In the 21 century, technology has dominated almost every industry, including the real estate industry. All these industries have one common goal, to make things easier. Focusing on real estate, one of the technologies in the market is the self-guided showings. It’s an old idea which has been modified to suit the current wants in real estate. This method has been used in the US for years, mostly in multifamily and vacation rentals. Self-guided showings include use of 3d property tour and smart locks. Recently, people are now using robots to aid in self-guided showings. They provide guided tours through properties, basing property management online.
As many may ask, are self-guided showings efficient, does it make sense? Many managers are afraid that self showings may slow down the leasing process or lead to bad customers’ experience. What they don’t know is that tenants love self-guided showings and have a better experience than any other method. Some even request not to be undisturbed during this shopping experience. For property owners, they just love how their property is being rented in days instead of months as it used to be. Time saved from not scheduling and conducting property shows can be utilized to give better customer care services to strong leads in the leasing flow.
Traditionally, a property manager was required to organize for an in-person showing with a prospective renter, which requires a lot of back and forth communication. Typically, a prospect was required to book a date that they would be free to view the property, which was no guarantee that the prospect would show up. This is one of the biggest pain a property manager goes through. At the end of the day, the manager would waste both time and resources. This process can get very hectic and hence not convenient for anyone. Self-guided showing can solve many these problems, being more convenient.
Ready to use self-guided showings in your business? The following are the tips on how to make a successful experience for you and your prospects.
Increase the process of lead-to-lease
Maximizing the lead to lease process results includes making sure that as many leads as possible are converted to tours. This might be a challenge if you are running your lease process offline. The speed used to respond to any inquiry determines the rate at which you convert a lead to lease. The slow you are the more likely you are to lose a qualified lead to the real estate company next door. The following are ways to increase the lead to lease process making use of modern technology.
Focus on quality leads
Avoid wasting your time and resources on weak leads, who do not want the property you have or simply do not fit. How? The solution will be setting pre-qualification criteria which will save you from wasting time, energy and resources chasing the wrong people. You don’t want to be a crocodile salesman.
Allow prospects to self-book showings
This is very important since it will banish the forth and back communication, the source of headache for most property managers. This can be done through the company’s website using listings widget. The widget allows the prospect to fill in needed information including their names, contact address, Gmail account and the date they would be available to view.
Give prospect renters the option to apply but also pay for the showings. This is an efficient way to make sure you are working with a qualified lead hence the possibility to close the sale will be high. However, it’s important not to overcharge the application fee to make more profit.
Enhance better self-guided showings experience
A scheduled site visit by a prospect is just but the beginning of the journey. After this, you have to make sure that the prospect gets a fluid experience while viewing the property, Prompting their curiosity to focus on details. The following are ways in which you can improve it through the process.
Integrate digital lockboxes
A digital lockbox is a replacement of a traditional lockbox, which has a web address instead of physical address. This lockbox is used to automatically generate and send new codes to prospects to access the property during the self-guided tour.
Provide specific details of the unit
This can be done using a one or two sheet of paper with reference details about the units; the type of kitchen, number of bedrooms, floor type and also the community amenities like swimming pool, parking area, kids play area, spur and sauna or gym. This will make the viewing much easier and also give the prospects time to recap on what they are looking for.
Take away floor plan
After viewing, it is important to provide a takeaway floor plan and the location map as a reference at home. Buying a home is a big step and a prospect will probably take time to think about the house. Having the floor plan and the location map will help them in making this decision.
Consistent communication is part of filling vacant spaces and also an important trait of a successful salesperson. I can never emphasize enough on the magical power of follow-ups. A follow up should start as soon as the prospect leaves the property area.
Research shows that less than 30% of salespersons keep up with prospects after they view the property. While some sales are closed within a week or days, some take up to months of follow up. Follow-Ups are a way of making sure that any question that the prospective renter a
May have answered to the details and earning the prospect’s loyalty. Also, it’s a way of making prospects feel valued. The following are tips on how to follow up clients after the self-guided showings.
After the prospect has already viewed the unit, send an email prompting them to give feedback on their experience and what they think about the property. This can be inconvenient to some people. Automated emails will solve this problem by sending emails regularly.
when communicating with the prospect, provide important information concerning the property. You can talk to them about nearby malls and sports centres, hospitals, schools, major roads, high investment returns. If it’s through social media, you can send them links to contents related to the property. This will keep them interested in the property
Perfect your opening statement
The fact that you are following up means that you have already made your first intuition. People can tell the difference between a salesperson who just wants to close the deal from an honest one who wants to build a relationship and help them in getting their dream house. Your opening statement always determines the rest of the conversation. Try to be engaging, memorable and share a common ground.
If a prospect is not pleased with the property, ask them their preference and suggest a unit that fits their interests. But if the client is interested in the property, guide them to the next step and close the deal.