My marketing budget is $0. What is yours?
In the article, 7 places to advertise your Listing we discuss all of the listing sources. Many of them cost money. As a young entrepreneur on a tight budget I have learned to “economize” every penny in my business to maximize returns. In my case this just means there is more “Education” money available for when a new learning curve needs to be met (so read all my articles to learn my mistakes, it’ll probably save you a lot of money).
I have tried all the methods listed in the article but the newspaper. I almost tried it but watched a family member have no success so I crossed it out. The only reason I listed it because I have noticed that many people stationed in San Diego at Coronado recommend the local newspaper. They mentioned tenants running ads to find landlords since housing is so scarce. This example is a reminder that each market is different so utilize what works best for your market. So take my “ideas” ,as always, with a grain of salt. This is based on my experience, and to date we haven’t operated everywhere, even though it often feels like it 🙂
My top 3 listing sources
- Sign in Front of the house– I have a general sign in front of the house and in front of the neighborhood. I usually just put my name and number. I haven’t had a lot of traction but I feel that it is important to go through the “Steps”. We have found one tenant in the past 12 months through the sign. The biggest problem with the sign is it brings a lot of “information inquiries” that could normally be weeded out through a sign (rental rate, availability, etc.). We make it as cheap as possible by leaving out vital information about the house.
- Craigslist- It is free and well known. We have had some luck. We reduce risks of scamming by only emailing people who seem to be viable candidates. While some might considered it to be rude-it has prevented a lot of issues.
- **Postlets- This is my absolute favorite and go to listing site. One listing is posted to 20+ credible listing sites including Zillow, Trulia and HotPads. I have had all but one occupancy come from these posts. They are easy and FREE. I also find not as much junk and most leads tend to follow through and be credible.
If I had to pick just one listing source I would use Postlets. I find that between the sites they advertise, including the big 3: Zillow, Trulia, and Hotpads that you reach 98% of potential applicants. While you only receive mostly qualified leads this allows you to be efficient and saving you money which will put you ahead since it is totally free 🙂
What has been your experience regarding marketing? Do you have a preference or method?0