Being a realtor for potential property investors can be an exciting and intense endeavor. Even if you’re part of a larger firm of realtors, being a realtor is like owning your own small business. Running this business can be daunting: you’re always on the lookout for leads, networking opportunities, making connections with clients, and building relationships within the sphere of property ownership and management. It can be intense, and many real estate agents don’t make it past their first two years. One significant advantage for today’s realtors is that a lot of marketing, networking opportunities and a bounty of resources are available online, which is cheaper or even free. However, your competition can access the same data.
If you feel you have the knack for real estate and want to hit the ground running a great option is to team up with a property management company. Finding one you can trust may take some time and research, but a great property manager can help you provide a plethora of resources to your clients, which build those relationships and your business.
Marketing Your Brand in 2019
According to The Balance: Small Business when working with buyers there are two things to remember:
1. As a realtor don’t think of yourself as a salesperson but rather a consultant: These days, potential investors are much more informed about how sales and marketing work and geared toward them to purchase. In the mindset of “consultant,” you are partnering with the client to meet their needs. Your ability to present yourself in person has much more to do with showing your knowledge and in-depth research of the best available properties and how your previous experience will work for your client.
Think of it as providing data that will help them make an informed decision rather than pitching them an over-inflated idea. Most people are sensitive to when they’re being sold to, and by subverting their expectations with figures rather than a sales pitch, you establish trust.
2. Your online presence is just as significant, if not more important, than in-person networking: Just like many businesses, real estate has moved to a digital platform. Much of a client’s research is going to be done online before they ever try to meet with a realtor in person. That’s why it’s essential to have a robust online presence. Creating a site or page that has professional photos and well-worded descriptions will take you further than many older techniques of cold-calling, schmoozing, and mailers.
Building Your Brand with Social Media
Social media has integrated itself into our everyday lives, including how investors work with realtors. Maintaining your brand online is crucial to staying competitive. The best way to market your brand is by using sites such as Facebook, Instagram, and Twitter. Julie Nelson suggests using these platforms, particularly Facebook, as a jumping off point to make contact rather than the be all end all of your communication methods.
When utilizing social media it becomes about 1) what you know and 2) what resources you can provide as an individual. You want your page or profile visitors to see what you have to offer as far as previous accomplishments and general knowledge of investment properties, plus all the ins and outs of owning and renting your property.
1) What you know: use your social media profiles to keep the conversation going. Posting articles from trusted sources regularly regarding best property management practices shows your investment in your business and therefore your clients. With each satisfied client, a post should follow as well, establishing your credibility and furthering your reputation.
2) What resources you can provide: Julie advises that all solicitations for leads get sent through your page. Those who reach out should receive an immediate private message followed by a phone call to that person and then to the lead. This outreach is helps gather contacts within the sphere of property management such as maintenance.
How Property Management Can Help You Achieve Financial Success
Posting quality content and establishing reliable contacts be challenging to achieve on your own, which is why working with a property management team can be helpful. Real Property Management not only provides knowledge, support, and trustworthy contacts but also can help you achieve the best bang for a realtor’s buck. With Real Property Management your client gets both your and Real Property Management’s expertise when searching for the best property for their investment.
From there, if your client and Real Property Management sign a contract, you'll receive a referral fee. Finally, Real Property Management guarantees “right of first refusal.” This means you, as the original realtor, receive the listing first when the owner decides to sell the property. You’ve now had the opportunity as the realtor to earn three times on just one property while continuing to build your reputation with your client.
Partnering with a property manager means you can be a one-stop-shop of information and expertise for your client while building your portfolio and establishing your reputation. Start growing your business today by clicking the link below and refer a client to us!