In today’s world, you can’t rely on word-of-mouth to grow your business. Whether you’re a restaurant owner or sell wellness products, you need to market your brand effectively.
The same holds for real estate investors. If you’re learning how to start investing in residential real estate, it’s important to know the ins and outs of marketing yourself and your properties.
That task, however, can take a long time to master. Moreover, if you’re tied up in other aspects of your investment business, you may not have the time to devote to marketing your available properties. Unfortunately, that can hurt your ability to rent or sell those properties and make more money to reach your income goals.
So what’s the solution? Rather than spend your time Googling “what is wholesale real estate investing and marketing” or “how to market investment properties,” you should consider hiring an experienced marketing coordinator! Below, we’ll discuss what a marketing coordinator can do for your real estate investment success.
What is a Marketing Coordinator?
Firstly, what is a marketing coordinator? Simply put, a marketing coordinator is responsible for developing and executing marketing strategies to promote your available properties and to improve your overall brand awareness.
A marketing coordinator will typically come up with a plan to advertise property listings or your brand as a whole, identify the correct channels for distribution, put the said plan into action, monitor progress, and analyze or report on performance.
The specific duties of a marketing coordinator will depend on your budget and needs. However, they will typically manage your brand presence and marketing reach to help you find new properties, new buyers, and new renters to generate real estate investment income.
The ultimate goal of hiring a marketing coordinator is to increase interest in your available properties (from prospective buyers or tenants), boost traffic to your business website, and raise your brand’s visibility both online and offline.
Why Do You Need a Marketing Coordinator For Your Real Estate Investing Business?
You may understand that a marketing coordinator does, but do you really need one for your business and real estate investing team? The answer is yes!
In the digital age, marketing has become more crucial than ever. You can’t expect to sell or rent your available properties solely through word of mouth. If you’re still relying only on print marketing, you’re going to have a tough time keeping up.
Online marketing, in particular, has become crucial for the real estate industry. In 2020, first-time buyers accounted for 31% of all homebuyers. Of those first-time homebuyers, 82% were between the ages of 22 to 30. Since individuals under the age of 35 are also more likely to rent, your ability to reach young people within your target market may depend on your online presence.
Whether online or off, a real estate investor needs a way to effectively and consistently reach their target audience to grow your business and wealth!
What Are the Responsibilities of a Marketing Coordinator?
When you’re referring to the top tips for real estate investing, you’ll want to figure out what experts can do for your business and whether they’re worth prioritizing as an excellent addition to your investment team. So, with all of this information in mind, what can your marketing coordinator specifically do for you?
Create and Execute Marketing Strategies
A marketing coordinator can handle critical tasks that have to do with online and offline promotion. They’ll strategize for you and streamline the process, taking responsibility for marketing materials that can maximize your success.
In addition to taking care of online marketing for your available properties, marketing coordinators can also handle more traditional tasks, such as creating handouts for property showings and creating and installing yard signs when it’s time to rent or sell an investment property.
Perform Market Research
Ultimately, you’ll want to find a marketing coordinator who is well-versed in the areas that will bring you the most clients. If you aren’t sure about the right marketing channels or best markets to build your real estate portfolio, a coordinator can conduct research to ensure you’re targeting the best markets for success.
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Create, Publish, and Promote Listings
A marketing coordinator with experience in the real estate sector can create and publish listings for available rental properties or fix-and-flip properties. If you’ve been asking yourself, “what is wholesale real estate investing and how can I promote wholesale properties,” a marketing coordinator can post those listings for you to navigate that type of investment business, as well. Your coordinator can even work with a professional photographer to ensure listing photos show your properties in the best possible light.
Maintain Your Brand Identity
To become a go-to resource when people need to buy or rent a home, building your brand identity in your real estate markets is critical. The right marketing coordinator can also manage your brand presence, especially online. They can develop and manage website content, monitor and create content for your social media accounts, and act as an extension of your brand as you grow your business.
Think of your marketing coordinator as your first line of defense. Not only can they help develop your “voice” to stand out from other investment companies, but they can also communicate directly with your audience and act as a customer service representative.
What Should You Look For in a Marketing Coordinator?
What do you need in a marketing assistant? Property investors need to ensure the coordinator they pick has the experience and approach that will yield results for their real estate investing business.
When you’re learning how to start investing in residential real estate with help from a marketing coordinator, make sure they have some most (or all) of the following characteristics:
- A four-year degree in marketing or a related field
- Ample experience in the real estate sector
- Knowledge of website management and social media platforms
- Skills to create rental listings, conduct marketing research, and monitor analytics
- An understanding of your brand and goals (both short-term and long-term)
Keep in mind that you don’t necessarily have to hire a full-time marketing coordinator in-house. Instead, you may be able to hire an independent contractor or consultant with the knowledge and skills you need. Some investors will even work with virtual assistants to handle these tasks.
Determine your budget and assess how much time these marketing tasks will feasibly take. Then, you’ll be able to determine if it’s better to have a marketing coordinator on retainer or whether you should pay by the hour or by the project.
Don’t DIY Your Real Estate Investment Marketing!
Of all the tips for real estate investing you may have heard, you need to pay attention to this one: investors must know how to market their real estate opportunities! That said, a DIY approach to your marketing could leave you with lost revenue when a rental property sits empty or a fix-and-flip home doesn’t sell quickly enough. Adding a marketing assistant to your real estate investing team is a smart way to grow your business!
Remember: to market investment properties, you need good properties to market! Privy delivers investment properties to your inbox that fit your preferences in your preferred markets. Reach out soon to learn more about how Privy works!
Do you have the right players on your real estate investing team? Find out with a free copy of "Assemble Your Real Estate Investing Team: A Worksheet.”
