Blog / Prospecting

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Stefon Bertram and Michael Dowling from Starr Partners in Ryde, NSW, developed a “no walls” prospecting method for the property management side of the business. The sales and property management teams share the same database, hence the “no walls” tag. Landlords are kept updated in the same way other sales prospects are, and sales prospects are offered property management advice.

Anyone who owns a property, whether they live in it or lease it out, receives a CMA (comparative market analysis) report based on that property. In addition, the agency is seeing a sales spin off from property manager visits each Wednesday afternoon.

“Our property manager goes out between 12pm and 4pm and sees a list of about 30-40 people who have been flagged as investors or as first-home buyers who are buying property to rent out. He sees if there is anything that has caught their eye and if it has, he will offer a CMA on that property. If they want any more details, he offers a call back from a sales agent to give them a second opinion, even if they’re not buying through our office,” Mr Bertram explained.

This strategy continues if the prospect wants an appraisal for renting the property out. “Most of the time the rental agency is slow to come back to them, so by staying in touch with these people weekly, when they actually exchange on that property there is no question about who they want to give that property to, because [our property manager] has built a relationship with them over the past 4-6 weeks,” he added.

While this prospecting only started in January 2012, Starr Partners Ryde is averaging 7.5 listings a month from just one strategy. “We don’t have a property management meeting; our property manager sits in on the sales meeting. We all have the same mentality, not a sales mentality and a property management mentality,” Mr Bertram said.

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