Self-guided VS Virtual Tours: Now is the Time

by May 21, 2020Blog, Innovation

The impact the pandemic has had on the multifamily industry is creating a domino-effect of rapid changes. From rent support to amenities and everything in between, every aspect of renting and leasing apartments is shifting. But before you can even get that tenant to their move-in date, you’ve got to sell them on their apartment first. And it’s pretty likely you’ll need to integrate either self-guided or virtual tours to make it happen. 

Early results from a recent poll we administered, 92% of respondents stated that they didn’t offer self-guided tours prior to COVID-19. Additionally, 64% replied that they didn’t offer virtual tours, either. Self-guided and virtual tours used to be an extra layer of opportunity for leads to tour an apartment. But with the current state of stay-at-home orders and social distancing in place, self-guided and virtual tours are now becoming an integral part of a leasing agent’s marketing stack. 

The benefits between the two vary slightly, so a best practice is to offer both self-guided and virtual tours. However, we’ve outlined a few differences below in case you need to choose one over the other.

Whether or not your prospects participate in a self-guided or virtual tour, follow-up is always important, and if you’re able to add a human element into the interaction, even better! A quick, personalized email can go a long way, as well as a phone call or other form of outreach that allows them to connect their experience to a person. We offer a slew of free email thought-starters to help you get your communication stack up and running. 

Even though we’re still collecting data, 50% of our survey respondents stated that they’ve seen higher conversion rates versus a year ago since implementing self-guided or virtual tours. And the cost per lead hasn’t broken the bank according to our respondents. A staggering 71.5% reported that the cost per lead has either decreased or stayed the same. This means the investment–whether time or money–is worth it. 

If you haven’t put thought into self-guided or virtual tours, now is the time. We can answer any questions you may have on how to get started. Drop us a line! We’re here to help!

We’re also still collecting data on this topic and would love to hear from you. By filling out this quick 2-minute survey, you’ll help us create more insights and tools to help you and your colleagues. Once the poll is closed, we’ll share the results with you too!