Monday, 09 December 2019
Agent Resource Center
Agent Resource Center

How Small Real Estate Businesses Can Compete With Big Housing Corporations

Written by Posted On Monday, 02 December 2019 14:49

It's always difficult to compete with a bigger business. No matter how good the housing market might be at any given moment, it's still tough for a small real estate business to compete against any larger competitor. While you might not be able to match the other company in terms of volume, you can make up for it by trying the following methods to stay competitive.

Offer Competitive Pricing

Perhaps the best way to take a chunk of business away from the bigger firms is to offer competitive pricing. This might mean reducing your profits a bit, but lowering your rents overall will allow you to entice customers to look at your properties. If you aren't in a position to lower your rents, try to lower the other fees that associated with your properties. Covering trash or parking or even reducing your application fees can make your properties more attractive.

Allow Pets

It can be tough to find a place to live when you have pets. If you are willing to allow pets in your properties, you'll bring in a huge number of potential renters. While pets can definitely cause damage, you can attach a pet fee to your leasing contracts in order to recoup some of the related costs. Allowing pets in your properties gives you access to a huge base of clients that your competition refuses to serve.

Market Well

You might be amazed at the impact that some simple real estate marketing can have on your business. If you can work with a good marketing firm, you'll increase the profile of your company and start to pull away renters from the big companies. A good marketing firm will help to play up your strengths and transform your image in the eyes of the public.

Offer Professional Perks

Finally, you might want to start looking at the little things that can make your rental units more attractive. Offer valet garbage service, ensure that you have great professional snow removal services, and think about hiring professional cleaners to keep the properties looking great. These perks won't impact your bottom line much, but they will absolutely change the character of your properties - and they'll attract new renters at the same time.

While you may never really beat the big companies, you can easily survive alongside them. Try to find the customers that your competition doesn't serve and make sure you market directly to them. If you can find the right niche, you don't have to worry quite as much about going toe to toe with the bigger companies.

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Anica Oaks

Anica is a professional content and copywriter who graduated from the University of San Francisco. She loves dogs, the ocean, and anything outdoor-related. She was raised in a big family, so she's used to putting things to a vote. Also, cartwheels are her specialty. You can connect with Anica here.
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