APT Business Services

When is the right time to look for new clients? – Strata edition

The goals of many strata firms are to grow their firm, retain current clients and gain new ones. However, it can be difficult to gain new clients in the strata industry due to its competitive nature and the timing of the agreements.

Below we have shared some tips that will help your strata firm gain new clients and remain competitive in the industry.

Create a CRM/ follow up plan

It can be difficult to know when to target certain buildings if you are unaware of their contract end date. By having all of your business development and buildings to target all in one place, it will allow your community managers to keep track and receive reminders of the buildings they are pursuing.

Know when to contact your clients

If you contact the building you are trying to target the day before the contract with the current manager expires, your chances of gaining new business aren’t looking too promising! An effective time frame would be to contact the committee 3 months prior to the end of their current agreement. This gives you time to build trust with the client and tailor a proposal specific to the scheme.

Create a target list of buildings

Many strata firms have different specialties. Some are experts in large schemes, some excel in the small scheme and townhouse complexes, while some firms are all-rounders and are constantly looking for a variety of buildings to manage. Look at where your strengths lie and create a target list of buildings that fit within the strengths of your firm. 

Ask for referrals

It can be difficult to pinpoint the right time to ask for referrals. A good place to start is at the end of a positive meeting with your committee. You’d be surprised who may need assistance on another scheme they own. Even if you don’t get the building now, you may get it in the future.

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