The search options for prospective renters when looking for their next home have just been given a much-needed boost.
Up until now, the home rental search market has been dominated by popular aggregator sites such as Apartments.com which prioritize the listings of giant property management companies like Greystar, with their big advertising budgets. The small amount of single-family home inventory is often relegated to the bottom of the page, which underserves both renters and single-family homeowners looking to rent their home.
A marketplace for single-family home renters
Enter Facebook Marketplace, already used by 1 in 3 Facebook users in the US. National real estate search portal Homesnap has integrated with Marketplace to make it easier to promote single-family homes for rent, and to give prospective renters more search options.
The move follows the successful 2017 integration of Zumper and Apartment List with Facebook Marketplace that made multifamily rental units available.
Marketplace’s extensive reach has given Homesnap the ability to tap into a targeted and relevant user base with superb lead generation potential. Every lead generated goes directly to the listing agent or broker via email, free of charge.
New business opportunity for rental agents
The response has been overwhelmingly positive.
“Our integration with Facebook Marketplace has garnered a ton of interest from renters who typically spend their time searching for a new home among more traditional, multifamily properties,” said Lou Mintzer, Homesnap’s Chief Product Officer.
“We’re hearing regularly from our MLS partners that these placements on Marketplace generate lots of new business for rental agents.”
Homesnap partners with multiple listing services (MLSs) around the country to give brokers, agents and consumers access to real-time MLS data for a superior home search experience. Any MLS currently working with Homesnap can opt into Facebook Marketplace to have its rental inventory promoted there. Since launch, MLSs that have opted into Facebook Marketplace through Homesnap have seen, on average, a 9.8 times increase in free leads and 4.3 times increase in views for rentals.
Facebook Marketplace represents a unique opportunity for MLSs, brokers, and agents to reach renters who may not be working with an agent and/or have access to MLS data.
Marketplace charges no listing fees or commissions, and its mobile-friendly interface and personalized customer experience ensure that property owners, managers, and agents can create tailored, browsable listings with minimal effort and investment.
Renters can search listings to find exactly what they’re looking for using filters such as location, size, housing type, price, number of bedrooms and bathrooms and pet friendliness.
Another big selling point is built-in Messenger chat integration, so questions can be answered in real-time and potential leads delivered and converted quickly. Coupled with expansive inventory, this evolves the renter experience.
MLSs, brokers, and agents interested in promoting their rental properties on Facebook Marketplace should send inquiries to firstname.lastname@example.org.