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Read past issues of Rental Marketing Tips
RentMarketer.com, Issue 1

ISSUE AT A GLANCE (Issue 3): Successful Rental Marketing Survivor Guide

Step 1: The Internet: Getting More Leads for Less

 

According to recent data, last year 82% of home searchers used the internet to search for homes. Among people who plan to find information on real estate, 62% expect to use a search engine – substantially more than the number who plan to rely on word-of-mouth recommendations, yellow pages, or other sources. [1] Recent data for newspapers forecast a drop from 40% share in 2005 to 30% share in 2010. [2]At Rent Marketer, we post your ad to many of the top traditional and vertical search engines and rental sites.

Step 2: Posting to Internet Sites

 

 

What sites should you post your properties to?

The best way to figure out what sites to post to is usually by experience. If you find that phone and email leads are being generated by a site and those leads are turning into leases, then that site is a good site to continue posting to. We have found that there are many great sites out there that drive quality leads. At Rent Marketer, we do all of the research and work for you. If sites are not pulling their weight, we pull them from our list. Posting one time with us, will get your property posted on many of the top rental sites.

Step 3: Maximize Your Leads

 

According to the National Association of Realtors, 50% of email leads are never even opened. A majority of phone leads go unanswered. Studies also show that if you respond to emails immediately and answer phone calls, you are much more likely to get tenants to fill vacancies.

Step 4: Tracking Your Response

 

How do you know if your advertising is working? At Rent Marketer we believe you should know exactly how many leads you received for each property. We supply you with reporting that shows how many people emailed and called you interested in a specific property.

 

10 Elements Every Internet Marketing Ad Should Have

  1. A clear headline. – Each site allows for a headline. It is best to not use the address in the headline but rather phrases like Townhome For Rent in Denver – Granite Countertops or Three Bedroom Home For Rent in Atlanta.

  2. A detailed Description – 1 bd 2 bth, fireplace is not a very good description.The description should be rich in detail but not too long. What are some of the words or adjectives that help decrease vacancy rates for rental properties? Here's the breakdown: - Granite -State-of-the-art -Stainless Steel –Appliances -vaulted Ceilings –Maple – Gourmet – Corian - Wood Floors.

  3. Add Photos. Statistics show that adding at least one photo dramatically increases the amount of qualified leads that are sent to you. Things to keep in mind when taking photos of the property: Make sure there is enough light. Remove any knick knacks from the table or refrigerator. People do not like the sight of clutter. Top areas to take photos of: Front of home -- Kitchen -- Bath -- Living Room -- Back Yard

  4. Pricing. Depending on the product or in our case, the home you are trying to rent. It is best to put $995/Month instead of $1,000/Month. View more on Psychology of Pricing here (http://rentmarketer.com/rm/cm/page/newsletter80106.html)

  5. Your Company Name and Contact – How can potential tenants get a hold of you? At RentMarketer we automatically add your company name and contact information to each ad.

  6. Benefits, benefits, benefits – Put yourself in the shoes of the tenant searching for a property. Why should they contact you and a particular property. What are the benefits of the property?

  7. Visibility – Tenants interested in finding rental properties search across many rental sites. Our data shows that one person may search on 10 or so rental sites at once. The more of these sites your ads are on, the more likely they are to contact you to view the property.

  8. Tracking. Our philosophy is we don’t care if an ad receives 1 million views. If no one is calling or emailing it is pointless. Base your return on investment by how many leads you received for that ad. How many people called? How many people emailed? We track both phone and email leads at the ad level.

  9. Virtual Tours – They say pictures are worth a 1000 words than virtual tours must be worth 1 million. Take the time to develop a virtual tour.

  10. Spell Check – Remember first impressions are the most important. Make sure you double check spelling. An easy way to check spelling is to put your description in Microsoft word and spell check before adding to the web.

[1] Local Information Survey, conducted by Media-Screen, August 2005.

[2] National Association of Realtors, Borrrell Associates Inc, 2006



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