Multifamily Leasing Tips That Generate Results in 22-Minutes
Leasing teams need technology solutions that actually make their day-to-day operations smoother, more efficient, and have real results like a signed lease in 22 minutes – site-unseen (this is a true story!). Video can generate more qualified leads and reach prospects in other states.
Continue reading below to learn more about how video can improve your leasing efforts. If you found this information helpful, subscribe to the Realync newsletter to learn more!
Multifamily Leasing Tips
If you are a leasing agent in the multifamily industry, you understand just how important it is to ensure your occupancy rate remains as high as possible. Right now, there are a lot of multifamily communities that are looking for ways to keep their units filled. Particularly in the current environment, leasing agents need to place their best foot forward every time. That is why it is helpful to take a closer look at a few of our multifamily leasing tips.
If you are wondering how to close a rental deal, it may be helpful to take a look at a day in the life of a leasing agent. There are many leasing tips that agents should follow. For example, you need to prioritize communication every step of the way. This means that you should communicate with anyone and everyone who reaches out to you for assistance. If your current residents need help, you need to assist them as quickly as possible so that you can emphasize them to renew their leases. Residents notice you going above and beyond and will want to renew their lease. If there is someone interested in learning more about the community, make sure you respond to them as quickly as possible to know you’re available. Another critical step is to take advantage of virtual leasing opportunities.
Virtual leasing has a variety of benefits for you, prospects, and residents. Virtual leasing will significantly expand your catchment area. Instead of requiring everyone to come to your building, give prospects options physically. There are some cool virtual leasing tips that you should follow to get the most out of this opportunity. What do you need to keep in mind if you would like to maximize your virtual leasing touring capabilities? How else can you convince someone to sign a lease?
Apartment Leasing Tips and Tricks
If you are wondering how to close a lease quicker, you should take a look at a few of our leasing agent tips.
If you are wondering how to close a lease, you should take a closer look at a few of our leasing agent tips. There are several apartment leasing tips and tricks you should follow. Remember that it is important to prioritize communication. If you have someone interested in learning more about the building, you should reply to them as quickly as possible. Furthermore, make sure you follow up. Just because they did not respond to your initial text message or email doesn’t mean they are not interested. Therefore, it’s important for you not to go more than 48 hours between touchpoints. That way, you keep your community top of mind.
In addition, you also need to think carefully about how you are going to market your open units. For example, you should post on ILS, social media, your website, etc. Think about where your target market is. What do you look for in your ideal resident? Then, make sure you target that market specifically. You might be interested in using an email drip campaign. You may be interested in taking advantage of social media. All of this can be helpful if you are looking for ways to increase the number of leads you have.
Of course, you also need to take advantage of virtual leasing opportunities. Sure, there is still going to be a place for physical tours. If someone shows up at the building and wants a tour, make sure you put on a great show. At the same time, you also need to invest in the right technology to help you take advantage of virtual tours. After the in-person tour, you should send a follow-up video of the apartment. That way, you can increase your chances of convincing someone to sign a lease. The more leads you generate, the higher your occupancy rate is going to be. You can use virtual touring technology to help you do exactly that.
Closing Techniques for Leasing Agents
If someone has reached out to you multiple times to learn more about the building, then there is a good chance they are thinking about signing a lease.
At the same time, many people get cold feet when they are signing on the dotted line. After all, this is a big decision, and people want to make sure they get this decision right. So what do you need to do to get them across the finish line? That is where it is important to look at a few of our closing techniques for leasing agents.
When it comes to leasing techniques, there are several tips you should follow. First, make sure you get to know the person as well as possible. That way, you can figure out exactly what they are looking for in the apartment building. If you can do that, you can show them exactly how your multifamily community checks all the boxes. Next, if you have multiple units available, then you may want to let them choose the exact unit they want to live in. There may be a specific location in the building that works better for them. Or, they may want to be closer to the gym. Consider giving them a choice. Finally, you may need to throw something into the contract to sweeten the deal. For example, you may want to consider giving a discount on the first month’s rent. Or, you may want to waive the security deposit. There are even telephone techniques for leasing apartments that could help you get the lease signed.
Ultimately, these tips are important because they can help you meet your performance goals for a leasing consultant. It can be challenging to convince someone to sign a lease. Therefore, you need to practice these leasing techniques regularly. This can go a long way toward helping you convince that person to sign on the dotted line. This can also help you increase the occupancy rate in your building.
Leasing Tour Tips
If you take a closer look at your leasing opportunities, you will quickly understand just how important the tour is. Right now, there are a lot of leasing tour tips that all agents need to follow. Even though there will always be a place for physical tours, it is essential to avoid reverting to the pre-pandemic state. The pandemic led to a lot of changes throughout all sectors of the economy. This includes the multifamily living community sector. Even though some of these changes are going to go back to normal, not everything will revert. This includes touring.
One of the most important leasing agent tools is your virtual touring technology. Now, there are lots of options available when it comes to giving a virtual tour. However, you want to make sure your touring experience is open, honest, real, and transparent. Potential residents do not want to see a CGI version of an open unit. They want to see the actual unit in which they might be living. That is why you need to take advantage of virtual touring technology.
There may be situations where there might not be any open units for you to tour. That is why you need to have a complete video library of every individual floor plan. That way, even if you cannot show someone the actual unit, you can show them a real tour of the floor plan. This shows prospects you’re prepared.
Finally, before you get ready to give someone a video tour, make sure you walk the tour route in advance. If there is any garbage, make sure you clean it up. Next, you need to make sure the unit looks like home. Remember, the other person is going to be living there. They want to envision themselves and their family living in that location. Lastly, do not forget to include the common areas on tour. This is a community, so you want to make sure you give them a tour of the entire area. These tips can help you get the most out of your virtual tour.
Pros and Cons of Being a Leasing Agent
Ultimately, there is a lot that goes into the job of a leasing agent. If you are wondering, “what is a leasing consultant,” this is someone who specializes in helping multifamily communities close leases, increase occupancy rates, and place themselves in the best position possible to be successful. Before taking a look at leasing agent jobs, it is important to assess the pros and cons of being a leasing agent.
One of the biggest benefits of being a leasing agent is getting to help people find their new homes. In addition, this is an opportunity for you to develop powerful connections with other people as you use your skills to build a happy community. Another major benefit is that leasing agents are compensated well. Even though leasing agent salary examples can vary from city to city, this is usually a well-compensated position. You may even have an opportunity to earn bonuses in the form of commissions.
The downside is that the job of a leasing agent can be demanding. For example, a lot of people like to take a tour of multifamily communities on the weekends. Therefore, there is a chance that you may have to work a few weekends as a leasing agent. This is something you need to think about before you decide to take on this position. Ultimately, the job of a leasing agent can be very rewarding. Therefore, you need to look at the job opportunities in your area and find an opportunity that is right for you. This can be a very fulfilling career.
Ready to Get Real?
Speed Up Lease Up
by providing construction updates and showcase your space without having to do hard hat tours.
PRE-LEASE OCCUPIED UNITS
by ‘showing’ them without having to physically tour the space by sending pre-recorded videos.
CONVERT A HIGHER PERCENTAGE OF YOUR LEADS INTO LEASES
when you receive notifications when prospects are viewing videos to cater your follow up.
SPEND LESS TIME TO CLOSE EACH LEASE
by removing roadblocks and barriers in the leasing process.
INCREASE SIGHT-UNSEEN LEASING
by making it a breeze for out-of-market leads to choose your community.
Improve Community Engagement
PROMOTE YOUR PROGRAMS BETTER
via pre-recorded videos by linking via social media or internal apps.
DECREASE MAINTENANCE REQUESTS
by creating maintenance videos.
REINFORCE COMMUNITY RULES
by receiving notifications when residents are viewing videos to know who has seen a message and who hasn’t.
REDUCE REPETITIVE QUESTIONS
because consumers retain 10% of a message when reading it via text, but 90% of a message when viewed in a video.
More Than Software
is available for every property utilizing Realync.
Make your video efforts consistent
with one set, standardized process and platform.
TRACK ENGAGEMENT And Usage
across your entire portfolio.
Partner with the Realync Team
to create a personalized training program to be rolled out across all properties.
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