According to numerous multifamily housing ad experts, Craigslist will likely move to a pay-per-post model for apartment listings in major U.S. metros within the next year or so. Apartment marketers have been expecting a broad move to a pay-per-post model ever since Craigslist’s 2006 decision to begin charging $10 for brokered New York City listings. The move is more likely now, as the San Francisco-based company has seen the pay model help significantly reduce illegitimate listings in high-volume growth categories, such as apartment listings in large urban markets, as originally reported in MFE.
Axiom Marketing President Ron Simoncini expects Craigslist to begin charging on a market-to-market basis, with metro areas that have a larger volume of apartment listings—or those beset with spamming issues—falling first. He concludes,
“Ultimately, I don’t think it will take more than three years to have nationwide pay-for-listing status for apartments. I think you’ll see them add the entire top 25 MSAs within the next 18 months.” NAA members responded via NAA social media channels. “Craigslist has been a major source of leads for us. As long as the cost doesn’t get outrageous, we will probably pay it—may have to post less, though,”
Terie Blankenbaker, Research Properties, Louisville, Ky., wrote on Facebook. Others commented on the #aptchat Twitter feed (visit www.aptchat.org).
LaurelZ: With CL charging, if I can’t afford to waste a single post, I better know likelihood for success ahead of time.
30lines: @LaurelZ So more important than ever to test headlines and best times to post, right?
misty_browning: We will have to stick to a budget. 3 ads a day gets very expensive.
Some participants signaled that their communities would accept charges of $5 to $10 per listing.
NAA Survey Says
NAA’s weekly e-newsletter Industry Insider posed a multiple-choice survey and received 63 votes. Following are the results:
Q: Craigslist reportedly will begin charging $10 for apartment listings within the year.
As a result, your number of posts will: Percent Decision
63 Decrease
3 Increase
24 Not change
10 Not sure