Whether you invest in fix-and-flip opportunities or operate rental properties, marketing your real estate assets is a critical part of making money! However, effective marketing is rarely as simple as posting a listing and finding your ideal buyer or renter.
What do investors need to keep in mind when it's time to list a renovated flip or find a new tenant? Keep reading for some of our best tips for real estate investing when it's time to market a property.
Create Compelling Listings (With High-Quality Photos)
You might be surprised at the importance of the content for a successful listing. Listings that sell or rent investment properties quickly require more than a few words and quick photos of the property.
First, property owners must create compelling listings that describe the property's best features. You should also use high-quality photos to showcase the potential of a property and its charm. While it can be tempting to snap a few shots using your smartphone, many successful investors will tell you that investing in a professional photographer specializing in real estate photos can give listings the boost you need to stand out!
When creating a listing—whether for a rental property or a flipped house—describe the home for the ideal tenant or buyer. In addition to highlighting the property itself, include details about the neighborhood and surrounding areas to help new renters or buyers fall in love with the community, too.
List on High-Traffic Websites
After creating a compelling listing, it's critical to list your properties on heavily-trafficked real estate sites and platforms. This will help ensure that more people see your properties and have the opportunity to rent or buy them.
While it can be tempting to focus only on free listings sites, like Craiglist or Facebook, getting your investment property in front of more eyes helps you rent or sell it faster. The longer the property sits on the market, the more money you lose!
One of the most critical property listings resources is the MLS (Multiple Listings Service). However, most real estate investors won't have access to this service without the help of a real estate agent.
Partner With a Real Estate Agent
If you're looking to invest in residential properties or it's time to sell your fix-and-flip investment, partnering with a real estate agent is one of the best things you can do. In addition to having access to resources like the MLS, the right agent is experienced in working with buyers and sellers.
When working with an experienced real estate agent, be sure to ask about their marketing strategy and what platforms they'll use for marketing your listing. Many investors shy away from working with real estate agents because they think it will be too costly. However, agents typically only charge a commission (around 5-6% of the sale price) when a property sells.
Plus, when your investment properties are listed on the MLS, Privy has access to them and can get them in front of the ideal investors looking for properties just like yours!
Partner with a Property Manager or Marketing Assistant
If you're short on time or don't have the experience to market your real estate investment properties yourself, consider partnering with a property manager or marketing assistant.
A property manager can find and screen tenants, collect rent, and handle repairs and other issues that may come up during tenancy. This leaves you more time to focus on finding new properties to invest in or managing your existing portfolio.
Similarly, a marketing assistant can help create listings, manage social media accounts, and reach out to potential buyers and renters. Having help from an experienced marketer can be critical in getting your listings in front of the right people.
Make Sure Your Lease Agreement Is Ready to Go
When it comes time to find tenants for your rental property, it's important to have a residential lease agreement in place. This document spells out the expectations and responsibilities of both the tenant and the property owner.
A residential lease agreement should include:
- The names of all parties involved
- The address of the property
- The length of the lease (or rental period)
- The amount of rent due and when it's due
- Details about late payments or returned checks
- The amenities or services included with the rent (e.g., water, trash removal, parking, internet, etc.)
- Policies on subletting or hosting guests
- Rules about pets and smoking
- Information on security deposits and other fees
Marketing is a critical aspect of any real estate investment, whether you're trying to rent out a property or flip it for a quick profit. Having an airtight lease agreement ready helps a real estate investor expedite the leasing process and start generating rental income sooner!
Find the Best Properties for Investing with Privy!
By following the real estate investing tips in this article, you'll be sure to get your properties in front of more potential renters and buyers. Then, with the help of a real estate agent, property manager, or marketing assistant, you can focus on what you're good at—investing in residential properties!
When it's time to find your next property, Privy is here to help. Our platform finds properties based on your set criteria then sends them directly to your inbox. Reach out soon to learn more about the Privy advantage!
Learn more about what you need in a solid lease agreement. Download a free copy of “The Ultimate Guide to Lease Agreements.”