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AI is Creating a More Personalized Apartment Leasing Experience

MeetElise’s artificial intelligence leasing assistant is illustrating the big potential of technology. The firm partnered with apartment giant Greystar, and the company saw a 112% increase in year-over-year lead to tour conversions. The technology creates a personalized experience that creates a better, tailored customer experience.

“Personalization is the name of the game across industries. If you blast the customer with irrelevant information, they won’t read it. If you ask them to call you, they won’t bother,” Minna Song, co-founder and CEO of MeetElise, tells GlobeSt.com. “If you don’t know your customer well and treat them like a VIP instantly and are there waiting ready to serve them, they’ll take their dollars to a company that will.”

The AI technology is also able to connect with more potential renters than an individual leasing agent, according to Song. The combination of more targeted information and increased connection helps to boost leasing. The conversations are also realistic—and renters feel like they are having a conversation with a real person. “Elise, can have more conversations and book more tours per day than any human agent physically has the time to accomplish. Elise has real conversations with prospective renters, they will come into buildings and ask to meet Elise since she was so helpful over email,” explains Song. “Our AI has even been asked on dates several times. AI-powered buildings will be the most efficient, most profitable, and the most sought-after communities.”

To achieve this realism, Song has outlined three core characteristics in the leasing experience: service that is relevant to their needs; convenient and low effort; and immediate availability. “These consumer expectations are absolutely impossible to achieve without advanced technology, but by leveraging AI to create operationally efficient, instant, and personalized experiences, we can get closer to this,” says Song.

So far, the retention has been strong. Song says that following a 90-day free trial, 99 out of 100 buildings have opted to adopt the program. “We know our technology is the best and most effective on the market but that isn’t enough — we need to better tell our story,” she says. “Our mission is now to get our technology into the hands of more property managers and let them see firsthand how MeetElise can transform their buildings and lives.”
Reprinted with permission from the Mon, 20 Sep 2021 06:31:10 EDT online edition of GlobeSt © 2021 ALM Media Properties, LLC. All rights reserved. Further duplication without permission is prohibited, contact 877-256-2472 or reprints@alm.com.