Speakers

Vanessa Grayson, Community Manager at Avanti Residential and Host of The Unconventional Project

Cam Margeson, Senior Enterprise Account Executive, Multifamily – Rently

TL;DR Summary

In this session, Vanessa Grayson and Cam Margeson discuss the evolving prospect journey in multifamily real estate, highlighting the balance between AI-driven efficiency and maintaining a human touch. They explore strategies to meet renters’ expectations, enhance personalization, and build trust through integrated technologies.

In one of the podcast sessions at the Podcast Palooza during the 2024 NAA Apartmentalize Conference, Vanessa Grayson and Cam Margeson delved into the evolving prospect journey in multifamily leasing. As renters become more tech-savvy and self-sufficient, property managers face the challenge of meeting these new expectations while ensuring a personal touch. Cam, representing Rently, shared valuable insights on how to achieve this balance through optionality and enablement, leveraging AI, and providing seamless handoffs throughout the leasing process.

Key Takeaways About Balancing AI & Human Touch in Multifamily Leasing

1. Meeting Renters Where They Are: Modern renters expect a self-serve experience similar to what they receive from companies like Amazon and Apple. Property managers need to provide enhanced virtual tours, detailed floor plans, and the ability to lease in various ways, whether self-guided or traditional.
2. Leveraging AI for Efficiency: AI can significantly reduce friction points in the leasing process by automating information delivery, application processes, and follow-ups. However, it’s crucial to integrate AI in a way that supports human interactions rather than replacing them entirely. This helps maintain the personal touch that many renters still value.
3. Building Trust Through Personalization: Personalizing the leasing experience by using data gathered from AI interactions can help build trust with prospects. For instance, acknowledging previous AI interactions and using that information in follow-up conversations can make prospects feel valued and understood.
4. Role Specialization and Seamless Handoffs: With the increasing specialization of roles within property management teams, ensuring seamless handoffs between AI, onsite teams, and centralized admin is essential. This prevents information silos and ensures a consistent, personalized experience for prospects.

Actions Property Managers Should Take with AI

1. Implement Self-Serve Options: Integrate tools that allow prospects to access information and complete leasing steps independently. This includes virtual tours, detailed floor plans, and self-guided tour options.
2. Enhance AI Integration: Use AI to automate routine tasks and gather data that can be used to personalize human interactions. Ensure that AI tools are user-friendly and enhance rather than hinder the leasing experience.
3. Focus on Personalization: Train staff to utilize information from AI interactions to provide tailored communication and support. This builds trust and ensures that prospects feel heard and valued.
4. Ensure Seamless Information Flow: Develop systems and processes that allow for smooth transitions between AI interactions, onsite teams, and centralized admin. This prevents information loss and ensures a consistent experience for prospects.

By effectively balancing AI-driven efficiency with human touch, property managers can enhance the prospect journey, build stronger relationships, and improve overall satisfaction in the leasing process.