There is one very important aspect of real estate that will never get old: your ability to find and attract buyers. Knowing how to market your rental property for sale is the first step to finding the right buyers. As a real estate investor, you’re never going to realize the full gains to your rental property until you actually SELL it. If you’ve been trying to market your rental property for sale and you feel stuck, these ideas will help you make the move.
Related: 6 Tips to Help You With Marketing Your Property for Rent
The old-fashioned way
1. List your rental property with a real estate agent. The benefits of having a real estate agent include:
- Real estate agents who linger in your home will better remember details to later describe to buyers.
- Real estate agents know people who know people. It’s like a big chain of connections. A word here and a word there, and before you know it, your rental property is sold!
2. What’s wrong with the newspaper? People still read the newspaper while drinking their morning coffee, you know. List your rental property in a newspaper ad.
3. Put a sign in your yard. Buyers who are in need of a home will definitely stop to take a look when they see a sign that says “For sale”! You would be surprised how many investors try to sell their rental property for sale and don’t even consider putting a sign in front of their property.
Related: How to Market Rental Property All the Way
Open house
Of course, here you have to take into consideration that not every home is suitable for an open house. Think about the location and if it can attract viewers. The only way to find out is to actually try. If nobody comes, then it’s a good indication that open houses are not your way to market your rental property for sale. However, if your home is located near a high traffic area where buyers are swarming like bees, then attract potential buyers by having a big open house and maybe turn it into a block party. This way your house will be opened to potential buyers and before you know, it word will spread fast about your rental property for sale. So, for an open house do the following:
- Place “Open house” signs throughout the area directing buyers
- Advertise in the newspaper
- Advertise online
- Invite the neighbors
The glory of technology
With the growing development of technology, our lives have become much easier. Use technology to your advantage and make the best out of it. It’s difficult to market your rental property for sale without using the internet. If you want to be competitive, you’ll have to use some of these high-tech real estate investing tools to sell your property for the right price at the right time.
1. It’s all about the image!
If a homebuyer can’t walk through the home in person, he/she would want to see high-quality images of the interior and exterior of your home. To do this, you could hire a professional photographer to take pictures of your home and put them in your advertisement. These days it’s all about the image, and if buyers don’t see images of your home, they’ll just skip through the ad. If hiring a photographer is too high of a budget for you, then use a smartphone or a digital camera and take pictures yourself. Today’s technology apps work wonders, and always keep in mind that successful real estate investing relies heavily on great photography. Bad photos will diminish interest in even the greatest of properties. It’s absolutely vital that you have gorgeous photos of your rental property for sale.
2. Animated video
Consider outsourcing a quality animated video for your real estate business. Short, cute, high-quality cartoon videos can help establish your brand as well as give a touch of personality. You may even want to consider featuring local landmarks or sites in your animated video to make it ultra-unique and targeted. Your animated video doesn’t have to be super sophisticated, it just has to be informative and attractive to buyers!
Related: Social Media for Real Estate: A Key to Success
Social media!
Make sure you have social media accounts on all the big networks including Facebook, Twitter, Pinterest, Google+, and even Instagram if you snap a lot of house pics. Interact with users, share good press, and promote your properties. Marketing your rental property for sale through social media is the most beneficial way to ensure your property gets sold the right way! Facebook is by far the most lucrative network for marketing your rental property. Seventy-one percent of all adults have a Facebook account, which is approximately three times as many people as those who use any of the other social media networks. For this reason, you should begin your social marketing efforts with a Facebook page dedicated to marketing your rental property. This page can keep a standing photo album of what your real estate properties look like. You can advertise when you have openings, and share information about events. It’s also a good idea to include client testimonials, advertisements and specials, and other information that will attract potential buyers. The more people you can attract to this page, the better chance you have of keeping all of your units rented. You can also market your rental property for sale through Twitter. Twitter is an excellent platform for asking and answering questions. The setup is perfect for maintaining conversations and building audience reach through information sharing. Pinterest and Instagram are photo hubs that’ll let you share high-quality images of the apartments, amenities, rental community, neighborhood, and happy tenants. You can also use these networks to share relevant information and blog articles.
You see, in the end marketing your rental property for sale can be easy and fun at the same time. You don’t have to overcomplicate it. There are many opportunities opened for you, so all you have to do is to take action. And finally, do not forget to check out Mashvisor for the latest real estate tips and strategies for selling your rental property.