February 03 2021

All Aboard the AI Train to the Future of Leasing

Funnel footnotes are summaries of cool lessons, trends, and insights our team gains from multifamily industry events. We package up some of the things that inspire us and share that with you in a compact format for learning-on-the-go.

Some of you may remember a famous phrase from the ‘80s movie Field of Dreams, “If you build it, they will come.” Unfortunately, this is not always the case for implementing a new technology solution. At OPTECH, discussions of best practices for deploying AI as a hybrid approach with interpersonal leasing offered the following insights.

 

When evaluating potential automated leasing solutions, it’s critical to get all influencers on board, including stakeholders in every department in your company—not just the IT department or the marketing department. It’s important to involve teams from each department in planning, training, innovations, marketing, and software support.

There is also a “FUD factor” to be aware of when implementing new technology—Fear, Uncertainty, and Doubt can come into play when leasing teams see technology as a potential threat. One way to mitigate this is to have your teams involved in developing a library of keywords and phrases for the AI agent to use when answering most commonly asked questions from potential clients. For example, your team may come up with terms related to local schools, hospitals and other nearby landmarks. In addition, leasing agents should “demo” the solution as if they were a potential tenant so they can experience the back-and-forth that transpires between the bot and the prospect before she books her tour.

You should be over-communicating the benefits of a new AI solution–the “why” and not just the “how.”

Over-communicating the benefits of a new AI solution is highly recommended during the training process. This includes not only communicating the “how” but also “why” the solution is effective in managing the vast change in workflow. For example, short, five-minute “vodcast” videos can be an effective way to engage with employees for training. “Open Mic” calls where employees can interact with executives and IT can also prove effective. By putting these ideas into action, you can expedite your team’s comfort level with using AI and begin seeing desired results faster. Remember to impress upon your team that technology will never take the place of human interaction for genuine relationship building.

To learn more about Funnel Leasing solutions, including our best-in-class training, visit our Products page.

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