How Real Estate Management Professionals Can Use Social Media to Market a Rental Property
Technology has started to cause a slow revolution in the property sector. Platforms like Yabonza improve visibility and makes real estate management much simpler.
But technology can do so much more than help with real estate management. It also helps you to find people to rent the property in the first place.
Social media is one such technology that you may underestimate.
Using social media has the potential to generate awareness and increase inquiries far beyond the scope of traditional media channels such as newspapers and radio.
An active social media presence conveys to prospective tenants that you are an actively involved property manager who cares about keeping others up-to-date on available rental properties.
By establishing social media channels which promote and market your rental properties, you can reach an untapped audience of potential tenants and their social networks. Your tenants will be much more likely to share your social channels with their friends, relatives and colleagues.
Here are a few simple and effective ways real estate management companies can use social media to market a rental property:
Facebook Marketplace began in 2016, as an online shopping portal where members could buy and sell products within their local area. It has now grown to become a place where people from all over the world can participate in buying and selling a range of products. Not only that, it’s now being used by property managers to increase the number of potential leads at no additional cost.
After logging on to Facebook, first, tap the marketplace icon on your phone and click on the “Sell Something” tab.
Then it’s just a matter of filling in a few details, choosing “Rentals” under “Select a Category”, uploading photos of your listing and sharing your contact information. The post will be made from your personal profile and not your business, so people will message your personal profile from Facebook for more details on syndicating your listings between marketplace and listing sites.
Start building your social following by inviting friends, family, coworkers, and others to follow your channels. Consider sending out an email to past guests letting them know where to stay updated on your rental. There’s really no end to the valuable content you can share about your rental properties on social media.
Facebook advertising has added a new dimension to rental property marketing as it allows you to accurately target a listing to ideal prospects with the highest returns compared to other online advertising platforms.
Not only can you display ads to tenants serious about renting in your local area, but advanced retargeting capabilities allows you to retarget the right prospects with reminder ads which significantly increases the response rates.
When advertising on Facebook, ensure your messages are tailored to individuals, considering the interaction and exposure they have had with your business. If not you risk losing out to a competitor whose ads are more focused.
Also, your engagement levels will be higher and so will your return on investment.
What’s important to remember for real estate management companies when advertising on Facebook is that the objective is not to appeal to the masses, but to target offers to a specific audience and then retarget prospects who click on the ads.
For instance, you can decide to display ads only to renters in your city, and people who are most like your ideal tenant. If you believe your ideal tenants are young couples with annual incomes of under $70,000 and who have two children, you can target your ad to this specific group.
The other useful feature about Facebook advertising for real estate management companies is that you can choose an option of paying to have any number of prospects see your ad, or decide to pay only if a prospect performs a preset specified action after viewing the ad, such as visiting an offer page.
Facebook and LinkedIn Groups
As a real estate management professional, you are essentially in the relationship business and all your rental property management knowledge is of no use if you don’t have a strong network in your local area. You need to reach out to people where they are, and one of the easiest ways to do this is through Facebook and LinkedIn Groups.
You can find and join real estate related Groups and start actively engaging in them. Most Groups do not allow members to add direct links to an offer or product they are selling. Your objective is to engage within the group and establish yourself as the “Go To” rental property manager by providing valuable content, answering questions and commenting on what others say.
You can also start your own Facebook and LinkedIn Group. Invite past and present clients to join the group, so they can keep up to date with everything related to property management. What’s important to remember is the need to regularly add insightful content and respond to comments of others in the group.
Posting on Pinterest
Pinterest has over 200 million active users who post, not just about food, pets or sport, but other topics including property and real estate.
Open a real estate management business account and choose 5 topics, from the categories you are shown. If you choose real estate, some topics you will be shown are:
- real estate marketing tips
- real estate quotes
- real estate properties
Pinterest allows you to attach an add-in to your browser, making it easier to add content you find while browsing the web to your Pinterest account.
With your account set up, you can pin videos, podcasts and slideshares to your account.
You can now upload images and videos of the properties as well as surrounding areas of the properties you are looking to rent. This will help prospective tenants familiarize themselves with the local area.
To add some social proof, you can upload audio clips from past or present tenants reviewing the properties.
These are some of the many ways real estate management companies can use social media to find new tenants. Whether you’re sharing seasonal rental deals or chatting with potential renters on Twitter, use social media to reach a wider audience, while building your brand.
What you do away from social media platforms is as important as what you do on them.
When you advertise your properties on your own website, make it easy for people to share them. Add social media buttons to your listings. This increases the chances of people sharing your rental property with their friends.
Social media is just one of the many technological platforms that have changed the real estate management industry. Use it to your advantage to attract great tenants who pay their rent on time and take good care of a property for many years.