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When it comes to building a business in the world of real estate investing, there are plenty of ways to get started. Notably, starting a property management company is a great way to become immersed in the industry without necessarily buying property straight away.
So, how can you build a clientele and connect with investors in order to kickstart your business?
The first thing you need to do is find one investor who is willing to get started with you. Ideally, if you have some property management experience prior to starting your own company or career as an independent manager it will not be hard to find your first client because you will likely have encountered potential clients in your early experience.
After that, it is time to start scaling your business.
But first, if you are interested in investing in property on top of property management, or are looking to start a property management company for your own investments, click the link below for a free strategy call to discuss investment financing today.
Build Industry Connections For Your Property Management Company
One of the main things you can do in order to start scaling your property management company is to make industry connections in order to gain access to investors and their portfolios. After all, when investors are looking for more real estate professionals to work with, they are usually going to trust referrals from professionals they already know.
Realtors are an excellent connection to prioritise when you are connecting with other industry professionals. Since they are right beside the investor as they buy each of their properties, they frequently will be the one of the first people to hear that an investor needs to begin looking at new property management solutions.
So, by networking and building reliable connections with realtors and their brokerages, you can increase your odds of receiving their referrals – especially if you send them business back through your existing clients.
Contractors and Maintenance Workers
As a property manager, you will spend a lot of time working with contractors and maintenance workers. This means that you will have plenty of opportunities to build a reliable working relationship with them.
Since contractors work with a wide array of property owners and investors, they are capable of getting a pretty clear idea of which investors are overbooked and need a property manager to help shrink their individual load.
Mortgage agents work in a very similar position to realtors when it comes to picking up commissions. Since mortgage agents and investors often build strong working relationships together, they are often amongst the first people to get asked for referrals.
Discover Residential Property Management With This Step By Step Guide
Build Your Online Presence
Another major thing you need to do in order to attract new clients is to build your online presence. In order to increase your digital footprint, there are a few key areas you need to build up.
Create an Up-To-Date Website
Creating a professional and up-to-date website for your property management company is important for creating a strong online presence for your property management company.
This website should include a sleek design, high-quality photos, and detailed explanations of your services. As well, you need to ensure that all of the copy on the website is properly SEO optimized so that your website ranks higher on Google and other search engines.
Maintain a Social Media Presence
Beyond your website, you should also keep an active social media page for your property management company so that people can see you are constantly working. One of the biggest mistakes you can make when it comes to building a digital footprint is having an inactive page.
Inactivity on social media gives the impression that you may not still be in business. This can potentially cost you clients in the long run.
Instead of leaving these pages inactive, try to post a minimum of one post per week that is related to your property management company. These should be professional, but eye catching so that you can remain composure while also looking more personable and less corporate.
Use Targeted Ads
Once you have built an online identity for your property management company, it is important that you do whatever you can to get your content viewed by the right people. So, this where targeted advertising comes into play.
Take a portion of your operating budget and set it aside for advertising, but not just random promotions. Instead, focus on creating refined and targeted ads for social media and online through platforms such as Google Ads, that way you are not wasting money on uninterested eyes.
Leverage Your Existing Clients
Another way you can expand your network and clientele for your property management company is by leveraging connections made by your current clients.
If you are working with well-connected investors, they will likely know other real estate investors simply through their own business. Ideally, if you are doing a good enough job, your clients should be comfortable recommending your services to their fellow investors due to your proven track record of delivering good work.
Attend Networking Events
Another great way to meet investors and expand the client base of your property management company is to attend networking events. The investors and professionals who attend these gatherings are almost always going with the intention to expand their network and make new connections to benefit their business. So, by actively participating with these events and the community, you are more likely to find new opportunities.
Connect With Us
At LendCity, we pride ourselves on building a strong network of investors, lenders, and real estate professionals so that we can promise our clients the best service every single time – and we want you to join us.
If you are getting ready to dive into your own investments or simply want to join our network, give us a call at 519-960-0370 or visit us online at LendCity.ca. Alternatively, click the link below to book a free strategy call today.