In the article, Kim Young, Vice President of Shared Services at Fogelman Properties, discusses how AI and automation have transformed the leasing role and enhanced operations within the multifamily industry. With over 17 years of experience at Fogelman, Young highlights several key insights:
- AI Streamlining Leasing: AI and automation have significantly improved leasing processes by handling routine tasks such as scheduling tours, answering frequently asked questions, and providing follow-up information. This frees up staff to focus on more personalized customer needs.
- Enhanced Efficiency and Scalability: Incorporating AI into Fogelman’s leasing strategy boosts both efficiency and scalability, helping the company meet evolving customer expectations and optimize their marketing impact.
- Successful Automation: Tasks such as lead nurturing, tour scheduling, and resident interactions have been successfully automated. While Fogelman doesn’t explicitly highlight when responses are AI-driven, the AI agent is given a distinct name to ensure prospects understand when they are interacting with it. The priority is to offer a seamless experience.
- Instant Responses: AI’s ability to provide immediate responses has improved conversion rates by reducing lead-to-tour and move-in times. Many customers seek quick answers, often outside of business hours, which AI helps address.
- Importance of Human Touch: While AI is crucial for efficiency, human interaction remains essential for personalized tasks like in-person tours, building community, and addressing unique resident concerns. The human touch adds warmth and expertise that technology cannot replicate.
- Balanced Approach: Young stresses that both AI and human attention are critical and should be leveraged together in marketing budgets to create an exceptional customer experience.
Overall, Kim Young emphasizes that a balanced combination of AI and human engagement is key to optimizing leasing operations and meeting customer expectations in the multifamily industry.
To read the full article, please visit NAA.
