How to Generate Renter Leads and Maximize Your Qualification Process
Leads are the lifeblood of real estate professionals. You must know how to effectively generate, respond to, and qualify them to succeed in this market, especially before you start receiving referrals. Working with renters creates a great opportunity for you to quickly build relationships and develop essential skills as a real estate professional. They also allow you to complete more transactions, as those deals typically happen faster. How do you generate renter leads effectively? There are several ways to generate renter leads, but we will focus on ads. Posting ads with listings online generates results quickly, allows interested renters to engage with your listings 24/7, and provides you with an easy and repeatable process when you secure new listings. Here are the best practices you should follow when posting online: Know your market: Understand factors such as rental prices, location, and average rents to control the quality and quantity of leads. Create a plan and be consistent: Develop a consistent and disciplined plan for ad posting activities, aiming for at least three days a week with the goal of doing at least five ads per day. Test and track results: Experiment with posting times and track the posts that receive the best responses. Iterate and improve to attract the best leads for your listings. Use photos and clear descriptions: Craft concise descriptions (around 400 words) with clear highlights to capture renters' interest and use high-quality photos that showcase the best features of the listings. Explore areas for additional visibility: Look for opportunities for additional visibility by exploring local schools, corporate sites, or bulletin boards where renters may be present, and inquire about posting ads in those locations. Have a lead response and qualification process: Develop a system for promptly responding to leads and efficiently managing the qualification process to avoid losing potential business. Make sure you have permission to post ads for the listings. Emphasize the value proposition such as increased visibility and reduced lead work for property owners. What are the best practices for lead response? What do you do now that you have your ads set up and are getting leads that need responses? Renters tend to be less patient than buyers, so it's important to have a process to remove the guesswork on why, what, and when to respond, increasing the likelihood of closing that deal. Lead conversions are 391% higher when you call within a minute of an online inquiry. Consider having a diverse set of outreach methods to increase the odds of contact: Text your client about their inquiry and set a time to talk Send them a follow-up email after the text Call them at the stated time If you miss them, text and email again, and set a different time to talk Repeat the process at least three times Cut bait after at least three times On average, it takes seven outreach methods before a sale is closed. Go through this process at least three times to ensure you're making your best effort to communicate with the lead and maximize your chances of conversion. If the client doesn't want to talk to you, move on. How do you qualify a lead? There are three primary stages to conducting a successful qualification call: The introduction: Your goal is to ensure that they know you are qualified to help them and specialize in working with renters. The qualification: You need to determine if this is a solid lead and what are their rental needs (see table below). The closing: Discuss any questions the lead may have about working with you and set expectations on the next steps. Follow up the phone call with an email that includes several listings they may be interested in. What are the next steps? To get started, check out the resources linked below. Decide who your ideal target is and create short/long-term goals to help you reach them. Begin posting ads for renters at least three times per week for an hour or for a certain number of posts. Implement a lead response and qualification system to maximize your lead generation efforts and catapult your real estate business to the top! Resources to get started: Guide to Posting Ads on Craigslist Guide to Posting Ads on Facebook How to Handle Lead Response Lead Qualification Questions Lead Response Plan To view the original article, visit the Rental Beast blog.

3 Essential Marketing Emails that Real Estate Agents Can Send Today
Real estate's busy season is here — when's the last time you reached out to your database? While it's a best practice to stay in touch year-round, it's extra crucial to contact those in your sphere during the spring and summer selling season. Not sure what to say? Stephanie Alfonso and Matthew Montoya of Constant Contact have your back. In a recent webinar, they shared a wealth of outreach tips, including three specific examples of emails you can send to your database. In this article, we'll take a closer look at each of these emails. We'll also offer examples of the components that your message should consider, including subject line, call-to-action, desired business result, and send frequency. Ready? Let's dive in… 1. Homeowner Tips Homeowners spend an average of 10 years in their home, according to the 2024 NAR Home Buyers and Sellers Generational Trends report. That means that they're only ready to receive sales-focused messages once every decade. So what should you send those contacts who are not ready to transact in the near future? Enter the Homeowner Tips email. These friendly messages aim to offer homeowners something of value — in this case, advice on maintaining what's likely their biggest financial asset. You can write these yourself, hire a writer or service to create these, or tap into ChatGPT or a similar AI to help you get started. Subject line: This is an easy one — you can use the title of whatever your tip-focused article is about for the subject line. That could be anything from "3 Tips to Get Your Yard Ready for Spring" to "Appliance Care 101: How to Extend the Lifespan of Your Household Appliances," for example. Call-to-action: This email can be a great way to drive traffic to your website. Post the full article to your blog and include an excerpt in your email with a call-to-action like, "Read more tips here," or "Learn more about maintaining your home." Business result: What do you want this email to accomplish for your business? Here are three results to keep in mind while crafting your message: Staying connected to clients, driving traffic to your website, reaching new clients when your email is shared or forwarded. Send frequency: Once a quarter. 2. Share Your Listings Have a new listing? Share it with your sphere. Here's the break down: Subject line: New properties now available! Call-to-action: See more details / Take a video tour / Schedule a viewing now / Share this listing with family and friends Business result: Increase sales or interest in a property. Get new prospects via email sharing. Send frequency: As needed as determined by your market. 3. Request Referrals Let's close out with some good news: 90% of recent buyers and 87% of recent sellers would recommend their real estate agents, according to NAR. Despite these encouraging numbers, many agents feel uncomfortable asking for a referral. You shouldn't let discomfort get in the way, however, because consumers are already primed to give reviews and referrals. "Anytime we get out of an Uber, what's the first thing that we're asked to do? Give that five star rating. Give that review. We're used to it," says Alfonso. She recommends keeping a template that asks for referrals or testimonials ready to go in your email system. "Being able to shoot that out, automate that out, just makes it so easy. The power of referrals powers our business." Here's what to keep in mind when drafting this email: Subject line: We'd appreciate your referral! Call-to-action: Refer a friend, family member, or colleague / Leave a rating or review on [platform of choice] Business result: Acquire quality leads. Connect with other agents. Boost revenue. Send frequency: Once a quarter to your general database. Immediately after closing to specific clients. Building a Better Email The above is just a fraction of the great advice we received in our webinar. Watch the full recording for more tips on everything from building an effective email to leveraging AI to help write your message. Want an easy way to build and send these emails to your database? RE Technology readers can try Constant Contact FREE for 60 days, no credit card required.

For the Class of 2024, Austin Ranks as the Top Rental Market for College Graduates
A Combination of High Income-to-Rent Ratio, a Graduate-friendly Job Market and Appealing Lifestyle Make These Metros the Top Markets for Recent College Graduates SANTA CLARA, Calif., May 7, 2024 -- For graduates evaluating where they'll make their mark on the real world after college, Austin, Texas may offer them the best option for living, working and camaraderie amongst their peers. In a new report, Realtor.com® uncovered The Top Markets for Recent College Graduates and Austin ranked #1, followed by Bloomington, Minn. and Pittsburgh, Pa. to round out the top three. "Graduating college is a major accomplishment, and, as commencement speakers often point out, also the beginning of a new chapter. Graduates have a lot to consider when deciding where to start that next phase. Considerations like finding an affordable place to live, positive job prospects and a nice lifestyle, are all important and it can be tricky to balance each of these factors," said Danielle Hale, Chief Economist of Realtor.com®. "Renting is more affordable than buying in the short run and can be a great option, especially when life right after college is usually marked by navigation of uncertainty and personal and professional growth." Top Rental Markets for Recent College Graduates The Realtor.com® analysis of Top Markets for Recent College Graduates uncovers the places in the U.S. where the class of 2024 can find a healthy mix of affordable renting options, job opportunities, and appealing lifestyle based on the following metrics: Affordable Rent Realtor.com® calculated the ratio between rent and income for households between the ages of 25-34, which represents how much of their typical gross income is allocated to housing expenses. A low ratio is better as it suggests the housing costs take up a smaller portion of the monthly paycheck. Among the top 10 markets, the rent-to-income ratio spans from 19.9% to 26.7%. Bloomington, located within the Minneapolis-St. Paul-Bloomington metro area, emerges as the most affordable top-ranked rental market among the top markets with a ratio of 19.9%. Plenty of Choices For recent college graduates starting a fresh new post-grad life, finding an apartment to rent can be tricky, if there aren't many options available it becomes even harder. Realtor.com® calculated a proxy for rental availability by measuring vacancy rates. Higher vacancy rates means a market could offer more options to choose from while potentially tapping into bargaining and negotiating with landlords because of the high supply. Out of the top markets, Austin within the Austin-Round Rock metro area (9.0%), boasts the highest rental vacancy rate. College-Graduate Friendly Jobs When moving to a new city after college, graduates are looking for opportunities to kick start their career. In the Realtor.com® list of Top Markets for Recent College Graduates, people may encounter less difficulty entering the workforce and securing positions that match their skills and qualifications. To define these roles, Realtor.com used data from the Bureau of Labor Statistics, categorizing occupations that require a bachelor's degree but no prior experience as recent college-graduate friendly. Austin, Texas, home to many tech-fueled company offices, leads with 29.6% of occupations in this category in the surrounding metro, followed by Raleigh, N.C. with 28.8%, and Bloomington, Minn. with 26.7%. Job Stability How well one can kick start their career is an important aspect that many college graduates consider when moving to a new city. Another aspect is how well they will be able to grow their career, and whether the area boasts a stable job market. A lower forecasted unemployment rate suggests that recent college graduates could encounter less competition when seeking employment, and better job security, which will help to launch their careers and achieve their professional goals. In the Realtor.com® report, Bloomington, Minn. is forecasted to have the lowest unemployment rate in 2024 (3.1%) among the top 50 metros, followed by Austin, Texas with an unemployment rate of 3.3% in the surrounding metro. Opportunities for Job Growth To measure job opportunities, Realtor.com® used the Indeed Job Posting Index, which details the change in job openings compared to pre-pandemic baselines. A higher index for a market indicates a healthy number of opportunities; recent graduates can use the index to identify whether a place can offer positive job growth in the future. Within the top 10 markets, the index ranged between 114 and 166. Specifically, Scottsdale, Ariz. (an average index score of 166) experienced the highest increase of job openings when compared to the pre-pandemic period. Surrounded by Peers When moving to a new city, college graduates looking to make new friends and encounter people in similar life stages may turn to places with a good amount of peers who can provide a supportive environment, networking opportunities, and access to entry-level jobs. This enhances the transition from college to life after university. Among the top 10 markets, the share of recent college graduates ranged from 2.5% to 4.4%. Notably, Pittsburgh, Pa. (4.4%), has the highest share, followed by Atlanta, Ga. (4.2%) and Richmond, Va. (3.7%). Short Commutes For college graduates who may be accustomed to walking to campus, the transition to work life after college may come with longer commutes, however it doesn't always mean sitting in hours of traffic. The top markets on the Realtor.com® list have an average expected commute time of 25 minutes in 2024, which is shorter than the city/town average of 30 minutes. Notably, Overland Park, Kan., boasts the shortest average commute time of 22 minutes. Bloomington, Minn. and Scottsdale, Ariz. were not far behind; both have an average commute time of 23 min. Appealing Lifestyle Classes are out for good, so why not enjoy the fruits of college labor? Realtor.com® measured how lively a town is using point of interest data provided by Yelp to indicate an abundance of entertainment, shopping, and lifestyle businesses. These businesses encompass a variety of venues such as restaurants, cafes, bars, shops, theaters, comedy clubs, and art studios. Among the top 10 markets, the number of businesses per 1000 households ranged between 17.1 and 39.5. Specifically, Beaverton, Ore., claimed the highest position within the top 10 list, with a ratio of 39.5. Atlanta, Ga., with a ratio of 27.5, and Scottsdale, Ariz., with a ratio of 25.2 were closely behind. For more information on the Realtor.com® Report on Top Rental Market for Recent College Grads please visit realtor.com/research. Data Source and Methodology For the purpose of the research, we ranked 313 cities and towns with a population of more than 75,000 that are located within the 50 largest metro areas. Rent-to-income ratio: Rental data are studio, 1-bedroom, or 2-bedroom units advertised as for-rent on Realtor.com® between April 2023 and March 2024 in the top 50 metros. Rental units include apartments as well as private rentals (condos, townhomes, single-family homes). Household income was sourced from 2024 Claritas estimates based on Census Bureau data. Rental vacancy rates were the 2023 average vacancy rates calculated from Census's Housing Vacancies and Homeownership Survey for each city/place's surrounding metro area. Recent college graduates-friendly occupations were those defined by the Bureau of Labor Statistics, requiring a bachelor's degree but no prior experience. The share of these occupations were then calculated using 2022 ACS 1-Year individual data for each city/place's surrounding metro area. The stated forecasted unemployment rates are Moody's Analytics projections of U.S. Bureau of Labor Statistics Local Area Unemployment Statistics for each city/place's surrounding metro area. The metro level online job posting index was sourced from Indeed's Hiring Lab and we took the average index between April 2023 and March 2024 The share of recent college graduates was estimated using 2022 ACS 1-Year individual data. Recent college graduates were individuals who were between 25 and 29 years old, earned a bachelor degree and were not in school. The average commute time data was sourced from 2024 Claritas estimates based on Census Bureau data. Counts of culture and lifestyle businesses were aggregated from Yelp's November 2023 point of interest data and are aggregated at the city/place level. The counts were then normalized using 2023 Claritas city/place level household data. About Realtor.com® Realtor.com® is an open real estate marketplace built for everyone. Realtor.com® pioneered the world of digital real estate more than 25 years ago. Today, through its website and mobile apps, Realtor.com® is a trusted guide for consumers, empowering more people to find their way home by breaking down barriers, helping them make the right connections, and creating confidence through expert insights and guidance. For professionals, Realtor.com® is a trusted partner for business growth, offering consumer connections and branding solutions that help them succeed in today's on-demand world. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. For more information, visit Realtor.com.