Digested from Survey Reveals Multifamily industry Has Room to Improve Approach to Sales
Multifamily Insiders (8/31/15) Davidoff, Donald
Although more residents may be searching for apartment communities online and on mobile devices, apartment community managers have been slow to adopt digital technology in their daily operations. Only 7 percent use touch-panel displays or digital kiosks in the front office, and just 15 percent use tablets in the leasing process.
More than 44 percent of apartment communities do not use a lead-tracking solution either, according to a leasing survey conducted by Multifamily Insiders, Yardi and SatisFacts. Multifamily Insiders blogger Donald Davidoff also questions the average closing ratio, which was 53 percent in 2015 and 49 percent in 2014, in part because of the small response pool for the survey but also perhaps because of some inflated perception of sales skills.
Most sales associates reported knowing closing techniques; however, many use antiquated practices to close the deal, with 60 percent required to ask every prospective renter for a deposit or application. What could be working for them, though, are some of these tools: 3-D floor plans and furniture placement apps, online applications, physical tours of sample apartment homes and models, and knowledgeable sales teams.