Using the latest digital and internet marketing techniques to promote yourself as a property manager will be key to setting yourself apart in the marketplace.
Let’s be honest. Real estate is a competitive industry. Providing property management as one of your services can be a great way to differentiate yourself to property owners who are looking for alternatives to selling their home. More and more over the last few years, I have seen a dramatic jump in the number of homeowners who call our firm asking us to help them analyze whether or not to sell or rent out their house.
The fact is that now, more than anytime in history, people are choosing to rent a home regardless of whether or not they can afford to buy. I have found that many of my tenant clients today are, strong income earners, have good credit, and low debt levels. They could certainly buy a house if they wanted to, but they choose to rent instead.
This growing “renter economy” provides a fantastic opportunity for real estate agents considering property management. On the one hand, where you have owners who would traditionally be sellers, they are now considering becoming landlords. This can provide a steady stream of houses and condos that will be available for management. When it comes to the buying side, you have what would normally be potential home-buyers, who are now choosing to become tenants. The rental business is booming and now is the time to get involved. But like any other business venture you will need to include some property management marketing strategies to generate business and get the word out about your management services.
Marketing in today’s busy world
In today’s digital world, it can be easier (and harder) than ever to get your message out to the masses. Easy, because the tools for mass communication are available to almost anyone nowadays. But, because it is available to everyone – it can be harder than ever to rise above the noise and be noticed. In a competitive industry like property management marketing and competitive channels like Google and Facebook, it is more important than ever to be able to stand out. Many strategies from just 4 or 5 years ago are now outdated. The digital world moves fast. It is important that you keep abreast of digital marketing. As property managers know, we are responsible for promoting ourselves and landing our own clients. Having some current knowledge of how digital and internet marketing works in today’s marketplace, will be key for you going forward.
When I started learning digital marketing in 2006/2007, I was 26 years old and I had just started my own brokerage. I needed to learn how to generate some business, fast. As luck would have it, fate stepped in and introduced me not only to a few great friends but also some great mentors. As I was working on building up my brokerage in late 2006, I met a gentleman who was prolific in fine homes renovations and development, an area of the business in which I had a lot of interest at the time. He had just taken on a new multi-million dollar renovation project and wanted to know if I could help him manage the project. I was very interested. I had a strong interest in learning about construction management at the time and this seemed like the perfect opportunity to learn. So we worked out a deal. I would use my spare time to manage his project, he would teach me what I wanted to know.
During this time, not only would I learn about managing construction projects, but I would also be starting on a life-long path of learning about digital marketing. It just so happened that the people involved in this project had a strong background in internet marketing and business, and had done very well in the industry. I was also lucky enough to become friends with some of these individuals and they were willing to share their knowledge with me too! How lucky could I be! Not only was I able to learn about construction, but now I was also on the path of becoming an expert in internet marketing. For the last 14 years, I have learned and studied everything I could in internet marketing. Today I would consider myself an expert. These skills have served me well over the years and I am thrilled to share with you what I know.
Marketing info for property managers
When it comes to internet marketing, there is no shortage of information. Some of it good, most of it mediocre, and some that’s downright dangerous to your online reputation. My goal is to give you a few key concepts and some strong fundamental practices you can put into use right away. These fundamental practices will be effective if done properly. Unfortunately, there is just way too much information on the subject. In the last 20 years, digital marketing has become extremely competitive, along with becoming more and more complex. From changing algorithms and search engine updates, to rapidly shifting consumer behavior and attention spans, digital marketing has become harder. I implore you to stay informed about search engine and digital marketing. Learn what you can about the solid principles, and best practices that the search engines recommend in their publications. This will prove to stand the test of time amidst the changing landscape of competition.
