As a landlord, selling or leasing your rental property is a significant decision, and choosing the right real estate agent is crucial to ensuring a successful outcome.
In 2024, the real estate market is more competitive than ever, with evolving trends that require a savvy, up-to-date approach. To maximize your property’s value and avoid costly mistakes, it’s important to know which types of agents to steer clear of.
Here are the top 5 mistakes landlords should avoid when hiring a real estate agent for their rental property in 2024.
1. Falling for the “SOLD IN 6 DAYS” Hype
You might receive a postcard boasting about a home sold in record time, often just a few days. While this may sound appealing, it’s essential to dig deeper. The truth is, quick sales can sometimes mean your property wasn’t exposed to enough buyers, potentially leaving money on the table.
In 2024, effective real estate marketing is all about maximum exposure. The first two weeks on the market are crucial, accounting for about 85% of your property’s visibility. Rushing to close a deal in less than a week might mean the agent didn’t utilize the full range of marketing tools available, such as virtual tours and social media advertising.
Avoid real estate agents who prioritize speed over securing the best possible price for your property.
2. Choosing a Generic “Blending-Right-In” Agent
In today’s digital age, presentation is everything. If an agent’s marketing materials—whether flyers, open house signs, or online listings—are generic and uninspired, it’s a sign they may not be fully invested in selling your property.
Unique property marketing is essential in 2024. Your rental property has distinct features that should be highlighted with professional, customized marketing strategies. A great real estate agent will recognize this and tailor their approach to ensure your property stands out in a crowded market.
Look for agents who offer personalized marketing plans that showcase your property’s unique selling points, attracting the right buyers or tenants.
3. Working with an Outdated “AwesomeAgent1@Email.com” Agent
In 2024, a professional online presence is non-negotiable. If an agent is still using an outdated email domain or has a low-quality website, it’s a red flag. These elements suggest they might not be up-to-date with the latest real estate technology and market trends.
Given that 92% of homebuyers and renters start their property search online, having an agent who is tech-savvy is crucial. Digital marketing, including SEO, social media strategies, and virtual tours, are key components in reaching the right audience.
Choose a real estate agent who embraces technology and can effectively market your property online.
4. Hiring a “Do-It-All” Agent
While it might seem convenient to work with an agent who handles everything from photography to staging, this jack-of-all-trades approach rarely leads to the best results. In 2024, specialization is key.
A dedicated professional team can make all the difference. Real estate photographers know how to highlight your property’s best features, while professional stagers can enhance its appeal to potential buyers or tenants.
Avoid real estate agents who try to do it all themselves. Instead, opt for an agent who collaborates with a network of experts to present your property in the best possible light.
5. Falling for the “Neighbor-Only Open House” Trap
An open house is an excellent opportunity to create buzz around your rental property. However, some agents suggest hosting a “neighbor-only” open house, which often means they are more interested in networking than selling your property.
In 2024, word-of-mouth marketing is still powerful. A bustling open house, even one filled with neighbors, can create valuable buzz that leads to strong offers. Don’t let your agent prioritize their own interests over yours by limiting open house exposure.
Choose an agent who understands how to leverage open houses to generate excitement and attract serious buyers or tenants.
A Comprehensive Approach to Selling Your Rental Property in 2024
When choosing a real estate agent, consider who will give your rental property the attention and resources it deserves. In 2024, the right agent will use the latest marketing strategies and digital tools to ensure your property reaches its full potential on the market.
At The Cal Agents, we take a comprehensive approach to selling and leasing properties. We ensure your property stands out with individualized marketing strategies, maximizing exposure, and securing the best offers. Our goal is not just to get the highest offer but the best offer that meets your specific needs.
