How to get Airbnb Management Clients (Client Conversion)
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This is the one that everyone is waiting for and what everyone asks about. This is the step-by-step on how to get clients for your Airbnb management business.
How do you get clients? How do you go from a property owner being a stranger to having their property under management?
Of course, I am assuming that you have watched the two previous videos and have some foundational elements already in place, like figuring out your niche and determining what problems your niche needs you to solve.
The first step is to structure those answers into a compelling offer. You need to explain WHAT you do and HOW you do it.
Give some thought into how you are going to present that. Looking at property management, you’re going to explain what you’re going to accomplish, whether that’s getting your client better returns, more bookings or a higher rate. You can talk about how you will do that to establish credibility, but only dive into the “how” as much as necessary. Some owners will care more about that; some less.
You need to recognize that different owners are going to have different priorities. An owner with a vacation property will want to know how to balance it so they use property too. An investor won’t care about that.
Focus on what the end result will be. Be clear in exactly what their involvement will be so they can actually picture working with you.
The second step is to gain credibility and confidence from your client. The property owners you will be speaking to are high level buyers and will be able to see through you if you are trying to “fake it until you make it”.
A great way to instill confidence and establish credibility is with the profitability projection tool that we have developed (link above). You can show a property owner what they will earn in a 12 month period using market data that shows information specific to that type of home, the area, seasonal fluctuations, etc.
Once you have shown the value you add and that you have the ability to properly manage their property, you next need a proper process to close and objection-handle effectively.
I tell my students, the majority of owners who say “yes” start out saying “no” or “maybe”. People have concerns and questions. You might think of objection-handling in the same vein as using sleazy tactics.
That is not the case. Any sales process, you can expect that owners will have questions and concerns about working together. It is how you see them. If someone says, “I don’t trust you”, that is very similar to them saying “Yes, I would work with you, once I trust you more.”
The key to making any sale is to pinpoint the concern, address it effectively and then move on. To be able to do that you need the right listening and sales skills. You also need to have the right framework to walk through this with a client and move them forward.
The reality is that if you are at this stage where you are ready to bring on clients, you have a solution to their problem. Your client would not be meeting you if they were not looking for a solution. Make sure the client is clear on the value you give, because you can already see that. It’s just about better communicating your value, because the client may not understand that the first time around.
Finally, you need a client agreement to enter into so that the expectations of the relationship are clearly communicated. It will outline what the relationship will look like, the responsibilities on both sides, the term, fees and things like that.
The biggest mistake that small business owners make is to think that you don’t need a contract. If you do not have that in place upfront, you can have issues and tension, miscommunications and headaches between you and the owners down the road.
Then, once you’ve walked through the process, it’s a matter of following through on doing what you said you would do. Having a client agreement allows you to exceed their expectations because you know what they are.
What's up everyone, its James here again. And in today's video, this is the one that everyone is typically asking you those two I know a lot of people are waiting for I was one that people are excited about.
This is where we're gonna talk about the step by step of exactly how to actually get clients for your property management business. Now, again, if you want to learn more about this, if you want to learn exactly how to get clients, how to grow your business, all the different strategies that we use, I recommend two things.
First, to start off with number one, I recommend checking out the link in the description below. We're going to go through a free training that goes in depth on all this shows you exactly how to grow your business effectively all the different ingredients you're gonna need.
The other thing I recommend is to check out the other couple of videos that I posted here as well that are going to cover the first two key components before client attraction which are number one is finding out your niche establishing your niche and starting to craft your offer and your messaging.
And number two is laying out the framework for your business sort of building the family foundations billing that flywheel that we talked about in that other video. If you haven't checked those out yet, I highly recommend checking those videos out first.
Now, if you are the type person who has experience with sales who thinks that you know how to get clients under management, and you don't, you can't even take a couple minutes to really just buckle in and pay attention this video, then there's no way you're going to grow your business,
I highly recommend just sitting here distraction free and checking this video out because I guarantee that you're going to be able to learn some interesting things from watching through this video in its entirety. So stick around with us here till the end. Let's just dive right into it. Let's not let's not delay any further.
So we're going to talk about getting clients under management. How do you do that? How do you actually bring a property owner from a total stranger to a property owner under management with their listing sign, you're earning money every single month from managing their listing. So there's a couple of things that you need.
Obviously, you need those foundational pieces of having that niche. So I'm assuming that you've already watched that video that Where I talked about, you know, figuring out your niche exactly what they want, what they need, and then how you can solve those problems for them.
Now you need a way to structure that into a compelling offer. So number one, it's got to communicate clearly exactly what problems you're solving not just what you do. That's where I find that a lot of people get kind of tied up and they go in the wrong direction. People like to talk about the features rather than the benefits.
You may have heard people talk about this before. in entrepreneurship, you may be a little bit confused by it, I know that I was for a really long time. All that means feature versus benefit, all that's referring to is there's what you do for your clients like what outcome you generate for them what result you get them. And there's how you do that.
If you focus too heavily on how you do it, then you can really miss communicate like the client can leave without actually understanding what it is that you do. So let's make it really, really clear. Let's get a real life example with property management. There's getting your client better return
All right, your clients gonna want to know, for example, that you can help them to get better returns on Airbnb, booking.com vRv, or whatever platforms you're listed on, you can help them get more money for their property, Get More Bookings get higher nightly rates, right.
And they're likely going to want a little bit about how you do that to establish some credibility, understand what you're doing, like what the actual ingredients are. But you need to make sure that you first communicate, this is what I'm going to do.
And then you follow it up with this is how I'm going to do it and only really dive into the How to, to the extent that it's necessary, some property owners are going to care a lot more about that some properties are going to care less, a lot less about that. And then some property owners are not even going to care at all about what it is and how you do it.
And that's because they're not a fit for you. And so again, you need to find the property owners that are the right fit that actually have the problems that you're solving. So that then when you present to them, Hey, I help properties to get better returns.
Or for example, I help property owners to better screen their guests to make sure they're getting the right type of guests there. I help property owners to schedule their time and their own vacation property, because hey, this is a second home for you.
And I understand that I realized that you want to take a couple weeks in the wintertime in the summertime and get down to this property that you work so hard for, I've got a solution for exactly how you can do that. And do it really easily, seamlessly not have to stress and worry about it now.
But if you talk to a real estate investor, and you present them with that, they don't care. They don't want to go and use that property, but a vacation homeowner they do, right? And so you want to focus on that you want to have a really carefully crafted presentation that goes through exactly what problems you're addressing, and what the solutions are that you provide what the end result is going to look like for the property owner. Is it a 10% increase in returns 15? What's that going to look like throughout the year? Are there going to be seasonal fluctuations. You also really want to be able to be clear, and showing them exactly what kind of involvement they're gonna have with the property. Are you to hear from me once a week, once a month. Never at all, you know really crafting that getting that clear. So they can actually picture themselves having this property manager working with you, they can envision it. And it's all really clearly laid out for them. That's step one of the client conversion process. I know that might seem like a lot, there is a lot to that. But the reality is, it's a science. And once you get this down, and you can communicate your value really clearly, then you've already accomplished a huge part of client conversion process. The next part is going to be to gain credibility and grant gain confidence. And the main way that we want to do this is just by showing, we don't want to talk a big game. I found that especially when we're dealing with property owners, they're high level buyer. They're a relatively educated person. They're quite smart, they're going to see through crap if you're just spewing a bunch of crap at them, and you're trying to fake it till you make it like some of these other gurus will tell you to do. You're gonna have a really, really challenging time with that because property owners are typically pretty smart people and I think that most people you're going to be dealing with are going to see through it if you're faking it until You make it, you want to have a way to really show people that you actually know what you're talking about really show people your expertise. And so one of the, one of the really cool tools that we built for this is called our profit projection tool. This is a tool that we use to basically analyze the performance of different properties in any different market around the world, to be able to then show a property owner exactly how much their property is going to earn, on average over a 12 month period. Now, obviously, this is an approximation, but it's based on data from different properties that are very similar to that one that you're specifically presenting to in that area. We're using data from the market that we get from a data source, we're putting it into this tool, and then we're able to show the property owner how their property is going to perform. We can show them the seasonal fluctuations throughout the year, all the ins and outs of it. It's a really, really cool tool. I'm gonna leave a link to it in the description down below as well. So you can check that out for yourself and have your hands on that. And that's a really, really great way to show a property owner. Hey, I actually know what I'm talking about. I understand the market. Here's where here's for you to gain some more confidence to gain some more certainty, some more clarity on how things are going to look, if we're working together, you can actually walk them through that step by step. And then from there, once you've set that meeting up effectively, you've then gone and you've showed them what you what value you can add what problems you can solve how you can do it, you've gained their confidence, you've showed them that you actually know that you're dependable, and that you actually you know, have everything have the walk, so to speak, to back up the talk, then it's just a matter of having a proper process to be able to then close them and objection, handle them effectively, you know, have all the strategies to answer any questions they might have, address any concerns they might have. I was looking to tell people inside of our training, and again, link to that in the description below if you want to get the real detailed walkthrough of all this. But the majority of all the yeses that you're ever going to get are going to start out as nose or start out as maybes. The reality is people are going to have questions, they're going to have concerns and these are often to refer to in sales as objections and objection handling. And a lot of people are kind of scared by this. They're kind of intimidated by they're scared off of it, they get this idea in their head of like the sleazy car salesman having to be a pushy salesperson use all these sleazy tactics. And in reality that couldn't be further from the truth. Yes, there are some sleazy salespeople out there who use these tactics. And they absolutely you know, given the the the whole concept, the whole practice, the whole art of sales are really terrible name, the same way that doctors who commit malpractice have given doctors a bad name in some instances. But that doesn't mean that sales overall is a bad thing or an icky thing. And the reality is that objection handling is a pretty normal and expected expected thing for someone to go through, you know, you're going to present to them you're going to show them how you can solve their problems. And they're going to have different objections, different questions, different concerns about working together, understandably. And in reality, someone's saying, No, I don't want to work with you because I don't trust you and some common object action that people will get in any area of sales is that's very, very similar, if not, in most cases, the exact same as a client saying, Yes, I do want to work with you, once I trust you more. And so by just reframing how we're looking at objections, really now we just want to go and actually ask the client the client questions, understand why it is that they don't trust us figure out exactly where the lack of trust is coming from. address that and move on. You know, if they're unclear about something, for example, they're unclear about how often they're going to get to use the property. They're unclear about the numbers behind things. They're unclear about how the properties unit cleaned and turnover, then a lot of time they're going to just say, No, they're not going to want to manage the property. But if you just address that, and you're able to effectively pinpoint exactly what their concern is exactly what their challenge is, and then address that effectively, then you can turn a lot of those nose and those maybes into yeses really effectively. Now you need to have a couple things. For that you need to have a good framework For how to do that, effectively, you have to have the right listening skills, you have to have the right sales skills, just the right skill set overall. And then you also need to have the right framework set up to make it really easy to walk through that with a client, figure out exactly what their, what their concerns are, what their questions are, what their challenges might be, and then actually just move them forward into becoming a yes. And the reality of all something I like to remind people behind all of this is that if you're at this stage, where you're actually bringing on clients under management, the reality is the truth of the matter is that you have a solution to their problems, they would not be meeting with you in the first place, if they didn't have problems that they wanted to find solutions to. And you have a solution to the problem. If you're sitting there and you're offering to work with them. It means that either one, you're unethical or two, you have a solution to their problem, because the only way that you would offer to work with someone without having an actual effective solution and problem without seeing that there is a win win here and working together is is you're being an unethical salesman. And you're being one of those sleazy salespeople that's just trying to get someone to buy, regardless of whether or not it's a good fit. And so all this process is, is just making sure that the client is clear on the value that you can give, and that you can solve their problem effectively, because you can already see that and so as long as you can see that, it's really just about better communicating it because sometimes the client isn't going to fully understand that the first time around, they're gonna have questions about it. They're not as they're not as as as well versed in your business and the way that you operate as you are understandably. And the last thing that you need is you need a client agreement, that's pretty obvious one at face value, need an agreement so that you can enter into that with the property owner and make sure that all the expectations for the relationship moving forward are really clearly communicated. Yeah, if you want to get access to that if you want to learn the step by step of how to go through without agreeing with a client, all that stuff. Again, just check out the link in the description below. We cover that in a lot more detail. But essentially, this client agreement is going to outline what your Relationships going to look like what the different responsibilities from both parties are going to be how the relationship is going to work out what the term of the relationship is going to be, what kind of fees are associated with it, all that sort of stuff. The number one biggest mistake that I see property on property managers, and really just any small business person making is that they just trust that things are going to go Okay, and they don't need any kind of an actual contract or an actual agreement with their clients. This is a huge mistake, and you talk to anyone who's been operating their own business for long enough, they will tell you that it is a massive mistake, probably the biggest one that you can make as you're starting out in your business. And the challenges that, you know, getting a legal agreement can be very expensive to do. And so again, if you want to get access to our template for that, if you want to get access to everything, just check out the link in the description below. But you need to have that in place. Because otherwise you can have different issues come up that weren't clearly communicated upfront what the process is for how we deal with this and that creates tension between you and In the proper interview and your clients that creates ambiguity, there's miscommunication that can lead to mistrust, it's going to cause a whole bunch of headaches down the road. And I can guarantee you, it's going to cost you a whole lot of money down the road, when your client just leaves you stops working with you, because things weren't clearly communicated. And then there's nothing actually binding any kind of an agreement together, it just creates a whole bunch of headache really unnecessarily. So that's the last step of client conversion as the last piece that you need. And once you've got that, then it's just about actually going through and following through on that. It gives you a really clear guideline for exactly what you need to do to make sure that your client is getting everything that they expect and more. So again, then it just allows you to exceed their expectations because you've know up front exactly what their expectations are, and they're clear on that as well. So again, if you want to learn more about all this, I know I've just kind of covered the surface of it. If you really want to get into detail. You want to get all the tools for how to use how to convert clients, you want to get the templates, you want to get the step by step walkthrough. How do we go Above that client meeting, how do we structure a what we call a conversion value deck so we can clearly communicate all of our value to the customer. And that was few objections as possible. What are the common objections that property owners have? And how do we handle those effectively so we can close 50 to 80% of the clients we meet with and have them be thrilled to be working with us. If you want to learn more about all of that, then just click the link in the description below. You can check out the free training find out exactly how we do that. Learn more about all that, check that out, I guarantee it's gonna be worth your time. So if you haven't already, check it out and click the link in the description below and check that out. Until next time, I will see you next video.