Boosting Leasing Conversions with Knock CRM’s Live Chat Feature
The multifamily leasing process has evolved rapidly with advancements in technology. Renters want instant communication, streamlined processes, and personalized support. Knock CRM is a robust customer relationship management platform for multifamily properties, and it attempts to address these needs with its Live Chat feature, designed to enhance real-time engagement with prospects and increase leasing conversions.
This blog explores how Knock CRM’s Live Chat feature empowers property managers, streamlines the leasing journey, and drives better outcomes for multifamily communities. We also discuss the complications of Live Chat, and the resources required to run it effectively.
Introduction
What is Knock CRM?
Knock CRM is a comprehensive software platform designed to support multifamily leasing teams with tools for lead management, prospect engagement, and data-driven decision-making. It provides solutions for tracking leads, scheduling tours, and automating follow-ups, helping properties operate more efficiently.
Prospective renters have numerous options in most markets and high expectations - so real-time engagement tools like live chat are indispensable. Knock CRM’s Live Chat feature enables leasing teams to connect instantly with prospects, ensuring that no inquiry goes unanswered.
Why Real-Time Engagement Matters
- Speed Wins Leads: Studies show that 78% of renters choose to lease from the first property that responds to their inquiry.¹
- Higher Engagement Rates: Real-time chat features have a satisfaction rate of 87%, higher than email or phone.²
Live chat bridges the gap between prospects and leasing teams, creating a responsive and convenient experience that builds trust and accelerates decision-making.
Key Features of Knock’s Live Chat
Knock’s Live Chat goes beyond basic communication by integrating seamlessly with the platform’s broader suite of tools.
1. Instant Communication with Prospects
Knock’s Live Chat enables leasing teams to respond to inquiries instantly, addressing questions about pricing, availability, or amenities in real time.
- Proactive Prompts: The system can prompt visitors to engage while browsing a property’s website, increasing interaction rates.
- Chat History: Leasing agents can view previous interactions, providing continuity and personalized service.
2. Integration with Lead Management
Knock CRM centralizes all lead data, syncing live chat interactions with other prospect touchpoints.
- Leads generated from live chat are automatically added to the CRM, eliminating manual data entry.
- Chat transcripts are saved, giving agents a full context of past conversations.
3. Tour Scheduling
Knock’s Live Chat includes integrated tour scheduling, enabling prospects to book tours directly during their chat session.
- Real-time availability ensures prospects can secure their preferred time slot without delays.
- Automatic reminders reduce no-show rates.
How Live Chat Increases Leasing Conversions
1. Faster Responses = Higher Conversion Rates
Renters value quick replies to their inquiries. A delay in responding can lead to missed opportunities as prospects explore other properties.
- Knock CRM’s Live Chat reduces response times to seconds, increasing the likelihood of lead conversion.
- Instant engagement builds trust, positioning the property as attentive and professional.
2. Real-Time Availability Builds Confidence
Prospects are more likely to move forward when their questions are answered promptly and clearly.
- Live chat agents can provide immediate answers about floor plans, pricing, pet policies, and other critical details.
- Prospects gain confidence in the property, making them more likely to schedule tours or start applications.
Stat Insight: Properties that offer real-time chat support see a 20-40% increase in lead-to-lease conversions compared to properties without it.³
3. Personalized Support Encourages Commitment
Leasing is a significant decision, and prospects appreciate personalized attention.
- Chat agents can tailor their responses based on the prospect’s needs, offering specific unit recommendations or incentives.
- Knock’s ability to integrate data ensures agents have all the information needed to create a customized experience.
Real-World Example/Use Case
The Success of a Suburban Community
A 250-unit suburban apartment complex implemented Knock CRM’s Live Chat to improve lead engagement during peak leasing season.
Challenges Before Live Chat:
- High lead volume overwhelmed leasing teams, leading to delayed responses.
- Prospects often abandoned inquiries after receiving slow or incomplete answers.
Results After Implementation:
- Tour Bookings Increased: The property saw a 30% increase in tours scheduled through live chat compared to phone or email inquiries.
- Faster Conversion Rates: Average lead-to-lease time decreased from 14 days to 9 days.
- Resident Satisfaction: Prospects frequently praised the responsiveness of the live chat feature in online reviews, boosting the property’s reputation.
Key Takeaway: Instant engagement via Knock’s Live Chat not only increased conversions but also improved the overall leasing experience for both prospects and the leasing team.
Conclusion
Knock CRM’s Live Chat feature is a game-changer for multifamily properties looking to enhance their leasing efforts. By enabling instant communication, integrating with lead management, and streamlining tour scheduling, it helps properties respond faster, engage more effectively, and ultimately convert more leads into leases.
In a rental market where speed and personalization are critical, live chat isn’t just a nice-to-have feature—it’s a must-have tool for driving success. Investing in Knock’s Live Chat is an investment in better prospect experiences, higher conversion rates, and long-term occupancy growth.
Sources
- Salesforce: Lead Response Management - https://www.salesforce.com/resources/articles/lead-response-management/
- Tidio: Live Chat Statistics - 24 Essential Live Chat Statistics You Should Know (2024)
- NMHC: Technology Trends in Leasing - https://www.nmhc.org/research-insights/