Is Your Leasing Pipeline Leaking?

It’s Not Always About More Leads.

“We’re just not getting enough traffic!” Sound familiar? As a multifamily consultant, I hear this a lot. But “traffic” isn’t always the culprit. Often, the real issue lies within your team’s processes. Before throwing more money at advertising, let’s look closer.

Our experience shows that the quality of traffic and how your team handles it is more critical than sheer volume. Let’s tackle this head-on. Here are the first three questions every leasing professional should be able to answer:

1. “How quickly are we responding to online inquiries?”
   • Stop letting hot leads cool down! Minutes matter. If you’re not responding to internet inquiries immediately, you’re losing potential residents. Is your team prioritizing these leads?
2. “Where exactly did our last 25 move-ins come from?”
   • “Internet,” “drive-by,” or “referral” isn’t good enough. Dive deeper. What specific website? Which Google ad? Who made the referral? You need precise data to understand what’s working. Use your ILS dashboards and call tracking to get the details.
3. “Why did our last 25 residents move out, and how did they first learn about us?”
   • “They bought a house” is a cop-out. Dig deeper. Understand the real reasons for move-outs. And, critically, reconnect with how they initially found the property. This reveals if your marketing is attracting the right residents, and if your team is asking that critical “traffic source” question during the application process.

What If Less Leads Produced MORE Move-Ins?

It’s not just about generating more traffic; it’s about maximizing the traffic you already have. Focus on your team’s responsiveness, data accuracy, and understanding your residents’ journey. This will lead to higher conversions and better retention.