The Power of Online Marketing
Our data from 2024 shows that, once again, the majority of our tenant leads come from online sources.
At 901 Real Estate Services, we know that effective marketing is essential for our finding the right tenants for our managed properties. By analyzing our tenant lead sources, we’ve found that over 88% come from third-party websites. This knowledge shapes our marketing approach, driving us to focus on the digital platforms where prospective tenants are actively searching.
These findings are based on over 2,400 leads recorded in our software between January 1, 2024, and December 31, 2024. It’s important to note that this data only includes leads where a referral source was tracked. Leads added manually or those where the software did not capture a source are not reflected in these percentages.
Zillow Leads the Way
Among third-party platforms, Zillow is our most significant source of tenant inquiries, accounting for over 41% of our total leads – not just those from third-party websites.
While Zillow dominates, several other platforms also play a key role in driving tenant leads:
- Trulia: Over 10% of third-party leads. (Please note that Trulia is owned by Zillow.)
- Realtor.com: Nearly 10%
- Apartments.com: Close to 8%
These numbers highlight the importance of maintaining strong listings across multiple platforms to maximize exposure and attract qualified tenants.
Direct and Referral Traffic
Although third-party sites account for the majority of our leads, our company website contributes approximately 6%. Many of those leads are directed to our website via social media or search engines, such as Google. Additionally, referrals make up about 3% of our leads. These may be tenant or owner referrals, as well as tenants who move from one managed property to another, or those who return to us after living elsewhere.
Leads That Convert to Tenants
After looking at all of the data on which leads converted to signed leases, our tenants came from the following sources:
- Third-party websites: 85.71%
- 901RES website: 10%
- Referrals: 4.39%
Of all leads who became tenants in 2024, a whopping 48.57% came from Zillow alone.
Why We Prioritize Digital Marketing
Given that the vast majority of our leads come from online sources, we invest our time and effort most in digital marketing strategies that enhance listing visibility. Our approach emphasizes:
- Creating high-quality, search-optimized listings that stand out on competitive platforms.
- Prioritizing major third-party sites where renters are actively searching.
- Leveraging social media and digital outreach to drive traffic to our website.
By focusing our marketing efforts where the leads originate, we help property owners fill vacancies faster while ensuring prospective tenants find their ideal homes.