Strategies for Generating Property Management Leads
By Stephen Fox
Generating leads is the key to growing a property management company. However, generating quality leads is not always easy. To acquire new leads, you need to have a promotional plan to get your property management services in front of the right property owners.
If you plan your lead generation strategies carefully, your services will dominate the local market. In this article, we'll cover ten simple strategies that will help you generate more leads. We cover lead generation strategies for those just starting in property management as well as for established companies.
5 Lead Generation Strategies for Beginners
Strategy 1: Get Referrals from Realtors
The sooner you establish a network of professional relationships with local real-tors, the faster you'll acquire new client leads. If you want to expand your realtor network, focus on building a valuable presence within your local community. You can do this by:
- Joining local organizations, such as nonprofit boards, or local networking groups.
- Attending conferences and industry events in the area. This will help you create and maintain your relationships with others in your local industry and also provide you with new ideas and strategies to implement in your business.
- Connecting on social media. Use several different platforms to interact with other users, share good press, and promote your properties. Make yourself easy to contact through these platforms!
Once you have established some professional relationships with realtors in your local area, consider offering them a referral fee for every client they refer to you. This is a win for both them and you!
Strategy 2: Incentivize Friends and Family for Referrals
Lead generation is difficult when you're working on your own, especially if you don't have an extensive network of contacts. You can make this process easier by incentivizing your friends and family to help.
Ask friends and family to spread the word about your business through social media and word of mouth. Many people trust recommendations from family and friends more than any other form of marketing.
You can offer your friends and family a referral fee for every qualified lead they provide. Getting the word about your services out to as many people as possible will determine your success in generating leads.
Strategy 3: Attend Local Real Estate Investor Meetups
Networking with local real estate investors in your local community will increase your chance of building quality leads. When you form relationships with investors directly, you increase your chances of finding success in turning them into a lead.
At these events, you may also be able to develop relationships with other real estate professionals, including local contractors, lenders, and real estate agents. These people may all be able to help you in generating more leads for your company.
Strategy 4: Cold call FRBO leads from craigslist
A simple and effective way to get leads is by cold-calling property owners who list their rentals on Craigslist. Targeting the property owners you want to work with directly will help you make the best use of your time spent generating leads. Before you begin cold-calling, ensure you have a script prepared to inform the property owner about all of the services, you offer.
Strategy 5: Contact established property management companies
If you are just starting in the industry, try reaching out to property management companies already established in your area. Find out if there are any properties they've recently turned away and try to generate leads from the properties they chose not to manage. Give them a good reason to provide you with this information by forming a referral partnership with them. This will benefit you both in the long run!
5 Lead Generation Strategies for Established Companies
Strategy 1: Run Google Ads
Using paid advertising is both highly targetable and highly effective. It gives you the ability to track and re-market so that you can increase your chances of generating leads.
To ensure your ads are as effective as possible, use them to capture your prospective customers' pain points. For example, include questions such as "are you tired of dealing with vacancies and missed or late rent payments?" Or, "are you looking to hire a professional property management company to maximize your rental income?"
Another tip to make your ads more effective would be to incorporate a Free Rent-al Analysis offer with your ads. You can use Rentometer's 'Free Rental Analysis' widget to accomplish this!
Be sure to track the leads you receive from Google Ads to understand your conversion rate.
Strategy 2: Optimize your site for search
When compared to paid advertising, organic marketing methods like SEO are usually more effective in the long-term. They help improve your website's search engine rankings, generate quality leads organically, and increase your property management website's overall awareness.
That being said, getting your website pages to rank highly on search engines like Google will take time, patience, and trust. You'll need to consistently produce high-quality content for your property management blog, build links to your website, and have a detailed About Us page (here's a great example). However, as an established business, your chances of reaching those ranks are better than those just starting in property management.
Strategy 3: Start a podcast
Podcasts are popular, and starting your own can benefit your business in a variety of ways. A podcast can help you drive more traffic to your website, and help you reach an audience in a different realm of content creation.
Besides hosting your podcast episodes, you'll want to look for opportunities to get interviewed on other podcasts. When people view you as an expert in the field, they will trust you more. This will increase your chances of attracting leads to your property management company.
Strategy 4: Start a YouTube channel
YouTube, the second-largest search engine behind Google, is an incredibly powerful place to generate quality leads. If you don't have one already, here are the steps you should take to create a channel for your business:
- Create a channel trailer and upload it to your channel.
- Use channel keyword tags under advanced settings.
- Fill out the About Us page.
- Design a compelling home page.
- Start uploading videos that highlight your property management services.
- Run ads.
As with any other social media platform, consistency is key to finding success on YouTube! If you're looking for some inspiration, here's a great Youtube channel by a local property management company.
Strategy 5: Use a direct mailing
Mail advertising is also another great way to generate leads for your property management company. Try using various promotional materials such as catalogs, postcards, and brochures, and see which has the best lead generation rate amongst your targeted prospects.
To successfully grow a property management company, you need quality leads. Follow the tips above to expand your network and grow your company. Whether you are an established property manager or just starting, these ten tips will put you on the right track to acquiring more leads.
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