(8 of 10) Will you market your home or will you ask an agency to assist you?

I have said it before; you can market your own home.

Marketing is a skill and if you love online marketing, social media, setting up your own website answering client enquiries then go for it.

But as you may know; 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.

If you want to market but cannot manage your home then you need to employ a cleaning company, someone who can meet and greet as well as liaise with your guests.

Most agencies like CapeHolidays.info will not manage a home if they are not also the sole marketers of the property as well.

But it will cost money!

Let me say this again: If you focus on cost and not on income (after cost) then you should not work with agency. Capable agencies are supposed to maximise your income.

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?

  1. If you are an average marketer you may get 33% occupancy. If you already get 50% occupancy then keep on refining your skills. A great agency can push this to 50% and even 80%.
  2. You may list your place on a few listing websites; you don’t really know which ones. When you list on many live websites you’ll have to manage many availability calendars. This is risky as live booking sites fine you if do a double booking. Good agencies will use services like Kigo.net. Kigo and other allow you to market on 20 or more booking sites while you manage only one calendar.
  3. Setting your rates: I have seen many owner-marketers who have no clue how to set competitive rates. An effective agency knows how to set rates. Also Kigo.net uses powerful analytical software to create an easy to use engine that will set the optimum rates for maximum occupancy and increased overall revenue.

The above does not mean you cannot do it. But if you decided to do the marketing yourself do the necessary research into where to list, seasonal rates, setting of minimum stays, how you will get paid and costs involved.

Any questions? Leave a comment below.

What is next? Will you give the agency sole marketing rights?