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Every property management department has trades people. We freely give them $1000’s each month (depending on the number of properties you manage), as well as a loyal and continued revenue of secure business. In return (if they are good at what they do) they make our life of managing maintenance streamlined and easy.
But have you taken the time to step outside of the box and consider how you can make money from your trades people instead of just paying them money?
Tips on making money from your trades people:
When you speak with them don’t just focus on the obvious of work orders and quotes. Ask them if they have an investment property in your area or if they can refer someone who does.
Develop advertising and marketing concepts where the trades person would be required to pay YOU a monthly or annual fee for promoting their services. In most States of Australia you cannot take secret commissions from trades people, but there is nothing that prevents you from taking advertising money. If you are generating a lot of revenue for the trades person they should be more than willing to give back to you in return. Present it to them so they cannot say no. “We have a marketing opportunity and as our current preferred supplier, we would like to give you the first opportunity to advertise.”
ADVERTISING OPTIONS
Trades people directory
How you choose to display your advertisements in the directory is something for you to discuss as a team. However, be mindful not to include it in your ‘professionally’ printed profile in case you want to change the advertisers. It is best to print the directory on loose sheets of paper that can be inserted to the profile and updated at anytime.
When marketing and promoting this advertising option, let the trades people know that the directory is included in all property management and sales profile/proposal packs, sent to current owners and tenants. If you have 300 properties their details would be going to almost 600 current owners and tenants + all of your prospective clients and customers.
Not to mention that these trades people details would be highly sought after by tenants and property owners. Many tenants and owners do not have regular trades people contact details and would be more likely to use your recommendation.
Display advertising
If your office has a busy high traffic of clients and customers into your front reception area, consider installing a display screen in the waiting area, which could flash the trades peoples advertisements as well as property details. You could also increase the exposure out of office hours by also having a display screen in your window. Your advertising investment collected from the trades people could actually pay for the display system.
Website advertising
If you have a busy high traffic website, also consider setting up an easy to manage system to display the trades people advertisements on your website’s most popular pages.
Promotional Items/Merchandise
You could also include the trades people details on your current promotion items such as annual calendars.
It is important to take the time to develop different packages, which would attract different investment prices. How much you charge is up to you.
These are just a few options to get your team thinking of how you can make money from your trades people.
Wishing you lots of success in making money from your trades people.
posted: 7/26/2010 2:50:38 PM
