Creating a sense of urgency can differentiate a good seller from a great seller. Anyone can show an apartment, but only the best understand how to create urgency during their tours, leading to more leases. But how do you develop an organic sense of urgency that won’t push your prospects out the door?
Here are six tactics you can use to naturally create urgency that will convert leads into leases without sending your prospects running.
1. Book back-to-back tours
When scheduling tours for multiple prospective renters, consider stacking your appointments back-to-back. There’s nothing better than finishing a great showing to find your next prospect waiting to come in. This tactic alone creates a sense of built-in urgency — and you don’t need to say or do anything.
“Last week, I remember finishing a tour, and we came outside to chat,” recalls Brad Baar, owner of Corridor. “Once we turned the corner to the front of the building, the lead saw another individual waiting for a tour. She then immediately asked me if others were interested in the apartment. All I had to do was say ‘yes,’ and urgency was created. In this instance, she texted me during my next appointment to ask for the application. People want what other people want. There’s truth in the concept that people want to go where other people are already going.”
2. Reduce the options
Often, renters will ask to see every option available to them. While they may request to view it all, abundant choices can complicate the process and will not serve either party.
When numerous units are available, it implies ample availability — this can decrease the sense of urgency to a prospect. It can also be confusing to the renter when too many choices are present. Consider limiting your tours to two to three of your best units.
However, to successfully reduce the options, you must listen to what the renter’s priorities are. It is essential to know your product and to be able to narrow the possibilities in your mind as the renter tells you their wants and needs.
3. Drop subtle clues
Creating a sense of urgency does not need to be heavy-handed. Often, a few subtle suggestions can be enough to influence a transaction. Throughout the tour, allude to additional interest in the property with phrases like “Oh yes, my last tour loved that, too!” Or, “I’ll follow up with you in the next few hours after all my tours are done.” These strategic comments naturally remind the renter that other parties are interested and that you are busy with additional tours.
“If a prospect is interested in one of the apartments you toured, you better believe that they will be calling you back more quickly,” Brad shares. “I’ve had many tours cancel their next few showings because they don’t want to miss out.”
4. A passion for your product
Another way to build upon urgency is to share your true passion for the product. The excitement in your voice and the look in your eye will encourage a natural sense of urgency that will help you to close more leases.
5. Focus on the relationship
When giving a tour to a prospective renter, how do you create urgency without taking it too far? We’ve all experienced that pushy salesperson that negatively affects your purchasing decision.
Without an authentic connection, these tactics will come across as pushy, fake, and unsuccessful. The key is to find a balance between creating urgency and building a relationship. Establishing this balance can lead to a higher conversion rate on leasing tours and increased velocity throughout a lease-up.
A good rule of thumb is to focus on building a relationship with the renter first. If a positive connection to the renter is made and followed by strategic urgency tactics, the lead will not only rent from you, but they will also thoroughly enjoy the process.
6. Find a dedicated leasing team
A robust leasing model is one of the most important facets to get right in a new development. It can make or break your property’s success. A specialized leasing team, like Corridor, will be focused on producing results for your property.
“From the first thing in the morning to the end of the day, our only focus is to put oil (leases) into the machine (property),” says Brad. A laser-focused leasing partner will provide tremendous value throughout the lease-up by adding more leases to your development faster.
If you’re concerned with the cost that comes with a third-party leasing team, Brad ensures that it is worth the investment. “Not only will Corridor provide recommendations throughout the lease-up to ensure a successful pricing strategy, but will also fill your property faster and provide the best service to every lead.”
If you’re interested in partnering with Corridor on your next lease-up, reach out any time to Hello@CorridorMN.com.
