In this ultra-competitive real-estate market that sometimes doesn’t put the odds in your favour, a number of empty properties in your portfolio are not a good prospect. Regardless of you using a property management CRM, or being in the residential, rental or commercial market, the fundamentals of keeping all your properties occupied are relatively the same.
Thankfully, in this age of disruptive technology that is influencing the direction markets are taking, it is generating enough benefit, especially through property management CRM for the real estate market. It is only fuelled by a recent survey which shows people who search online earn an income 25% more vis-à-vis their offline counterparts. Yard signs help and studies show how they get you 50% of calls.
Unfortunately, those convert to less than 10% of lease contracts. Our article will primarily address how online methods and niche tools from real estate software companies can aid your marketing efforts, without skipping offline practices.
Rental Advertisement Syndications & Niche Online Rental Applications
Since property management CRM solutions are a primary way of connecting and understanding customers better, it is a powerful marketing tool for property managers to manage and increase their product portfolio i.e. their assets and amplify their sales efforts. Today’s best software for property management integrates significant marketing capabilities that come to the rescue when you have properties to be occupied.
By using big data and user history, these tools can now be integrated into the software, and use the power of the entire technology ecosystem to contextualize the properties to be displayed, and display rental ads. These ads can be syndicated with listing websites like Trulia and Realtor, to garner further leads and interest.
Additionally, using rental applications can further simplify filling your vacant properties, as they are naturally built for the rental market. By expediting tenant screening reports or generating flexible pricing, the applications become your backbone in many circumstances, like when you are out meeting a customer, thanks to cloud and analytics technologies.
Use A Tech-Savvy Property Manager
With more tools in a property manager’s arsenal, faster computing power and the market’s affinity towards online habits, you might think it is easier to keep driving growth and eliminate losses through vacant properties. Since we are creatures of habit, it is imperative that the property manager is naturally inclined towards adopting digital routines and practices with platforms offered by real estate software companies.
These habits must go beyond their professional domains as well. A recent study by apartments.com shows how 61% of apartments searched online, to begin with, a search engine or on apartment listing websites. Besides offline promotional strategies like ‘vacant boards’ or hoardings at property fairs, the chunk of online searches and enquiries shown through the survey mandate property managers be equipped in digital property management mediums.
It is possible when they have a dedicated digital marketing and web team that uses the best software for property management.
Leverage Marketing Capabilities of Property Management Software
The ability of property management CRM to converge the end-to-end functioning of your organization, from departments to stakeholders to external APIs (Application Programming Interfaces) shows how a technology platform can drive synergies between departments.
Real estate software companies now understand the cost of vacant properties, that are sometimes linked to the management fees of property managers. With every passing hour, a vacant asset is burning a realtor’s pocket. While vacancies give them enough time to perform maintenance and make necessary updates, property management software allows managers and owners to easily create and update their websites, offer rent comparison tools, create marketing campaigns for asset categories, and more.
The property management CRM becomes the hub for all their activities, converge status updates and intelligent recommendations thanks to new technologies like artificial intelligence.
Keep Your Site Updated
Online web owners who engage in selling or buying are always torn between managing their home base or their embassies. What do I mean? Their website is their home base, giving them complete authority over what they display, as opposed to their listings, which are embassies where they have relative control. It is always ideal to maintain a good balance, but marketing the website begins with some housekeeping.
A number of template-based hosting platforms, including some offered by property management CRM solutions, are a great way to conveniently make routine changes and updates. Update or promote new properties to the home page where it can prominently be found by your target audience, have great visuals, and add in a 360-degree virtual reality tour to replicate the property for prospects.
Additionally, from an SEO perspective, don’t miss the essential principles like keeping the images light or limiting the web page loading time to under 2-3 seconds.
Write Online listings and Track User Engagement
Don’t miss maintaining your embassy properties as well, such as dedicated pages on a listing or classified websites. In fact, focus on keeping them in shape as much as you would your home base i.e. your website. The advantages of listing websites offer are attracting far more target users than your website would, who could potentially land on the listing webpage allotted to you.
They would also employ targeting capabilities to promote your properties to relevant buyers. Combine the power of real estate project management software to uncover data patterns from previous user behaviour reports that can be generated. Couple that with the features offered by the listing website, and write appealing content that delivers the message through some salient principles: adopt typical storytelling techniques, use previous copy material used by past sellers, and bring out why that property is unique.
Then use the capability of your property management CRM to track incoming requests and sales funnel flow through the lead management module. Tally the source of the leads to respective listing websites to evaluate what worked and what didn’t.
A recent study shows certain distinct trends. A typical home buyer is aged around 44, isn’t married yet but living by themselves, and earns around $88,500 annually. You now can get not only know such valuable, data-driven insights using a property management CRM but know similar insights for your business too.
Rather than taking intuitive decisions, begin using software systems like the best software for property management to enable data-driven insights and decision to steer your business forward, and keep your properties occupied. Setting benchmarks in property occupancy is not a tough task if you can get these strategies right.