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Three years ago, almost nobody was using self-guided tours. Last year, they became the industry standard and pushed conversion rates to historic highs. Vanessa Anderson, CEO of Tenant Turner, says AI virtual agents are about to do the exact same thing. In this Hot Takes episode, she breaks down the data behind leasing's next big shift and why waiting could cost you conversions.
Self-guided tours went from rare to the norm
Tenant Turner automates leasing across tens of thousands of units in North America, so Vanessa sees the performance data up close. Three years ago, most property managers weren't using self-guided tours. Last year, they became the most popular showing format among Tenant Turner's customers, and conversion rates climbed to the mid-fifties, a historic high.
Why self-guided tours worked
They closed the availability gap. Prospects no longer had to wait for business hours to tour a unit. Property managers became more responsive, and the funnel opened up to more prospects.
What AI virtual agents add
Before AI agents, a prospect with a question at 9 PM had no one to ask, so they moved on. A virtual agent fills that gap.
- Answers prospect questions, even after hours
- Qualifies leads
- Schedules showings for people who need extra help
It's the same kind of unlock self-guided tours were, and Vanessa expects it to have the same historic impact on your ability to turn leads into leases.
The prediction
A few years from now, not having an AI virtual agent will look the way requiring an accompanied showing looks today. It made sense once. Then the data made it impossible to defend.
Move first or play catch-up
Close the gap, and conversions go up as a result. The only real question left is whether you move first or play catch-up.
