When most landlords get started in real estate investing, they learn quickly that their new career will require multiple skill sets. If you are like most of my clients, you still spend a great deal of time offline looking at potential deals for new properties, scanning the Multiple Listing Service (MLS), and even sending out postcard and yellow letter campaigns. You may feel you simply do not have time for social media or it will not significantly improve your business. However, effective social media advertising will not only help you fill your units; it will also establish you as an expert in your local market (no small advantage) and may enable you to charge more competitive rents on your properties.
If you aren’t sure where to begin with your social media marketing strategy, here are three tips for getting started today:
1 | Establish a Facebook Business Page
Getting your Facebook business page reserved takes only a matter of a few minutes, and this simple step is the starting point for getting the quickest exposure to your desired audience. Facebook is on pace to hit 2 billion users worldwide in 2017. Currently, there are over 1.79 billion active monthly Facebook users which shows a 16 percent year-over-year increase. Take the time and energy to establish yourself as a resource for rental properties within a specific geographic location. You will find your time was well spent.
2 | Make Sure You Have Good Images
When creating your Facebook business page, start with the photo album. Get quality, high resolution images (if possible). The clearer the image the easier it is for renters to imagine themselves in the property. Get images of the inside and the outside. You can use one of your favorite high-quality images for the banner or header image on your page as well. Use a watermark on your image, your logo works just fine. You want to avoid people stealing your images. Make sure to change your image on a regular basis to keep the viewer interested in your various properties. Using your new properties or recent vacancies as the image can draw in perspective renters.
3 | Maximize Your Rehabs
Facebook users love to see the unit while it’s in rehab, think flip this house fans. So, if you are renovating or rehabbing take before, in-progress and after photos. You may also want to create a series of long and short videos of your properties either during or after a rehab. Use 360-degree interactive images, and give prospective renters the ability to look at entire rooms!
These are just three options to get your social media marketing started quickly and easily. Anything you create for Facebook, you can likely also leverage on other social media websites like LinkedIn, Twitter or Instagram. The most important step for most landlords is to get started using social media regularly, and you will soon find that your specific audience has very specific types of promotions that get the best responses.
Linda Liberatore is a member of more than seven REIAs in the Chicago area, president of the Lake County Property Investors Association, and shares her knowledge about effective, profitable property management at local and national REIA events as well as on podcasts and in print nationally. She will be presenting “How to Save 7 hours and $1,000 Each Month While Growing Your Real Estate Wealth and Rental Portfolio” at Think Realty’s National Conference and Expo in Atlanta, Georgia, on October 14, 2017, and contributing to Think Realty’s newsletter with valuable information leading up to that event. Click HERE to reserve your spot now.