Online Lead: How To Pick Properties

Strategy 1: pick properties that best fit your typical client.

  • Make a list of your last 20-25 clients and chart number of bedrooms and rent for each one. This will paint a picture of your typical client.
  • Google the average monthly salary in your area and divide by 3 to figure out what the average person can qualify for rent. Properties require at least 3 times the rent in verifiable income.
  • After you determine how much your typical client can afford, pick properties that fit the demographic in area’s that pay competitive commissions.

Strategy 2: pick properties that focus on a new client type or demographic.

  • If your typical client needs a one bedroom under $1,200 and you want to increase your average transaction, write a marketing campaign to attract renters who can afford $1,400 – $1,600. Pick properties with a minimum rent of $1,400 for your online leads.
  • Is there a new up and coming neighborhood gaining popularity? Pick properties in the new up and coming neighborhood and start generating leads before your competition.

Reasons you won’t get leads on every property you pick

  1. If a property is buying a marketing package directly from apartments.com, your listing won’t receive any leads.
  2. There are reasons unknown in the algorithm that prevent certain properties from getting enough views to generate leads.
  3. Every property you select will not get leads but a few properties will get a lot of leads.

Don’t avoid no locator properties

  1. Don’t pick properties based on commission amount.
  2. The likelihood an individual asks about a specific property and there is an unit available on their move date and in their price range is less than 5%. Don’t be afraid to advertise no locator properties; 95% of the time the lead will pick another property any way.

Use a reputable website like ZipRecruiter to determine the average salary in your city. Calculate three times the rent into an average salary range to determine the rent most people can afford.

Annual SalaryMonthly SalaryRent Range
Atlanta$45,600-$70,600$3,800-$5,880$1,260-$1,960
Austin$42,500-$67,500$3,540-$5,625$1,180-$1,875
Dallas$40,000-$65,000$3,330-$5,415$1,110-$1,800
Houston$35,000-$60,000$2,915-$5,000$975-$1,665

After you determine the rent range most people can qualify for in your city, enter the minimum rent into Locator IDX to find properties in area’s that pay a competitive commission. It’s a delicate balance between picking properties people can afford in area’s that pay commissions. 

  • Pick more properties than you think you need, you can always scale back.
  • You won’t get leads at every property you pick. Some properties will generate a lot of leads but many properties won’t generate any.
  • If the property is paying for a marketing package on any given website, they will always receive the lead first.
  • The best apartments are listed 20+ times because everyone wants leads from the same high-end apartments in the most popular zip codes.
  • There are only so many leads to go around so apartments.com decides who gets a lead for a specific address.
  • If the management company/property owner is paying apartments.com for leads, the manager will receive every lead for their address. A third-party will never get a lead for their property as long as the manager is paying for leads. The priority is always the verified property owner.
  • Every real estate agent/apartment locator publishing listings on apartments.com is listing the same apartments which is why Texas is THE MOST competitive market to generate apartment leads.
  • Every apartment locator wants high-end leads at the best apartments in the best zip codes. 
  • Don’t get too caught up in the specific property a lead responds too. 99% of the time they don’t rent at that property anyway due to availability on their move date.
  • Online leads are much different than any other kind of lead. You will need an aggressive sales pitch and persistent follow up strategy to convert online leads.
  • Research the average salary in your city and calculate how much most people make monthly. Then divide that by three to figure out the rent most people can qualify and be approved.
  • The result of your calculations is going to be most of the leads you receive.
  • The fact is average people can afford an average apartment. Online leads are generally average people.
  • There is no way to improve this statistic with online leads. The majority of generating leads online is out of your control.
  • Online leads should only be one part of your lead generating strategy. You should have multiple lead sources that generate a low, average, and high-end potential clients.