Podcasts
VRS039 - Creating a Vacation Rental Owner Network
The growth of the big listing sites and the move away from a relationship based transaction between guests and owners is driving more owners towards ways of connecting with customers on a more personal level.
Having your own website, becoming a local expert by blogging and podcasting, and creating a solid presence on social media, are some methods, but the guests on this episode have an alternative to the mega listing sites that is really working for their clients.
Maui Owner Condos is a listing site with a difference. The majority of the condos listed have been inspected by the Pauli team, and are all verified personally as registered properties on the island of Maui, meeting the conditions of county registration. The owners manage their properties themselves and most use the site as a springboard to their personal website. This network model is one that owners in any other part of the world could emulate.
Bonnie and Matt, a mom and son team from Michigan and Iowa, have been in the vacation rental business since the late 1990s and have a vast amount of experience in marketing, management and operations of condos in their little part of paradise. We discuss a range of topics from how the business started, to the giddy success of having up to 100% occupancy (and why they prefer to keep under 90%); how video can bring a large amount of traffic, to the importance of sharing experiences in listing photos.
Specifically we talk about:
- The growth of the vacation rental industry and how it is impacting owners
- Creating authenticity and guest confidence with video
- Why it is important to be a host and not a front desk
- What the Pauli’s look for in a new listing and why hands-on ownership is important
- The value of an owners’ network and how to develop one in your area
- Bonnie’s view of the future of a ‘super directory’
- Matt’s take on the real estate market in Maui
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