When I started RentVine.com a couple of years ago I started another site soon after called pmVine.com. My idea at the time was to make a kick @ss directory of all the property managers in the United States.
Well, I never got around to doing that. Just not enough time when I only work part time at this. RentVine keeps me so busy that I can’t handle another site.
I noticed recently a site provided an interesting service for people seeking a property management company for their home. It is call All Property Management. I have since emailed back and forth with Rodney Trepess the CEO of All PropertyManagement and now have a better understanding of how his site works.
Basically Rodney’s site helps property managers acquire new properties to manage. So they are much more than a directory like what I wanted to do with PmVine.com.
Rodney’s site ranks #1 for “property management” in Google, so a lot of property owners looking for property managers start with that search and then end up signing up with their site for a quote for services. Pretty neat business model.
I was reading through the long list of testimonials on Rodney’s site, and I would have to say a lot of people are very happy with the quality of leads they receive.
Just shows how powerful being ranked #1 on Google can be.
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8 users responded in this post
Seems like a valuable service! I do know they advertise real strong with google and yahoo.
Robbie
The thing is with All Property Management, unless it’s changed in the last year, is that you have to pay for each “click through” no matter if it’s a good lead or not. The profit margin in property management for being on call 24 hours/ 7 days a week is not huge so paying someone for owner leads can be a huge cost. I know that when I was with them I “received,” according to the list from them, many e-mail leads but I couldn’t attribute any one of those leads to a “closed” deal. I find that owners that see my web site and my listings all over the web site are better leads for me. I’m already spending money and time on advertising in the over 20+ sites, why pay another charge for leads that don’t pan out. At least this is my experience and for some areas and some property managers, this works.
For real estate sales there are several companies out there that sell “leads”. For some agents/brokers they work, while others they don’t. It’s just a choice that each person needs to make for them and their company.
Hey this is Rodney the manager of All Property Management and I wanted to reply to Wendy’s comments.
I thank Wendy for using our service and I’d like to offer her 30 days of free service to show her how our service really works, since it sounds like she did not take full advantage of the features our service offers.
Our clients don’t pay per “click through†they only pay for “qualified” leads. This means that a user needs to complete a lead form and the information they provide needs to match the criteria previously selected by the management company. The lead must also have a verifiable telephone number or email address. If a lead does not meet these criteria it is creditable and the entire lead cost is credited back to the clients account. We have a very straight forward credit system in place and we encourage all of our clients to use it.
When account is set-up correctly and a company is responsive to leads (phone contact in less than 24hrs) the close rate should be no lower than 30%.
I consistently have companies tell me they close more than 50% of their leads and that their ROI is better than 20 to 1.
Hi Rodney,
I have a question. What are the fees, do you buy zip codes or pay for management agreements on AllPropertyManagement.com? I have referred many managers to your site that are trying to build there business up. Please let me know so I can tell my clients the correct information. Thanks!
Rodney
Thank you for the offer. Here is my quandry though – if someone is contacting you via the web, shouldn’t contact be through e-mail, where you can provide them with more details even quicker, allow for “conversion”. If phone contact is the way that you want clients to work the leads, that goes against my company’s business model – full service through technology of today and in the future.
To clarify when we were members, many of the “leads” we received were outside of our area. The other large portion were looking for HOA managers but were not decision makers for the community. Neither of those two allow for a conversion in and of themselves.
Again, thank you. Wendy
Fees are charged strictly on a qualified lead basis. There are no programming fees, membership fees or whatever other fees some one can come up with.
Lead prices start at $18.00. If a company converts at a rate of 30% (company average) they are adding new properties for $60.00 a piece.
Companies that put the effort into setting up stricter listing parameters and are aggressively pursuing leads can do far better than this.
Wendy,
I understand your point about wanting to respond in kind. The lead is sent via email so sending an email back seems logical. The only problem is that you lose out on about 20% of your conversions. Our service has a built in auto-responder, an email that you get to compose that is sent to the user (property owner) immediately upon the lead leaving our server. This email should explain the process i.e. “Thanks for contacting company X one of our agents will contact you in the next 24hrs, if you need immediate assistance please call 888.888.8888â€Â. They now have an email and they may or may not call. The next step is phone contact and the scheduling of an in person meeting. I encourage all of our clients to have a designated contact for our leads, typically an office manager or assistant. Generally property managers and brokers are too frequently in the field and unable to respond promptly.
The internet is so impersonal users need to know there is a person on the other line. I understand that some businesses don’t have the resources to have some one making follow-up calls. If a company does not have these resources and cannot make prompt contact on leads, they probably are not suited for our service. To me there is no substitute for a friendly personal contact.
There is no reason to receive leads from outside of your area. When any company establishes service with All Property Management they are asked to define their service area. This can be done in one of several ways, this can defined by zip code radius, city, county, state or national. Companies can even give us a list of the zip codes they want their leads to come from. If for any reason a lead comes from outside your service area the lead is creditable.
On the topic of HOA management, we have recently added a field to the association lead form that asks users if they are association board members. This allows you to identify immediately if they are decision makers. On the whole we have seen huge growth in association leads, but not in the number of qualified management companies able to handle the associations. I’m not a property manager so I can only relay what I hear and this was a frequent conversation at the CAI convention in Vegas last month. These large association management companies want to grow because they see the Mom and Pop management companies dropping the ball. That is, an association tries a standard property management company and realizes that they are unable to handle their association needs. This is low hanging fruit for a company that specializes associations but the problem is they don’t have enough qualified managers in their companies to add the new accounts. I heard this over and over: “we want to use you guys (All Property Management) but can you first hire me a couple of GOOD managersâ€Â.
I’m really not sure where I’m going with this but I know companies that are adding associations like crazy but they first need to fill the pipeline. It appears that the close time on an association lead can be double the time required to close a rental property. There is always that pesky board to deal with.
But the final answer is, if HOA leads are not working for you don’t take them. You get to select exactly what type of lead you are going to receive. Currently we have 29 different property and association categories to choose from. You can pick and choose what you want, I have clients in one category and I have clients in all 29. If a category is not working cancel.
I know this is a lot of rambling but we have been consistently evaluating and improving our system based on feed back from the experts in the field (you guys). I see the system work for our clients over and over, even though it may not work for every company.
Rodney,
Thanks for the explanation about all the changes that you’ve made to your system. I do think it will help those individuals that want to work leads differently than we do which is fine. There are many different types of people out there thus the many different types of business models available with more coming each day.
As a member of the RealTalk community, an online Real Estate Group, I am connected with Real Estate Professionals across the world. The one thing that I hear often from them is, “Why pay for a lead if you can generate it yourself?” We all know that Real Estate Sales is different than Real Estate Management but I look at what Sales is doing and see how I can apply that to what I do. For some House Values works and for many more it doesn’t (lead generation for real estate sales). I’m sure that All Property Management will fall under the same category – for some it will work and for others it won’t. Again, this is why there are many different business models available, so the consumer can choose what works best for them.
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