- Facebook is a hot source for real estate leads, and PropertySimple's formula for snagging them is gaining ground.
Facebook ads can be a potent source of homebuyer and seller leads, and Realtors will go to great lengths and creative means to scoop them.
PropertySimple is one of the latest marketing products designed to help real estate agents tap the social media site — and others — for business.
The startup recently raised $3 million in funding from investors including Magma Partners, a Latin America-centric venture fund.
PropertySimple’s founder, Adrian Fisher, created a rent-payment system and popular listing portal in Latin America, according to a press release from PropertySimple.
Originally from Scottsdale, Arizona, Fisher launched PropertySimple after he and his team spoke to U.S. real estate agents and “realized that the technology they’d created in Latin America was applicable to the U.S. market,” the press release said.
PropertySimple is for top-producing real estate agents spending “at least $5,000 a month on other advertising services,” Fisher said.
Its flagship product costs $2,500 a month and guarantees a minimum of 100 leads per month. Every lead has “100% verified contact information,” said Nathan Lustig, a partner at Magma Partners, speaking on behalf of PropertySimple.
Drawing on artificial intelligence (AI), PropertySimple designs Facebook ads for a real estate agent’s listings and then targets the ads at likely buyers. It also places ads on LinkedIn, Instagram and Twitter.
Users who click on the ads are prompted to enter contact information for access to the listing on PropertySimple’s property search site.
The company says its AI is adept at analyzing a property and neighborhood to identify the best demographics to target. In “special cases,” a “real person on our ad team” — rather than PropertySimple’s AI — will manually tweak an ad’s audience, Fisher said.
If a rental listing is located near a university, PropertySimple might target an ad for the property at students enrolled in the school. Or if a high-end condo listing neighbors a hospital, the ad might be pushed to local doctors.
Captured leads are stored in PropertySimple’s customer relationship management system (CRM) and automatically contacted by email on an agent’s behalf.
If leads don’t respond immediately, PropertySimple’s CRM will send automated follow-up emails to nurture them over time.