Digitizing Multifamily Leasing: The Continued Evolution of Online Conversion

In today’s fast-paced world, technology is revolutionizing how multifamily properties connect with potential residents. Digital tools and marketing technologies like virtual tours, remote property showings, and other cutting-edge solutions have become essential for capturing attention and turning leads into leases. Let’s explore how these tools are reshaping multifamily marketing and driving success for property managers and leasing teams.

Meeting Prospects Where They Are

The modern renter begins their search online, often long before they step foot on a property. Recent studies highlight the significant role of online resources in apartment hunting. According to the National Apartment Association, approximately 98% of apartment seekers utilize online tools during their search, with 20% relying exclusively on these digital platforms (National Apartment Association). Additionally, a survey by TransUnion found that two-thirds of renters prefer conducting research online through their laptops, computers, or mobile devices (TransUnion Newsroom). These findings underscore the importance of digital tools like virtual tours and 3D walkthroughs and how they can empower prospects to explore properties at their convenience, eliminating the need for initial in-person visits.

• Virtual Tours: Platforms and firms like Realync and LCP Media enable property managers to create immersive experiences. These tools allow prospects to navigate a unit as if they were physically present, showcasing key features and spatial layouts.
• 360-Degree Videos: Hosted on platforms like YouTube or property websites, these videos provide a dynamic, shareable way for prospects to experience properties visually.

By offering these tools, multifamily marketers meet prospects in their comfort zone, enhancing convenience and accessibility.

The Power of Personalized Experiences

Technology doesn’t just provide convenience - it offers personalization. Prospective renters appreciate content that feels tailored to their needs, and digital tools are excellent at delivering this.

• Interactive Floor Plans: Tools like Engrain allow prospects to select their desired floor plans, view real-time availability, and visualize furniture placement.
• AI-Driven Chatbots: Integrated on websites or leasing platforms, chatbots engage prospects with personalized responses, answering questions about amenities, pricing, or leasing processes. Image source: Dyverse Website Template + Wyse Chatbot

Personalization builds trust and makes prospects feel valued, increasing the likelihood of conversion.

Bridging the Gap with Digital Showings

While virtual tours are powerful, live digital showings offer an additional layer of engagement. With tools like Zoom or FaceTime, leasing agents can guide prospects through a property in real time, answering questions and highlighting features.

• Interactive Live Video Tours: Live digital showings using tools such as Facetime on iPhone devices, mimic in-person tours, making the experience feel intimate and tailored. Prospects can ask about specific details, like closet sizes or appliance features, creating a two-way dialogue.
• Enhanced Scheduling: Integrated calendaring tools provided by CRMs and tour application providers such as Tour24 streamline the scheduling process, allowing prospects to book showings instantly.

This personal touch helps build relationships and provides a seamless transition from online browsing to lease signing.

Leveraging Analytics to Optimize Efforts

Digital tools not only attract prospects but also provide valuable data to fine-tune marketing strategies. Platforms such as Dyverse’s Kyzen Analytics offer insights into how prospects interact with property websites, virtual tours, and other digital marketing channels.

• Tracking Engagement: Proper website and conversion tracking set-up reveals which floor plans or units perform best, where prospects spend the most time, and which features attract the most attention.
• Identifying Pain Points: By analyzing drop-off rates or common inquiries, property managers can identify barriers to conversion and address them proactively. Image source: Kyzen Analytics Reporting Dashboard

Data-driven decision-making ensures marketing efforts remain effective and efficient, ultimately leading to higher conversion rates.

Increasing Accessibility with Mobile-Friendly Solutions

With mobile usage at an all-time high, ensuring digital tools are mobile-optimized is essential to success. Prospects should be able to browse listings, view virtual tours, and schedule showings seamlessly from their smartphones.

• Mobile Apps: ILS platforms like Apartments.com and Zumper provide dedicated apps for apartment hunting, making the process easy and intuitive.
• Text-Based Engagement: “Text now” features on property websites allow property managers to communicate directly with prospects via text, offering a convenient and quick way to answer questions or share resources.

A mobile-first approach ensures properties reach prospects wherever they are, increasing the chances of engagement and conversion.

Enhancing the Leasing Journey with Follow-Up Tools

Converting prospects doesn’t end with a virtual tour or showing—it requires effective follow-up. CRM tools like Elise or Hyly make it easier for leasing teams to stay in touch with prospects.

• Automated Email Campaigns: Send personalized follow-ups with leasing details, upcoming promotions, or move-in specials.
• Centralized Communication: CRMs keep all prospect interactions in one place, ensuring no lead slips through the cracks.

A well-executed follow-up strategy keeps your property top-of-mind and encourages prospects to take the next step.

Looking Ahead: The Future of Multifamily Marketing Technology

As technology continues to evolve, multifamily marketing will become even more dynamic. Emerging trends like augmented reality (AR), virtual reality (VR), and AI-driven tools promise to make property marketing even more immersive and personalized.

• AR Furniture Placement: Imagine prospects using their smartphones to visualize how their furniture will fit in a unit. Tools like IKEA Place already showcase the potential of AR in property marketing.
• AI-Powered Recommendations: AI algorithms can analyze user preferences to suggest units or amenities most likely to resonate with individual prospects.

By staying ahead of these trends, multifamily properties can maintain a competitive edge and continue to attract and convert prospects effectively.

What’s the Right Tool for the Job?

Digital tools and marketing technologies are no longer optional in multifamily marketing—they’re essential. From virtual tours and digital showings to personalized follow-ups and data-driven insights, these tools provide an unparalleled opportunity to engage prospects and turn them into satisfied residents.

As the industry evolves, embracing these technologies will be critical for success. By investing in the right tools and strategies, multifamily marketers can create meaningful connections, streamline the leasing journey, and drive long-term growth.