In this episode, we sit down with Jennifer Cyphers, Founder and CEO of Pynwheel, to dive deep into how tour technology is changing leasing in the multifamily industry.
Jennifer shares how Pynwheel’s innovative solutions, like leasing touchscreens and self-guided tour applications, are transforming the leasing process and boosting tour-to-close conversion rates.
We explore the origin story of Pynwheel, how it evolved into a key player in leasing technology, and its role during the COVID-19 pandemic, where self-guided tours became essential.
Jennifer also discusses the current challenges multifamily properties face, from implementing digital access solutions to overcoming legacy systems, and how Pynwheel is addressing these with cutting-edge technology.
Key Topics & Highlights:
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Discover how Pynwheel’s self-guided tours and touchscreens are reshaping the leasing experience.
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Learn about the critical role of digital access solutions and the challenges of retrofitting older properties.
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Explore the impact of self-guided tours during the pandemic and their long-term viability.
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Understand the importance of data in decision-making and how over-reliance on it can lead to misguided strategies.
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Gain insights into the future of leasing technology and how Pynwheel is helping properties overcome staffing shortages with automation.
Discover actionable strategies for improving your property’s tour-to-close rates and staying competitive in a rapidly evolving market.
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(00:00) Introduction to Jennifer Cyphers and Pynwheel
(01:47) Competitors and Market Positioning for Pynwheel
(03:02) Origin Story of Pynwheel
(07:16) Challenges with Implementing Self-Guided Tours
(09:58) Importance of Digital Access for Vacant Unit Tours
(11:10) Staged vs. Vacant Units: What Prospects Want
(14:03) Digital Access and Self-Guided Tour Solutions
(17:23) Costs of Retrofitting Digital Locks in Older Properties
(19:15) Pynwheel’s Current Product Lineup and Future Focus
(20:33) How Self-Guided Tours Increase Conversion Rates
(25:06) Retention, Churn, and Challenges with Transitions
(28:51) Data and Its Role in Improving Leasing Technology
(33:09) The Importance of User Experience with Touchscreens
(35:44) Key Events and Their Impact on Pynwheel’s Growth
(40:12) Vendor Challenges and Long-Term Client Retention
(44:08) The Importance of Behavior Change in Multifamily Leasing
(46:16) Prioritization and Focus in Business Growth
(49:11) Data and Standardization in Multifamily Real Estate
(52:37) The Challenge of Mapping Data Across Systems
(58:04) Data-Driven Decisions
