Getting the Lead-to-Lease Conversion Numbers You’re Looking For

By: Ibby Ahmed

Recent grad from Indiana University with a passion for content creation, an adorable pup named Suki, and a newfound love of creating multifamily TikToks.

Lease to lead conversion is one of the most important metrics for multifamily properties and also one of the toughest to see growth and improvement. A study done by MarketingSherpa found that 79% of leads don’t convert due to a poor lead management solution. Luckily, in the last few years, multifamily and property management in general has seen a lot of innovation in technology solutions that center around lead management.

 

FOLLOW-UP & LEASING AI

One of the biggest breakthroughs in multifamily tech is the rise of leasing AI. AI Leasing Assistants are able to effectively manage your pipeline and only hand off qualified leads that are ready to talk, tour or lease.

 

A huge component to increasing your lead-to-lease conversion numbers is having good follow-up and lead nurture. The problem is, with an increase in online leads, onsite teams are overloaded and are unable to spend the time they need to only work on qualified leads who are more likely and more ready for leases. This is where an AI Leasing Assistant goes to work.

 

PERQ’s AI Leasing Assistant knows when to follow-up and when to reel it back in so as not to bombard the prospect’s inbox. With PERQ’s AI Assistant, the follow-up can be personalized to fit your brand colors and your brand voice. While the messaging is still coming from a bot it’s more personalized to your property and more effective in meeting today’s consumer buying habits. It isn’t just a standard follow-up email template or apartment tour follow-up email template.

 

It uses the data that the AI Assistant has collected on the prospect during their time on your site and through any messaging with the chatbot. It knows exactly what the prospect is looking for and when. The follow-up is much more personalized to the actual prospect too. The best part is that the leasing specialist has access to all of this data and messaging between the AI Assistant and the prospect. With better automated follow-up and lead nurture leads to better conversations between the onsite team and the prospects.

 

To the right is a sample follow up email to prospective client through PERQ’s AI Leasing Assistant. You no longer have to Google “how to follow up on a prospect to lease an apartment” because the AI Assistant does it for you and does it efficiently. This isn’t just fiction, it’s backed by the increase in lead to lease conversion.

 

SUCCESS FOR UNIFIED RESIDENTIAL

The only way to truly know if AI Leasing Assistants improve your lead to lease conversion is to see the data and success. Unified Residential, like many multifamily companies, wants to improve their lead to lease conversion especially after the massive increase in online leads in recent years.

 

Dalia Kalgreen, Director of Marketing, decided to hire PERQ’s AI Leasing Assistant for the job. The numbers speak for themselves. Unified increased their website conversion 3X and their lead to tour by over 83%. “It takes a lot of time for your leasing team to sift through what we call ‘looky-loos,’ when they could be working on more serious leads,” says Kalgreen.

 

Having the AI Assistant work on their property websites has increased their operational efficiency and made their website more engaging and interactive. This means that prospects are staying on their website longer and looking at more info. You can read more about Unified Residential’s success and see just how many of their metrics improved after hiring PERQ for the job.