I'm now expanding my PM portfolio of properties...I do this every spring and this year I am doing it a little differently...I am marketing/direct mailing to property owners selling their homes....here's my reasoning
At the end of last year's selling season - July and August, I started getting calls from owners who had moved, whose homes were sitting vacant and who wanted to rent them...I had been sending out a 3-panel brochure I have with Kiplinger article REAL ESTATE * RENT NOW * SELL LATER.....I print them on heavy brochure stock I purchased from Paper Direct.....unfortunately, I was a little late and too far past the season so this year I am doing it EARLIER almost when the homes go on the market.
I'll send out another brochure "Become a Landlord" with my services on it in a few weeks so that if/when their home does not sell, they will think about renting EARLIER rather than LATER. Repetition is the key and these types of mailings are usually kept in a file, next to take-out pizza menus
I'm getting the sellers' names from the areas I already have rental homes in and I will have my signs on upcoming vacancies over the next few weeks....subtle reminders.
If the owners have already moved, I've placed ADDRESS SERVICES REQUESTED under my return address and I'll pay the $.50 for their new address and put that on my mailing label matrix for the next mailing.
In addition to these flyers, I also have ads in local flyers that are stuffed in the holders under the mailboxes in these areas so prospective clients have already seen my ads as homeowners as well as my signs on my properties and now they have my brochure which offers them the option of leasing their property for the next year or so and not reducing their sales price or leaving the property vacant and subject to mis-hap.
I picked up 10 properties last year and hope to double that # this year and EARLIER!!
Wallace S. Gibson, CPM * GIBSON MANAGEMENT GROUP, Ltd.
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"...to be a Virginian, either by Birth, Marriage, Adoption, or even on one's Mother's side, is an Introduction to any State in the Union, a Passport to any Foreign Country, and a Benediction from the Almighty God...." Anonymous
Wallace,
I have started doing the same thing. With so many houses not selling and being left empty, I thought it would be great to start marketing to homesellers early. I just began my campaign this week, so we'll see how it goes. I anticipate that it will go over very well.
Realtor.org had an article titile "Better to Rent vs Vacant Home." Now when I go on a listing appointment, I take along my property management information as well so that the homeowner can be thinking ahead about options if the house doesn't sell. Homesellers are very receptive to this approach and view it as full service.
Although there is plenty of marketing material available for real estate agents, I haven't found any for property management. Do you know of any online direct mail companies that have preprinted material for property management.
Charita - I print my 3-panel brochures on a laser printer on PaperDirect brochure paper....I print at I need them and do mailing labels to keep track of owners/listings I have marketed to previously. I reprint this in my brochure and explain my fees and services.
*REAL ESTATE * * Rent Now * * Sell Later * Local housing market stalled? Consider becoming a temporary landlord. By Pat Mertz Esswein *From Kiplinger's Personal Finance magazine, February 2007