Need More Leases Signed?
By Marketing Team, Summerfield Management
Increase your number of leases signed by reducing response time to incoming leads. Summerfield uses Lead Management software to do that and more.
By implementing Lead Management software, leasing staff are able to manage leads arriving via multiple channels (such as property’s website, social media profiles, and internet listing services) via a centralized hub, decreasing response time and increasing the number of leads turned into leases.
How does it help ?
The longer someone takes to respond to an inquiry, the lower the probability of signing a lease. Property management is a competitive industry, so if you want to sign more leases you need to respond quickly. Using a centralized Lead Management dashboard provides leasing agents with prospect contact information so they can respond fast.
Back and forth dialogue is available through a dashboard, whether the preferred form of communication is email, text message, instant message, or phone. Data is saved to the prospect’s profile so anyone on the leasing staff can quickly read communication logs or important notes (e.g., preferred move-in date, rent range, required bedrooms) and provide assistance accordingly.
Centralized data also allows for team-wide coverage in case a vital leasing staff member is out of the office or unavailable (especially important in the current COVID-19 climate). This service also allows a portfolio manager to keep virtual eyes on their site staff to make sure their team is properly doing their job when it comes to lead management.
Insight via reports
Besides speeding up communication and maintaining organized prospect data, another benefit provided by Lead Management software is the ability to generate custom reports on lead activity. While there are dozens of reports offered, below are three we recommend for increasing the number of leases signed:
- Box Score – This report tracks where each lead originated from, the total number of follow up communications they had with leasing staff, if they toured the property, and if they signed a lease.
- Ad Spend – This report focuses on paid advertising and calculates the cost-per-lead and cost-per-lease from each advertising source. This data highlights how successful marketing dollars are being used and if funds need to be reallocated.
- Response Time – This report highlights how long it takes the leasing team to respond to a new lead, grouping each lead into different time intervals. The longer the response time, the lower the odds of closing a lease. We instruct our staff to respond to every lead within two hours. This policy has resulted in a measurable increase in percentages of leases signed.
Lead Management software is the key to effectively managing your leads so you can sign more leases. Curious how Summerfield can help with this and more? Contact us.
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Summerfield specializes in the management of apartment properties that are approximately 125 units or larger, and is licensed to manage in Washington, Oregon, Idaho, Florida, Georgia, & South Carolina.