RentSpree’s new tool, designed to help agents uncover buyer leads from renter databases, will now be accessible to the 6,000 members of Central Florida’s Space Coast Association of Realtors.
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Located across Brevard County in Central Florida, the organization’s 6,000 members can now utilize Homebuyer Insights, a tool that is specifically designed to identify buyer leads from renter databases by using public records to determine the likelihood of a renter purchasing a home within the next 18 months, executives revealed.
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“Many agents struggle with recognizing and keeping track of their rental clients who may soon transition into potential buyers,” stated RentSpree CEO Michael Lucarelli in a press release. “Cold calling often proves to be a futile method of finding these individuals who are potentially in the market to buy a house.”
With the collaboration with Space Coast, RentSpree now has a network of over 300 associations and MLSs. These members typically utilize ApplyLink, a unified browser tool that automates application collection, screening, approval, and other essential operations for securing occupancy, executives confirmed.
Homebuyer Insights will deliver new leads directly to Space Coast members based on their existing pool of renters. In essence, these are warm leads that hold more value for agents, particularly those who have offered assistance to a renter.
Brevard County, an area of secondary homes driven by the aerospace industry, has witnessed a surge in housing demand due to a growing population exceeding 600,000 residents, as per the 2020 census.
“RentSpree’s Homebuyer Insights leverages data science based on public records, such as home ownership and rental application data including income, employment duration, and age. This combination of information helps predict the likelihood of a renter purchasing a home within the next 18 months,” the Los Angeles-based company stated.
In the release, RentSpree highlighted that Lucarelli frequently participates as a panelist at Inman events and has been advocating for agents to recognize the significant value of the rental market.
Initially launched in 2016 to serve landlords and property managers, RentSpree has recently gained traction in supporting residential agents who work with renters. By partnering with multiple listing services, the company aims to encourage agents to tap into the rental market and create avenues for agents to better showcase their skills to potential buyers.
REcolorado CEO Gene Millman mentioned in a May 2024 report that partnering with RentSpree to engage with renters added value for listing and buyer agents.
“Renting often serves as an entry point for prospective homebuyers,” Millman explained. “Enhancing our offerings with rental technology not only provides another way for agents and brokers to add value to their clients but also streamlines the process of assisting renters in finding their next homes.”
Email Craig Rowe
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