sorted and all transferred ok, but from there it’s plain sailing. Instant double or treble or even quadrupled your turnover in an instant…
That’s gotta be better than slogging away for the next 10 years, surely?
How’s that for a strategy?
Well there you have it, 3 ways you really can treble your turnover, firstly by generating more leads, secondly by increasing your pounds per deal and thirdly by acquiring other agents stock.
Just imagine if you did all 3, the possibilities and potential could show you some pretty amazing exponential growth.
On our Property Agents 4 Day Bootcamp we cover in detail how to create downloadable content, how to add upper and lower layers of services and increase your pounds per deal (we especially focus on this!) plus full on section on how to acquire other agents stock without using any of your own money…
To find out more head to www.propertyagentscircle.co.uk/bootcamp