Return on investment is, at the end of the day, the only thing that matters for passive income. The average ROI is 10.6% in the US on residential real estate, for reference.
Getting your ROI up starts with getting properties sold and occupied. A vacant or unsold property effectively turns your precious investment into a liability. What real estate marketing strategies can put you back in the black?
If you're looking to boost property sales, here are four strategies to apply to your real estate advertising in Orlando, FL.
1. Real Estate Marketing Is About Staging
Humans are visual creatures, so a prospective buyer's first look at a place shapes how they'll see it from then on out. It only takes us seven seconds to form a first impression of a person. It's probably not that far off from how long it takes to form an impression of a home.
The Key Is Staging
Make your property blow their socks off on the first walk-through. Home staging is everything, so take extra care with the presentation and the decor. A few extra minutes spent placing props and dusting off the blinds goes a long way.
2. List Everywhere You Can
Most people list properties for let or sale on whichever site appeared first in Google. Maybe they don't even bother putting up a sign or print out flyers. While you'll still get tons of hits, it's important to get the listing out on every platform and every classified possible.
Have Property Management Help
This is where property management can be a lifesaver. They know all the best places to list, and they'll do it for you. You'll save a lot of time, time you can put to better use for future investments.
3. Fix the Little Things
When prepping a home for sale, it's common to focus on fixing the big things. Replacing the tile, or tearing out the carpet for a better-looking weave. A shame, since you might be missing other important aspects like fixing the door knobs or filling paint cracks.
Small things have a cumulative effect. Taking an extra Saturday to polish and patch up will do wonders for your bottom line.
4. Work on Salesmanship
While it's the home you want to sell, people are going to base their purchase off of you. After all, they will have to correspond with you, sign the papers with you, and more. If they get a bad feeling, they may shy away.
Be Charismatic
Do everything that works in other sales contexts. Smile, be friendly, make small talk, you get the idea. It can be exhausting for the intorverts out there, but it always pays dividends.
Find More Successful Selling Tips at PMI
Real estate marketing is a tricky science, but some truths stand the test of time. Stage the home well and get the help of property management to spread the listing. Don't forget the little details, and be the best, most charismatic person you can be for prospective buyers.
PMI Prime Home in Orlando, FL, has 20 years of expert knowledge from helping Orlando investors achieve passive income. Our goal is your profitability, and we seek to realize your personal investment goals. See how much you can earn with our rental calculator here.
