Prospective Renters Are Searching Differently Online, Can Renters Find You?

October 15, 2010 | 2 Comments

Did you know syndicating your properties to major real estate sites maximizes your overall reach?

With a strong third quarter behind us and national vacancies on the rise, it is extremely important for property managers to maximize their online presence by using major real estate sites like Homes.com or Trulia.com in addition to other well-known multi-housing Internet listing services.

The changing real estate landscape has consumers rethinking the way they approach the home search process. An August 2010 report by Hitwise, a leading global information services company, revealed “homes for rent” and “apartments for rent” are two of the top ten searched real estate terms. This year, ForRent.com announced their exclusive partnership with Homes.com and in September 2010, the ForRent.com and Homes.com Network attracted 5.1 million unique visitors. ForRent.com also syndicates its listings to Trulia.com.

According to coStar, a commercial real estate information company, 90% of the top apartment markets in the nation experienced demand growth as leasing activity improved during the first half of 2010. The national apartment-vacancy rate stood at 7.2% at the end of third quarter according to Reis data, down 0.6% from the second quarter.

Property managers might be interested to know, ForRent.com saw a 65% increase in website traffic in August 2010 when comparing year over year trends to the site. This proves that despite the normal seasonal downtrend, potential renters are still using online resources to find their next apartment for rent. With 58% of Americans now reporting that they perform online research concerning the products and services that they are considering purchasing, now is the time for property managers to maximize their online exposure to potential renters.

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Category: General Information, Property Managers & Owners