6 Keys to a Successful Asset Takeover

For today's marketing tip, I'm sharing six key items you need to be thinking about from a marketing perspective when taking over a new asset. 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?

Here are 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 Business Profile, Google Ads, Facebook Ads, social profiles, etc.—do some deep digging to find everywhere the property is listed.

This is important in ensuring you know where to update all of your information after the takeover and make sure leads are filtering through to your lead management system. 

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.

6. Readdress any negative reviews.

This is a big one that most companies forget to do. Once you have ownership of review sites like Google Business Profile, readdress any negative reviews by stating the property is under new management. This is especially true with Google Business Profile, as they allow you to edit review responses from their dashboard.

View Resident360 >>