Great Marketing Tips For Property Managers

marketing tips property managers

RentTrack recently reached out to me for an article on marketing tips for property managers.

Here are a couple of great ideas that property managers can use for marketing any type of property.

Know Your Target Market

One of the most important tips for property managers and leasing agents is to know your target market.

And it isn’t just people who want to rent a place to live.

Some properties are better suited for singles or working professionals.  Others for couples just starting out, and some rentals are great for families.

You don’t want to accidentally discriminate in your marketing copy.  But do spend some time thinking about what type of renter is going to be attracted to your rental house or condo.

Make A Simple Website

Having an online presence is pretty much a given in today’s competitive real estate market.

But it’s important not to give too much information to people who want to rent your property.  Instead, focus on gathering info on the tenant and capturing leads.

Make it easy for the prospective tenant to learn more about the rental property by having a short description, map and pictures.

Be sure to provide a rental application for easy download, along with instructions on how to submit it, and what your employment and tenant income qualifications are.

More Marketing Tips For Property Managers

Here are four more great marketing tips for property managers include:

  • Reach out to as many prospective renters as quickly as possible in as many ways as possible
  • Don’t negotiate on the rental amount, deposit, or your tenant application requirements
  • Make it easy for prospective tenants to get in touch with you
  • Include links to your profile on social media sites such as LinkedIn and Facebook

Experienced real estate investors, leasing agents & property managers know that it’s always better to find and keep great tenants than having to go through a costly and time-consuming eviction if the tenant decides not to pay its rent!

The Most Important Part Of A Property Management Business Plan

property management business plan

The people over as Hostfully were nice enough to include my thoughts about the most important part of a property management business plan.

As you’ll see from their article, there’s a lot that goes into creating a good property management business plan.

But time after time I’ve seen new property managers overlook this key point when putting together their business plan.

Key Factor In A Property Management Business Plan

Here’s what I told Hostfully:

Jeff Rohde, author at JScottDigital.com says one of the most important things when developing your property management business plan is the focus on a “specific real estate asset class, and then ‘drill down’ to a specific sub-class.”

A residential example would be to decide if you’re doing for a single or multi-family homes. After that, narrow it down by price range, geographic area, and a number of units. A commercial example would be deciding on multi-tenant retail or office type of property. “After you chose that, focusing on the class of property (A, B or C), and the property size in terms of square footage.”

This is how you’d develop your niche, because, as Rohde puts it, “tenant personalities and issues, wants and needs, will be similar. Owner personalities and investment goals will be similar. And the skill set that the property manager develops will easily transfer to similar properties to manage.”

Getting Started In Real Estate Property Management

If you’re a new real estate agent or thinking about getting into real estate property management, consider going to work first for a firm that is already in the business.

It’s a good way to learn the ropes, so to speak, and to find out if property management is really what you want to do.

If it is, you’ll be able to hit the ground running.  Just remember, there are a lot of ways to make money in real estate property management!

Sample Real Estate Profile For LinkedIn

real estate profile for linkedin

Here’s an example of a real estate profile for LinkedIn . . . or for any other social media platform that you’re using to building your online real estate presence.

It can be used whether you work in residential or commercial real estate.  This sample real estate profile for LinkedIn is also good for both companies and individual real estate agents as a lead-in for your professional bio.

Real Estate Profile For LinkedIn

[Your company name] is a full-service brokerage serving the Greater [Your city] area.

Our brokers specialize in all asset classes of real estate including: single family, multifamily, mixed-use, retail, office, industrial, special use, property valuations, property management, fix-n-flips, JV equity sourcing, and note sales.

[Company] works with real estate investors of all sizes – from experienced private investors to beginning real estate investors.

We know from our years of experience in the business and successfully closing hundreds of transactions that maximizing the return on your real estate investment in [City or Market]’s competitive real estate market takes more than just one person.

That’s why [Company] utilizes a unique, integrated team approach when buying or selling real estate on behalf of our clients.

While other real estate brokerages in [City or Market] limit the opportunities that their clients see, [Company] thinks outside of the box. We understand the power of team work and cross-marketing.

Our proprietary global network of over 150,000 active investors allows us to reach as many qualified buyers and sellers as possible, as quickly as possible.

[Company] combines today’s high-technology with an old school, hands-on approach.

We’ve built our solid reputation in the [City or Market] real estate market the old fashioned way . . . one client at a time.

[Broker-specific copy goes here]

Five Tips For New Real Estate Agents

tips for new real estate agents

Whether you work in residential or commercial real estate, it an be tough getting started in the business.  Here are five great tips for new real estate agents just starting out.

Proven Tips For New Real Estate Agents

One of the most important tips for new real estate agents is to start part-time.

That doesn’t mean putting less effort into your new real estate career.  What it does mean is to make sure you have enough income coming in while you’re ramping up your new business.

The last thing you want to do is to run out of money just before the big dollar real estate sales commissions start flowing in.

Focus On One Area

The second most important tip for new real estate agents is to focus on a single area to work in.

This could mean a specific neighborhood, zip code, or even a single building in your city.  It just depends on what real estate market you are working in.

Focus On One Product Type

In real estate there are different product types or asset classes.  Single family, multi family, free standing commercial, and multi tenant retail buildings are a few examples.

The third most important tip for a new real estate agent just starting out is to focus on a single type of real estate.  Then, become an expert in that asset class for your chosen marketing area.

Do What Fits Your Personality

Most brand new agents fresh out of real estate school begin by selling resale homes.  But that’s not always the smartest choice.

Understandably new real estate agents make this choice because there is more inventory in the resale market than in any other segment.

But selling homes may not be the best fit for your personality.  Other areas of real estate include new home construction, land, commercial, and property management.

Real Estate Is A Business

Just as investing in real estate is a business, so is deciding to work as a real estate agent.

It’s important to have a business plan, and to track all of your income and expenses.  Successful real estate agents also know that it is critical to always underestimate the cash coming in, and to always have money in the bank.

After that, marketing your new real estate business is a key factor to success.

Social media sites such as LinkedIn, and writing and publishing real estate books are two of the many ways new agents can market themselves in the competitive real estate industry.

 

How To Get The Most From Your Freelance Real Estate Copywriter

freelance real estate copywriter

If you’re hiring a professional freelance real estate copywriter for your project you want to be sure you’re getting the most for your money.  Be it a small ad on Facebook or a real estate profile for LinkedIn, a blog article for your real estate website, or an entire content creation project.

Here are three things that you can do to ensure you get the five-star product you’re looking for.

Know Your Freelance Real Estate Copywriter

A lot of the real estate copywriting that I do is through the Upwork platform (click for my profile there) where I am a top rated freelancer.  But that doesn’t mean what I write is going to be a match for every client.

Some clients may want a different writing style.  Others may find my rates out of their budget.  Or I simply may have too much on my plate to complete their project in the time frame that they’re looking for.

Upwork makes it easy to see the past types of project a freelance real estate copywriter has worked on and their client satisfaction rating as well.

Know Your Real Estate Topic

Oftentimes clients who hire a real estate writer have only the vaguest idea of what their real estate topic is going to be.  Usually this happens with real estate people who are launching a new website.  Other times they are entering a new market – for example, a Middle Eastern client wanting to introduce its readers to the U.S. real estate market, or vice versa.

Sometimes a client not having a specific idea of a topic can be good, provided you have a good writer who can work from the basic guidelines that you give him or her.

Other times not having an idea of your topic can create problems, especially when clients – either accidentally or on purpose – ask for multiple revisions from their freelance real estate copywriter as a way of figuring out what they really want their real estate article to be about.

Know Your Target Audience

In order for your real estate writer to create the most effective copy possible, they need to know who they are writing too and also how to ‘get inside the head’ of your target audience.  The more you know about the characteristics of your potential buyers- or tenants if you are a landlord – the better.

Some clients believe that everybody is a prospect for what they have to sell, and on a very generic level that may be true.  But that’s how you end up with a generic piece of copywriting.

Take this article for example.  I could have written about copywriters in general, but instead we’re discussing freelance real estate copywriters.  It’s a subset of the copywriter category topic, and something that both you and I are specifically interested in.