Property managers are a smart bunch, for the most part. Meaning they are susceptible to making silly mistakes that hurt their business, like anyone else.
When it comes to advertising, often it comes down to what you shouldn’t do instead of what you should. Let’s take a look at some of the mistakes property managers make while they’re advertising.
1. They spend too many resources on the wrong things.
If you aren’t careful, your advertising budget can quickly get out of control. Print ads, AdWords campaigns and media spots are costly. And you need to invest in some of those. But there are also a lot of free tools that you should use to prop up your marketing campaigns. Facebook and Craigslist, for example. There are several syndication tools that can multiply the reach of your advertising.
So the answer is finding the balance between paid and free advertising tools. If you don’t have the time or the know-how to do any of these tasks, you can always hire someone to do it for you. With a little bit of searching, you can find virtual assistants online that can handle the tedious work while you get on with the big picture stuff.
2. They don’t complete their listings.
Incomplete listings are way too common in the real estate world. Not incomplete in the sense that they don’t have the address of the property, because come on. Who does that?
Incomplete listings don’t provide the reader with enough information about the property. They don’t include enough photos, don’t have a description of the neighborhood or the apartment complex, or simply don’t talk about the house.
Its sales – SELL. Don’t expect people to show up to an abandoned house with a vague listing.
3. Their campaigns are too generic.
If you’re in a market where you’re the only property manager, you can get away with a generic listing. But you probably aren’t, so you need to make your listings unique. Tell your prospects about USPs of your property in your ad. What’s so great about your property? Let them know.
4. They show them homes that aren’t ready to be shown.
If you’ve been looking at properties for years, you can look beyond the grime and dust of a house and imagine what it could look like. But maybe your prospects can’t. If the first impression your prospects have of your property is negative, they aren’t very likely to come back.
Make sure your houses are clean, tidy and ready to wow your prospects BEFORE they walk through the front door.
5. They aren’t easily reachable.
You’re a busy person and you’ve got a lot of things on your mind. Granted. But if you’re harder to reach than the President, your clients won’t have too favorable an opinion of you. The longer you leave your prospects queries unanswered, the less likely they are to do business with you.
6. Screening too many prospects.
Sure, you’d like to have the perfect family with the loving parents and that one cute kid that sings adorably to live in your property. But if you wait around for too long, you’re leaving money on the table. After a certain point, you have to leave your own reservations at the door when you are evaluating prospects. Yes, maybe it’s an engineer who’s just migrated to your city. You know what his money looks like? EXACTLY like everyone else’s.
Do your background check and move on.
Advertising and marketing is a crucial part of being a successful property manager. Make sure you aren’t making the mistakes mentioned above in your own business.