When taking over a new asset, there are five key items you need to be thinking about from a marketing perspective. Let’s get right into it…
1. Are you keeping the name or renaming the asset?
What does the property reputation look like? If it’s bad, you should consider renaming the asset and doing a rebrand to reposition the property in the designated market. This gives you the chance to build a new reputation under a new name rather than repairing the old one.
2. Are you keeping the property website or designing a new one?
Some things you’ll want to think about: Is the existing property website easy to edit? Will you be able to feed your pricing into it? What is the cost to maintain that website? All of the aforementioned should be considered especially if you have your own website provider you usually work with. You’ll need to decide whether or not you want a template or a custom website.
3. Where is the property online? Create a digital inventory of everything.
ILS listings, Google My Business, Yelp, Google Ads, Facebook Ads, social profiles, etc. Do some deep digging to find everywhere the property is listed.
This is important in making sure you know where to update all of your information after the takeover and make sure leads are filtering through to your lead management system. It is also helpful to have a small blurb about the property now being “Under New Management.”
4. Gather logins for everything.
Start immediately as this can take time; multiple parties/contacts are often involved. This is an arduous hunting down process. Even after the takeover, both parties will still need to be in contact with one another.
5. Collect all marketing assets.
Ensure you gather all logo files, floor plans, hi-res photography files, and the style guide if they have one. This is extremely helpful for your new marketing team, whether for the internal team or the agency you will be using. In addition, it would be helpful to gather as many contracts as possible from the previous agency.
If you’re taking over a new asset and need help, we’re offering a free 30-minute consultation. We will go more in-depth on the ideas above. Just book your time by clicking here.
Josh Grillo is a #1 Best Selling Author, Speaker and Co-Founder of Resident360.