In this blog I am going to explain you the basics of promoting real estate and how to earn money effectively combining real estate and your network. We will also have a look at social media and how this can improve the popularity of your property.
How to make a good deal
So first of all we need a property, before we can start promoting it. When buying a property there are some things you need to pay attention to very closely in order to make sure you are making a good, money making deal.
First thing to make sure, is that you buy a property somewhere in an area that is getting more popular. However, this is not a guaranteed succes, as the popularity of locations can change over time. Therefore, we need to look at quality of the property as well. Ask yourself questions like; in what state is the property? How old is the building? Why is the seller selling the property?
Cancun, Mexico
How to make money
After we have decided this property will work for us, we need to find a way to make money with it. We can either do this by refurbishing the house, and sell it for a higher price than the total costs of the house + the costs we put in refurbishing. We could rent out the property to either a consumer or a organisation.
Renting out to a consumer however, requires a total different technique than renting out to an organisation. Consumers buy for personal use, either as a vacation or to live in. An organisation rents your property to do business at. They could put their offices in one of your properties or use it as storage. Don't worry about that now, either way you will be making money.
With renting, you have the benefit that you can keep making money, without investing for new property. With platforms as Airbnb it is super easy to rent out rooms or even entire houses. You as the owner put your preferences in the advertisement on the website and consumers see your profile.
If they like it, they can order the room via the website or contact you personally. The costs you will have are cleaning costs and furniture that would need to be replaced, but also water and electricity.
Airbnb house, Advertisement
How to promote your property
It is important to promote your property, instead of waiting for someone to come across your property and be genuinely interested in it. This way, you can maximise your property and automate the process. Promoting is best done through the web. There are different ways of doing this.
The first method is social media, set up accounts on Facebook, Instagram, LinkedIn, Twitter etc. and start posting daily! Even if it just a picture of the office, it can already persuade people to rent form you! You just need to make sure that your property stays fresh in the memory of your target group.
Social media
To reach your target group you can use all kind of different tools, on Instagram the most powerful tool would be the hashtags. By adding these to your post, people from all over the world can find your post by just typing in the hashtag! On Facebook this would be the endless groups that you can advertise your property in. LinkedIn could help you reaching more professional real estate owners to work together with or learn from.
Another way of standing out to other property owners, is to have your own website, either for all your properties, or one for each and one website to combine them all. When you use these technique, you will look more professional to potential buyers and it is easier for them to get details of the property.
On these websites you could promote other websites or host advertisements.
Even though, both are good options, combining them is even better. Promote your website on social media and promote those on the website!