The business of property management varies from state-to-state. A lot of property managers are well-versed in most of the different state laws, but eventually, they’re going to set their minds to one area.
In this article, we explore how best to grow property management company Colorado Springs firm to the best of your ability. If you want to be number one, all it takes is knowing how people work!
Consider pricing before anything else. This goes for property management firms across the country. Compare the different property management firms in your area (in this case, Colorado Springs), and see what it is they’re offering. Look at their pricing and then look at the ratings and testimonials about their company to see what it is they’re doing, and whether or not there are mentions that the pricing could be cheaper or that it was too steep for what they contributed.
The customer and client is always right because they’re the ones that are paying and they’re also the ones that will be the first to tell their friends about any bad experiences they’ve had much more than the good ones.
Branding, marketing, and even social media are all huge parts of running a successful business in 2017. You have to ask yourself who’s going to stand out more or who’s going to generate more leads: the property management firm with a badly done website or the firm with the website, twitter account, and physical flyers posted through doors to houses that have been targeted as being in the demographic of the kind of landlord slash client that you’re wanting.
Put simply, there’s a reason jingles still exist in this day and age, and while I’d never make the suggestion that you record a jingle or an infomercial, it is going to be extremely beneficial to take into consideration what will get your name out there and remembered.
Connect with your clients and landlords. Make sure they know that you can be trusted and work to build up that trust between yourselves. Trust is incredibly important and incredibly rare in the property management business. It’s almost as if a lot of PMs weren’t told that connections can be made.
Connections can generate leads as well as marketing can. Word of mouth can spread about your great your property management firm is because of you. If you listen to them, they’ll listen to you. There is no comparison to real trust.
Have a plan
There’s no benefit to any sort of business if you don’t have a business plan. This should be one of the first things that you worked out to do when starting your business. It should cover things such as accounts, book keeping, different ways of generating leads and marketing. It should be in depth enough so that you won’t run out of things to do in the middle of your first quarter and wonder where your money went. It pays to be prepared, and your clients will appreciate it too.
There’s only one you. There’s going to be a lot of property managers in your area, but there’s only one you. Even if you’re marketing in the same price range, have the same leads to your competitors, and may be feeling disheartened, you are your business, and property management can be as personal as any other business. It’s beneficial to put yourself into all of your sales and your connections. You want to be the go-to PM in your area.
All that’s stopping you is YOU.