here’s a good reason the movie industry makes you sit through 30 minutes of previews before the main attraction begins: premarketing works.
Even if a product isn’t available yet, there’s no harm in getting your audience excited about what’s to come. In fact, it’s a smart strategy — even in the real estate industry.
Many landlords assume they need to wait until properties are vacant before listing them. They think people browsing for rentals need a place to live right now, and if a home isn’t currently available, they won’t be interested.
Sure, some people wait until the last minute to find new accommodations, but I believe more people start looking a month or so ahead of time. Posting a “coming soon” listing is the perfect way to attract these potential tenants and line up a bunch of showings for when your property hits the market.
The Perks of Premarketing
Premarketing rentals gives landlords more leverage.
Instead of saying,“The home has been listed for 45 days, but I swear there’s nothing wrong with it. If I chop $50 off your rent, will you please move in?” landlords can say, “It’s not quite ready yet, but I’ve already scheduled a bunch of tours for next week. I’m happy to add you to the list, but you’ll need to act fast!”
During this window of a few weeks, you might field lots of inquires about your soon-to-be-vacant property. Because it isn’t available yet, prospective tenants might think you won’t be in desperation mode and bombard them with pushy sales speak. When our property management company premarkets a home, we typically line up at least 20 showings for the first two days, and almost always, one of those individuals becomes our tenant shortly thereafter.
As a longtime practitioner of and firm believer in premarketing, I’ve created three pivotal strategies that will help you maximize this tactic:
1. Virtual staging
When consumers are looking for something online — whether it’s true love, an impulse buy, or a place to live — pictures play a big role in their decision-making process. So choose wisely when putting together your premarketing slide show, and invest some time into taking great photos. Don’t post photos of your current tenant’s tacky furniture. A beige La-Z-Boy won’t do your living room justice. But don’t post pictures of an empty house, either. Unstaged homes take 73 percent longer to fill.
Consider hiring a virtual staging expert who can transform your empty home into a model residence featuring beautiful furniture, art, rugs, and other accessories. Virtual staging shows potential tenants what a home looks like when someone with an eye for style maximizes its potential, and that’s what you want people to see when you premarket your home.