Get the right tools to attract real estate investors
As you know, when mom and pop investors look to buy rental properties, there have a different set of concerns compared to those they would have if they were living in the property.
That’s why you need to have the right real estate tools on your website to address multiple needs.
One of those tools is a map-based search app such as SpatialMatch. Because when you are helping buyers find rental properties to purchase, the first thing they obviously are going to need to know is “Where are the renters going to come from?”
CNN recently ran an article about the top markets to purchase rental properties.
And one of the first things they point out is – strong sources of renters.
Those sources may be places such as Sheppard Air Force Base near Wichita Falls, KS or oil fields near Lubbock, TX or 50,000 college students who attend the University of Florida in Gainesville, FL.
Now, in your market, you might not have 50,000 students coming into town every fall with daddy’s checkbook in hand looking to rent for four years.
But perhaps you do have some sources. And you can point out those sources with the SpatialMatch tool that combines an IDX with a map and neighborhood search data widget.
For example, say in your town there is a community college that is about to turn into a four-year college. There’s an opportunity for student rentals.
Or perhaps a company is going to build a huge call center and will need hundreds of young people (translation: renters).
When searching for a place to live, all of those people will want to live close to where they work or attend school.
And when their existing leases expire, they are going to be back in the hunt for a places as well.
With the SpatialMatch real estate search tool, you can pull up properties that meet your buyers criteria for square footage, price, taxes, etc.
Then you can pull up all the major sources of renters on the same platform and show the proximity to each one alongside the property. Perfect for creating the right picture.
SpatialMatch is ideal for combining all the information a rental property buyer needs.
There’s more. Say most of the best properties in close proximity are already sold or priced too high.
With SpatialMatch, you can also pull up all the local amenities where renters might hang out – sports bars, pizza parlors, sub shops, laundromats, artsy cinemas.
So, Property A might be closer to campus, but Property B is closer to ALL the fun stuff downtown and young renters certainly like to have fun.
You can point out that a lower property price will enable owners to also offer a lower monthly rental fee.
Now you’ve got a winning formula – cheap rent and cool places to hang out.
Embedded data and geo-spatial tools on your real estate website gives you the ability to address the needs of a variety of buyers.
When it comes to selling real estate, impressing buyers with technology that results in a nice commission check is certainly fun for agents and brokers.
