There are various ways to get the word out on your property. We list the main ones here.
So, you have a property for sale or to be rented out and you have never done this before. How does one get started on the process? It can be quite a head-scratcher and balancing between avenues that cost nothing and those that cost more can be tricky when you are not familiar with the process. While most people would tell you to just engage an agent (no. 3 below) because it is the simplest, there are other avenues you can access to get the word out on your property.
Below we’ve listed some other avenues you can explore if you are looking to get your property sold or rented out.
Putting a sign up
No, we are not talking about those yellow neon cardboard ones that seem to be sprouting like mushrooms on street-light poles. Those are illegal so don’t do that. If you have a landed property, it is perfectly within your rights to hang a sign up on your gate advertising that your property is for rent or sale. Yes, this is as old school as it gets but it can get the job done.
Word of mouth
If you are particular about references and backgrounds of tenants before you rent or sell a property to someone, then word of mouth may just be the way to go. The success rate for this method is normally low because you are basically accessing a relatively limited resource pool. That saying, it doesn’t cost anything and takes little effort so why not give it a go?
Engage an agent
This is probably the most common thing that someone would do when they need to get the word out on their property. Engaging an agent is the simplest and probably fastest way to get results. The agents can use their resources and access various platforms to get the word out on your property. They can also arrange the viewing logistics on your behalf and arrange for the agreement to be drawn up for rental agreements. That said, this method will of course cost you. Agent fees for property sales will cost about 3% of the sales price and for rental properties, it will normally cost you a month’s rental fees.
Apartment or condo bulletin board
The effectiveness of this method depends largely on just how visible and viewed your apartment/condo bulletin board is. If it is a good source of information for what is happening in your development, then it could be a good avenue to tap into. It also doesn’t cost anything and if there are fellow residents who are looking for another unit in the area for a family member then this may be where they would check if there are any units available. This allows you to cut out agent fees and make it potentially a more profitable transaction.
Public bulletin boards
Yes, the ones in convenience or grocery stores. Functions very much like an apartment/condo bulletin board except that you get to access a larger pool of traffic. That said, it also means you are competing in a larger pool and may struggle to be noticed by potential tenants. These boards are also more effective if you are looking to rent out a room. People who are looking to rent or purchase a property are unlikely to access a public bulletin board for leads.
Put it up on social media
A picture does paint a thousand words as the cliché goes. Putting your property up on social media platforms such as Facebook and Instagram, is another way to get the word out on your property. While the pool of resources may be as limited as word of mouth, this channel allows you to insert pictures of your property online which may increase interest in your property. On top of that, online platforms just make it easier for your friends to share the post out to their own friends as well.
List your property on an online property site
This is probably one of the most effective ways to get the word out on your property and to get prospective buyers or renters to your door step. This is because these days, whenever someone is looking to purchase or rent a property, their first stop to check what’s available out there is usually through an online property site like iProperty. If you engage agents, this may be one of the channels they utilise as well. If you prefer to cut out the middle man and list it on your own, you can as well. Go here if you are interested to list your property on iProperty today.
The advent of the internet and social media has given home owners a variety of options both online and offline to sell or rent out their property. Gone are the days when it felt almost impossible to do it on your own. These days you can either try and do the process on your own or engage an agent to do it for you if you don’t have the time. Some of these options may not even cost anything so there is no harm in giving them a go yourself if you are not in a hurry.