[email protected]
Contact Us
Login
  • Home
  • About Us
  • Training Programs
    • Introductory Rent Roll Growth Program
    • Full Start Up Program
    • Marketing School
    • The Content Club
    • Social Media Marketing Program
  • Speaking
  • Shop
  • Blog
  • Testimonials
  • Contact Us
Want to use Social Media to Grow Your Rent Roll? Join The Social Summit for FREE!
JOIN THE SOCIAL SUMMIT
Facebook
YouTube
Instagram

Money back guarantees

October 20, 20161 commentEllen Bathgate

Let’s talk guarantees… Real guarantees…. Proper guarantees… Money Back Guarantees!

I’m not talking about those “if we don’t deliver on our promises, please notify us in writing, and then if we haven’t fixed the problem in 7 days, call our hotline, then notify the department manager, then we’ll send you a letter, then if you’re still really cranky and we can’t talk you out of being cranky, we’ll manage your property for free for 30 days” type of guarantees.  I hate those “jump through hoops” guarantees.  It’s too hard and it’s really not a guarantee.

You know what guarantees I love… The guarantee that K-mart, Target, Big W and all the big department stores offer.  I love that I can buy an outfit at any of these stores, then if I get it home and I’ve changed my mind, I can just return it and get my money back.  Or, if there’s any problem with the functionality of the purchase, I can just return it and get my money back.

So, why not offer a similar guarantee in your business?

Because it’s scary.  Because you might actually have to give someone their money back!

Let me share 6 tips on guarantees, based on my experience of offering them for the last 10 years in business.

  1. Give good service! If you don’t have a decent product or service, you shouldn’t be accepting clients.  Make sure you’re providing good service before you ask for money and before you offer a guarantee.
  2. The scariest part is making the decision to offer and advertise a guarantee. Once you’ve made the decision and started promoting it, it’s not so scary
  3. Make it “money back”. It might be 1, 2, 3+ months of refunded commission, or it might just be a dollar amount (say $200 cash back).  There’s more value it giving cash back than there is in providing free services.  Yes, they’re ultimately the same thing, but there’s a greater perception of value if you give cash back.
  4. Don’t make clients “jump through hoops” to get their money back. Make it something simple like: if we don’t deliver on our promises, we’ll give you 2 months’ commission back!
  5. Promote your guarantee! Tell everyone about it!  Your current clients, your potential clients.  And use it to close new business.  Make the guarantee a way for clients to try your services without any risk.
  6. Use your guarantee as a way of getting rid of problem clients. You’ll probably find that most people will never actually ask for their money back.  However, if you have a difficult landlord, this is a great way to end the relationship with them, give them some money back and send them on their way.  It will be hard for them to speak badly of you if you’ve just given them cash back!

 

Want to know what my guarantee was when I had my Rent Roll?  It was this:

If at any time you’re not happy with our Property Management services, let us know and we’ll refund the last 3 months’ commission PLUS you’re free to transfer to any other managing agent with only 24 hours’ notice.

So, how many times did I have to refund commissions?  Once!  Yes, that’s right, once in 5 years.  And in this case, it was a landlord who had become really difficult and I wanted to terminate our management agreement, so I offered her 3 months’ commission back and an introduction to a different Property Management agency (who I felt would be a better personality fit for this landlord).  It was a perfect way to get rid of a difficult landlord!

So, although it feels like a scary thing to do in business, but it’s so liberating to do.  And you know what?  If you offer decent service, you’ll hardly ever have to honour the guarantee!

For more information about how to design your own money back guarantee in your Rent Roll, contact us today on phone 02 7903 9993

Previous Post Is it really time to hire more staff? Next Post How Should I Complete Property Inspections

1 comment. Leave new

Should you offer a Guarantee on your Property Management Services? - Rent Roll Starter
May 17, 2022 6:31 am

[…] A version of this blog was published a few years ago here.  This version is a little more up to date […]

Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Register for our FREE Masterclass:

5 Ways To Grow Your Rent Roll

Recent Posts

  • The Good (and Bad) of Automation in Property Management
  • What to do if Social Media Engagement is Down
  • Why I didn’t go to AREC
  • Should you offer a Guarantee on your Property Management Services?
  • How to close your Property Management department over Easter

Recent Comments

  • Should you offer a Guarantee on your Property Management Services? - Rent Roll Starter on Money back guarantees
  • Ellen Bathgate on Property Management Resources for Christmas
  • Vickie Monaghan on Property Management Resources for Christmas
  • How to Get Landlords to Read Your Marketing - Rent Roll Starter on 3 Best Tech Tools for Business Owners
  • How to Get Landlords to Read Your Marketing - Rent Roll Starter on The 9 Word Email For Growing A Rent Roll

Archives

  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • January 2022
  • December 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • April 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • September 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • April 2017
  • March 2017
  • February 2017
  • January 2017
  • December 2016
  • November 2016
  • October 2016
  • September 2016
  • August 2016
  • July 2016
  • June 2016

Categories

  • Social Marketing
  • Uncategorized

Find Articles By Topic

build rent roll business Business Coach business mentor business owner Facebook Facebook Ads get more landlords growing rent roll grow rent roll grow your rent roll landlord landlord clients landlord leads mobile mobile agent networking networking events organic rent roll growth outsourcing property investor propertymanagement property management property management coach property management mentor property management software property management tips property management training property manager real estate real estate tips real estate training referral referral marketing rental management rent roll rent roll coach rent roll growth rent roll growth training rent roll mentor rent roll starter rentrollstarter rent roll tips Success Habits time management

FREE Mini Course: The 5 Step Action Plan for Rent Roll Growth

JOIN THE FREE COURSE
RENT ROLL STARTER

Start and grow your rent roll using cheap (and sometimes free) marketing strategies!

FREE RENT ROLL TIPS

Recent Posts

  • The Good (and Bad) of Automation in Property Management
  • What to do if Social Media Engagement is Down
  • Why I didn’t go to AREC
  • Should you offer a Guarantee on your Property Management Services?
  • How to close your Property Management department over Easter
SITEMAP
  • Home
  • About Us
  • Coaching
  • Essentials Program
  • Growth Program
  • Full Start Up Program
  • Facebook Ads Program
  • Speaking
  • Shop
  • Blog
  • Testimonials
CONTACT US
[email protected]com.au

© 2017 Rent Roll. All rights reserved.

  • Refund Policy
  • Privacy Policy
  • Terms And Conditions