Investing in real estate is a business for which you plan to earn a profit. Oddly enough, many would-be real estate investors balk at the concept of marketing their business.
For some, it’s about taking that stand and saying, yes, this is my business. It’s not quite official and you can’t really fail if the world has no clue what you’re doing, right?
The problem with that logic, of course, is that you can’t really succeed until the right person knows what you’re doing. It doesn’t matter if you’re looking for renters, buyers, or silent partners (who are mostly anything but silent), if no one knows you’re looking, you’re going to have a hard time getting what you want.
Now that you understand the necessity of marketing, it’s time to focus on how to market your real estate investments. Fortunately, there are a few good options available to you.
Local Marketing
Most communities have some sort of newspaper or community resource filled with ads from businesses and individuals. These almost always include sections dedicated to real estate properties for sale and for rent.
Larger communities even have papers or magazines that are dedicated specifically to properties for sale as well as those dedicated to properties for rent. Make sure your property finds its way into the appropriate resource.
Internet Marketing
If you’re investing in property, especially multiple rental properties, or even multi-unit rental properties, it’s an absolute necessity to advertise online. That’s where the bulk of your target market is going to be looking for their next home.
That doesn’t mean that people who are buying homes aren’t using the Internet in their search. In fact, the Internet is equally important in these situations. You need to put them where people in your community who are looking for a home will find them.
There are tons of sites dedicated to owners who are selling properties without the assistance of a Realtor. These are perfect for you to place information about your investment properties.
Realtor/Property Manager
Again, depending on whether you’re investing in rental properties or flipping houses you’ve rehabbed, you may decide to take a more hands off approach when the time to sell comes along. This is often wise after a flip — especially if you developed an emotional attachment to the property during the process.
Part of the benefit of hiring these professionals to sweat the details is that they do the advertising for you. This leaves you free to move on to your next investment property or take a well-deserved break.
Marketing is a necessity if you want your real estate business to reach its full potential. However, with the marketing tactics mentioned above, it doesn’t have to be anything something you dread, like going to the dentist. Put these tactics to use in you marketing strategy and see how fast your real estate business takes off.