Designed to help agents unearth buyer leads from renter databases, RentSpree’s new tool will now be available to the 6,000 members of Central Florida’s Space Coast Association of Realtors.
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RentSpree’s latest residential sales tool, Homebuyer Insights, has found a customer in Florida’s Space Coast Association of Realtors, Inman has learned.
Situated across Brevard County in Central Florida, the Realtor organization’s 6,000 members will now have access to Homebuyer Insights, a tool designed to unearth buyer leads from renter databases using public records to determine how likely a renter is to purchase a home in the next 18 months, executives said.
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“Many agents have a tough time identifying and staying on top of their rental clients who may have the potential to become a buyer sooner than later,” RentSpree CEO Michael Lucarelli said in a statement. “Cold calling can be such a futile way of trying to find those potentially in the market to buy a house.”
With the Space Coast partnership, RentSpree now boasts a network of more than 300 associations and MLSs. Those members typically use ApplyLink, a single browser solution that automates application collection, screening, approval and other operations critical to securing occupancy, executives said.
Homebuyer Insights will send new leads directly to Space Coast members using only their existing stable of renters. In short, it’s a warm lead,with more value for agents, especially those who took the time to provide support to a renter.
Brevard County, a region of second homes fueled by the aerospace industry, has seen a rising demand for housing driven by a growing population, which surpassed 600,000 residents, according to the 2020 census.
“RentSpree’s Homebuyer Insights was developed using data science based on public records, such as home ownership as well as rental application data, including income, employment duration and age. Combining this information can help predict how likely a renter is to purchase a home in the next 18 months,” the Los-Angeles-based company said in a statement.
RentSpree stated in the release that Lucarelli is a frequent panelist at Inman events and has made inroads by encouraging agents to pay attention to the rental market’s tremendous value.
RentSpree first launched in 2016 in an effort to serve landlords and property managers, but in recent years has found traction in supporting residential agents’ who work with renters. The company has partnered with multiple listing services to encourage agents to “fill in the gap” with the rental market and created ways for agents to better market their skills to aspiring buyers.
In a May 2024 report, REcolorado CEO Gene Millman said partnering with RentSpree in a bid to work with renters added value for listing and buyer agents.
“Renting is commonly an entry point into the market for prospective home buyers,” Millman said. “Enhancing our offerings with rental technology will not only give another avenue for agents and brokers to provide value to their clients but will also streamline the process of helping renters find their next homes.“
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