How can you make sure that prospective renters become repeat tenants? Your properties, amenities, and locations have something to do with it. But what truly sets your property management company apart from the rest is your customer service. Businesses with the best, most reputable customer service are the ones that will still thrive in times of uncertainty (ahem, COVID-19) and create repeat business.
Here are 5 ways you can make sure that your prospects are receiving the BEST customer service from your property management company:
Keep your response time as short as possible
Given the technology that's available these days, consumers expect fast communication. It's not enough to respond to an inquiry within a day or two, or even within a few hours. Response time is one of the most important factors when a prospect is deciding which properties to tour. In fact, one of the biggest misalignments in the real estate industry is actual response time vs expected response time.
A study performed by the California Association of Realtors discovered that 94% of consumers expect a response within 1 hour, yet only 36% of realtors respond within 1 hour. Even further, Harvard Business Review found that firms that respond within 1 hour of receiving an inquiry were SEVEN times more likely to qualify the lead than those who responded after that first hour, and 60 times more likely than those who responded 24 hours later. If you're not responding to your leads in that first hour of inquiry, you're losing business.
Provide the prospect with instant gratification
According to entrepreneur.com, instant gratification is "the desire to experience pleasure or fulfillment without delay or deferment." Instant gratification is mostly associated with the Millennial generation, but we see this on-demand mindset throughout our culture because of our access to lightning-fast technology and immediate information.
If a prospect wants to tour an available unit, they want - and expect - to be able to do that as SOON as possible. As they wait for a response from your team, they're shifting their interest elsewhere and you're losing business. This creates an obvious challenge for property management companies, as they have to try and keep up with this type of demand while juggling a million other things. But where there's challenge, there's opportunity: Giving prospects the option of on-demand tours makes them more likely to give you their business and it sets you apart from the competition.
Let the prospect feel in control
Everyone wants to feel like they're in control. But from a prospect's perspective, navigating the rental market is overwhelming and difficult. They have endless choices and options, making it hard for prospects to feel like they have much control over their decision. You can set yourself apart from other property management companies by letting prospects feel like they are in control. But how can you do this? You give them the option to schedule showings on THEIR schedule (like after 5pm or on the weekends) and at the HEIGHT of their interest. The prospect feels like a priority and your conversion rates go up. It's a win-win!
Make it easy for the prospect
This one probably goes without saying, but the easier the sales process is for a prospect, the more likely they are to become a customer. It may seem like common sense, but it's something you don't see enough in the real estate industry. Prospective renters have to jump through dozens of hoops when searching for a new home. If you can make part of the process easier for them - like using a simple, on-demand scheduling service - they will be much more likely to rent from your company than from a competitor.
Give the prospect a reason to become a repeat tenant
It's simple: The better the experience for the prospect, the more likely they are to become a tenant of yours.
With Showdigs, each prospect's experience feels unique and gives them real-time, instant gratification by being able to schedule a tour right then and there. Because of the excellent customer service and level of ease they've now associated with your property management company, they will look at the other properties you have. Thus, further ensuring that they will become your tenant.
Fast forward to when your tenant is ready to move again. They will be much more likely to move to another one of your properties because they know they can expect great service from you. Working with Showdigs allows you to build high-quality, long-lasting relationships that grow your business year after year.
Ready to start providing the best customer service possible? Click here to set up a meeting with our team!