Virtual Leasing Reaches Exponential Growth in Response to COVID-19

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Realync, the multifamily industry’s leading virtual leasing and engagement platform, released industry statistics revealing an exponential increase in virtual leasing software since March of 2020.

COVID-19 was a catalyst for our industry to adopt new technologies and it is clear that virtual leasing is here to stay.

With the sudden installment of social distancing due to COVID-19, multifamily professionals responded by increasing resident communications while pivoting to virtual leasing and remote management. Realync found that those who had previously implemented a virtual leasing solution were better poised to respond to the social distance guidelines. These properties saw a 196% increase in video tour creation, a 273% increase in virtual prospect traffic, and an 8,278% increase in live virtual tours.

Apartment communities in the industry that had not previously implemented virtual leasing software were forced to do so in the wake of the pandemic. Over the course of four months, Realync’s user base tripled, resulting in an overall virtual tour increase of over 11,000% on the Realync platform. Virtual follow-up from leasing agents also saw a 470% increase in video views and engagement. Daily live virtual trainings, efficient onboarding processes, and easy to use software enabled properties and leasing teams to go live with virtual leasing within a mere 24 hours. Virtual leasing software proved crucial for multifamily properties to not only maintain but increase leasing throughout this already busy season.

“During this challenging time, we at Realync are thankful to be in a position where we can play a crucial role in helping multifamily communities pivot and adapt their leasing and management strategies. The quick onramp of these communities to a virtual platform is a testament to the flexibility and adaptability of the industry,” said Matt Weirich, Co-founder and CEO of Realync. “COVID-19 was a catalyst for our industry to adopt new technologies and it is clear that virtual leasing is here to stay.”

In order to continue delivering the exponential growth in virtual leasing, Realync doubled the size of its team, making strategic investments in all areas of the business including Client Success, Engineering, Marketing, Operations, Product, and Sales.

“More than ever, our team is focused on ensuring that our clients capture substantial ROI from enhancing and streamlining their leasing processes through virtual video leasing,” said Ani Rangarajan, Co-founder and COO of Realync. “Prior to COVID-19, consumers were asking for a virtual solution, and with the onset of the pandemic, the industry was forced to make a change. At Realync, we’re proud to enable the industry to provide high levels of service to those that call multifamily communities home.”

About Realync

Realync is the multifamily industry’s only cloud-based, Fair Housing compliant video leasing and engagement solution. Their real-time video technology enables live, interactive video tours and open houses as well as DIY pre-recorded videos, all using nothing more than a smartphone or tablet. Partnered with industry leaders like Greystar, Bozzuto, Windsor, Lincoln, Bell Partners, Fairfield, and more, Realync’s web and mobile platform helps onsite teams streamline leasing, marketing, resident engagement, maintenance, and more, and has proven increased conversion rates, decreased sales cycles, and increased sight-unseen leasing. Learn more at http://www.realync.com.

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Robyn Tyner
Realync
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