Businesses that place properties for rent or sale are called property managers, yet the marketplace is so competitive that the property owners now hold all the cards. If you’re looking for innovative ways to convince owners to work with you, you’re not alone.
Property owners want to work with a manager who can rent or sell their properties quickly and at a great price. Many managers can accomplish this, but they all make this basic promise, which means none of them stand out in the market. Your only hope of success is to differentiate your firm from the pack. These ideas should get you off to a good start.
Promote Your Technology
As any business owner will tell you, technology has fundamentally changed the way they work, whether they’re developing web content or automating business processes. But technology can also be a selling point if you use it to demonstrate added value to property owners.
Not many property managers tout their use of commercial property management software, but it can be a great way to distinguish yourself. For example, an owner who’s had problems in the past with rent collection or long vacancies would love to work with a firm that’s both well-organized and good at collecting rent or payments on time.
Create Stunning Profiles
A basic ad and a small, one-sided photo of a property was enough to sell or rent a property – 20 years ago. Potential renters or sellers turn away from incomplete or inaccurate information, so provide a 360-degree view – literally – using the latest graphic tools.
Still photos can attract attention, but a full virtual tour of a property keeps people on your website longer and answers their questions about what the property looks like. Instead of casual inquiries about the property, you’ll get inquiries from more qualified leads, and you can spend the initial meeting talking about terms instead of browsing the property.
Leverage Your Expertise
Few things make potential buyers or renters more nervous than a property manager who barely understands the transaction they’re initiating. Put your clients at ease by devoting your marketing strategy to your knowledge and expertise.
Highlight your accreditations, or earn them if you don’t already have them. Write a blog covering the most important topics in the property management field. Speak at neighborhood and professional organizations. The more knowledgeable you are about property management, the more attractive you’ll be to property owners.
Be Proactive
Having a website is great, but there are lots of websites for property managers. A website run by a property manager who actively reaches out to the community is more likely to be visited and generate more quality leads.
Attend networking events in your community, but look for the opportunities that other property managers skip. For instance, when everyone else is attending an industry event, go to a homebuilders’ association meeting. The more property owners see you in and around town, the more trustworthy you’ll become.
Property management can lead to great success, but only if you know how to best the competition. Find ways to distinguish yourself in the marketplace and you’ll enjoy a fruitful career as a property manager.
Author Bio: Kevin Michaels owns a few properties and loves learning about property management and real estate. He’s also a freelance blogger and loves technology. Follow him on Twitter @Kev_Michaels.