You may be asking yourself, is there a right or wrong way to market my property?
The answer is YES!
Honestly, the main difference between right and wrong property marketing is going to be the tools you are or are not using. In this day and age, so many property management companies and/or property owners have a great deal of resources they could utilize. This stretches from posters on an oak tree in a nearby neighborhood to well-boosted Facebook posts that reach thousands upon thousands of consumers.
The amount of tools we have can benefit us business owners and property owners immensely, but it all comes down to how we are using them. And that’s what I want to talk about today. Now, I am not going to sit here and say I am an expert on the topic because I am not one. I often refer to myself as a “marketer-in-training” because I am constantly learning new ways to market and discovering new marketing tools EVERY SINGLE DAY. And let me tell you, these strategies and tools have helped East West Property Management market their properties… the “right” way. The way that result in a less than 2% vacancy rate. The way that sparks the interest of the consumer. The way that is both positive and ethical.
So, let me provide you with some knowledge on how to improve your current property marketing:
- Pictures; Pictures are worth a thousand words. There’s no doubt about that. In this case, it’s going to be QUALITY + QUANTITY. You want to provide consumers with, not only a lot of pictures but high-quality photographs. Meaning, make sure the house is in great shape before snapping the photo. Make sure you’re taking pictures of the most important characteristics of the property (don’t be afraid to try out different angles). This could be a fireplace, washer and dryer, backyard, bathroom, and of course, all the other main rooms. Making it a priority to show pictures of properties with all these different characteristics will be helpful because it’s going to spark interest (See an example of quality pictures here).
- Verbiage; Yes, pictures are worth a thousand words, but imagine if those words created a picture? When you are talking about your property, you have to MARKET it. You have to detail its “wonderfulness”. You have to explain why this property could and should be a person’s new home. To do this, you must use very descriptive and compelling words to, once again, “spark the interest” of the reader. Similarly, you are going to want to give more than the average amount of details of the property itself. This will come in handy! Below you will find two examples or property descriptions. If you were a person looking for a home, which one would you gravitate to more?
- “3-4 bedroom house. Hardwood floors, tile, and new carpet in the bedrooms. Recent updated. Includes 2 bathrooms, kitchen, fresh paint, many updated appliances. Has a large yard. Single car detached garage and plenty of off-street parking.”
- “A very exceptional, spacious, ranch style home that contains 5 bedrooms and 2 bathrooms. Includes a beautiful kitchen with white cabinets and a built-in dishwasher and pours into a formal dining room with sliding glass doors that lead to a new wooden deck. You can find a washer and dryer in a tiled basement near the recreation room where you have space to enjoy time with your future guests.”
- Platform; Who is showing your property? How are you marketing it? These are very important questions to ask yourself, especially in this field. Along with, do you have a website? Are you using someone else’s website? Hopefully, you answered “yes” to both of those questions. There are a ton of different ways to market your property. But you want your property to reach your target market, your customers. Ya know? These are the best mediums to promote your property:
- Firstly: Yourself. If you are a management company, I am sure you already got that taken care of. However, if you are a property owner, get on WordPress or any website creator of your choice now and set up one. This not only shows professionalism but gives you access into cyberspace and we all know, cyberspace gives you reach access to thousands of prospective customers. Which in this case are people who are looking for homes.
- Secondly; Facebook. Yes, Facebook gets its own spot because it has capabilities that not other hosts can afford. Let alone manage. With Facebook, you can create a page or use your own personal account to market your vacant property. However, with a Facebook page (see our Facebook Page for any tips when it comes to marketing a property), you can do this thing called “Boost” a post and it will send off your property post to thousands of viewers at any cost you would like. This is EXTREMELY helpful and affordable! I highly suggest you start right now.
- Thirdly: You can use 3rd party websites like these. This will help in aiding your property marketing as well. We also use all these platforms because, once again, they are tools that can help lower our vacancy rate. Some of these sites will bring in more leads than others, but it really comes down to trial and error.
- Overall: I am not going to lie, most of these tools are simple and cost-efficient. But, we have found that a personal website and a Facebook page will be your best bet because they will be the sites that are used more frequently.
That’s all I’ve got for now. I hope you have enjoyed this blog post and if you have any comments or questions, please feel free to use the comment section below. I would love to engage in conversation, especially on this sort of topic!
Stefanie, Marketing & Operations Coordinator
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