Networking and marketing tips
How many brokers are actively searching for tenants for you?
ATTENTION: “actively” – means the broker is really motivated and working hard to reach the target. For example, you contact 20 different brokers and it may be that none of them will be actively involved; either the broker is not concentrated much in the area your property is located in, or the broker is doing a mixed selling and renting service – which is considered interesting as long as easy to perform, or the broker is simply not responsible – needs continuous follow up from your side, or the broker is asking for exclusivity…
To get the prospect ready to pay your asking price within short time you need to know how to effectively motivate real estate brokers.
- Property conditions
Make sure you maintain your unit clean and ready for move-in before showing it to any client. It creates positive impressions and highlights your option among others. Never show your property if it is dirty or has maintenance issues. You may think that all work could be done after getting a tenant but on the other hand potential tenant may think you will never do it if you haven’t done it already. Additionally, it decreases the value of your property, not only creates lots of doubts from a tenant’s side.
- Professional pictures
Hire photographer to make a professional photo-shoot of your unit. It doesn’t cost a lot but it will definitely help you to attract more potential tenants for viewings.
- Attract professional brokers
Brokers put more efforts and succeed faster if you offer reasonable agency fee in return. You need to find as more as possible decent brokers and keep in touch with them. The faster way is to hire a property manager who will get your unit distributed to most professional brokers in the area.