Video marketing your investment property
When it comes to advertising rental properties, I have been rather surprised at how poorly some properties are being presented and advertised. I’m not trying to be critical but I have seen some rental signs hanging by one nail, others were discoloured or tagged and illegible and a few signs did not even have a contact number or name. This leads me to think about the importance of how essential it is to prepare your investment property for advertising. I know it can be hard to get a measurable number on how many prospective tenants an owner could potentially lose just due to poor presentation and the initial image portrayed.
It has become critical now more than ever to get the first impression spot on. Of course, price plays a part, but the chances of getting that extra $10 or $20 per week by getting the advertising right can play a huge part. Roughly from what I see on TradeMe it would appear only a third of all properties advertised look like they have professional photos. So, as investors should we start investing in getting the best photos for marketing? Of course, we should, why wouldn’t we!? After all, avoiding downtime is what we all want!
Our office has been looking very closely at video advertising as an option, would this be something as an investor you would consider? A video is going to enhance the property and showcase it at it’s very best time of day, reaching a much larger audience. This is because, potential tenants are able to independently view the property in their own time at any time of the day, they are able to share the video and it opens the property out to those who live out of town or who have difficulty getting time off to view a property. The increased exposure is partly down to the fact that it is convenient for potential tenants. Imagine sitting on your couch in your jammies while at the same time viewing your potential new home, an open home anytime, anywhere in the world. People are able to view a property where they are most comfortable, it gives them the feeling of moving through the home and helps to visualise living there. It even has the added bonus to help if the property is still tenanted.
According to recent statistics, a property with video presentation receives 403% more enquiries than properties with just images. What is important to remember is that good marketing gets your property rented sooner. For every week your property is vacant it is costing you 2% of your annual income. So while I am not saying you need to use video or professional photos, it can be a another platform and the reality is the strategy on how we offer properties to the market is changing. Note tenant selection has not changed but how we get out to the wider market has.
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