Are you buying into these 3 mistaken beliefs?
When growing your property management company seems more difficult than it should be, you might be a victim to these common myths that we often come across. We’re talking about three of the biggest mistakes today, so we can make sure you’re not falling victim to these misguided beliefs.
#1 – I’ll Escape Negative Reviews by Avoiding Sites Like Yelp and Google+
This is remotely possible if your property management company is not online, but once you enter into the wonderful world of the Internet, simply avoiding review sites is just not likely.
There are thousands of employees at Google and Yelp whose main job is to scour the internet for local businesses like yours, so they can have the most comprehensive database.
And: say, in a scenario where your company may have been missed. Your tenants, or anyone else for that matter, have complete liberty to creating a company page on your behalf. Leaving your company a review without you ever knowing (never underestimate an unhappy tenant and a $35 application fee).
We understand that in terms of service-based review sites that property management companies draw the short end of the stick when it comes to local businesses. If your owners are happy, that means your tenants are not and if your tenants are happy, chances are your owner is not.
Given this, and the reality that negativity bias compels people to leave negative reviews more frequently than positive ones leaves your company at risk for starting out its online reputation with a 1-star average.
If there are negative people trashing your business that you don’t know about, new owners will see those reviews, and they will choose your competition because of them.
It’s imperative that you stay on top of everything that is said about your company online. The only way to do this is by claiming your business page on Google+ and Yelp.
It is much easier being proactive and asking for positive reviews from the 97% of your clients that are happy as opposed to being reactive, chasing that one person who left you a negative review begging them to take it down. It requires less energy in the long run and is far more of a productive use of your time.
Own these pages and make a decision right now to take ownership of your reputation.
#2 – If I Can’t Close a Lead Today, it Must be a Bad Lead and I’ll Forget About It
This is also untrue. Not closing a lead today means that you have not convinced that owner that your services are needed. It could be they have been self-managing for a long time and they’re not sure they even need a professional property manager. Instead of deciding that prospect isn’t a good lead, you need to stay in touch and earn their business. Imagine how loyal of a customer they will be when they realize how much you have to offer.
Internalize the idea that this person needs your business and that their life will be so much better with you managing their property. The notion that you are annoying a prospective lead by reaching out multiple times has got to go.
Continually reach out until you hear a solid no from that landlord or investor because as you may know, managing property is busy work and they may not be ready to connect at that moment. Know that they need you, and do your due diligence and make sure that they know they can get a lot of value, peace of mind, and more revenue out of your services.
#3 – I Don’t Have the Time Right Now
This third mistaken belief is one we hear a lot – I don’t have time right now. We tie this response with “I don’t have time for my children.”
Hear us out…
We all get very busy, but children are our future. Do you know what else is your future?
It’s the future of your employees and their children. So choosing not to have enough time for growing your business means you are choosing instead to get buried in the day-to-day tasks of your company when you need to elevate yourself and become more strategic.
When you’re growing your property management business, saying that you don’t have time just isn’t good enough. You can always find time, whether in between meetings, phone calls, appointments, etc.
Make time to record those blogs, review your campaigns, experiment and try new things, and sit down with your marketing and sales teams to really move your company forward. Some progress is better than no progress. You have to find the time to grow your business. You won’t regret it, and you’ll grow significantly.
If you have any questions about how to dispel these mistaken beliefs, contact us at Fourandhalf – Internet Marketing for Property Management Companies.
I’m interested in your client development. I believe one of your marketing persons was helping me last year and we lost touch.
I currently manage about 25-30 properties and am looking for ways to grow my business.
How does your company work with property mangers and what is the cost?