In the property management industry, there’s lots of talk about finding leads. It’s all about locating and retaining quality, long-term residents for your property. A great way of locating leads is to think of it in reverse. In other words, rather than figure out where you can go looking for leads, determine instead where your prospects are most likely to go looking for housing. This will help you pinpoint where to allocate your marketing dollars for optimum results. That said, here are a few of the most common places where quality renters are searching for rental properties, in no particular order.
Internet Listings
We live in a digital world where just about everyone has access to a computer, tablet, smart phone or other mobile device. No longer are people purchasing newspapers to read through the listings – now they’re turning the web to locate everything they need, from products and services to housing. There are lots of options when it comes to internet listings, so it’s important to determine which ones will net you the best results. You may have to experiment a bit and see which ones you get more bites from to determine where to focus your marketing efforts.
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Signage
Another powerful way to gather leads is to advertise your available properties with signage on or near the property itself. This is an especially attractive option, since it is hyper targeted (people seeing the signs are already living or working in the area of your property, or are scoping out the area because they’re interested in living there). It’s also extremely inexpensive in comparison to other marketing methods. All it costs is whatever you pay to purchase your “For Rent” signs and, of course, the time it takes out of your schedule to post the signs.
Word of Mouth
Never underestimate the power of word of mouth in marketing. People trust the advice of friends, family and colleagues over any other type of advertising, so tap into some of your existing residents to see if they know of anyone looking for a house, condo or apartment. Offer a referral program and sweeten the deal by rewarding those who provide quality leads. All it takes is a gift card or other small bonus and you’ll have a pool of quality leads without having to do a lot of leg work.
Social Media
By now we probably sound like a broken record, but if you’re not leveraging the power of social media and making your presence known online, you’re most certainly missing out on tremendous opportunity to grow your business. Social media takes word of mouth marketing to a whole new level, expanding your reach exponentially, from your own networks to the networks of all of the people you are connected to, and all at a relatively low cost. Share your listings via popular platforms like Facebook and Twitter, and encourage others to share with their own networks.
When it comes to generating leads, sometimes the most effective way to target your prospects is to first pinpoint where they are going to find you. Then, go to them by focusing your marketing efforts in the right places. The more precise you are with this process, the more effective you’ll be at getting the results you want and all without going over your budget.
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