webinar
Apartments.com
Best Practices for More Effective Apartment Listings
When advertising your available units on Apartments.com, what can you do to maximize your lead quality? In a recent presentation at this year’s NAA Apartmentalize conference, Arjun Anandan, group product manager for Apartments.com, shared the top ways to optimize your listings to reach the most qualified renters.
From which types of photos resonate best to what kind of details renters are looking for, Anandan shared data-driven insights to inform your advertising strategy in today’s market.
The increasing importance of online listings
In today’s rental market, renters are growing more mobile. Over 42 percent of renters are searching for an apartment from out of town, with renters moving to new metropolitan areas and across the country.
“We’re seeing this happen across the entire country,” Anandan said. “Folks from California are moving to Florida, folks from New York are considering Seattle, and folks from Chicago are moving to Texas, and we’re seeing this happen in droves.”
In a related trend, the number of renters willing to rent sight unseen has risen to 36 percent.
This makes the accuracy of online listings more important than ever, Anandan said.
Given these shifts in renter behavior, Anandan offered a three-step strategy for communities to optimize their Apartments.com listings to better attract prospective renters:
- Enhance your listing content with photos and reviews.
- Provide unit-level detail.
- Take advantage of lead technology to convert prospects more efficiently.
Which photos perform best?
Above all, photos and reviews help create a positive first impression to renters browsing your listings.
But what photos resonate the most with renters? Anandan shared the results of an Apartments.com analysis of 600,000 listing photos and identified those that drove the most clicks.
Within the four- and five-star property class, wide-pan shots of building exteriors and common spaces, such as pools and clubhouses, generated the most traffic.
These photos are not only beautiful but also “naturally draw the attention of renters” who are browsing through search results pages, Anandan said.
Within the three-star class, top-performing photos were typically of interior spaces, such as staged bedrooms, living rooms, and kitchens. Photos of bathrooms, in contrast, performed poorly.
When selecting a primary photo for their listing, properties should avoid selecting those of bathrooms, floor plans, and fitness centers. Anandan also discouraged posting images that include text overlays.
Why reviews matter
Like photos, reviews contribute to a positive first impression, with 98 percent of consumers describing them as essential in making a purchasing decision.
Within Apartments.com, listings for properties with at least one review received 50 percent more leads than those listings without reviews, according to a recent analysis.
“So even putting a little bit of effort out there to get that initial review pays a lot of dividends to get more leads,” Anandan said.
And if you work with survey and reputation services, make sure your Apartments.com account is synced to automatically populate your existing reviews to your listings.
What else can your community do to optimize your reviews? Keep them current. With 86 percent of shoppers saying it’s important for reviews to be recent. Reviews posted with the last three months are the most relevant to consumers considering an unfamiliar product or brand.
What’s more, you should also actively engage with your reviewers. Responding to reviews, both positive and negative, can increase your likelihood winning new business. Almost 90 percent of consumers report greater trust in businesses that respond to reviews, Anandan said.
How to make each unit stand out
What listing information do renters look for when narrowing down their apartment search? Details specific to the unit in question are essential and can triple your leads. A recent Apartments.com renter survey found:
- 98 percent of renters said they need to see unit specific floor plans, pricing, availability, and amenities
- 93 percent care about where the available unit is located inside the building or community
- 89 percent are interested in the view from the given unit
When presented with unit-level details, renters are better informed and more likely to become leads. And with Apartments.com, you can include information specific to each unit, such as photos, virtual tours, unit location, amenities, videos, and views.
And, new in 2023, you can now take advantage of these new unit-specific features:
- Price by lease term
- Price by move-in date
- Direct link to application
- Specials
- Description
Why use lead technology
A final strategy for increasing lead-to-lease conversion is using lead technology. Renters are looking for a fast response, and 60 percent are more likely to rent if they receive a reply within 24 hours of submitting a lead, Anandan said. However, less than half of renters actually receive a reply within three days.
What can you do to help bridge this gap? Anandan highlighted these useful features:
- Tour scheduling. Renters can book tours directly through your Apartments.com listing, skipping the hassle of back-and-forth with your leasing team.
- Streamlined application process. Instead of having to track down the appropriate unit and application on your community site, renters can now apply to their desired unit directly from your listing.
Optimized listings mean better lead quality
By carefully selecting your photos, surfacing and responding to reviews, displaying unit-specific information, and taking advantage of lead technology, you can optimize your listings to attract high-quality leads who are more likely to convert into leases.
Check out more sessions from Apartmentalize 2023! Now available on demand, these presentations offer market insights, advertising tips, and social media best practices.
See all on-demand webinars from this year’s Apartmentology Learning Lounge, or watch more tips from Arjun Anandan on:
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