Are you sitting down? If not, find a seat. Because this quarter’s national leasing market update isn’t pretty.
We’re going to talk through some interesting charts below. But, (spoiler alert) no matter where we looked, days on-market, leads per on-market period, and rent reductions, it’s all going the wrong way.
You know those days and weeks. It’s just a firehose of emails spraying at you and your leasing team, saturating your inbox. We built ShowMojo more than a decade ago to handle that very issue. So every inquiry instantly receives an on-message response. Moreover, the lead can then self-schedule and self-direct their leasing journey and into one of your available listings. All this while your team is busy attending to other matters. Many ShowMojo customers very successfully stop here and leave Leasing Automation to handle all the communication and coordination with prospects and third parties. But that’s not the end of the story. Not for everyone. We get it.
If you’re doing self-guided tours, your newest line of defense against fraudsters just shot out of beta. And it’s as simple as picking up the phone. Whether you’re already following our Self-Show Security Best Practices, or you’re a bit lax, our Phone Call Verification feature is there (only when you really need it) as your last line of fraud defense.
Earlier this year, we announced the capability to add Up to FOUR Permanent Access Codes for Every MojoLock G3. And the hits keep coming, because today we are announcing the same feature for every MojoBox digital lockbox. Starting today, you get FOUR permanent access codes with each MojoBox.
When it comes to Leasing Automation, ShowMojo is the first and most powerful residential rental scheduling platform, a best-of-breed digital marketing and syndication system, an innovative and one-of-a-kind dynamic prospect nurturing framework, and a digital access powerhouse for smartlocks (MojoLock G3) and digital lockboxes (MojoBox). In addition to all of that, did you know ShowMojo has a powerful applicant collection and screening system that picks right up after a successful showing?
It wasn’t long after we rolled out the MojoLock G3 and MojoBox for the praise to Start Rolling In. But like Prince Harry after 24 hours without a headline, we wanted more. So we looked for new opportunities to create value for ShowMojo users. What we discovered was that many of our customers were leveraging both short and long-term rentals to diversify and increase income streams. And therein lay the opportunity. So with a newly added bit of spice to the platform that powers our access devices, we’re about to make some of your business endeavors a whole lot easier.
Smartlock aficionados certainly know that back in April we Rolled Out Additional Permanent Access Codes for each MojoLock G3. Now, what could be better than four permanent access codes for you and your team? How about an additional four permanent access codes for each of your residents? Yes, now, your residents can also set their own permanent access codes using whatever codes are most meaningful to them and their families.
Doing self-guided tours? Would you believe one simple setting on your ShowMojo account can reduce the potential for fraud by almost 50 percent? That setting is called watermarking. The data in the graph below (from September 2022 to present) shows the extent to which watermarking reduces fraud.
A screenshot is worth so many more words than we could possibly jam into this finite space.