You might think that good PR isn’t necessary if you have a business that builds or flips homes, but it has a vital place in giving the right impression to everyone you want to do business with. Failing to get on top of how your business looks to the outside world could cost you dearly, as companies with a strong eye on their reputation will look to steer clear of any partner that might make them seem guilty by association.
If you doubt the importance of good PR, here are three examples where a good reputation can get you head and shoulders above your competition.
Get a good reputation for buying fairly
When you are looking to acquire land or homes at the best possible price, it is easy to ruffle a few feathers and upset people who feel you might be taking advantage of their situation for financial gain. If you get a reputation for doing this, you might find that future potential sales might evaporate as those looking to sell, go elsewhere.
However, by getting the right PR company on your side to highlight the deals that were a win-win for both parties, you might find that this problem does not occur, and conversely, potential sellers might come and find you.
Deal with a reputable lender
Another big step in this direction is to have your financial backing sorted out. If you start doing deals only to have them fall through because you don’t have funding in place or the money takes far too long to appear, you will quickly lose your reputation as somebody to work with.
By having a relationship with a reliable private lender who can offer the right type of asset-based lending solutions, you can have funding in place quickly and get on with your project. Having a reputation for moving fast has its appeal to those who want to sell quickly and may accept a slightly reduced price for their property or land as a result.
Look good to potential customers
The final piece of the puzzle is when it comes to selling your new build or flipped property. Of course, you will have to ensure that your contractors do the work correctly with quality materials so that there is a good standard of finish, but highlighting each new project will raise interest and build a reputation for providing quality developments. Having people queued up to buy what you have just built or renovated will not only save on marketing costs but can also increase the potential selling price due to demand.
To wrap everything up
There is more to having a real estate business than meets the eye, and having a good reputation can be vitally important when it comes to buying and selling homes. After all, these are the biggest purchases your customers are ever likely to make, so they will be doing their due diligence and checking you out. If they find too many negative things said about you online, they are likely to look elsewhere, no matter how good a job you have done with the renovation. On the other hand, if they see good things, you can complete the deal in double quick time.
