NALP Study Guide Leasing and the Internet Essay

Submitted By Myniccia-Farmer
Words: 968
Pages: 4

Leasing and the Internet

What does ILS stand for? What do they offer? What is an example of an ILS? Internet listing service
Offer companies a marketing tool for their communities by serving as an electronic apartment search tool in addition to print apartment publications
Benefits of a well-designed internet ad carried by an ILS include:
Ability to reach people both locally and nationally
Ability to reach more people since ILS’s purchase search words hit by the major search engines
Ability to instantly make changes to the ad at low or no cost
Ability to showcase all of the property features and floor plans
Access 24 hours a day, 7 days a week as a virtual leasing office
Flexible product options that can include custom links to companies and their property-specific websites
Ease of tracking traffic by specific ILS source

According to NMHC, 88% of apartment residents say that, if given the option, they would use the internet to look for an apartment and complete an online application – all before visiting the community. To understand the typical internet prospective resident, one needs to understand the typical renter in today’s market. Today’s renters are smart, tech-savvy, solution-oriented, and time-starved. They reflect the broad spectrum of the population – from teens to seniors, from blue-collar workers to executives to stay-at-home moms. They are also renting by choice more frequently than ever, creating what is known as a “lifestyle renter.” Renting makes sense to them, as the demands on their time make it impossible to worry about such items as home repair and lawn care. The added perks of additional services at an apartment community all add up to a very enticing lifestyle choice.

List the 4 demographic groups described in “Multi-Generational Renters.” Include one or two relevant statistics about each group.
Millennials – 20% of internet users; largest population in U.S. History
Generation X – 37% of internet users; looking for work/life balance
Baby Boomers – 45% internet users; parents of potential renters
Immigrants – largest demographic increase is Hispanic & Asian

When tracking lead information, it is very important to be specific. “Internet” and “Apartment publication” are insufficient categories because they do not provide enough information about the actual source. This data is used to make decisions about how to spend the property’s marketing dollars, so improper tracking can be very costly. Marketing professionals need to know exactly which websites and apartment publications are performing well for the community, and which ones are not garnering results. As a skilled leasing professional, you should also be familiar with the current ads that are available online and in print. If you know what your ad looks like, for example, you can make specific reference to the photos used in that particular ad when speaking to a prospective resident who found you on that website.
When a prospective resident is searching an online apartment publication site, what are some of the typical search criteria available?
Price Range
Apartment Features
Community Amenties
Alphabetically, By Community Name
Ads should be updated weekly, at minimum. If rates change, the advertising should be updated immediately.
When using social media marketing, Fair Housing logos should always be included.
List 4 places the community website address should be listed.
1. Print material
2. Voice mail
3. Telephone listing
4. Newspaper liner ads
How can you use the internet to close prospective residents while speaking to them on the telephone?
Use your website to close
Direct the prospect to your website
Demonstrate the apartment over the telephone
Provide additional websites to assist in their move
Most internet leads received are generally made by prospective residents who are still online. Therefore, it is critical that you call them immediately while their