When it comes to real estate investing, purchasing properties is just the beginning. To be successful, you must know how to market them effectively. Whether you’re selling or renting your investment property, a good marketing strategy plays a vital role in maximizing profits.
Knowing skills like how to stage your property, the right platforms to list it on, and branding tactics will help you gain an edge in the market. In this blog, you will learn three key real estate investor marketing tips to help increase your ROI and connect with the right tenants and buyers.
3 Key Real Estate Investor Marketing Tips
1. Marketing Presentation
How you present your property to potential tenants and buyers makes all the difference in how quickly you can fill the space and the amount you can charge. Most people do not think about how they showcase their rental properties (if you don’t believe us, just look at properties for rent on Zillow or Realtor.com!)
Here are some ideas for how to enhance your market presentation: apply fresh paint and good lighting, clean your properties thoroughly, stage them with good furniture and accessories, and hire a professional photographer for the listing photos. Be a good financial steward, but do not be cheap. You must spend money to make money and apply the law of leverage. The return on your investment will be worth it!
Another marketing tip that most real estate investors do not think about is to create a brand for your real estate business. Market your properties under the same brand and make sure each of them comply with your brand standards. This gives your customers an idea of what they can expect and will give you an edge in the market! Consistency is key in business, and the same principles apply to real estate as well.
2. Finding the Right Property Manager
Property managers can make or break your success as a real estate investor. They are responsible for marketing your properties and finding the right tenants. In addition, the manage tenants, handle renewals and vacancies, and look out for the wellbeing of your property.
Typically, property managers charge between 8-10% of the property’s monthly rent. They are worth their weight in gold if they do the following:
- Know how to attract and secure great tenants
- Is kind to tenants (they are an extension of you!)
- Take ownership of the property’s appearance and make sure it remains attractive to prospective tenants and buyers
- Respond in a timely manner
3. Look for Long-term Appreciation
One of the most important real estate investor marketing tips is to be proactive on the front-end when you choose where to invest. Like any business, your marketing strategy must speak to your customer segments and use the appropriate channels to deliver your message.
So, you want to invest in markets that have a promising customer segment! Look for potential growth and examine the economic happenings in your market. Research upcoming businesses and industries that will bring new jobs and residents to the area. Finally, study the tax and renting laws and determine if they are favorable to investors.
Do you want to learn more real estate investor marketing tips? Check out this video from WealthBuilders VP and real estate coach Karen Conrad Metcalfe!
