Turning leads into leases with Dave Freund (Founder of LeaseLeads.co)
In a recent enthralling episode of our podcast, we had the privilege of hosting Dave Freund, the innovative mind behind LeaseLeads, a company revolutionizing the real estate leasing sector. This episode is a deep dive into how technology is reshaping the way we think about property leasing and management.
Dave, with his rich experience and pioneering vision, offers a unique perspective on tackling industry challenges, especially in the post-pandemic era.
“In a world where digital is the new normal, LeaseLeads is redefining real estate interactions,” Dave mentions in the podcast, setting the stage for an insightful discussion that is as enlightening as it is thought-provoking.
Who is Dave Freund?
Dave Freund, founder of LeaseLeads, has a background rich in digital solutions and a keen eye for market needs. Dave’s journey from founding a web development agency in 2016 to pivoting to LeaseLeads is nothing short of inspirational.
LeaseLeads offers a cutting-edge virtual leasing agent that seamlessly integrates into the real estate ecosystem. This tool not only addresses the challenges brought on by COVID-19 but also heralds a new era in property leasing, where efficiency and user experience are paramount.
Follow Dave on LinkedIn to learn more about his entrepreneurial journey.
Summary of the Podcast
Transforming Real Estate Leasing with Technology
Timestamp: [00:00] – [00:34]
In this opening segment, Dave Freund, the founder of LeaseLeads, delves into the challenges of leasing real estate during the COVID-19 pandemic. He introduces LeaseLeads’ innovative solution: a virtual leasing agent designed to enhance the apartment-hunting experience. This technology, developed to supplement traditional leasing teams, offers potential renters virtual tours and detailed information about floor plans and specials, all accessible remotely.
Target Audience and the Founding Story
Timestamp: [01:03] – [02:07]
Dave sheds light on LeaseLeads’ primary customers: property management firms of multi-family complexes. He explains the B2B aspect of their consumer-facing product and its integration into the property managers’ marketing budgets. Furthermore, Dave recounts the company’s evolution from a web development agency focused on multi-family properties in 2016, highlighting the strategic shift towards the product that garnered the most traction.
Pivoting from Agency to Product Development
Timestamp: [02:40] – [03:43]
The conversation shifts to the strategic decision to pivot from agency work to product development. Dave discusses the challenges and motivations behind this transition, including his former business partner’s move to Sweden and a desire to scale the business differently. This period marked the genesis of LeaseLeads’ virtual leasing agent product, driven by a need for a scalable business model.
Managing Transition and Funding Challenges
Timestamp: [04:17] – [05:54]
Dave describes the transitional period of balancing agency work with the development of LeaseLeads. He shares insights into managing the financial challenges during this phase, including utilizing savings and the first few customer acquisitions that helped turn the business profitable.
Growth and Marketing Strategies
Timestamp: [06:27] – [07:38]
Discussing LeaseLeads’ current status, Dave highlights crossing the 200-property mark and achieving approximately $1 million in annual revenue. He delves into the operational strategies for managing a mix of service and SaaS offerings, emphasizing the importance of recurring revenue for business stability.
Effective Marketing Channels and Trade Show Tactics
Timestamp: [08:09] – [09:21]
Dave reveals the effectiveness of LinkedIn and trade shows in their marketing strategy, focusing on building relationships in the multi-family industry. He also shares tactics for maximizing trade show impact, including targeted pre-show advertising and strategic networking.
The Power of Discounting in Early Stages
Timestamp: [10:49] – [11:49]
The discussion touches on the strategic use of discounts to introduce their product to existing customers, an approach that helped secure the initial 80-90 property sign-ups.
Navigating Business Partnership and Split
Timestamp: [19:37] – [21:37]
Dave candidly shares a challenging war story about negotiating a split with his business partner. He emphasizes the importance of generous and pragmatic decision-making during such transitions.
The Future Vision for LeaseLeads
Timestamp: [24:48] – [25:47]
In concluding, Dave outlines LeaseLeads’ ambitious vision to enhance every step of the leasing process through technology, including leveraging AI and providing rich data-driven insights to property managers.
This podcast episode with Dave Freund is a masterclass in understanding the intersection of technology and real estate. Dave’s insights shed light on the evolving landscape of property leasing and management, illustrating how LeaseLeads is leading the charge in this digital revolution.
From the initial challenges to the final product, this episode is packed with valuable takeaways for anyone interested in the future of real estate.
We highly recommend tuning in to the full episode for a more comprehensive dive into the world of LeaseLeads and to hear about entrepreneurship firsthand from Dave Freund.