Hi all,
I am currently looking at a few property managers to decide which one to run with for a particular property. One of the big differences is the methods they use to advertise rentals.
Property Manager Number 1:
Uses the internet (all the usual sites)
and
Has a rental list that is available to people if they enter the real estate agency premises and request it at receptionProperty Manager Number 2:
Uses the internet (all the usual sites)
and
Has a rental list that is available to people if they enter the real estate agency premises and request it at reception
and
Has the same rental list available as a takeaway printout, positioned outside the agency premises at all times, whether it be opened or closed
and
Has a window where there is a placard for each vacant property being advertisedMy question is this:
In your humble property investing experience, how important are those last two advertising modes? (takeaway printouts, and placards in window)? Have you got a feel for whether without these two modes, it takes longer to rent a place? Or whether most of the business comes in via the internet? Or….?
Looking forward to hearing your thoughts!
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
I would question how many properties each currently manage and how many are currently vacant. This will help you gauge how effective their marketing is and whether the differences between the two forms of advertising matter a great deal.
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
good point
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
Also, the location on the PM's office can play a big part. One that has decent street frontage and is in a busy pedestrian area will do better than one that's a bit out of the way.
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Totally agree with that. The two I've narrowed it down to have only one block between them. One is on the main street, and the other on the street that runs parallel. Happy to pay a little more for the right one, as long as I am comfortable that the extra money is buying extra services, a better more motivated PM, or more effective advertising that leads to lower vacancies, and speedier lettings process.
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
Personally, I'd rather more than less in the way of promo however it does depend on the area. In some areas one web portal is more effective than the other in other areas it is the flyers out the front of the agency/window display however this relies on people not being computer literate (very old school) but it is very dependent upon the demographics of the area.
If the list is only available on request from the counter, then the tenant can't make an anonymous approach for their research (whether it be web or paper) esp if they already rent through the agency.
I'd disagree with you on one point Jamie, foot traffic is no longer necessary if the bulk of their marketing is web based (plenty of real estate agents in Mosman who don't pay $2000/m2 and prefer a virtual presence).
This is a regional city (Geelong). Target market: 1 bedder dwelling customers. Yep, more advertising is the go.
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
You must be logged in to reply to this topic. If you don't have an account, you can register here.
