Whether you've just bought your first investment property and are preparing to put it on the market or have several assets in your collection, how you advertise your investments can determine the quality of your tenants, the number of leads that come in, the rental rate, and so much more.
However, from the photography to the listing sites you're planning to use, there's a lot to consider, and that's not taking into account all the hours of answering calls and screening tenants as the list of applicants grows longer and longer.
That's why so many real estate investors trust property managers with the marketing of their investment property—they are experts, after all.
This blog will look at the top three benefits of hiring a Seattle property management expert to market your property!
1. Property Managers Have Wider Market Access
Due to time in the business and reputation, property managers will have a more extensive list of prospects than individual property owners. In fact, quality property managers should have a customer database, meaning they can track down hot prospective leads and focus on serious applicants from the get-go.
In addition, they have access to data and local connections through previously established relationships. You never know where a new lead can come from, especially when you have a professional property management group working on your behalf.
Through their business or connections, property managers will have access to an MLS (multiple listing service), a communal database that allows brokers to see other listings. The MLS is not a public platform and is reserved only for license holders. Without a property manager, rental owners don't often have access to this crucial resource.
This approach has the bonus of cutting down your search time and saving you from hours spent assessing unsuitable candidates while disrupting your cash flow and productivity.
2. Their Marketing Efforts Are More Scalable
Not only do property managers have a larger market to work with, but thanks to their scalability, they're also able to advertise more effectively. By going down the self-marketing route for your investment property, you're competing against property management groups with huge portfolios and massive ad spends—it's an uphill battle from the beginning.
As they're listing monthly in larger quantities, professional property management companies can get a better deal on their listings, making their ad spend go even further for less. Professional property groups are also experienced in listings, knowing what works well, leveraging strategies such as SEO, locality, and CTAs to target the right tenants, and using their internal property systems and connections to minimize vacancies and start your cash flow quicker.
Quality property managers will also utilize several paid and free listing services to ensure your property gets maximum visibility and expand your tenant options; they may have unique strategies or insights to assist with steps such as setting the rental rate.
Along with more extensive reach, property managers are also skilled in online marketing of properties meaning better conversions and lower vacancy rates for their clients.
3. They Know How to Make Your Property as Appealing as Possible
You can have the best property on the most excellent street in the city, but without the correct descriptions or photo, excellent prospective tenants will pass it by with one swipe of the finger on the listings page.
The listing is the first impression of your property, and you want potential residents to feel an immediate attraction to it through story-based copy and stunning photography.
A professional Seattle property manager will:
Write compelling copy that conveys relevant details, paints a picture of the area and lifestyle surrounding the property, and targets keywords for maximum visibility.
Highlight key amenities based on target local demographics and renter needs.
Work with professional photographers to utilize the property's lighting, angles, and critical features to create a stunning photography portfolio.
Utilize local channels and connections to promote your property and get maximum exposure.
Use their knowledge of the local area, databases, and systems to set an appropriate rental rate to match the advertisement.
Use additional marketing strategies such as social media and email lists to attract qualified leads.
Through experience and consistency, property managers know how to lease your property faster and with less hassle.
Consider Seattle Property Management For a First Class Marketing Strategy
There's much to consider when marketing your investment property. One poorly snapped photo or misplaced phrase can put off potential applicants and delay your vacancy period.
To ensure a successful and optimal listing strategy, consider enlisting the help of a professional property management group. The team of Real Property Associates in Seattle has extensive experience in property management and marketing to help property owners reduce vacancy times and enjoy better tenants. Reach out to our team to learn more about our property management services!
If you're ready to fill your space quicker and haven't got time to manage a listing and market your property, grab a free copy of our "Guide To The Best Property Manager in Seattle" to learn more about what you need in an ideal property manager!