Renter facing websites come in all shapes and forms, but they also share many commonalities when it comes to the type of data they prefer. If your data is not up to their standard you run the risk of not having info displayed properly, or worst yet having your listings being rejected.
Below are some best practices.
Account Name - Having a real account name. This can be your office name or your own name. Names such as No Fee Apartments or Best Apartments are what you don't want.
Agent Name - The name of your user will need to be a real person's name. Stay away from names that are the office name or names such as Top Agent.
Street Name - A valid street name and number is required. Unit number or other text cannot appear in the street name field. Street names should be complete with street suffixes.
Unit Number - Unless renting out the entire house, otherwise always provide a unit number. Do not append additional info to the unit number.
Photos and Description - Photos and description is required for the majority of websites. Good and unique descriptions help.
Features/Amenities - Commonly used names work best. Checking some renter facing websites to see what features they display to get ideas. Websites tend to ignore names that do not easily match to what they have.
Update Frequency - The listings need to be updated frequently. Non-updated listings will lower the quality of your placement priority or could even be excluded completely.
Respond to Leads Quickly - Many websites want to make sure their renters have a good experience by measuring your response rate. Not responding in time or at all can lower your placement priority.
MRED has long asked third party vendors like us to move to MLSGrid.com to access MLS data. However, because of their much higher pricing structure, and manual authentication and management of each user, we have tried to hold this off for as long as possible. Unfortunately MRED has now set a cut off deadline of the data if we do not move.
At this point we are asking all users who would like to continue utilizing their MLS data integration to read the below. If authentication through this new process is not completed by June 30th, 2021 MLS integration will be removed for your user.
Integration is no longer a flat fee for third party vendors like us. We are now being charged on a per user basis. Our current automated user authentication through MLS ID is also no longer applicable. We will now need to add/update/remove each of our users manually through MLSGrid.com's interface.
Because of these changes and additional expenses that are incurred, we will be passing this along at cost for users looking for MLS integration. This will be an one time $10 setup fee and $10 per month after.
1. Fill out our request form.
2. An email will be sent to the admin of the account for authorization of the $10 setup fee and additional $10 / mo. charge.
3. Upon approval, we will submit the request to MLSGrid.com.
4. You will receive an email from firstname.lastname@example.org to sign the Data License Agreement. If you are an agent, after signing the agreement an email will also be sent to your Broker for their signature.
5. Once all documents are signed, you will be notified when MLS is activated for your account.
Please Note: When signing the Data License Agreement, you must input the requested information exactly as you have entered into the initial request form with us. Fields are case-sensitive.
If you have any questions, please reach out to us at email@example.com.
Thank you for your great responses on our first quick survey regarding Pay Per Lead. We really appreciate your responses.
Out of hundreds of responses, ~30% are willing to pay per lead.
Among the ~30% who are willing to pay:
The most common concern expressed is regarding the lead qualification. We understand that no one wants to pay for unqualified leads. Since there is no common standard on what is a "qualified lead", we specifically left it for your own interpretation. The idea is to get a sense of what a lead is worth to you and if there is enough interest worth further exploration.
The short answer is yes. You should pay for leads as long as it meets two conditions:
1. The lead cost is lower than its worth.
2. You have time to handle more leads.
Regardless if you are paying for leads per posting, by listing syndication, or any other way, you can calculate your Per Lead Cost. For example, if you are paying for syndication of $100 / month to a website, and it generate 50 leads / month, your per lead cost is $2 / lead.
You can figure out your Per Lead Worth by estimating how many leads it would take you to close a deal. Say it take 50 leads to close a $2,000 deal. Then each lead is worth $40 to you.
If you are making $40 per lead, by spending only $2 per lead, you got a great deal.
Craigslist will start charging $5 per ad starting November 5th. See screenshot below.
Each ad will be active for 30 days instead of 7 days. Ad renewing option will no longer be available. Which means "refreshing" an ad will incur an additional $5.
Purchase Ads in Bulk
Craigslist provides a Paid Posting Account option to purchase ads in bulk among other benefits. You can visit the URL below regarding the details and how to create one. Although if you are looking to upgrade or create an account, please do so after November 5th, as it is not currently live yet for Boston and Chicago.
Impact on Penny Posting
The posting process will likely change after the Nov. 5th roll out. Penny Posting is in the process of reviewing how these changes will impact the existing features. Please stay tuned for further updates.
In light of the coming Craigslist change, we anticipate that your personal and office posting needs and patterns will change drastically. It is common practice in NYC (Craigslist have been charging per posting) to setup an Office Paid Posting Account to allocate posting credits to agents as part of the overall compensation system.
We are working on integrating an Office Paid Posting Account into YGL to allow your office to assign posting credits to your agents. The first iteration will be launched shortly after November 5th.
Aside from the obvious fact that you will now pay for advertising on Craigslist, here is our initial take on the likely impact to the Boston & Chicago market.
1. No More Posting Wars, The Number of Postings Will Drastically Go Down
The number of postings in the Boston & Chicago boards will drastically go down! From what we see in NYC, the total number of postings will go down 10 fold and more from previous levels.
2. Each Posting Will Become More Effective
The bad news is that you have to pay, but the good news is that there will be way fewer ads, so each ad will get more exposure and become more effective.
3. Time No Longer Equals Leads, You Need to Work Smarter
It used to be that you can just work hard by posting more ads to to get more leads. That's no longer going to be the case. You will need to work smarter, finding alternative ways to generate leads and getting more mileage out of existing leads. As an office, efficiency, compensation package, tools will become more important.
You should start a marketing / advertising budget and start measuring how much a lead is actually worth. For example, if you know how many ads do you need to post to get certain number of leads to close a deal, you will know how much money you can spend to advertise. Once you know how much you need to spend to close a deal, you can work to improve it.
Image that you can only post 3 ads out of 1000s of listings, which ones do you post? Everyone will be posting their best listings, so having competitive listings, good photos and descriptions become ever more important. You will need a couple "lead listings" to generate the leads, and then try to sell other listings while contact is established.
6. Try Other Lead Generation Methods
You will have time freed up, since you won't be doing as many postings. You must also have a budget to spend. So, you might as well take this opportunity to try other marketing / advertising methods, such as social media, SEO, Pay Per Click, Zillow Posting, etc.
As we find out more info and as new features are being developed, we will send updates. Please keep an eye out for additional info and further updates. In the meanwhile, you can reach out to us with any feedback or questions at firstname.lastname@example.org.
As promised from last year, we are excited to announce that You Got Listings now provide listing updates for over 300 high-rises in the Chicago area. This list should cover about 90% of all the available high-rises. We hope this important addition will make you and your office more productive.
Visit the Landlords Directory to add them to your YGL account.
We understand that having all the details for listings is crucial, and it is a work in progress. Please send us your feedback and recommendations to email@example.com regarding what we can do to improve the data quality. Your feedback is greatly appreciated.
Requesting New High-Rises
Please email firstname.lastname@example.org if there is a high-rise not on the list that you would like for us to provide updates for.