Multifamily leaders know how to get s̶h̶i̶t̶ stuff done.
Through ruthless prioritization, we’ve seen leasing teams repeatedly hit their goals. Occupancy numbers, retaining renters longer, and increasing renter satisfaction, to name a few.
But the one thing multifamily leaders need more of right now is qualified leads.
Are we shocked? It seems silly. Most companies need more leads because it equates to more revenue. But now, more than ever, leads seem to be an issue. Layoffs, the economy, seasonality, and budget constraints are all reasons we believe renters are holding tight on moving and staying put, resulting in fewer leads for properties.
Decision-makers are adding this issue—and two other items—to the top of their priority list.
Kristi Fickert, a multifamily expert, spoke with 10 Multifamily Marketing Directors about their top three priorities for 2024.
These Directors’ companies ranged from NMHC’s top management companies to smaller PMC’s, but the themes were the same. Read on to see what they shared with Kristi.
Converting More Leads
Marketers have always been tasked with doing more with less, but now they’re especially feeling the pressure to convert at higher rates, to allow for the pullback of ad budgets while carefully working to not negatively impact leasing or property performance.
Softening markets have been mentioned, but also fraud and a marketer’s responsibility to drive and convert QUALITY leads.
Creating More Operational Efficiencies
It’s not just about working ‘smarter, not harder’, but about creating scalable ecosystems that complement one another.
While there are still some silos that are unavoidable due to the nature of how some multifamily tech stacks are built (#freethemfdata), there will continue to be an emphasis on removing overlap, consolidating where possible, and automating – but with a human touch.
Reducing Staff turnover
When marketers don’t have boots on the ground to carry out their marketing strategies at the local level, it paralyzes their efforts.
As an industry, we have hyper-explored new systems, technology, and solutions these past few years, and while many of these are crucial, it all starts with having secured, high-performing teams in place to make implementations and strategies come to life.
What Are the Future Trends in Multifamily
Our take is future multifamily trends will rely heavily on solving the issues multifamily experiences today with technology. In other words, technology will evolve to support leasing teams to generate more qualified leads, create better operational efficiencies, and reduce staff turnover.
Plus, advancements in tech will only push renters to want a more convenient apartment search process. We’ve seen renters contact more real estate agents to do the legwork in searching for apartments and present a document of available apartments via video. On the flip side, leasing teams save time—and their sanity—by offering virtual tours before an in-person tour to ween out unqualified leads or unnecessary in-person tours.
Why? One word: Convenience.
Renters and leasing teams alike want less work and more streamlined workflows. It is multifamily’s responsibility to recognize, adapt, and offer a convenient apartment search experience for both renters and leasing teams. And Realync can help.
Let video tours and video communication add convenience to the apartment experience for your renters and teams. Get started today.