In today’s time of social distancing, virtual leasing has become an overnight necessity for apartment communities. Fortunately, however, the benefits of this new requirement extend far beyond safety. In fact, virtual leasing is getting such positive results that the practice will likely become a permanent fixture for most companies. Here’s why.
Higher Lead-to-Lease Conversion Rates and Shorter Sales Cycles
Quite simply, virtual leasing gives you the ability to show prospects what they want to see faster, which means increased lead-to-lease conversion rates and decreased sales cycles. Whether you use videos, 3D tours, or live interactive video tours, it’s all about establishing a connection sooner in the process and getting someone efficiently through the leasing cycle. Some communities have seen their lead-to-lease conversion rates double with virtual leasing.
Having a pre-recorded virtual tour for every floor plan, ideally, every unit, means you can pre-lease occupied units without ever having to show them. So even when we return to normal operating procedures, video assets will allow you to show currently unavailable units to prospects in an interactive way. Virtual leasing also works well for units that are under construction. In the age of HGTV, people understand construction and want to be a part of the process.
More Effective Advertising
Another benefit of video assets is better email performance. Email campaigns that include video links have been shown to increase conversation rates by 500%. If you’re working with a lead list right now because your physical traffic has dried up, think about putting some videos into your email campaigns to make them more engaging. Have someone from your team physically in front of the camera to humanize the message and get more clicks. The same principle applies to social advertising. A twitter study found that people retain 95% more of an advertising message when it’s conveyed through video.
To learn more about virtual leasing, check out Visto’s virtual leasing webinars:
- Virtual Leasing: Essentials for Today’s COVID-19 Environment
- Virtual Leasing: Creating an Authentic Leasing Experience
- Virtual Leasing: Training & Assessment
- Virtual Leasing: Using Technology to Boost Sales
- Virtual Leasing: Providing Excellent Service
And if you’re ready to truly master the leasing process, earn your National Apartment Leasing Professional (NALP) certification. Now through May 31st, all credentials are 20% off!