A peek behind the curtain… Our most popular listing

We just took over management of a few properties in the museum / midtown area. One of them had a small studio unit. The previous owner listed it for $550 in the past so we decided to honor that pricing. It’s nothing fancy. And it’s small. But it’s in a good area and part of a small 5 unit property.

We received so many inquires on that listing that it actually caused our average total daily inquires to double. Which is crazy given we manage about 1,700 units. At the very end of the week the increase vs. the previous dropped as this unit was taken off the market.

The info below is only capturing people who emailed us via search sites like apartments.com, zillow, har, etc. and does not capture people who saw our listings and called.

In total, in the week it was live, over 100 people inquired about that unit through search sites. I’m proud to note that we responded to each one (the reason I’m proud of that is we hear from prospects all the time that they email listings and never hear from property managers. We make sure everyone gets an email and a text back within 15 minutes, and we normally follow up a few times after that. Here is an old owners blog on the topic).

Even though this listing got a lot of attention, it tracked with our normal response rate of about 20%. Meaning of the 100 people who emailed us about it, only about 20 of them replied to our text/emails back to them (which is no problem as we understand many people are just browsing on those sites and don’t really want to be contacted).