115 TOURS SCHEDULED
2,550% RETURN ON INVESTMENT
1,235% LEAD LIFT PER PROPERTY
4.5% WEBSITE VISITOR TO LEAD CONVERSION
Barrett & Stokely, a third-party multifamily property management company based in Indianapolis, currently manages over 13,000 multifamily properties in nine states. With more than 40 years of apartment management experience, Barrett & Stokely has earned a high-quality reputation in the rental property management industry.
In December, Barrett & Stokely decided to arm the highly trained and customer-focused leasing specialists at four of its properties with a new tool, PERQ’s multifamily software, to help them better engage website visitors and close the leasing deal. “We really wanted to get people to stay on our sites longer, to enhance what we already have by adding the experience that PERQ provides,” says a Barrett & Stokely representative.
After watching a PERQ demonstration last year at the Indiana Apartment Association conference in Indianapolis, the team at Barrett & Stokely decided to implement the online guided shopping software on the websites of four properties: 82 Flats in Indianapolis; Ascent in Plainfield, Indiana; Crossroads Westside in Kansas City; and Axis on Lexington in Louisville, Kentucky. “Their numbers spoke very loudly,” says Barrett & Stokely. “They’ve been very good for us in the short time we’ve had them.”
The Barrett & Stokely team says the interactive software, which helps guide website visitors who are searching for an apartment through different experiences such as “Which Floor Plan is Right for Me?,” was extremely easy to implement. “It’s very intuitive, very easy, and the implementation team just takes it and runs with it,” says a team representative. “Going forward, if there are properties we are going to take over or if we’re building new ones, we’ll definitely consider PERQ.”
In just three months, Barrett & Stokely experienced a 1,235% average lead lift per Barrett & Stokely property and increased its average web to lead conversion by more than 3%. “PERQ is providing high-quality, good leads,” the team says, pointing out how the software measures lift to leads and conversions, while Barrett & Stokely measures success by the number of leases signed.
“We are seeing, on average, about one lease per week from their product, which is very good,” they say. “We are OK with that, but in the future, we want two leases per week; we’ve set very aggressive goals.”
The software assists website visitors who are potential renters by narrowing down the floor plan that best fits their needs, allowing them to schedule a tour of the property, say when they need to move, and walk through a pre-qualifying assessment. It helps to build a relationship with people instead of just “feature dumping,” says the Barrett & Stokely team.
“This product leads them through a comprehensive experience that gets them really thinking about our product, our property, a specific floor plan or a specific amenity to get them in a leasing mood,” they say. “People buy and lease from people they like. It’s just common sense. It makes it a lot easier if you like the person and can build a rapport. PERQ allows us to do that on a much deeper level.”
The software goes beyond just capturing the name and address of a web visitor; it produces high-quality prospects who know what they’re interested in, which makes the process of closing a lease much easier. “We’re starting to see a lot of the leads that first went through the experience coming back,” says the Barrett & Stokely team. “The return is much nicer than what you do with a standard ILS.”
With the opening of a new Barrett & Stokely property, Satori Flats in Avon, Ind., in June 2018, they plan to add the software to its website. Additional features like the personal finance calculator and community fit experience will soon be added to all five properties.
“I know the ROI is very positive. We plan to stick with PERQ on these properties, and add properties,” says the Barrett & Stokely team.