Real Estate Business: Considering Your Advertising Options

Should you put the word out via the Internet or the local paper? Would you do best with a simple “for rent” sign outside the property, or a banner down the side of the building? How and where you choose to advertise your vacancies will go a long way to determining what kind of applicants you attract. It may also determine how soon you fill vacancies, reducing the impact on your cash flow.Several resources exist for advertising a vacancy, some of which may be better suited to certain segments of the market than others. Common advertising venues include the following:Newspaper advertisements: Classified ads are the time-honoured and still-popular venue for apartment rental ads for both landlords and tenants.Many newspapers offer their print ads online, occasionally partnering with major listing sites such as GottaRent.com. Some of the larger media groups host sites that include listings from regional or community papers, giving you access to a larger potential audience than any one paper’s pages could offer. Don’t forget newspapers targeting a specific segment of the population, such as student and institutional papers.Online advertisements: One of the biggest changes for landlords in the past five years has been the rise of sophisticated online listing sites, and social media venues such as Facebook. Barebones sites such as Craigslist.org have given way to GottaRent.com, ViewIt.ca, and Renters.ca. GottaRent.com has also established relationships with newspapers, melding novel and traditional advertising venues and audiences.Many of the listing sites give landlords the option of targeting ads and tracking page views and responses, giving them insights into how to improve advertising strategies. Targeted advertising helps pre-select applicants who are best suited to the property. This is especially true of Facebook, where many large companies have garnered profitable tenancies for just pennies a listing.Signage: Many prospective tenants walk around neighbourhoods looking for vacancies. Posting a sign announcing an opening in your building is a great way to attract tenants who are seriously looking for a suite, want to be in your neighbourhood, and are diligent enough to walk the streets to find a place. On the other hand, you may also get a lot of calls from people who see the sign but have nothing more than a passing interest… so to speak.Tenant agencies: Some tenants will sign up with an agency that matches tenants with landlords. This reduces the legwork the tenant usually does to find a suite, and an agent can also give the landlord a better chance of finding a tenant who suits a particular property.No single advertising method will guarantee you the tenant that will suit your property. Rather than focus on one medium, use a mix of advertising that attracts a good assortment of applicants, but not more than you can handle.Advertising vacancies to your existing tenants may help you find a tenant not unlike the ones you’ve got. This could help preserve a balance in the building dynamic, ensuring stability and fewer hassles for you. Offering your existing tenants a “finder’s fee,” either in the form of cash or some other desirable prize, may encourage them to provide leads or tip off friends and colleagues of rooms to rent.

Marketing Advice: 5 Questions That Help You Succeed in Your Real Estate Business

Beware of marketing advice that proposes to give you answers. What most real estate agents need to grow a business are the key questions. My advice to you: work on discovering the answers to these questions and you’ll be well on your way to fantastic success!1. Why.
The first thing to ask yourself when seeking marketing advice is Why. Why are you in business in the first place? Why are you doing this as opposed to everything else you could be doing?My client Rosie had a successful husband and didn’t need to work, but she so wanted to help put lower-income families into homes. When times were hard for her business, or she’d just spent 10 hours on paperwork, she would think about that “why” and it kept her going.Another client, Jacque, loved having guilt-free money of her own to spend on herself. When she came to me for marketing advice, I suggested she posts her desired shopping list in images where she could see them all the time. Knowing why she was in her business kept her motivated.2. Who.
One of the biggest mistakes Realtors make is working with whoever shows up. Instead, successful business people, including real estate agents, use discernment to focus on a target market that best suits their skills, personalities and interests.Be honest, some of your clients have been a better fit than others. So, if you’re going to actually market to a target audience and invite them to come to you for help, be sure they’re prospects who are suited to benefit from you.My client Harvey loved to over deliver in service by going the extra mile for his clients, but when he worked with homes in the $100,000 range, that desire got him really burned out. His commissions at that level didn’t allow him to exceed expectations in a way that was profitable and enjoyable. Once he left his own geography a bit (about an hour away) and found wealthier neighborhoods, his skills came in handy for getting him more listings and clients who were impressed by his generosity.3. Why you?
They may not ask it this rudely (or they may!) but your prospect is always thinking this question. My marketing advice to you: figure out an answer to this question that will grab your prospects’ attention and stay in their minds as they decide who to list with. This is where a USP or a brand comes in. You’ve got to be unique, memorable and believable.4. Where?
Advertisers want you to fit into their existing media boxes, but their marketing advice might not suit your needs. The question you need to ask yourself is: where is my target audience looking for information about real estate? Are they reading local newspapers or magazines? Talking to friends?
Before you do the usual billboards, grocery store and newspaper ads, take time to think about how your last 10 clients found you. It’s possible those billboard funds are better invested in online pay per click ads.5. What, When and How Much?
It may sound dull, but the best marketing advice anyone can give you is to prepare a marketing plan. Too many Realtors are flying by the seat of their pants, without a budget or a plan. And that’s the kind of results they’re getting.A plan doesn’t have to be a 500-page tome you put on a shelf. Why not a one-page list of the months, or a wall calendar? Keep it simple and use what works for you. But, be sure to include these elements: what you’re going to do for your marketing, when you’ll start and complete it, and how much you plan to spend on each initiative.Two real estate partners I know work their marketing plan around the school calendar and focus heavily on networking through parent-teacher organizations and sports teams. They’re each visible at events, volunteer regularly and are the first to know about moves into or out of the district.With just five basic questions you’re much closer to achieving your goals and ensuring more success, more easily in your business.Stand Out from the Crowd! Get Your Own Money-Making Brand

How to Make Money With Real Estate – Some Strategies to a Successful Real Estate Business

Learning how to make money with real estate is important if you are new to the industry or if you really want to succeed in this kind of venture. Indeed, the real estate business can be a lucrative one but of course, given that you also know how to manage the risks that comes with it.Indeed, huge risks comes with the real estate business and if you have what it takes to become a real estate tycoon, then you can actually make a good business out of buying and selling homes.Of course, there is more to buying and selling in real estate. There are also several factors that you need to consider to be able to make good profits. If you want to try and learn how to make money with real estate, here are a few strategies and tips that may help you have a good start in this business venture.Holding on to the property until the price is right to sell. One strategy that people do is to hold on to the property that he just acquired and wait until the market value rises up, making profit with their price differences. Of course, while waiting for this right time to sell, you can however rent the property and make it productive. However, the risks in involved in this strategy can be high. When the market price of the real property deteriorates, it can also incur you tons of losses.If you are someone who does not enjoy waiting, then you can also do the flipping. The idea behind flipping is buying an underpriced house or property and selling it in a matter of days or months. You can make profit in this strategy especially if there are major changes in the market price of the property that is favorable for your selling.Another technique when flipping a property is to buy homes that need renovation or a little repair at a cheap price, get all the repairs done and sell it on a much higher price. Of course, you are selling a property that is already fixed, so you also get to sell it at a good price as well.Foreclosed property is also a good investment if you want to learn how to make money with real estate. Most often, foreclosed properties are sold at cheaper price or at good deal and this can be a good opportunity to find the best deals with houses and properties that you can sell later.To get the best price for your property, you can also invest in home staging. This is often a good marketing strategy that will allow you to put good prices for your properties and will also help you in selling your acquired properties fast. Of course, you are giving your potential clients idea on what to do with the home and what it is like when you all have made the efforts of decorating and staging your acquired property.