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Holding a Successful Open House

February 1st, 2012

open house tips Novice property investors looking to hold their first open house could need some guidance, as they’ll want to make sure everything goes smoothly to pique the interest of potential renters.

When prospective tenants come to an open house, have a sign-in sheet waiting. Besides getting their contact information, this can be good for security purposes, a concern when allowing strangers through a property.

Rental managers may want to give guided tours of their properties to make sure that visitors see the highlights and advantages. Discuss good lighting, views and other benefits. If there are neighborhood attractions nearby, consider giving the visitor some background on them.

These steps may help attract and appeal to guests:

Advertise the open house online and with signs, preferably placed at nearby intersections with significant traffic.
Consider holding the open house at a time when others will not be open so more visitors can make it.
Print fliers with contact information, the date, time and address of the open house, and distribute them locally.
Have rental applications and information ready, so that eager prospects can apply on the spot if they want to.
Make sure the property is tidy inside and outside.
Check lighting fixtures and replace any that are not bright, so visitors can see clearly. Also, let light in through the windows.
Keep parking open so that visitors don’t have to walk far.

Open houses can be an efficient way ?for landlords to meet, and show a property to, potential tenants. Meanwhile, having visible competition sometimes pushes potential tenants to apply more quickly.

6 Property Management Companies Using the iPhone QR Code Feature

February 23rd, 2011

Bar codes are a staple of life around the world. Now a new kind of scannable code, already a very big deal in Japan, is catching on, too.

The QR (Quick Response) Code is a two dimensional assemblage of shapes and spaces that stores up to 4,296 alphanumeric or 7,089 numeric characters. Printed on everything from business cards to “for lease” signs, QR codes can be decoded quickly (hence the name) by a number of different apps running on the iPhone platform.

QR codes can be used by realtors or property management companies to share information with potential customers, to add a vCard contact to a smartphone or other device, or to open and compose an email message to the company on the user’s phone.

Android apps on other phones can do this, too, but with the overwhelming popularity of Apple’s iPhone, property management firms are jumping on this particular bandwagon in big numbers. Here are six property and real estate companies using the iPhone QR Code feature.

1. ERA WILDER REALTY

WHERE THEY ARE: Seven offices in South Carolina

WHAT THEY’RE DOING: Making the QR Code part of the brand image

Photo source: common.ziffdavisinternet.com

The arrows and the yellow highlights
indicate lines and shapes used for alignment.

To increase acceptance and use of the QR Codes, ERA Wilder Realty in South Carolina is doing more than just dropping encoded listing information on signage for office leases or property sales. Management recommends that property managers and sales agents make the QR Code ubiquitous by placing it on business cards, flyers and brochures, and even the windows of their cars. Educating the public is an important part of any campaign using a new technology.

2. COLLIERS McCLOCKLIN

WHERE THEY ARE: Cities of Saskatoon and Regina in Saskatchewan, Canada

WHAT THEY’RE DOING: Building relationships with interactivity

Photo source: artanddesign.careeredublogs.com

After a slow start, Canadians are warming up to QR Codes, too.

In mid-December 2010, Colliers McClocklin became the first commercial real estate firm in Canada to add QR Codes to all of their signage, city-wide. The firm’s president, Tom McClocklin, sees the functionality as being critical to the continuing empowerment of his firm’s customers. Marketing professionals know that drawing consumers into “the process” by use of interactive technologies is a powerful relationship builder, and relationships are at the core of a successful property management firm. The passive consumer is becoming extinct.

3. CLARK REALTY CORPORATION

WHERE THEY ARE: Six offices on the Big Island of Hawaii

WHAT THEY’RE DOING: Leaving wet flyers and bad weather behind

Photo souce: clarkhawaii.com

Info on prime Hawaiian properties can be continuously updated.

Clark Realty Corporation is the largest full-service real estate firm on Hawaii’s Big Island. Over 150 agents, full-time property managers, and office staff handle all facets of real estate from sales to building/property management. Enlightened owners realize that QR Codes are another way for the firm to excel at serving its customers.

With QR functionality on employee iPhones (and a few BlackBerrys, truth be told), sudden rains or inclement weather will not result in soggy brochures or lost opportunities. The firm’s company-wide success depends on overcoming every adversity to serve its clients –and QR Codes are a big part of that.

4. THE HALSTEAD PROPERTY COMPANY

WHERE THEY ARE: Eighteen offices in New York, New Jersey, and Connecticut

WHAT THEY’RE DOING: Customizing the Code and putting it everywhere

Photo source: halstead.com

Don’t fall for that insurance scam, folks!

With headquarters at 770 Lexington Avenue, Halstead Property has 18 offices in New York, New Jersey and Connecticut and a staff of nearly 900 agents and property managers. In late 2010, Halstead Property debuted its customized QR Code technology called “H-Tags,” which are placed on sell sheets, postcards, flyers, every new listing, and even some display ads.

Photo source: halstead.com

Using QR Codes is another way of leveraging social media.

The H-Tags are also placed on every listing that is displayed in a Halstead office window, encouraging passersby to investigate properties that catch their eye. All relevant information, continuously updated and always “fresh,” is delivered to the potential customer’s mobile phone. The company website provides links for the iPhone apps, once again saving consumers time.

5. COLDWELL BANKER RESIDENTIAL BROKERAGE

WHERE THEY ARE: Twelve offices in Utah

WHAT THEY’RE DOING: Continuing the transition to mobile devices

Photo source: utahhomes.com

Coldwell Banker Residential Brokerage introduced QR Codes in Utah because the region ranks very high in tech-savviness and the iPhone is ridiculously popular. The company is rolling out the high-tech squares in home magazines, newspaper ads, and other marketing materials. Further, the firm will work with its nearly 800 agents and property professionals to encourage the Code’s use on postcards, flyers and “for sale” signs.

Scan the code and get directions to the property!

Coldwell Banker Residential Brokerage has long been a leader in deploying new mobile technologies, and in 2008 was the first full-service national brand to optimize Web pages for all mobile devices. By the beginning of 2009, listings in 28 countries were available at the company site for viewing on the iPhone and other devices. Over 200,000 people have viewed Coldwell Banker listings on their mobile devices.

6. PHOENIX REAL ESTATE GUY

WHERE HE IS: Phoenix, Arizona

WHAT HE’S DOING: Figuring out the very best use

Photo source: phoenixrealestateguy.com

It’s okay to poke a little fun.

His name is Jay Thompson. He is an agent and property manager, and writes about real estate marketing ? especially all the “latest and greatest” things that positively resonate with buzz and hype. He thinks the QR Code hype has hit “epic proportions,” as if it were the “saving grace for all things real estate.” While he understands why they are on business cards, flyers, and “for sale” signs, QR Codes have also turned up on Web pages, which Thompson notes “makes zero sense.”

Thompson agrees QR Codes are “amazing little pieces of technology,” but is wary of the “hysteria” that calls QR Code the “second coming of blogging, Twitter, and Facebook.” He sees the hype as deceptive, as if the technology makes property managers and agents rich “with no effort or work involved on their part.” Obviously, he does not speak for the industry, as adoption rates are increasing.

BOTTOM LINE

There is always a little hype, and a bit of smoke and mirrors, when any new technology arrives to offer new ways of doing things. Because the QR Codes are simple to create and distribute, there has certainly been a lot of them turning up, but this is normal with the advent of leading edge technologies. People are trying whatever they can think of, and that’s a good thing, actually, Thompson’s naysaying notwithstanding.

Every property management and real estate firm should be thinking about how this new technology can be integrated into existing strategies or connected to new ones just being created. Don’t get caught up in any hype, and don’t rely on any single thing, including QR Codes, to revolutionize your business just by “being there.” It will always take a lot of work to succeed, and QR Codes and iPhone apps are only tools in the process. Learn and adapt!

How to Plan Your Vacation Home Selling Strategy

June 2nd, 2010

photo credit: Diego_3336

Locate a Realtor: If you don’t live in the state of your vacation home, you’ll need to research who might be a good fit for listing your vacation house. If you already have a realtor in your current state, ask him or her for a referral. Your realtor will get a referral percentage and you’ll be able to trust the person you’re working with. Interview the realtor you’ve chosen to make sure you have the goals during the listing of your home.

Determine the Price: With your new realtor, sit down and determine what listing price you’re both comfortable with. You should also be on the same page about when to drop the price of your home if it doesn’t sell after a while. Know the bottom price that you will be able to take in order to sell. Knowing your limits ahead of time will help you decide on what offers you will be abel to look at seriously.

Staging: If your home is furnished, make sure it’s arranged in a non-cluttered way and is most appealing to the eye. Place decorative, fresh flowers for ambiance and if any updates need to be done, complete those before listing the property. Remember that the best odds for selling your home quickly is when it’s staged correctly and updated as much as possible.

Time of Year: If you live in a beach home in Florida or California, people typically house-hunt year around. In places like Colorado or other cooler places, the peak time for house hunting is April and May with sales remaining strong June and July. Families are looking to move when it’s warm and between school terms. Other local factors, such as lay-offs, can be a factor in how quickly you sell you vacation home.

In planning your vacation home selling strategy, remember that it’s important for you and your realtor to agree. Your realtor will have your best interest at heart, so try to listen to her advice and weigh all of your options before making a decision.

10 Things to Remember When Looking at New Apartment

April 28th, 2010

So you’re moving into a new apartment. Congratulations! By doing this you are opening up a new chapter in your life, and many new memories are going to be created there. But don’t get too hasty when looking at the market. Below are ten things you should keep in mind as you explore your options.

1. Do you have any pets? If you do, make sure you are aware of the apartment building’s policy on animals. Some will allow one dog and one cat, some may have a limit on how much they can weigh, and some will not allow them at all.

2. Can you park your car? How safe is it? This is especially crucial in the city, so make sure to check.

3. Find out if there is an insect or rodent problem. Ask the present tenants if possible, or the landlord for information.

4. Take into consideration the safety of the area and building. You should never live where you feel vulnerable.

5. Make sure that you would have a reliable landlord. Can you reach them if you need them? How are they with fixing problems in a prompt manner? Do they make you uncomfortable?

6. Research to see if there are any schools in the area if you have or plan to have children.

7. Realize how far away you would be from your job or recreation areas such as restaurants and shops.

8. Do you need to have an in unit washer and dryer? Check to see that you wouldn’t have to use a shared laundry room or resort to a dry cleaner.

9. Do you plan on having guests over frequently? Look for a place that they could all fit in and sleep in comfortably if need be.

10. Be aware of what floor you might be on, and keep in mind certain inconveniences that would result.

Creating the Best Website for your Property

February 11th, 2010

Having a website today is almost a requirement, but having the wrong website can actually hurt your business. Create a website that attracts renters and presents your property in the most positive light by using the following guidelines.

Photos

Take photos of the property that show it in the best light possible. If you’re having a hard time getting photos that look good, hire a professional photographer. It will be worth the expense.

Text

Be informative and descriptive in your text but only describe the property, not your ideal tenant. Your job is to sell the property, not weed out tenants on the website.

Online Convenience

Add some modern conveniences to your website such as online applications, links to neighborhood businesses, schools, bus lines and anything else a tenant may want, online bill payment options, and direct contact to you and/or your maintenance crew.

Current and New

Don’t just think about potential residents, but consider your current tenants as well. Divide the site into areas of convenience and information for both.

Be Diligent

Stay on top of your website and respond to all inquiries in a timely fashion. You don’t want to put off potential tenants and you can’t afford to ignore established ones. You should also post new text and/or photos whenever applicable. Don’t list info on specific units as you’ll create too much work trying to keep up with them, but do provide information on major renovations or upgrades.

photo credit:?tomeppy

How to Prepare your Home for Sale

November 5th, 2009

Preparing and staging a home for sale is an important part of the whole process and shouldn?t be skipped if you?re looking to make a quick sale and get the most money for your property. Use the following tips to make sure your home is ready to go on the market.

Clean

This can?t be stressed strongly enough. If you?re not into cleaning your own house before the sale then hire a professional, in fact it might be worth the money to hire one anyway as they will notice areas you routinely overlook. But no matter who does it, a top to bottom thorough cleaning is a necessity.

Remove your Personality

Most people can?t imagine themselves in someone else?s home, the key is to make your home look like their new home, not your old one. Take your personal items and photographs down, remove your collections, and let go of the home emotionally. As a side note, be sure to remove anything of value before your home is open to the public for other reasons.?

Strip the Room

Take as much as you can out of each room. This means take out all unnecessary furniture pieces and accessories. Less furniture will make the room look larger and more appealing to prospective buyers. Really skilled stagers will be able to bring in just the right amount of accessories to make the home look like an interior decorating magazine, attractive but depersonalized.

photo credit:?army.arch

Ways to Advertise your Property

October 28th, 2009

To attract tenants to your vacant rental units you?re going to need to let them know that you have rental units available. The only real way to let people know you?ve got space for rent is by advertising, but there are a number of different ways to advertise.

Yard Sign

The yard sign is still one of the most popular and useful ways to advertise your property has a vacancy. People see these signs when they drive by and tenants see the signs and inform their friends. It?s simple and effective and one of the best ways to advertise.

Print Ads

Whether you?re going to advertise in the newspaper, an apartment booklet or a penny saver, or you?re going to do all three, print advertising is a great way to draw attention to your property, list the highlights and basics, and add a picture.

Word of Mouth

Word of mouth advertising is one of the most effective ways to ?get the word out?. If you?ve got tenants you like, let them know you have a vacancy, they may have friends who need a place. Mention your opening to your friends, to professional acquaintances, to neighbors, tell everyone that you?re looking to rent one of your units.

Internet

More and more people are starting the home buying and renting process online in the comfort of their own homes. This is an excellent tool for really detailing your property highlights and adding several photos. Don?t be afraid of the technology, dive in and you?ll be amazed at the return.

Create Good Rental Listings

October 2nd, 2009

The first step in successful property management is getting tenants interested in your property. Good rental listings are an essential part of bringing tenants in to your property. Create good rental listings by using the following tips.

Grab their Attention

Much like writing a newspaper headline, rental listings should reach out and grab the reader?s attention. Be creative and come up with a headline that would even catch the eye of someone who?s not looking to move.

Create a Visual Impression

Use descriptive words really bring the highlights of your property to life. Pump up the good points and use effective wording to seal the deal.

Provide a Visual Impression

Don?t rely on your words alone, add photos to your rental listing to get the biggest impact and to really show off the property.

Note the Neighborhood

Find something about the neighborhood to brag about. If your rentals are in a great neighborhood then let the reader know you?re located in the coveted or prestigious neighborhood X. Or advertise the close bus route which may be helpful for students, whatever appeals to your typical renter.

Remember the Basics

Don?t forget to list the basics, how many bedrooms, the rent, parking, your rules on pets, hours for the showings, lease length, your website and contact information. Include those things that most people want to know right off the bat, this will help draw the right people to you and will avoid some wasted time on phone queries.

?If you create a good rental listing that really does your property justice you?ll attract the right type of renter and you?ll be much happier in the long run.

Host a Successful Open House

June 12th, 2009

The purpose of an open house is to get as many people into your home as possible and then come up with a buyer. So to have a successful open house you need both elements.

Advertise?

To accomplish the first element you’re going to have to advertise to draw a crowd. Take out an ad in your local paper and any real estate flyers you may have in the area. Purchase some signs to place in your yard and on any adjacent busy streets. Then flood the internet with advertising about your open house.

Set the Stage?

It should go without saying that your home should be spotless but unfortunately many people miss this and they ignore messes they’ve just gotten used to. Have a friend that will be honest with you come through and look for messes and smells that may be offensive. You should also remove all personal touches so that visitors can picture themselves in the home.

Play the Host?

Set out some refreshments for your guests. Many realtors recommend baking cookies because the smell is homey to people. So why not give them the comfort food rather than simply treating it as an air freshener. You can also set out small bottles of water and little candies to make it more of an experience for prospective buyers.

Provide Information

Create glossy and full color handouts for the visitors. Include all the pertinent information that people may be looking to compare in the future and add some beautiful pictures so they remember how wonderful your home is.