DON’T LOWER YOUR RENTS.
Shocking to hear from your broker who’s trying to rent your apartments, right?
Truth is, for most brokerage companies, this is the default answer when a unit isn’t renting. Problem is that most of the time it just isn’t the reason why the unit isn’t moving.
I will preface this by saying there are indeed times when you need to adjust pricing. There’s no denying that. However, our suggestion is that IF the agency you’re working with is asking you to do this, it’s time to hold them accountable for how the unit is being represented on the market by them first.
Have a look at the pictures. There’s simply no excuse for bad pictures in an age where even your phone can take professional-like photos. At Kingston REM, we use a Canon DSLR equipped with an 18mm wide lens camera for apartment pics for our exclusive clients. We go a step beyond to ensure your unit looks as good as it possibly can.
Let’s go further and check the ads. Do they do the unit justice? Is it descriptive? Would YOU rent this unit? A well crafted & worded ad can make all the difference. If there’s nothing there, it’s like fishing without hook. The bait (picture) sometimes just isn’t enough to reel them in.
Here, take a look at the difference.
Speaking of ads, where are these ads posted? Do you know that within only a couple of hours, a craigslist ad for your apartment is already waaay off page one and will likely NOT be seen by your average apartment browser? Is the address correct on your Zillow ad? Apartments.com? There are literally hundreds of sites to where your apartment can be advertised and a savvy brokerage knows how to get these units to these venues efficiently and immediately.
Is there a call to action on the ad? An easy way for the agent/brokerage to be contacted? What are the prospective tenants to do when they like what they see and read but can’t reach anyone?
Lastly, and this is the LEAST POPULAR in the brokerage community among the rental offices- Is your unit on MLS? If your unit is within 30 days of being vacant and your brokerage partner isn’t posting it on MLS they are simply not looking out for your best interests. At Kingston REM, we were very proactive this year by posting units on MLS early and often to ensure maximum exposure to the brokerage community and public. This is a commitment you deserve when dealing with your brokerage partner.
We were given the responsibility by dozens of exclusive rental clients this year representing hundreds of units. We had every single one filled before they went vacant.
See, here’s where we’re different. We understand that in today’s age of real estate, one must be more active and responsible when handling their clients investments. There is more inventory than ever in the Boston area and the supply and demand balance has been tipped in favor of the customer. Your broker needs to work harder and smarter than ever in order for your apartment to be occupied with a qualified tenant and ON TIME.
We recognize this and are very passionate about our work. It’s evident by our ALL 5 STAR REVIEWS across Facebook, Google and Yelp. Have a look for yourself and when you’re done, contact us and let us go to work for you!