Are Landlords Really Internet Marketers?

Question

I can't get this out of my head.

As I market my own short term rentals and help others market their, I'm starting to concluded that landlords are really online marketers.

We don't want a lot of churn, but if you're not proficient in the online market place, you might pay a hefty price in loss rent. The use of pictures and taglines are critical in both overlapping industries.

In fact, the ability to write a captivating headline may make the difference in filling your vacancy within a few days or losing a month's rent.

What do you think? Am I making too much of this comparison?

@Brandon Turner @Lucas Hall

Al Williamson · Answer

@Atwan Kwan please see above. I'll detail my actions in upcoming posts.

Al Williamson · Answer

Good stretch on your part @James DeRoest Yes, there are many side income streams, but there also are opportunities to deepen your biz relationship with your tenant via the Internet.

Now most landlords are not doing the entrepreneurial things I'm trying - so in a since, maybe I'm over generalizing.

I'm buying another rental. I'll document all the tactics I use to triple the NOI using internet marketing and other strategies. Please stay tuned for that.

James DeRoest · Answer

I don't see where there are extra opportunities than the one in front of me which is; renting a home.

Ok, so one of our units has a couple of garage spots that I could rent out, but I care not to as I'm going to use them anyway. But that's hardly a missed opportunity through internet marketing. I suppose I could get $75 a month each for them, but really, why bother?

You mention the bigger picture - for me it isn't the rental business, it's what I can leverage from that business into other things, which....maybe I'll be doing in the fall/winter. If I can find a service that I use, I can sell that to other landlords and pms. An example (which I'm not going to do), we bought a machine to clear roots from drains. Now - I could offer that to other landlords and leverage myself into a nice little plumbing business if i wanted - purely an example.

But again, this isn't internet marketing. So I'm really not sure what you're driving at.

Lucas Hall · Answer

@Al Williamson

I think we, as landlords, certainly need to use technology to broadcast our vacancies. The more proficient we are at internet marketing, the wider we cast a net for possible applicants. I believe it's important to have a beautiful website for each property, and to use a modern online listings and application tool to syndicate my available units.  I usually just relay on Cozy, Craigslist, and Zillow listings, but lately, I've gotten into facebook advertising and marketing to users in the city in which I have a vacancy. It's cheap and worth experimenting with.

I think we have to embrace it, otherwise, the property down the street will snag up your applicant.

Atwan Kwan · Answer

I think it's a little bit of both. Real Estate by nature is too local and will never be completely regulated by the net. Just like I would never buy a house solely on a zillow search.

I would think it's a small few deals if any that get done completely online from an "online lead page".

But definitely helps with exposure....

@Al Williamson interested to hear how you use taglines and what sort of internet marketing are you doing other than zillow/craigslist

Al Williamson · Answer

@James DeRoest interesting perspective but you're not allowing yourself to see the bigger picture.

Yep CL will help drive people into your sales funnel which leads them to a signed lease. No question... but is that all it can do for your rental?

If you're satisfied with stopping there - OK fine.

But if you get on the balcony and look at your situation, you might see some more opportunities to make more money with your rental.

James DeRoest · Answer

I think you are over thinking this.

What rents our homes is the quality of the home itself, not the advert. The advert just gets people in the door. Invariably, we get an application from anyone who views.

And the advert, not that we've done much recently, is simply a craigslist advert. Calling myself an "internet marketer" for placing an online ad is a bit like calling myself a print media expert because I called Autotrader to sell my car. If you take a competent photograph - does that make you a photographer? Nope, just means you take a good photograph.

Al Williamson · Answer

yes, generally speaking, we landlord types aren't embracing the new required skill very well.

Is this catching us off guard? Are we frowning on the fact that we are in sales?

David Dachtera · Answer

@Al Williamson,

I agree with Cody - the first place a lot of people look is on-line. Being there for them to find is, in my mind, a very strong positive.

My $0.02...

David J Dachtera

Cody Krecicki · Answer

I am in Internet marketing for a living and everything is Internet marketing.