Leasing agent data is critical for promoting vacant units to your prospects. Many leasing agents believe they can sell prospects on a particular unit without knowing anything about properties nearby. However, without any context, you might not know what does and doesn’t make a certain unit competitive. In this article, we’ll explain why you need good quality multifamily data research as a leasing agent.
Leasing Agent Data Helps You Advertise Apartments
Context is incredibly important for many things, including promoting available apartment units. For instance, is it bigger or smaller than similar properties? Is the price on the high or low end of the average for the area? What features does it offer compared to nearby properties?
These are all valid questions that your prospects may ask. Seasoned renters know to ask about things in relation to other properties nearby. After all, everyone wants to feel like they’re getting a deal and good value out of their money. That’s why leasing agent data is so important. It helps you provide perspective and a frame of reference for every prospect applying, asking questions, and touring a given vacancy.
Here’s a great example that is even more pertinent for leasing agents today. Let’s say you have a one bedroom unit available for $1,500 per month. Without context, this may seem pretty pricey. However, when you take into account that median rent for the U.S. has risen above $2,000, it seems pretty reasonable.
As you can see, knowing information about your competitors, the national market, as well as the particular submarket is crucial for advertising with context and explaining the value of each unit to your prospects.
Types of Multifamily Data Research You Need
There are many different things to look at in apartment market data to help you lease more vacancies. Once again, think of it as a way to show your prospects a particular point of view about the unit.
Pricing, naturally, is a pretty important factor. Most renters have a particular price range in mind. However, they also want to make sure they get what they’re paying for. Therefore, you need accurate leasing agent data about apartment prices nearby and from the property’s direct competitors to speak to this.
However, let’s not forget that a good price isn’t the only thing that renters are looking for. There are many apartment amenity trends that your prospects may want or need out of their next apartment. For instance, with the rise in work from home jobs, many renters now require their unit to have things like access to high speed internet, a dedicated work space, as well as coworking areas. The pandemic has also made many people realize how important it is to have outdoor spaces and contactless tech. If a property you’re showing has these amenities, it’s important to highlight that to help prospects see the value of the unit.
Detailed Apartment Market Data from Apartment Data Services
Our team at Apartment Data Services is here to help you get the data you need about apartment markets. We offer data solutions that provide valuable insights for your needs, whether you’re a leasing agent, property manager, or other multifamily professional. Get in touch now to request a demo and see how our data services can transform your business.