AI has been a hot topic, with programs emerging to create artwork, write novels, and so much more. While these features are innovative, there are specific ways that artificial intelligence can best serve multifamily. For years we have been saying that AI should exist to help leasing teams with mundane tasks. Here are some ways artificial intelligence can assist multifamily teams that may be overwhelmed and struggling to keep up with the demands of day-to-day tasks.
Information Gathering and Sharing
Artificial intelligence is most successful in helping prospects gather and share information about communities they are interested in. It can help them get baseline information while freeing up leasing teams to focus on more time-consuming tasks. In addition, prospects no longer need to search all over a property website for what they’re looking for. They can find it all in one place with a few clicks.
AI can assist multifamily on-site teams with lead nurturing in several ways. Most prospects need to be followed up with at least 3x before they make a decision. Artificial intelligence can take the burden off leasing teams and automate the lead nurturing process. Once those leads are nurtured, they can move to the next step in the leasing journey. When lead nurturing is automated, more qualified leads are sent directly to the property, increasing closing ratios.
Not only can AI help gather info and nurture leads, but it can also help engage with prospects in a way tailored to their needs. Prospects can interact with automation in a multitude of places, such as social media, ILSs, search engines, property websites, and more. Now, not only can they engage whenever they want, but they can also engage wherever they want. Leasing teams don’t have to be on 24/7. Instead, they can allow automation to jump in and continue the conversation with prospects.
At the end of the day, automation will never replace human interaction. Instead, properties can leverage these tools to make their jobs more efficient. Instead of dealing with busy work, AI can jump in and take many tasks off the site team’s plates. If you want to learn more about automation, you can download the ultimate guide to automation, which has everything you need to know about AI in the multifamily space.