5-minute-golden-time-zone, and “1000-100-10-1” rule explained
It has been estimated that the interest into one rental may only last around 5 minutes from the time when the renter-hopefuls express the interest in one rental, to the time their attention move ahead to the next one.
In Culfidant real estate investing system, we have a quick rule of thumb called “1000-100-10-1” rule. Simply put, a rental should being seen by 1000 people, and inquired by 100 people, viewed by 10 people, before one A+ one is being matched.
When we combine the above 5-minute-time-zone with “1000-100-10-1” rule together, it is obvious that a prompt follow-up within the first 5-minutes to each and every 100 inquiries, in order to move the number down to 10 views. In other words, it is essential to reply promptly in order to rent out your home to the best candidates before they move on the next ones.
That is why we call this 5-minute as “5-minute-golden-time-zone”. It is where the gold is with a 5-minute deadline: you either have it or lost it.
In reality, this is where many individual landlords are struggling with:
- It is not realistic to reply every single time within 5-min, unless you are available 24-hr a day, 7-day a week.
- It is often a dilemma to reply or not, when you at work while receiving inquiries… sometimes it is simply out of question.
That is where CARMAP automated instant reply function beautifully come in and take care of this crucial function of replying within this 5-minute-golden-time-zone. Every time when tenants send an email inquiry, CARMAP will automatically reply it instantly. Click here for a demo.
Now, with this embedded CARMAP auto-reply feature, you can do whatever you like, while knowing all the inquiries are being taken care of instantly and automatically, which means your renting process moving ahead, without you even lifting a finger, just like a magic. Is it cool?