How to pitch landlords on Airbnb WITHOUT paying any rent
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This video covers the exact process for how to pitch landlords so that they’ll want you to manage their property on Airbnb. This is the process we use to get over 80% of property owners we meet with to say “Yes”. No money needed for purchasing, renting, or furnishing any properties whatsoever.
FREE Training to learn the exact strategies and earn a full-time income managing other people’s properties on Airbnb: http://bit.ly/39E6VYe
Download the profitability projection tool: http://bit.ly/2wHSkMS
In this video I’m going to show you how you can pitch landlords and get them to let you manage their properties on Airbnb without needing to pay any money out of pocket for rent or furniture.
The biggest mistake that I see people making when it comes to the idea of “pitching” landlords on Airbnb is that they look at it as a way to “win a negotiation” or to “convince property owners”. In reality, to be successful pitching or selling anything, you need to focus WAY more on what’s in it for them than what’s in it for you.
Most property owners stand to gain a LOT by putting their properties on Airbnb and other short-term rental websites vs. keeping them listed as long-term rentals. The first thing we discuss in this video is exactly why property owners would want to list their properties on Airbnb. We start by going over all of the main advantages and benefits to them. Next, we need to focus on how having someone else (like you) manage the property for them can benefit them.
For this, we look mainly at what their biggest pain points/challenges are and how we can solve them.
I walk you through the main challenges that property owners have when it comes to managing properties themselves on Airbnb and how you can help them to make more money AND save time.
The final step of the process is to bring this all together and create what we call an “irresistible offer” — an offer that’s so good, they won’t want to say “no” to it. In this video I’m going to walk you through a few of the best ways we’ve found to make your offer completely irresistible. These are the exact methods that we’ve used and they tend to result in about 80% of the owners we meet deciding to say “yes” to doing business with us.
The most important thing to remember is that being great at selling anything comes down to delivering value to your customers. If you can add a lot of value, you’ll be successful. By focusing on how you can add value to clients rather than focusing on how you can “close them” you’ll have much more success. This video will walk you through how to do exactly that.
Hey there, my name is James. I'm the author of Airbnb for Dummies. I'm an Airbnb expert. And over the last four years now I've been managing properties on Airbnb and working with properties and managing with property owners in all kinds of different countries all over the world, cities big and small. And so I'm a bit of an expert when it comes to managing properties on Airbnb.
Now in today's video, I'm going to talk to you about one of the most commonly asked questions that I get asked all the time from you who watch my videos and who, you know, check out my stuff is that they want to know, how do I pitch a property owner and get them to let me manage their property without paying any money out from out of my pocket? Not I don't want to pay for rent, I don't want to pay for anything furniture, none of that.
And how do I pitch a property owner and get them to say yes, so in this video, we're going to talk about exactly that. I'm going to break down for you a couple things. So we're going to start with you know, why are property owners actually want to manage their properties on Airbnb? Why do they want to have them on Airbnb in the first place? Why would they want to do that?
We're going to talk about why they would want you to manage their property as opposed to managing themselves or having anyone else manage the property. Why do they want you to manage that property for them? And I'm going to talk to you guys about how you can present this to property owners in such a way that 80% of the property owners you meet with are going to say yes, it's going to be a total no brainer for them to work with you and have you managed their property.
So by the end of this video, you're going to have a really clear idea of exactly what you need to do when you meet with a property owner to make sure they say yes to having you manage their property on Airbnb.
Now, in case you're wondering why you'd even want to do this, you can check out the link below in the description. It's going to link to some other videos that I did that I put together and put on YouTube here that are going to walk you through exactly why you'd want to do this and how you can earn 700 1200 dollars per month managing properties on Airbnb that's for each property. So how you can earn a full time income managing other people's properties on Airbnb link to that video. In The description below.
But if you've already gone through that, or you already understand that part of it, and you want to know how do you actually pitch the person, the property owner, so you get that proper management, then you're in the right place.
So let's go ahead and get started. And the place I want to start off with is really foundational. It's super important is I want to address a big, big mistake that people make is that the question people always ask me is, how do I pitch this proper? How do I convince them to let me manage their property?
And that is fundamentally the worst question, the wrong question for you to be asking yourself at this stage. If you're going into this with a mindset of how do I convince them that's got an undertone of how do I mislead them? How do I you know, I don't care if it's in their best interest. I just want to know how do I convince them to let me do it.
And ultimately, you might be able to have some sleazy sales pitch that's gonna win over coal property owners, but you're never going to keep those properties long term unless you're actually adding real value to them and creating a win win scenario. And so that's where I really Want to start with is? Why would a proper want to put their property on Airbnb? And why would it be beneficial to them that you manage the property?
So rather than coming at this from the standpoint of convincing the proper, we really want to look at it from a standpoint of how do we make this a win win? How do we make this a benefit to them? How do we point that out? So let's start from there. So to start with, why would a property owner want to put their property on Airbnb?
Now some property owners you're gonna meet with will have already done this, they already have their property on Airbnb, it's just a matter of you managing it for them. Other property owners are going to be you know, listing their property for long term rental, and so it's going to need some, some work to show them why they would actually want to put their property on Airbnb.
And there's three reasons for this primarily with most property owners that you'll meet with. The first reason is money. You can make a lot more money in virtually every market around North America, Europe, Australia, these major markets, you can make more money by listing the property on Airbnb.
Be an account long term rental. Now there is some upfront expense to that of getting the property furnished. But the ROI on that investment for the property owner is typically quite huge, right, they can make their money back, you know, twofold threefold over the course of a year.
So it's a pretty good ROI for them. Now, this is true of most markets big and small, whether you're in rural area, whether you're in a big metropolitan area, wherever you are, you can typically make more money. So that's one of the driving factors for most property owners.
I'm going to show you tool later in this video as well. I'm going to link to in the description so that you can actually show a property owner how much more they could be earning on Airbnb as well, just so that in case they really want the data behind that which a lot of property owners will you can actually show them. So number one is money.
Number two is control. A lot of property owners want to have more control than what it allows them when they have a long term tenant in there. Depending on where the property is located. There's gonna be different laws and different regulations around the landlord and tenancy relationship and agreement that they've got there.
And so property owners are limited in what they can do with that property. If they have a 12 month long term tenant in there, you can't just evict them, you can't just kick them out of there, you can't use the property for whatever you want, you can't always do the renovations that you want to do, it can be really costly, all these different factors.
And so having the additional control of not having someone in their long term who signed on to a long term lease can be really nice and beneficial to a lot of property owners. And the third one is visibility, being able to go in there when they please in between gas and check out the property, make sure it's in good condition.
Look at the guest reviews from wherever they might be in the world and see that yes, this property is being well maintained, it's being well taken care of these guests are clearly happy. That's another added bonus to a lot of property owners. So those are the reasons why they'd want to put their proper and Airbnb now why would they want to work with you?
So what problem does it create when they put their property on Airbnb that you'd want them to solve? They wouldn't want you to solve rather and how do we actually go about the pitch? How do we present this to them so they're actually going to want to work with You? Well, typically, there's two problems that property owners have with listing the property themselves on Airbnb.
So this is where you're going to be at once you've convinced your property, they want to be on Airbnb and you show them that that is actually the best course of action for them. Or if you're meeting with someone who already has figured that out, and they're already listened to property themselves on Airbnb, they're going to hit a roadblock, right?
They're going to realize that to do that, they don't know how to maximize returns, number one. And number two, they don't have the time to be able to put into doing all this themselves, you know, messaging, the gas, managing the cleaners, all that sort of thing. And so the first step is going to be you know, let's take care of that time side of thing.
Let's talk about that first. So it's quite easy to be able to show them that, hey, I can do all this the solution for it's pretty simple. I'll do it all for you. I'll take care of it. And then I'll do a really good job of it. And so you have to have the right strategy, the right approach to be able to do that pro tip, rather than telling them that you're going to do a great job. Just show them.
One of the things that we do all the time. With our property owners is we do what's called a three month trial period. So when I'm meeting with a property owner, and I'm explaining to them that, okay, I'll take care of the gas communication, I'll take care of the cleaning, I'll take care of all this, and I'll do a really great job.
But look, you don't have to trust me that I'll do a really great job of this and just go on blind faith and sign some long agreement, let's do a three month trial period. If within those first three months of me managing the property, you're not happy with the work that I'm doing for any reason at all, just let me know, I'll hand the property back to you.
I'll charge you the management fee up until the time that I stopped managing it. And beyond that, it's back to you. If I've got extra bookings in the calendar beyond that, then you know, you're canceling within that trial period, no stress, you just keep those bookings. I'm confident I'm going to do a really great job.
And I'd rather just show you then try to convince you and shove something down your throat. Now saying that does two things. It's really amazing what this can do. If you give that trial period, it D risks it for them, which we're gonna talk about a little bit later about why this is it leads into why property owners 80% at a time, we're going to say yes, it's going to be a no brainer.
And it shows that you're really confident it shows that you actually know what you're talking about, know that you're committed to doing a great job, because otherwise you wouldn't be saying otherwise, you'd want to sign them into some long term agreement, where they've got to, you know, sign on with you for a year or longer. But by having the competence to say, hey, look, I'm going to do a great job.
Let me just show you out and tell you, it instills a lot of confidence in the property owner. Now the next thing you want to talk about with them is the money. You want to show them how you can help them to earn more money. Now, obviously, if the property owner has their property on long term, it is a lot easier to do, right?
Because the numbers are just going to make sense. But with a property who already has their property listed on short term rental, you have to be realistic and you have to show them exactly how much more they can earn. And in some cases, they're very rare. Maybe one to 5% of people that we meet with, they're actually already optimizing their property.
Like I said, this is pretty rare. Very few property owners are actually optimizing their performance their property on their own, and sometimes you might find out that they're you actually can't improve the performance of their property. Like I said, though, 95% of the time that you meet with a property that is far from the case.
And so I'm gonna link below to a tool called the property projection tool that I put together, you can download that you can use that and you can use it to get data from your area, wherever you want to manage properties, because you can do this remotely, wherever you want to manage properties, you can get the data for that area and use this profitably projection tool to show a property owner exactly how much their property could and should be earning, on average over a 12 month period.
It'll show them all the seasonal fluctuations, all the highs and lows, it'll break it down for them, and it'll actually net out your management fee to show them exactly how much they'll earn net in their pocket at the end of the day.
Now, really simple. You can do this. It's data driven. So it's not just your guesswork or your empty promises that they have to rely on. This is based on data. So I'm going to show you I'll also link in the description to In the same link where I've got that, you'll be able to download instructions on how to set it up and how to get that data.
So it'll be all taken care of. And you can show them based on data, how much money they could be earning. And they'll know how much money they're earning right now. So that gap is how much additional income you can be putting in their pocket. That's pretty strong, you can show them that they can be earning more money, and that you can do that.
And like I said, you're giving them this three month trial period, to be able to just test that and see that you can actually do what you're saying you're going to do is that comes to our last point that we want to talk was how do we actually present this in a way that we can get 80% or more a property owners that we meet with to actually say yes, and want us to manage the property right then and there. I'm not talking about waiting months for them to say, Yes, I want them to get a yes, I want to get Yes, right away.
And so the way that we do this is by creating what's called an irresistible offer. We want to make an offer that's so good. It doesn't even make any sense for them to say no, it would be a logical thing to say now. In order to do this, it has to actually make sense. That's why I'm not talking about having 100% of property. So yes, that's because some property owners, it actually won't be in their best interest. And with those property owners, you don't even want to offer to work with them.
If you know that it's not gonna be in their best interest, let's say you meet with this property owner, again, very, very rare. But you meet with a property owner who absolutely loves hosting, they love every minute that they put into it, and they're already optimizing their returns. Well, naturally, by taking the word responsibilities off their plate, it's not gonna actually add any value to them, it doesn't make sense because they really love it, they really enjoy it.
And if you can improve their performance, and there's really no reason for them to say yes to you, but for the rest of the world, you know, the at the 90% of people that we meet with who we are going to be able to add real value to, it's just a matter of making it an irresistible offer by number one, making the risk very, very, very low, and making the return quite high and quite clear and quite sure fire so to speak. And so the way that we do this is by Presenting the offer, like I talked about with a trial period number one, so it D risks it.
The worst case scenario for the property owner is that they get their property managed by us for a couple of weeks or a couple of months, and they end up not being happy with it, we hand it back over to them really no skin off their back, maybe they've lost a 20% management fee for charging and 20% management fee for a couple months. But in exchange for that they didn't have to do any of the work. And they're getting the property back. And it's all and they probably have some more bookings in there.
Anyway, from the time that we've managed it. So it's really net zero, it doesn't end up being much risk at all, for the property owner. The worst case scenario is really quite little. And the best case scenario is that we do a phenomenal job, they've got all taken off their plate, and they're earning more money, total Win Win, right? So de risking it, and then making the return opportunity really high for them. So you want to take away the risk and increase the reward.
And it's not about blowing the reward up so I highly recommend that you stay conservative. I actually write And staying not realistic, but conservative in our estimates of what we can bring in on a property if you're presenting it to them, and you're using this properly projection tool, but really having the confidence to know your numbers and to have data driving, it means that it's not, you know, a gamble for them.
It's not okay, well, now I have a one in 10 chance or a 5050 chance of making a great return, they have a really good, you know, 8090 100% chance in some cases of making this a better return because we know we can improve their performance. And we know we can hit these bare minimums. So we keep that conservative, we're going to oftentimes still be able to show them using that profit projection tool that we can help them to earn more money.
But we can do it with such confidence that we know our numbers are going to come true, we know that that's going to be caused. And that's going to be the result because number one, it's based on data. It's not based on guesswork, and number two, it's being conservative. And so by doing that, now, suddenly, it's a very low risk, high reward scenario for a property owner and that's what makes an irresistible offer. That's it.
A total no brainer. And if you have the right system, the right structure to that meeting to be able to show them all that really effectively and actually implement on that at a high level, suddenly you're going to have clients, they're going to stay with you for a long time. And you're going to be having clients coming to you.
And this is the situation a lot of myself and a lot of my clients end up in is that we actually the limit to our growth isn't the number of people that are saying yes, to us. It's the bandwidth which which with which we can take those properties on. So my client Ray was just talking to you a little while ago, you mentioned Hey, we're already onboarding 10 properties for the new year, it was back in January that I talked to them.
They're already bringing on 510 new properties every time I talk with them and a limit to their growth. These not doing any outreach. He's not, you know, setting up these appointments with property owners and going out of his way to do it. He's getting traffic through referrals now because he's doing a great job for the property owners he does work with, and the limit to his growth is just how quickly he can actually get the property set up and listed on Airbnb.
So I hope this has been really helpful. If you want to learn more about this Step by step of everything really all the ins and outs of this business how to earn a full time income managing properties on Airbnb and learn you know, get get access to my script, get access to everything that I talked about with property owners exact step by steps, everything I've linked below to a free training in the description that walks you through absolutely everything the training is insane I'm giving away completely free for you guys. Trust me when I say this is an insane training, it is amazing, it walks you everything step by step.
So if you really want to get some more structure to this and you want to learn more of the other aspects of the business, then check out the free training that I've linked below in this video for more. Again, I've also linked to a couple other resources that are gonna be really helpful for you. And just getting started in the description below. So check those out as well.
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