#VAMACON20: Does Your Prospects’ Perception of the Community Meet Reality?

Does Your Prospects’ Perception of the Community Meet Reality?

By Jennifer Carter

 

It’s not surprising that 84.5% of renters who participated in our Online Renter Study said they researched online before reaching out to a community. With a variety of online resources available to renters, the tour now comes down to a simple means of verifying what the renters have seen online. Renters are wondering “Do the pictures I am looking at online truly represent what will be seen when I get there?” when starting their renting journey.

Perception of Value Drives Rental Decisions - SatisFacts research demonstrates that the perception of value is the #1 driver for rental likelihood. What drives the perception of value for those in need of a new home? It is driven by the appearance and condition of your community. The average renter views 4 to 6 communities and after researching multiple websites renters have developed a mental picture of the community based on what they’ve seen and read online. The opportunity for the leasing agent to take a prospect on a tour of the community is to be able to show tangible proof, the online picture of the community, is in fact, the reality. Prospect are looking at things like; are the amenities in working order or do they an out of order sign or does the appliances look like the pictures online. The prospect is looking for transparency and in our most recent study we found viewing the model was ranked #24 (3.67) where viewing the actual apartment home came in at #3 (4.60). Prospects must be able to feel confident in the decision to live at a community and also feel confident in the management teams.

In order to increase renter’s likeliness to rent, your onsite team members must remember the following 5 key takeaways. 1. Tours are a means of verifying what was seen online. 2. Prospects are most interested in home features. 3. Being responsive will determine quality of service. 4. Focus on features that offer convenience. 5. Any disconnect can impact the leasing decision. Renters are on a journey every time when they decide to tour a community. Ask yourself: Are you adding to a renters stress and anxiety of finding a new home or easing their burden? Every step of their way, the renters are reviewing the physical aspects of the community and comparing them to what they saw online, in hopes that their perception meets reality.