How to Use Listing Syndication Software
December 28, 2020
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Using Listing Syndication Software
Listing syndication software acts as the middleman between you and all of the major rental property listing sites. It’s a quick and easy way to get your listings posted on the most visited listings sites with just a few clicks. Think Apartments.com, the Realtor network, Rent.com, and many others. Once you agree to pass publishing control over to the syndication platform of your choosing, they then use their market power to get your listing posted on the sites that matter.
With listing syndication, your listing is able to reach the widest pool of renters in a minimal amount of time. This means that your vacancy is filled quickly and with quality tenants — if you have a thorough applicant screening process.
The benefits of listing syndication software go beyond quickly filling units. Listing syndication also provides increased market exposure, saves time and money, increases tenant leads, consolidates feed management, and improves brand awareness.
It’s evident that listing syndication software is an invaluable marketing tool for landlords and property managers. For newcomers, though, learning all of the ins and outs of using the software can be overwhelming. Below, we go over a step-by-step overview of how to use listing syndication software to market your rental properties. By the end, you will be feeling confident in your listing syndication game.
Step 1: Write a Strong Listing
There’s no point in going through the work to get your listing posted on major property sites if it isn’t good enough to attract applicants. In fact, listing syndication software won’t post your listing if it has major errors.
No need to worry, though. Writing a strong listing isn’t as hard as it seems. Your primary goals when creating a listing is to accurately describe the rental property and attract prospective tenants. Here are 6 easy tips to help you create the perfect listing:
- Create a list of features to highlight.
- Accurately describe the property.
- Use adjectives carefully.
- Pay attention to punctuation.
- Include high-quality photos — and videos, if allowed.
- Cut out unnecessary information.
Step 2: Choose a Listing Syndication Platform
After you have the perfect listing, you need to get it out to prospective tenants. This is where listing syndication software enters the chat. There are plenty of software providers on the market, but it can be difficult to know which to go with. We’ll briefly cover a few key considerations to keep in mind when choosing a listing syndication platform.
What’s the size of the syndication network?
The size of a syndication platform’s network refers to the number of sites that it posts listings to. Because the primary goal of rental listing syndication software is to expose your listings to as many renters as possible, this should be one of your biggest deciding factors.
Are you able to include multimedia?
One of the best ways to attract renters to your listing is with high-quality photos of your property. A picture’s worth a thousand words, and all of that. Some syndication platforms allow you to post multiple pictures and even videos of your rental, while others allow for only one photo.
Can applicants apply directly through the platform?
Providing applicants the ability to apply directly through the syndication site isn’t a necessity, but it certainly makes the process more convenient for prospective tenants. If renters can fill out the application quickly and easily, they might be more inclined to apply.
What additional features are offered?
Sometimes investing in listing syndication software gives you access to features you didn’t even know to expect. Many property management platforms offer not only listing syndications, but also other landlord-specific features like online rent collection, tenant screening, online lease signing, and more. You may not have a need for these additional features, but they are important to keep in mind regardless.
Does it integrate with what you’re currently doing?
One of the main advantages of using a listing syndication platform is to minimize the amount of time you spend creating listings while maximizing the number of people that see it. You don’t want to create double work for yourself, which is why it’s also important to ensure your chosen software will integrate with any systems or services you’re currently using. That can mean it plays nice with property management software you’ve chosen or that the property management software itself includes listing syndication features. Either way, check to make sure you’re not creating extra work.
Is the price worth the service?
Now for the price. All listing syndication platforms are priced a little differently, but you’ll come across a few common approaches:
- A limited number of listings for free
- Monthly plans or subscriptions
- Pay per listing
The pricing approach that works best for you will be determined by the size of your real estate business. If you only have a few vacancies each year because your business is a little smaller, the pay-per-listing method might work best for you. But if you run a larger business and have listings to post every month, a monthly plan would probably be more cost-effective.
Innago is free property management software that includes listing syndication software as part of the overall package with no additional charges. We’re not the only one, but just know that it is possible to have all of this at no cost.
Regardless of the payment plan, you should ensure that what you’re paying is worth what the platform is offering. If they have a smaller network and only offer syndication features, you shouldn’t be spending an arm and a leg. The price should be consistent with the services provided.
Step 3: Check your Consolidated Feeds
Once you’ve chosen a listing syndication platform, it’s time to start posting. If your listing successfully posts, you’ll be given the portal’s reference number so that you can view the listing on the website.
Be sure to review your listing and check for anything that you might want to change. A good software provider will allow you to easily make adjustments even after a listing has been posted on rental sites. This becomes useful when important information changes such as the price of rent.
Also, if prospective tenants are able to apply directly through the syndication platform, be sure to check for activity regularly. You don’t want to miss out on a quality tenant just because you were mismanaging your feeds.
Having a consolidated feed makes it easy to stay on top of your listing’s performance across all advertising sites. You won’t have to jump from site to site to ensure that your listing is performing well.
Step 4: Revise your Listing if Necessary
If your listing fails to publish, you’ll be provided a detailed reason for the failure to post. You’ll then have the ability to adjust the listing based on the reasons given.
It might be frustrating for your listing to be rejected, but keep in mind that it is likely for a good reason. You don’t want to waste your own time having a listing posted that isn’t effectively attracting renters. It’s better to know right away that there’s something not working in your listing. This way, you can get it fixed quickly and start successfully marketing to prospective tenants.
You should now be feeling confident and prepared to start using listing syndication software. It may feel like taking on another expense is counterproductive when trying to grow your real estate business. Listing syndication, however, doesn’t have to cost you anything at all. As we mentioned above, there are plenty of free options on the market that provide most, if not all, of the important features we discussed above. Innago is one such option.
No matter which listing syndication platform you choose, it should now be evident that syndication software is an invaluable tool for any real estate business’s online marketing approach. Receiving maximum exposure for a listing in a minimal amount of time should be your marketing goal, and listing syndication software allows you to achieve it.
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