Resource Guide 8 - Who Will Market Your Self Catering Home?
You can market your own home. It's fun. But it is a skill and if you love online marketing, social media, setting up your own website answering client enquiries then go for it.
You know that marketing is more than just listing it on a few websites; you need to know your rates, seasonal minimum stays, having terms and conditions, indemnity, and third party insurance.
Achieving 80% or higher occupancy at maximum daily rates: This is not an easy task for the DIY home marketer. It can be done.
Airbnb makes it easy for every DIY owner. But research showed that potential guests visit up to 5 listing sites before they decide. To maximise income (high occupancy, high rates and low cost) you need to be on three but best is 5 or more of these sites. (Read more here).
The best time to get the deal is when emotions are running high: They Want To Book Now! And Pay Now! Today! If you are not on many live booking sites you cannot maximise income easily.
It is a problem for the DIY owner to manage 5 or more availability calendars.
Marketing can be done from anywhere. But management needs to be local. This is a problem for distant owners who want to market themselves. They need to employ a manager.
These distant owners need a cleaning company, someone who can meet and greet as well as liaise with your guests.
But most real estate agencies will only manage a home if they are not also the sole marketers of the property. (More on sole marketing in the next guide).
But it will cost money!
You should obviously consider the cost.....
If you focus on cost and not on income (after cost) then you should not work with
In other words: although an agency will cost you money to market your home, the great ones should make you more money than if you did it yourself.
Why do I believe an agency can or should make you more money?
The above does not mean you cannot do the marketing yourself. But if you decided to do it then do the necessary research into where to list, seasonal rates, setting of minimum stays, how you will get paid and costs involved.