Rental Marketing Mistakes You Don't Know You're Making

378 views

Published on

RentJuice Marketing Webinar "Rental Marketing Mistakes You Don't Know You're Making" reveals latest research on renters and their decision making process while searching for their next apartment.

Watch the presentation here:
http://www.youtube.com/watch?v=9rq7aohUqXU

Published in: Real Estate, Business
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
378
On SlideShare
0
From Embeds
0
Number of Embeds
1
Actions
Shares
0
Downloads
0
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide
  • What worries renters
  • - When we asked renters if they thought that Craigslist apartment listings are more trustworthy than other apartment listing sites.- 46% disagreed.
  • - In fact, most of them think up to 20 percent of all ads on Craigslist listings are scams.
  • Solution: Publish everywhere.
  • - According the the National Multi Housing Council, the average prospective renter visits 2-3 internet listing sites over several months. This means that renters are scrounging the internet for the best deal. While they’re going from site to site, they need to run into your listings everywhere.
  • Rather than posting to individual sites, you can use rental marketing software to syndicate to multiple rental websites at once.
  • According to Entrepreneur.com, about half of all small businesses didn’t have a website.
  • According to a RentJuice study of rental websites, 10% of all rental businesses that had a website did not have listings available to look at.
  • - From interview of a renter from Texas
  • We asked renters if they whether business websites were more credible than listings on Craigslist.
  • - When we asked renters what they preferred…- 63% prefer to work with rental professionals that have a rental website.
  • - If a renter can’t find the information they need within 10 seconds, they’ll move on to another site that will.
  • Solution: Create a Renter-centric website. Post everything that a renter is looking for. They need to be able to find information fast. If they can’t find the information they’re looking for, they’ll move on to a site that will.
  • When we asked renters what was important to them when they were looking at rental websites, they told us that they wanted pictures, sq. footage, floor plan, and most importantly, the move in date. Building a rental website won’t only make you more credible, but it’ll also strengthen your ads, because you’ll be able to link your ads to your website. Once they’re on your website, they’ll be able to see your listings and only your listings. However, what good is a rental website if your listings aren’t enticing enough for a renter to click through?
  • Unfortunately, a lot of websites were missing these features. These are the percentages of the most-desired website features that were missing from actual rental websites (from RentJuice study)
  • Renters can go through dozens to hundreds of apartment listings per day during their search. It’s a pain for them. When surveying renters about the biggest hassle during the apartment search process, 50 percent of them said searching through listings.
  • - From an analysis of Criagslist ads, we learned that: 21% of all ads abused all caps7% of all ads had a spelling or grammatical error
  • We asked renters if a well-written apartment ad is an indication of professionalism in a rental agent, 72 percent said they agreed or strongly agreed. Some rental professionals quickly write up apartment listing ads, hit “send”, and never look back. This is the problem. When there are errors in your apartment listings, it can hurt your business. You could lose a potential lead.  
  • According to Robert Lane Greene, author of “You Are What You Speak,” ads with proper grammar improve credibility, because it makes the ad writer sound educated and trustworthy.- With the increase of rental scams across the U.S., people are wary of who they trust. Ads become a tool for renters, because it can be a quick indicator of whether an ad is real or not. Ads with poor English will be disregarded.
  • If writing isn’t your forte, use Microsoft Word to do the work for you. Microsoft Word has a grammar check & spell check built into the software.
  • Ultimately, renters are doing all this research because they think you’re not credible. They’re trying to find out if you’re real or not so they don’t get scammed or tricked out of their money.
  • According to a study by the Pew Research Center, only 12% of employed adults say that they need to market themselves online as part of their job. - This number should be a lot higher.
  • Question to the audience: “When you do a Google search of your name, what turns up? Do you see your Yelp reviews? Do you appear on message threads?” You may want to try searching your name using keywords renters may use such as, “Jane Doe Rocks” “Jane Doe reviews” or “Jane Doe sucks.” Why is this important? Renters are searching for you.
  • - When we asked our renters, we learned that 83% perform an online search on rental professionals they want to work with. They are looking you up before they even step into your office or pick up the phone to call you. What information are they reading about you?
  • They’re reading reviews that are written from your current renters and previous clients. When do renters write reviews about rental businesses?
  • When we asked renters, our research revealed that 73 percent of renters would write a review on you if they had a positive experience with you.- Bad experience – 75 percent
  • -So if renters are so skeptical about working with you, how do you convince them that you could be trusted? Create an online ecosystem for yourself. Conclusion: Renters are wary. They’re unsure of who they can trust online, especially when trying finding their next apartment. With the increase of Craigslist scams and other skeptical resources, finding reliable, truthful sources are more important than ever.
  • Credibility isn’t given. It’s earned. In the eyes of renters, you’re not automatically seen as credible. You have to earn their trust and prove your credibility. You can do this by publishing your listings in many places. There are places like Zillow.com that allows you to create a profile linked to your listing. Renters will be able to validate you straight from the listing site. Also, a professional website helps – renters prefer agents that have a website. So, if you don’t have one, renters may be skeptical of you. Double check & triple check your ads. Renters looking for an apartment spend most of their time looking at ads – so your ads need to be polished. Don’t lose a lead from a poor ad. Renters want someone they can trust. They want to trust you, but you have to prove it. By creating this ecosystem around your rental business, you’re able to establish yourself as a creditable resource for renters.
  • Rental Marketing Mistakes You Don't Know You're Making

    1. 1. Rental Marketing Mistakes You Don’t Know You’re Making Kyle Paice Director of Marketing
    2. 2. Trust Photo  credit:  Jerry  Bunkers  (Flickr)  
    3. 3. Quality that Matters Most Local Knowledge 10% Inventory Knowledge 14.20% Commission 16.70% Access to Apartments 19.20% Honesty 40%
    4. 4. We did research.
    5. 5. Real Vs. Fake
    6. 6. Craigslist scams are “in.”
    7. 7. “Law enforcement officials sayit’s a hot new scam. It starts with a Craigslist apartment ad. And if you’re a target, you could see thousands of dollars.” –ABC News, New York
    8. 8. Mistake #1: "Relying ONLY "on Craigslist.
    9. 9. Many professionalsrely on Craigslist for leads. (Probably most of you do, too.)
    10. 10. “Do you think listings on Craigslistare more trustworthy than those on other sites?” 46% said: “No.”
    11. 11. What Renters Think “20% of Craigslistlistings are Scams.”
    12. 12. Do it right: Publish everywhere.
    13. 13. 2-3 Listing Sites
    14. 14. Post where "renters search.
    15. 15. Your Ad
    16. 16. Mistake #2: "Your website stinks or " it doesn’t Exist
    17. 17. Half of small businesses don’t have a website 2
    18. 18. 10% of rental websites had noavailable listing data.
    19. 19. What Renters Think “If a rental business is professional,   it should have a website to support it. It’s the firstimpression you get from the business.”
    20. 20. Business websites aremore crediblethan Craigslist.
    21. 21. Business websites aremore crediblethan Craigslist.62% agreed
    22. 22. What Renters Think 63% 37%With website Without
    23. 23. 10 seconds
    24. 24. Do it right: Renter-centric Website
    25. 25. What Are They Looking For? Pictures Square footage Floor plan Date available
    26. 26. What Are They Looking For? Pictures 39% Square footage52% Floor plan 54% Date available 60%
    27. 27. Websites with Missing Features Floor Plans 98% Availability Date 70% Square Footage 65% Property Pictures 21%
    28. 28. Problem #3" Your Ads AreUNPROFESSIONAL
    29. 29. 50% Searching  through listings
    30. 30. 21% All Caps7% Grammatical errors
    31. 31. What Renters Think
    32. 32. Apartment ad as an indication of professionalism72%Agreed
    33. 33. Well-written ads: Grammar Credible Trustworthy
    34. 34. Do it right: Use a Word Processor!
    35. 35. Why does this matter?
    36. 36. Mistake #4You don’t have " a reputation.
    37. 37. 12% said they needed to market themselves onlineas part of their job.Jerry  Bunkers  (Flickr)  
    38. 38. Jane Doe ABC Realty
    39. 39. 83% perform an "online searchbeforedeciding to work with you.
    40. 40. 73% 75%
    41. 41. 57% Choose a different agent at a different agency
    42. 42. Layout Sq. Feet Rental website Date avail.Other listing sites Maps
    43. 43. Big TakeawayEarn your credibility.
    44. 44. What Next?rentjuice.com/rental-marketing-resourcesblog.rentjuice.com Feedback: info@rentjuice.com Follow us: @rentjuice Facebook.com/rentjuice

    ×