Respage attended NMHC’s OPTECH Virtual Conference and Expo from November 16th – 19th, 2020. NMHC refers to OPTECH as the premier event to see what’s next in the Multifamily industry. Our team attended sessions, presented an opening pitch about our new Surveys & Star Ratings platform, and hosted live demos for our new A.I.-Powered Instagram Content offering. Even though the conference was virtual this year, we still had a lot of key takeaways from the event.
Here are Respage’s key takeaways from the sessions we attended:
A.I. Leasing and apartment chatbots are a Multifamily business necessity
We have seen over the past few months how chatbots have transformed from an emerging trend to a business necessity, particularly within the Multifamily industry. An apartment community that’s capable of answering prospects’ questions quickly and thoroughly, including after hours, has an edge over the competition.
Prospect interactions with A.I. have increased, especially after hours
Two-thirds of consumers have interacted with a chatbot in the past year, and an estimated 80% of businesses plan to invest in chatbots by the end of 2024. Since the COVID-19 pandemic, apartment chatbots have played important leasing agent and customer service roles for leasing offices that have closed or are operating with limited hours.
Online apartment applications have increased
By utilizing A.I., some properties have seen an 8-10% increase in online applications. Application materials can be filled out and processed electronically. This seamless process not only saves time for prospective renters, but also your on-site leasing staff.
Communities are continuing to leverage automation
Automation is often used to make leasing staff more effective. Some apartment chatbots provide transcripts of all bot-prospect conversations, allowing human leasing agents to follow up and focus their sales outreach efforts on users who’ve shown an interest in their apartment community.
Properties are implementing A.I. to help qualify prospects
This ends up helping leasing staff to reduce the time needed to follow-up. Property managers & leasing staff will spend less time chasing prospects who aren’t serious about renting and more time pursuing those who are.
A.I. is being integrated into apartment 3D tours
Properties who implement 3D tours can integrate A.I. software to present them to prospects. By utilizing A.I. image processing software, properties are able to take 360 degree images and seamlessly turn them into 3D models, taking online apartment leasing efforts to the next level.
New apartment self-guided tour requirements are being implemented
Property management companies are starting to require their leasing agents to do a follow-up video call before and after apartment self-guided tours. This allows leasing agents to walk prospects through their apartment website over the phone, answer any questions, and also provide a humanized touch.
What are your apartment marketing goals? What are the results you are looking to achieve in 2021?
Respage can help you get there! Our purpose is Creating Extraordinary Renting Results. We can show you more qualified leads, better star ratings, satisfied residents, and ultimately signed leases. Let us help!