Virtual leasing is likely a phrase you’ve heard through in many multifamily circles and resources. And for good reason! It’s quickly becoming a necessary option for today’s leasing agents to acquire leads and sign leases.
Considering the adoption of virtual interaction in nearly all industries, it makes sense that, along with virtual video tours, the multifamily real estate industry took on virtual leasing. But, what exactly is virtual leasing? The good news is that it’s fairly simple to understand and, with the right technology, easy to use.
Even before COVID-19 and the restrictions that came with it, virtual apartment leasing was gaining momentum. So, read on to discover what virtual leasing is and how will it work for your prospective residents.
What is Virtual Leasing?
Virtual leasing may sound like a scary buzzword or something that’s too “out there” for your team or prospects. But, trust us. It isn’t.
Virtual leasing consists of everything a leasing agent would do in person, only moving it to virtual. Depending on the prospect’s needs, a virtual leasing agent will connect virtually either throughout the entire lease process or part of it. Connecting virtually includes meeting with the lead initially – something that used to only be done when the prospect physically came to the property or, at the very least, over the phone. With leasing virtually, agents can meet with their clients face-to-face — but virtually. This allows for prospects and agents to start building trust even from a difference. Plus, it’s when and how the client wants to meet – while gaining the human-to-human interaction a simple phone call lacks.
The Next Step in Virtual Leasing
The next step in multifamily virtual leasing is, of course, the tour. Virtual apartment tours are one of the best parts of virtual leasing. They allow agents to show prospects the space, answer any questions, and provide all the insights necessary to make the prospect feel secure in their choice. It also allows for a level of personalization, authenticity, and transparency. Basically, virtual leasing tours give the prospect everything an in-person tour provides. But, yet again, it happens on their timetable and according to their comfort level. You can provide a prospect an entire live tour of their exact unit, follow up with a pre-recorded and personalized video of other areas of the community, all without them setting foot on the property.
Then, even if a prospect has come in person to visit the community at some point on their leasing journey, virtual leasing allows agents to finish the process virtually. From submitting any and all applications to providing detailed move in procedures and more – it is everything you would do in person but more convenient. It also allows for a more interactive, trust building client experience than basic emails or phone calls.
Simply put, vIrtual leasing is the next generation of leasing. Don’t be surprised to see virtual leasing agent jobs or remote leasing agent jobs from a virtual leasing agency in the near future! So, now that you know what virtual leasing is, let’s talk about how it can work for you.
How Does it Work?
In reality, virtual leasing apartments isn’t all that different from what you do now. With the right technology, it’s simple. The right virtual leasing systems allows your team to be technology enabled to support virtual leasing, offering it as an option for prospects no matter where they are. Rather than forcing someone to come down in person to the property, virtual leasing tools give your leads the option to make the leasing process work for them. It also allows you the opportunity to build trust and do what you do best in a virtual environment.
If you are looking for virtual leasing ideas, virtual leasing tips, or virtual leasing best practices – you’ve come to the right place. Our blog offers great resources that will help you be a virtual leasing pro in no time. Curious about the best-in-class virtual leasing software? Request a demo today.