It’s not said enough: Being a leasing agent is tough. The multifamily industry is constantly throwing new challenges at leasing teams focused on improving operations and efficiency, all while making it work on a shrinking budget.
The rise in AI has certainly made life easier for leasing teams by automating prospect communication and repetitive tasks, giving onsite teams the freedom and flexibility to focus on assignments that require a human touch.
At Respage we’re all about optimizing operations with the help of automation, and we are constantly analyzing data and insights to continue to improve our winning formula. So why not do that with your leasing agents as well?
Agent reporting metrics not only provide valuable insights into the team’s performance, but also pave the way for leveraging advanced technologies, such as AI and automation, to further streamline the leasing process.
In this blog post we will examine why tracking leasing agent performance can help improve efficiency, engagement, and ultimately help your team reach your occupancy goals.
What is leasing agent reporting?
Don’t worry—Agent reporting dashboards don’t track if you took an extra long bathroom break, or checked Instagram for the 12th time that day. Agent reporting involves tracking and analyzing key performance indicators (KPIs) related to leasing agents’ activities within a dashboard.
For example, the Respage Agent Reporting dashboard within our Smart Leasing Platform CRM tracks and calculates tour to lease, and tour to application conversion rates for individual leasing agents. Response time, messaging, touring, and task completion are also tracked and surfaced within the dashboard.
Why is it important to track leasing agent performance metrics?
We have all had that one coworker who doesn’t pull their weight (or maybe you are that coworker—I’m not here to judge).
Perhaps you have a team member who does a fantastic job touring the community and cultivating relationships with residents. Or another agent may be a wizard at responding to messages and problem solving around the community. Tracking these various metrics you can see where talent lies within your team. Here are some more examples of how agent reporting can improve operations:
Leasing agent reporting metrics serve as a compass for managers to navigate team performance and productivity. By analyzing key metrics such as lead conversion rates and response times, managers gain a better understanding of each agent’s effectiveness in certain areas, allowing them to identify top performers or areas of improvement, and replicate successful strategies.
By uncovering these strengths and weaknesses, teams can maintain a more efficient schedule, and allocate tasks based on specific strengths to ensure the team is operating like a well oiled machine.
Proactive problem solving
Agent reporting metrics can act as an early warning system by highlighting potential bottlenecks or inefficiencies in the leasing process. Whether it’s a delayed response time, or a drop in conversion rates, these metrics allow teams to proactively address issues before they escalate.
Tracking productivity and success metrics for individual team members allows organizations to pinpoint specific areas where agents may require additional support or training. Identifying these gaps early on can ensure no team member is left behind, and enhances the overall performance of your entire organization. By setting a standard of continuous learning and improvement your team will stay current with evolving practices, industry trends, and fair housing standards.
Optimize your team with AI and agent reporting
We all know that leasing teams work better with AI, and AI works better with a human counterpart. So why not make sure both are running smoothly?
By leveraging AI and automation alongside agent reporting metrics, teams can unlock new levels of efficiency, make data-driven decisions, and foster a culture of coaching and improvement.
Our Smart Leasing Platform CRM automates 95% of daily workflows, and tracks agent performance and engagement across our AI leasing & marketing platform, helping you to optimize the leasing process and empower your team to thrive in a challenging market. Want to see it in action? Click below to schedule a demo.