We are at a unique point in the housing market where the comfort of one’s home is more important than ever. People are motivated to find the right home to suit their needs. Unfortunately, finding a place to call home is challenging for many. Driven by low inventory, homes are selling faster than ever and at increasingly higher prices.
At the same time, rental housing occupancy levels are at record highs, pushing rents to unprecedented rates in some areas. This means that home seekers are more flexible when it comes to finding a place to live. Many would-be home buyers find themselves shifting focus to find the ideal rental home after housing inventory comes up short. And short-term renters, who are becoming long-term renters, are re-assessing their needs and moving to rental properties that better align with their long-term vision.
Home seekers are at a crossroads, looking at every option available for their next move. This is precisely why a hybrid home-finding site is needed in 2022. Home seekers will benefit from one place where they can find their perfect space, whether that be the purchase of a house or finding the right apartment community.
That’s why we’re excited to announce that Rent. Network advertisers can now enjoy exposure to Redfin’s audience of 47 million home seekers.¹
“With about one in five Redfin.com visitors interested in rentals, we have an opportunity to generate as many rental inquiries from Redfin.com as from all other Rent. sites. As a result, we expect to attract more property managers to promote their listings on Redfin.com, and for Redfin.com traffic growth to accelerate,” says Glenn Kelman, Redfin’s CEO.
Who is Redfin?
Redfin is a technology-powered real estate company with a mission to redefine real estate in the customer’s favor. Boasting more than $200 billion in home sales and over 100 markets in the U.S. and Canada, Redfin runs the country’s #1 real estate brokerage site.
In this powerful partnership with Rent., Redfin is opening the door for our clients to tap into its massive audience. And similarly to their mission to ‘redefine real estate’ for their customers they are committed to transforming the rental market for property operators and renters alike.
Why rentals on Redfin and why now?
As we’ve seen in the market, many searchers want to see all options when it comes to finding the perfect-fit place to live. Prospective homeowners are also open to renting if it means they can maintain a higher quality of living, grow their savings for longer, or stay in their current area as costs rise.
Rental property owners should also be on the lookout for current homeowners who have an appetite to rent in the future. Confidence is high for owners and it is truly a seller’s market in many areas of the country, making it a perfect environment to cash in on homes and rent instead.
The big benefits for Rent. advertisers
Rent. customers will see a boost in their listing traffic. This partnership will give them access to 47 million monthly visitors to Redfin.com. In this period of high demand, we also understand that the quality of renter leads is a must for busy leasing teams. With tailored filters that help renters find their best options, we will deliver leads that have the highest potential to convert. As a result, your team saves time in filling occupancies.
The launch of rental search on Redfin is an immediate benefit for the existing property owners and managers who rely on the Rent. Network to connect with serious tenants, fill occupancies, and manage properties.
“Whether you are managing multiple apartment communities or are an individual landlord, Rent. has the consumer reach and marketing tools to make the process of finding and signing new tenants simple and efficient. With Redfin’s popular consumer website and app and Rent.’s deep knowledge of the rentals business, we have the best team in the industry to simplify the rental search experience for renters while driving occupancies and operational efficiency for property managers and owners.”
We can’t wait to see your listings on Redfin!
The Rent. network listings are live as of March 23rd, 2022 on Redfin.com as well as iOS and Android apps. With access to 47 million more high-quality potential renter leads, property teams and Rent. advertisers have a lot to celebrate! They will be primed to take full advantage of this complex, highly active market with the sophisticated technology needed to streamline lead generation.
For more information, check out the full press release here.
¹ Redfin Corporation Q4 2021 Earnings Conference Call, Feb 2022.