Craigslist vs Facebook: Driving renter leads

Since IKOS launched our partnership with Facebook Marketplace, we’ve seen a drastic shift (and increase) in the number of renter leads we’re generating for our clients. Here's what we've learned so far...

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When it comes to driving the best renter leads, it's a battle of the behemoths, with Craigslist in one corner and Facebook in the other.

 

A few months ago, IKOS partnered with Facebook to instantly promote your rental properties on their fast-growing platform, Marketplace. The partnership is so exclusive that IKOS is one of only five companies that can automatically push rental properties to the platform!

 

First...what’s Facebook Marketplace?

 

Facebook launched Marketplace in 2016 and it has quickly become the go-to place for people to search for and find everything from used furniture and clothing to sporting equipment and baby items. Most people view Marketplace as a newer, better Craigslist. And the numbers support that. 

 

As Facebook Marketplace grew, Craigslist shrunk.

 

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Craigslist was founded in 1995 as an online community for free classified advertisements. After incorporation as a private for-profit company in 1999, Craigslist expanded into nine more U.S. cities in 2000, four each in 2001 and 2002, and 14 in 2003. By September 2007, Craigslist had established itself in approximately 450 cities in 50 countries.

 

But let’s be honest, it hasn’t changed much since then. But you know what has changed? The way that people shop - and look for apartments - online. 

 

Enter Facebook Marketplace. Facebook launched Marketplace in 2016 and  has quickly become the go-to place for people to search for and find everything from used furniture, clothing, sporting equipment and baby items.

 

And increasingly, people are using Marketplace as a primary place to search for rental apartments and houses. 

 

And while the introduction of Marketplace has definitely hurt Craigslist, another issue is at the heart of its decline. Once used by real estate agents, renters, homeowners, roommates, and more, Craigslist was a premier destination for finding local housing. What started as an excellent way for individual users to connect with people leasing their rental properties, has now morphed into a hotbed for scams.

 

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Why does Facebook Marketplace work so well for real estate?

 

As any marketing expert will tell you, the best way to reach your target market is to put your brand - or in this case, rental property - in front of them where they already spend their time. And, like it or not, people spend A LOT of time on social media. 

 

And, as of now, renters don't have to sort through duplicate posts and scams to find REAL PROPERTIES available for rent.

 

The results

 

Since IKOS launched our partnership with Facebook Marketplace, we’ve seen a drastic shift (and increase) in the number of renter leads we’re generating for our clients. And not only are the leads increasing, but they’re converting into signed leases at a higher rate than we’ve seen in the past. 

 

Need help marketing your property and generating high quality renter leads? If so, fill out the form below or email us at owners@ikoshq.com.