Join award-winning podcasters, multifamily technology innovator Kerry W. Kirby, CEO of 365 Connect, and property management expert Ernest F. Oriente of PowerHour®, for a another exciting segment of the MultifamilyBiz.com + PowerHour Webcast Series. Launching on November 13, 2024, at 3:00 p.m. Eastern Standard Time, this LIVE fast-paced 60-minute Webcast focuses on leveraging the power of automation, self-service, and artificial intelligence to meet the demands of today's renters.
Discussion Highlights- How does blending technology with human interaction ensure renter satisfaction?
- What role does artificial intelligence play in creating personalized experiences?
- How do automated workflows optimize operations and reduce workload?
- How can self-service options and automation work together to improve response times?
Developers, Owners, Property Managers, Regional Managers, Urban Planners, City Agencies and Officials, Architects, Acquisition Directors, CEOs, Directors, Presidents, Principals, Executive Vice Presidents, Marketing Directors, Portfolio Managers, and Multifamily Housing Professionals.
[00:00:03] Welcome to the MultifamilyBiz PowerHour Webcast Series, where insight meets innovation in the ever-changing rental housing market.
[00:00:13] Please welcome your hosts and industry experts, Kerry Kirby and Ernest Oriente.
[00:00:24] All righty, we are set and ready to roll for the MultifamilyBiz PowerHour, an educational webcast for those of you in the property management space and for those of you who are vendors and suppliers,
[00:00:34] which means you sell a product or service into the industry.
[00:00:38] We are delighted that each of you and all of you are here.
[00:00:40] We have lots we're going to be sharing.
[00:00:43] Please, as you're getting settled in, find a quiet spot.
[00:00:46] Be able to make and take notes.
[00:00:47] The more notes you make and take, you are literally mirroring the very best in adult education and learning, right?
[00:00:53] So it's not an accident that we don't put something on the screen, which would create minitasking and multitasking, right?
[00:01:00] Please, as well, if you have questions related to our educational webcast, hit reply to the confirmation that we sent you in order to bring you here.
[00:01:08] And please remember, long, long after we finish up this educational webcast 24-7, you can come into MultifamilyBiz, and there are nearly 180.
[00:01:18] Nearly, I say, because we're just coming around the bend.
[00:01:21] But each of you and all of you inspire us as we get settled in for these topics.
[00:01:25] So please continue to let us know where the opportunities are, the challenges are, the questions you're wondering about, what's making you stretch or sweat or worry.
[00:01:33] We tuck those into our educational programs.
[00:01:35] With me is Kerry Kirby, the CEO of the award-winning 365 Connect, the innovator behind MultifamilyBiz, the largest media platform in our industry, the master and the maestro.
[00:01:48] Kerry Kirby, how about some opening words?
[00:01:52] And I'll say a few opening words about Power Hour, and then we'll rock right into our educational program, okay?
[00:01:57] You got it.
[00:01:58] Well, first off, I want to thank everyone for joining us today.
[00:02:01] My name is Kerry Kirby.
[00:02:02] I'm the CEO at 365 Connect.
[00:02:05] We are the leading provider of automated marketing, leasing, and resident service platforms to multifamily communities across the globe.
[00:02:14] Our AI-driven platform is designed for renters, property management teams, and today's changing world.
[00:02:22] We are also the innovators behind MultifamilyBiz, the largest media resource in the multifamily housing industry.
[00:02:29] We provide news, resources, and events to more than 1 million monthly friends, fans, and followers.
[00:02:38] MultifamilyBiz is also the host of the longest-running webcast in the multifamily industry.
[00:02:43] The award-winning MultifamilyBiz Power Hour webcast series, which you can find streaming everywhere, including Spotify, iHeartRadio, and Apple Podcasts, just to name a few.
[00:02:56] You can learn how we are leveraging over two decades of continuous innovation at 365connect.com.
[00:03:06] Kerry, you have often said we run the best airline in the world as well.
[00:03:11] Well, I didn't hear that in your introduction, but we're always on time, and we're always ready to go.
[00:03:17] Look out, look out, Delta and Southwest.
[00:03:19] Ernest and Kerry's on the runway.
[00:03:22] I just feel like we just need to reshape our introductions.
[00:03:26] There's so much more there.
[00:03:28] Best on time, always time.
[00:03:30] Kerry, it's always a delight, man.
[00:03:31] 17 rocking years and just under the wire, right?
[00:03:35] For 180 as we clipped through and always a joy and delight.
[00:03:39] I remember when we clipped into 100 and did a celebration, 150 and other celebrations, and all of you know 200 is not far away.
[00:03:47] So always a delight.
[00:03:48] Let's see.
[00:03:49] By way of introduction, my name is Ernest Oriente.
[00:03:51] My company is Power Hour for 29 plus years, going into the start of our 30th year.
[00:03:58] We've coached and guided industry leaders both on the property management side and the vendor side globally.
[00:04:03] We have such a passion for helping teams and leaders reach their dreams and goals, always with what?
[00:04:10] Grace and ease.
[00:04:11] And we see reoccurring themes as we look around the world.
[00:04:14] Kerry, as you know, we run leadership and sales academies.
[00:04:18] They began 12 years ago, more than 600 weeks back.
[00:04:23] Every single Tuesday we come together on that side.
[00:04:26] We have a recruiting division here at Power Hour.
[00:04:28] We have an M&A division.
[00:04:29] We have a deep, deep, deep digital side of the house.
[00:04:34] And some of the most exciting things we'll be sharing going into next year, as you know,
[00:04:37] our Review Pop is now being married with Gold Pop behind the scenes,
[00:04:42] something we've been working on for about six months.
[00:04:44] Lots we're going to share regarding that.
[00:04:46] And, of course, all the work that we do across LinkedIn with more than 180,000 leaders in our sector.
[00:04:53] All right.
[00:04:54] So each time we come together, Kerry and myself are going to bring out two wonderful instruments.
[00:05:02] We have the telescope on one side and the microscope on the other.
[00:05:05] We're going to take a look at the big picture of the macro and always let you know what we see as we look out into the sky.
[00:05:12] We bring out the microscope to give you what?
[00:05:14] Very specific, granular, step-by-step action steps that you can deploy immediately from that perspective.
[00:05:20] So Kerry and myself have three goals every time we come together with you and even in the banter that we share.
[00:05:26] Number one, we want to share what?
[00:05:27] New ideas to stretch and spur and stir your thinking, have you play outside the box,
[00:05:32] to have you stretch outside your comfort zone because that's where the best opportunities are.
[00:05:37] Number two, our second goal, if there's something you hear us talking about that you and your team already do,
[00:05:42] deploy, or have considered, beautiful.
[00:05:45] We send you a virtual high five.
[00:05:46] That means that you are literally mirroring best practices.
[00:05:48] And then our third and last goal for educational webcasts is the serendipitous.
[00:05:53] Kerry's talking about green cantaloupe.
[00:05:54] I mentioned purple frogs.
[00:05:56] And you think of striped kangaroos, right?
[00:05:59] You're just way out there.
[00:06:00] You go, oh, my God.
[00:06:01] Because right now in these educational opportunities, you're not working in your biz.
[00:06:07] You're working strategically on your biz.
[00:06:08] And we applaud you and celebrate you from that perspective, okay?
[00:06:11] So drum roll, please.
[00:06:14] Wow.
[00:06:14] Today, renters, technology, tools to shape their living experiences.
[00:06:20] That's the broad stroke, right?
[00:06:22] But lots we're going to cover regarding this.
[00:06:25] So Kerry, let's roll in.
[00:06:26] Tell us a little bit.
[00:06:28] How does blending technology with human interaction ensure renter satisfaction?
[00:06:33] Let's go there first, if we could.
[00:06:36] So, Ernest, empowering renters and property management teams with technology
[00:06:42] certainly makes transactions easier for both sides.
[00:06:46] Technology can enable self-service options, automation, AI solutions
[00:06:52] that allow people to complete simple tasks independently and instantly.
[00:07:00] So, you know, looking at renters, this might be as simple as paying their rent,
[00:07:05] submitting a maintenance request, or renewing a lease with just a few clicks,
[00:07:11] which has actually been the norm in our industry for probably over a decade now.
[00:07:16] But there are always times when you need to blend some personalization with that technology,
[00:07:23] something that only human interaction can bring to the table.
[00:07:28] Now, while technology is efficient for these routine processes,
[00:07:34] complex issues and unique needs require human touch.
[00:07:39] People naturally seek empathy, understanding, flexibility,
[00:07:46] qualities that just technology alone cannot seem to replicate.
[00:07:50] In multifamily communities, for example, staff members can step in
[00:07:55] to handle those emotionally sensitive situations or provide tailored responses
[00:08:01] that you might not get from automation.
[00:08:04] It helps build trust.
[00:08:06] It strengthens those relationships with your renters that, again, convert into retention.
[00:08:14] Technology, of course, can be used to collect and analyze data
[00:08:18] to help us provide those personalized services,
[00:08:22] such as what is a renter's preference?
[00:08:25] What's their behavior patterns?
[00:08:27] You know, hey, do you have something that logs?
[00:08:30] Hey, they use a fitness center five days a week.
[00:08:33] Or they're earnest.
[00:08:34] They use it 14 times a week.
[00:08:40] No, just 12.
[00:08:41] Come on.
[00:08:42] It's just 12.
[00:08:43] That's right.
[00:08:44] You take Sunday off.
[00:08:47] So that, you know, it can help you tailor those interactions to each resident better,
[00:08:54] whether it's suggestion amenities or sending a reminder
[00:08:59] or engaging about community events that, you know, hey, I know they always show up at this event.
[00:09:05] Let me make sure they get this reminder.
[00:09:08] So we can leverage technology just to help us, you know, do those personal things better.
[00:09:14] And if you look at companies like Amazon or Tesla, you know, both are leveraging AIs to make us better humans.
[00:09:23] You know, they're end users.
[00:09:25] In the case of Amazon, they're using AI to analyze images and videos to improve product recommendations to make us better shoppers.
[00:09:36] They are also using AI to make their supply chain more efficient.
[00:09:41] They're able to forecast demand, optimize their inventory, and also the routing of orders where, you know,
[00:09:48] what different places that order needs to go to, all that to get us products faster.
[00:09:55] Tesla, they use AI for their autonomous vehicle system, which gathers visual data in real time.
[00:10:04] It identifies any, you know, obstacles along the way on the road.
[00:10:10] And it's able to learn and make decisions accordingly.
[00:10:16] All that's to make us safer when we choose those driverless rides.
[00:10:21] It's actually, Ernest, one of the most impressive uses of AI out there is what they're doing with autonomous vehicles.
[00:10:29] And, Ernest, you and I have actually talked a few times about grabbing a ride in a driverless car a time or two.
[00:10:36] It's pretty interesting if you ever do it.
[00:10:40] But so if you ever want to fully appreciate the blend of humans and technology,
[00:10:46] I think that's certainly the place to make it happen is jumping in an autonomous vehicle and getting a ride somewhere.
[00:10:56] So are we going to – do we agree that we've both been in a Waymo?
[00:11:00] Are you saying you have or have not?
[00:11:02] I have been in a – yeah, they have some – not here, but I've been in – Phoenix has some autonomous vehicles running.
[00:11:13] So, yeah, I've been in one.
[00:11:14] I thought you were going to say that because I thought maybe Phoenix because San Francisco has them,
[00:11:18] and I have been multitude of times because of client work and my dear daughter and her husband are there,
[00:11:25] and I love flying around.
[00:11:26] They've got beautiful Jags set up with them, and they're stunning.
[00:11:29] And to be honest, I feel incredibly happy and safe.
[00:11:33] I moved to that immediately.
[00:11:35] But no doubt, this whole piece – let's just waterfall back, right?
[00:11:39] You know, AI before that, algorithms before that sort of predictive data.
[00:11:43] What was predictive data?
[00:11:44] You know, I'm a flower shop, and I'm going to go buy a mailer to the zip code.
[00:11:50] I hope these people come buy my flowers, right?
[00:11:52] Predictive data, and that's how it was matched up.
[00:11:54] And then algorithms, you know, is kind of where we've been living in the world,
[00:11:57] especially all the social media platforms.
[00:12:00] If you click on tomatoes, you're going to get a whole lot more tomatoes in your upcoming feed,
[00:12:03] how to grow tomatoes, how to buy tomatoes, how to cook with tomatoes.
[00:12:07] And then AI takes it a step further, right, and is growing and smarter, saying,
[00:12:11] hey, I imagine you're thinking about tomatoes because you're getting ready for the holidays.
[00:12:15] So maybe we should talk about holiday fare related to, you know, cooking for the holidays.
[00:12:19] You know, you think about the evolution.
[00:12:21] You know, really, AI will serve us better and better and better along the way.
[00:12:24] No doubt.
[00:12:25] It's not a straight shot.
[00:12:26] But let's also imagine from the renter perspective, from the ownership, property management perspective,
[00:12:32] let's imagine from the vendor supplier, there's so much wrapped around this.
[00:12:37] So let's continue down this path, Kerry.
[00:12:40] You know, the industry, right, is really looking to not only serve their renters better, right,
[00:12:44] but to optimize operations.
[00:12:47] How does this intersect?
[00:12:48] What's our take and our perspective, telescope, microscope from that perspective?
[00:12:53] Yeah, so, you know, Ernest, through, you know, looking back at multifamily for a minute,
[00:12:58] getting out of the back of the way mode for a minute, you know,
[00:13:02] through automating repetitive tasks, handling common requests through bots,
[00:13:07] and providing self-service options to our renters, you know,
[00:13:12] our staff can get out of what is known, and you probably heard it here first, Ernest,
[00:13:18] micro-tasking distraction.
[00:13:22] So everybody's like, what is micro-tasking distraction?
[00:13:26] Well, it's a thing, and it refers to the productivity challenges that arise when a person is constantly
[00:13:34] shifting attention to small tasks instead of focusing on the larger, more meaningful work.
[00:13:42] In fact, Ernest, this is such a thing, I actually have stats, and you know I love research,
[00:13:47] and I love stats, so this is a real thing out there.
[00:13:51] So on average, it takes us as humans 23 minutes and 15 seconds, is the norm,
[00:14:01] to fully reorient and regain focus after switching from one task to another.
[00:14:08] This is known as attention residue.
[00:14:13] And this is where part of your mind remains focused on the previous tasks,
[00:14:18] slowing down your ability to dive fully into the next one.
[00:14:22] So it's kind of a bit of like context switching.
[00:14:28] Now, while micro-tasks might feel manageable and even productive,
[00:14:33] because you're like, wow, I did 50 things today.
[00:14:37] It can fragment your attention, making it harder to maintain deep focus
[00:14:44] and complete substantial projects.
[00:14:48] And these distractions are common in environments where notifications, email,
[00:14:54] small requests pull people away from the main responsibilities,
[00:14:58] often leading to reduced efficiency, mental fatigue, a sense of busyness without significant progress.
[00:15:07] And the more of these we handle in a day, the larger that 23 minutes goes.
[00:15:13] And in fact, you can easily lose up to a half a day just in this context switching time,
[00:15:21] if you think about it.
[00:15:23] And, you know, what more perfect of a picture can you wrap your head around than a busy leasing office?
[00:15:32] There's so much contact switching and micro-distractions going on.
[00:15:37] It's not funny.
[00:15:39] So if you think about this, you need that technology component to enable your people to focus on those higher value interactions,
[00:15:50] making it more efficient and sustainable for them to manage, like I said, those traffic-heavy communities.
[00:16:00] That balance ensures residents still receive that personal support for those special cases,
[00:16:07] and you allow technology to handle that everyday interactions seamlessly.
[00:16:13] So, you know, I call it the rule of 80.
[00:16:16] I want 80% of things just to seamlessly automate,
[00:16:21] and the other 20% might come off the line and we have to touch them with a person.
[00:16:28] But I certainly don't want to dump 100% on somebody.
[00:16:31] So, you know, Ernest, if we blend technology with human interaction,
[00:16:36] which is where we started this with,
[00:16:39] it brings a balance between high-efficiency service
[00:16:43] and meaningful connections that only humans can provide.
[00:16:47] The synergy not only enhances renter satisfaction,
[00:16:53] but it also builds that long-term relationship,
[00:16:57] loyalty by making people feel valued and understood.
[00:17:01] I think, you know, we all like to pick up a phone now and then
[00:17:04] and talk to a human and get out of the cold-hard email chain sometimes.
[00:17:09] Mm-hmm.
[00:17:11] Now, that's certainly a valid point,
[00:17:14] and I'm just curious, should we pause the webcast
[00:17:17] and purchase the domain microtaskingdistraction.com?
[00:17:21] I think we should.
[00:17:25] Duly noted, I'm on GoDaddy right now.
[00:17:27] I wanted to send you a $9.90 gift.
[00:17:30] Is that okay?
[00:17:32] Go for it.
[00:17:33] Let's do it.
[00:17:35] I got five bucks right here.
[00:17:37] That's my house.
[00:17:39] Wow.
[00:17:40] Wow.
[00:17:40] I thought you'd say five bucks because that's all it was worth.
[00:17:43] Come on now.
[00:17:43] This is your term right there.
[00:17:48] Microtasking distraction.
[00:17:49] Oh, I truly love that.
[00:17:50] It's so interesting because about a week ago,
[00:17:52] I played a little game called,
[00:17:54] my phone is over there just chirping and it's vibrating.
[00:17:56] It's doing all this.
[00:17:57] I thought, let me play a little game called,
[00:17:58] I'm turning, because my phone never has,
[00:18:00] never do or will ring ever.
[00:18:03] It's completely always too silent.
[00:18:06] But I played another game called,
[00:18:08] why do I have these notifications even vibrating my phone
[00:18:10] or making, you know, just notifying.
[00:18:12] I thought, all notifications get turned off.
[00:18:15] That's it.
[00:18:16] I played a little game.
[00:18:17] And oh my God,
[00:18:18] it's exactly what you're talking about here.
[00:18:20] When you remove the distractions,
[00:18:21] you just stay in the flow,
[00:18:23] in the flow, in the flow.
[00:18:24] And then if I want to pause every 45 minutes or an hour,
[00:18:26] whatever, I'll pause.
[00:18:28] Then I'll go, okay,
[00:18:28] I will choose what I'm going to look at,
[00:18:30] but there's no more notifications,
[00:18:32] no more vibrations,
[00:18:33] no more anything.
[00:18:34] And it has created incredible joy
[00:18:36] because the world bombards us.
[00:18:38] It's all,
[00:18:39] we're gamified to see a Facebook,
[00:18:42] for example,
[00:18:42] or Instagram, for example,
[00:18:44] whatever the,
[00:18:45] LinkedIn for that matter,
[00:18:46] they're all looking for a piece of our mind share, right?
[00:18:50] And it distracts us
[00:18:51] and it takes us away from our primary focus,
[00:18:53] which means it takes time to your point,
[00:18:56] how long does it take time to get back,
[00:18:58] back, back to the task where we were?
[00:19:00] And that's not a pretty stat or number
[00:19:02] from that perspective.
[00:19:03] So as we're thinking about this,
[00:19:05] this micro task and distractions,
[00:19:07] for those of you in the property management side,
[00:19:08] no doubt,
[00:19:10] so much going on.
[00:19:11] For those of you on the vendor supplier side,
[00:19:13] it's exactly the same.
[00:19:15] If you're providing a product or service
[00:19:17] into our space and sector
[00:19:18] and you're partnering with
[00:19:19] your property management company,
[00:19:21] guess what?
[00:19:22] It's the same rules
[00:19:23] that we're talking about here.
[00:19:25] It all links together from that perspective.
[00:19:27] So let's bring that around the bend now.
[00:19:29] So Kerry,
[00:19:30] from your perspective
[00:19:31] and in our educational webcast here today,
[00:19:33] so what is the role of AI,
[00:19:35] artificial intelligence?
[00:19:36] How does that play into creating
[00:19:38] personalized experiences?
[00:19:40] Say more about that.
[00:19:41] Yeah, so, Ernest,
[00:19:43] AI plays a major role
[00:19:45] in creating personalized experiences
[00:19:47] because, you know,
[00:19:49] we can use data-driven insights
[00:19:51] to tailor content,
[00:19:53] products,
[00:19:54] services,
[00:19:55] and recommendations
[00:19:57] to individual users.
[00:19:59] Long story short,
[00:20:00] probably these notifications
[00:20:01] you're getting that you want to turn off.
[00:20:03] So we're able to customize
[00:20:06] the ones you're getting
[00:20:07] about the tomatoes
[00:20:08] you keep looking at,
[00:20:09] by the way.
[00:20:10] So, you know,
[00:20:14] through things like
[00:20:15] machine learning,
[00:20:16] natural language processing,
[00:20:19] data analytics,
[00:20:21] AI,
[00:20:21] you know,
[00:20:22] various AI systems,
[00:20:23] we can analyze user behavior
[00:20:25] like never before,
[00:20:27] preferences,
[00:20:28] demographics,
[00:20:30] past interactions,
[00:20:32] and make predictions
[00:20:34] and deliver
[00:20:36] customized
[00:20:38] content,
[00:20:38] interactions.
[00:20:40] So let's just walk,
[00:20:42] there's a lot of stuff,
[00:20:43] so let's walk,
[00:20:44] let me walk through
[00:20:44] a few examples
[00:20:45] of how personalization
[00:20:47] is created
[00:20:49] just so you can kind of
[00:20:50] wrap your head around it.
[00:20:51] So let's just think,
[00:20:53] you know,
[00:20:55] AI algorithms
[00:20:56] are being used
[00:20:57] on platforms like
[00:20:58] Netflix,
[00:20:59] YouTube,
[00:20:59] Spotify.
[00:21:02] It analyzes
[00:21:03] what you're viewing
[00:21:05] or listening to
[00:21:06] and it'll suggest
[00:21:08] similar content
[00:21:09] that it believes
[00:21:10] you would like
[00:21:11] to watch
[00:21:12] or listen to.
[00:21:14] This customization
[00:21:15] keeps users engaged
[00:21:17] because it keeps
[00:21:18] delivering relevant
[00:21:19] recommendations
[00:21:20] to them.
[00:21:20] It's like,
[00:21:21] if you're ever on Netflix,
[00:21:22] it says,
[00:21:23] you might like this
[00:21:24] because you watched
[00:21:25] this.
[00:21:26] And you're like,
[00:21:27] huh,
[00:21:28] maybe so.
[00:21:28] And then you find
[00:21:29] yourself binging,
[00:21:31] you know,
[00:21:31] another Netflix
[00:21:33] thing for a whole weekend.
[00:21:36] You're like,
[00:21:36] wow,
[00:21:37] it's Monday.
[00:21:37] What have I been doing?
[00:21:38] But I'm happy.
[00:21:40] I'm very happy.
[00:21:41] That's right.
[00:21:42] That's right.
[00:21:42] I'm a big,
[00:21:43] I'm a big Spotify user,
[00:21:45] by the way,
[00:21:46] which,
[00:21:46] which,
[00:21:47] nope,
[00:21:48] no,
[00:21:49] nothing here intended.
[00:21:50] But this webcast
[00:21:51] that you're listening to
[00:21:52] right now
[00:21:53] probably streams
[00:21:54] on Spotify.
[00:21:55] And I,
[00:21:56] I actually like
[00:21:57] listening to it
[00:21:59] driving to my office.
[00:22:00] So I,
[00:22:01] I kind of want to
[00:22:02] listen to myself.
[00:22:03] And then I'm like,
[00:22:03] oh my God,
[00:22:04] I can't believe
[00:22:04] I sound like that.
[00:22:07] But they,
[00:22:07] they do a pretty good job
[00:22:09] of seamlessly playing
[00:22:11] that music
[00:22:11] or that podcast
[00:22:13] that you'd most likely
[00:22:15] like to have
[00:22:15] in your playlist.
[00:22:16] So if you ever,
[00:22:17] if you ever run a playlist
[00:22:18] when it gets to the end,
[00:22:20] it'll just start,
[00:22:21] it keeps kind of playing
[00:22:22] in that genre
[00:22:23] you're listening to
[00:22:24] and you're like,
[00:22:25] huh,
[00:22:26] that wasn't my playlist.
[00:22:27] Where did that come from?
[00:22:29] And then you're like,
[00:22:30] okay,
[00:22:30] it's just catching things
[00:22:32] and then you go back
[00:22:33] and you end up
[00:22:33] adding a few of them.
[00:22:34] So it's pretty interesting
[00:22:36] how they do it.
[00:22:38] The other thing out there
[00:22:40] is product recommendations.
[00:22:41] And,
[00:22:41] you know,
[00:22:42] we've obviously
[00:22:43] been talking in and out
[00:22:44] of this one,
[00:22:45] like e-commerce platforms
[00:22:47] like Amazon,
[00:22:48] you know,
[00:22:49] they,
[00:22:49] they track their customers
[00:22:50] browsing,
[00:22:51] purchasing habits,
[00:22:52] and then they suggest,
[00:22:55] you know,
[00:22:56] products that,
[00:22:57] that they believe
[00:22:58] are tailored
[00:22:58] to the taste
[00:23:00] of your buying history.
[00:23:02] That's personalization
[00:23:03] and it,
[00:23:04] and look,
[00:23:05] it works.
[00:23:05] It boosts sales,
[00:23:06] improves customer satisfaction.
[00:23:08] You ever,
[00:23:09] you ever get an email
[00:23:10] or something and say,
[00:23:11] because you clicked
[00:23:11] a newsletter
[00:23:12] and it said,
[00:23:13] hey,
[00:23:14] saw you looked at this.
[00:23:16] Still interested?
[00:23:17] Here's a coupon.
[00:23:18] Maybe something
[00:23:19] multifamily can,
[00:23:20] can learn from
[00:23:21] when they,
[00:23:21] when they really
[00:23:22] want to lease up.
[00:23:23] Somebody looked at something
[00:23:24] and you have their information.
[00:23:26] Hey,
[00:23:26] maybe we go back
[00:23:27] and offer them
[00:23:27] a discount on it.
[00:23:30] Which leads me
[00:23:31] to my next point,
[00:23:32] targeted advertising.
[00:23:34] You know,
[00:23:34] AI is now enabling
[00:23:36] businesses
[00:23:36] to deliver ads
[00:23:38] based on user interests.
[00:23:40] And it does that
[00:23:41] in a variety of ways,
[00:23:43] analyzing social media activity,
[00:23:45] search history,
[00:23:46] even geolocational data.
[00:23:49] If you ever go
[00:23:50] play with Facebook ads,
[00:23:51] you can go locational.
[00:23:53] You can pick things
[00:23:54] that,
[00:23:55] of people's interests
[00:23:56] that you want to target.
[00:23:59] AI system can serve ads
[00:24:01] that align
[00:24:02] with each individual
[00:24:05] things they find appealing.
[00:24:07] And again,
[00:24:08] it increases the chances
[00:24:09] of engagement
[00:24:10] and conversion.
[00:24:11] And I think we all see
[00:24:13] this,
[00:24:13] this happening.
[00:24:14] I,
[00:24:14] I feel like I can just
[00:24:16] think about something now
[00:24:17] and it shows up
[00:24:18] in,
[00:24:19] you know,
[00:24:20] a Facebook feed
[00:24:21] or my news feed
[00:24:22] or something.
[00:24:23] It's like,
[00:24:24] wow,
[00:24:24] I just said that.
[00:24:25] Is,
[00:24:25] is my phone
[00:24:26] always listening to me?
[00:24:28] Which I'm pretty convinced
[00:24:29] it is now.
[00:24:31] because I don't even have
[00:24:32] to type it anymore.
[00:24:33] It just shows up.
[00:24:35] Right.
[00:24:38] And then,
[00:24:39] and then the other thing
[00:24:40] is,
[00:24:40] which is part of our topic
[00:24:42] today,
[00:24:42] is that personalized
[00:24:43] communication,
[00:24:44] you know,
[00:24:45] AI powered chatbots,
[00:24:47] virtual assistants,
[00:24:48] you know,
[00:24:49] these things all provide
[00:24:50] users with tailored
[00:24:52] responses
[00:24:53] based on their
[00:24:54] past inquiries,
[00:24:55] their preferences,
[00:24:57] profile data,
[00:24:57] if it has it.
[00:24:59] This makes interactions
[00:25:01] more relevant
[00:25:02] and,
[00:25:03] and efficient
[00:25:04] and it enhances
[00:25:05] that overall experience.
[00:25:07] It's kind of like,
[00:25:08] you know,
[00:25:09] depending on who you are,
[00:25:10] it's like,
[00:25:10] hey,
[00:25:10] this thing's
[00:25:12] pretty interesting.
[00:25:13] It's,
[00:25:14] it's talking to me.
[00:25:15] And again,
[00:25:17] we've certainly been
[00:25:18] leveraging this one
[00:25:19] in multifamily.
[00:25:20] You know,
[00:25:20] we have chatbots
[00:25:21] and we're using
[00:25:23] virtual assistants
[00:25:24] and so,
[00:25:25] so,
[00:25:26] you know,
[00:25:26] we're really
[00:25:27] been into this
[00:25:28] for a little bit
[00:25:28] but it's getting
[00:25:29] bigger and better
[00:25:30] and better
[00:25:31] as we go
[00:25:32] in the multifamily
[00:25:33] space for sure.
[00:25:35] Mm-hmm.
[00:25:35] Yeah,
[00:25:36] no doubt
[00:25:36] and I was
[00:25:37] thinking about
[00:25:38] this whole piece
[00:25:38] about product
[00:25:39] recommendations,
[00:25:40] target,
[00:25:40] you know,
[00:25:41] advertising,
[00:25:42] you know,
[00:25:43] often called
[00:25:44] retargeting
[00:25:45] or follow me ads
[00:25:46] in a simpler sense
[00:25:47] but it's exactly that.
[00:25:48] I mean,
[00:25:48] I was looking
[00:25:50] at some
[00:25:50] Helly Hanson
[00:25:51] winter gear.
[00:25:52] I liked one of their vests.
[00:25:53] I like some of their
[00:25:54] base layers
[00:25:55] and I opened up the tab
[00:25:56] and then I drifted off,
[00:25:58] right?
[00:25:58] And sure enough,
[00:25:59] as I'm browsing
[00:26:00] in and out of other sites
[00:26:01] a day later,
[00:26:02] a day later,
[00:26:03] a week later,
[00:26:04] up come those ads
[00:26:06] and little reminders
[00:26:07] like,
[00:26:07] hey,
[00:26:08] you know,
[00:26:08] you know,
[00:26:09] are you still interested in
[00:26:10] or,
[00:26:10] you know,
[00:26:10] were you thinking about?
[00:26:12] Some would say
[00:26:12] that's intrusive.
[00:26:14] I thought,
[00:26:15] what a gift that is
[00:26:16] because I really do
[00:26:17] want to come back
[00:26:18] and make a purchase
[00:26:19] and then I did one more
[00:26:20] with Swix.
[00:26:21] They make wonderful
[00:26:22] winter gear
[00:26:23] for cross-country skiing,
[00:26:25] a little thinner base layer
[00:26:27] really breathes
[00:26:28] special sort of fabrics,
[00:26:29] you know,
[00:26:30] for,
[00:26:30] you know,
[00:26:31] working out
[00:26:31] pretty heavily
[00:26:32] in the cold weather
[00:26:33] and it's got to be
[00:26:33] built a little different.
[00:26:34] I'm like,
[00:26:34] oh man,
[00:26:35] I really want to,
[00:26:36] yeah,
[00:26:36] that looks good.
[00:26:37] Set that tab aside,
[00:26:38] sure enough,
[00:26:39] the retargeting ads
[00:26:40] went right back
[00:26:40] and bought that as well.
[00:26:41] So I can,
[00:26:42] I have two examples
[00:26:43] in the last 10 days
[00:26:44] that I'm actually grateful
[00:26:45] that behind the scenes
[00:26:47] the AIs pay attention,
[00:26:48] the algorithms
[00:26:49] are weaving in,
[00:26:49] they're,
[00:26:50] yes,
[00:26:50] of course,
[00:26:51] they're picking me up.
[00:26:52] They know exactly
[00:26:53] what I want,
[00:26:55] Carrie.
[00:26:55] They're not saying,
[00:26:56] hey,
[00:26:56] do you need a new pair
[00:26:57] of,
[00:26:57] you know,
[00:26:57] hiking boots?
[00:26:58] You know,
[00:26:58] they know that I'm
[00:26:59] in a winter climate.
[00:27:00] They know what I looked at
[00:27:01] and by the way,
[00:27:01] then the next round
[00:27:02] is what?
[00:27:03] The wave of what else
[00:27:04] I might like
[00:27:05] even to my size.
[00:27:06] They're already assessing
[00:27:07] what color I liked,
[00:27:09] right,
[00:27:09] and what the gear is
[00:27:10] and even recommendations
[00:27:12] for winter cross-country gloves
[00:27:14] because they've now figured,
[00:27:15] wait a minute,
[00:27:16] if Ernest is out there
[00:27:16] doing cross-country
[00:27:17] for that jacket,
[00:27:18] he probably needs
[00:27:19] some gloves.
[00:27:19] I feel well served
[00:27:21] by that.
[00:27:22] We might pause
[00:27:23] and some might say,
[00:27:24] is that a little spooky,
[00:27:26] Ernest and Carrie?
[00:27:27] We might.
[00:27:28] I find it 1% spooky
[00:27:31] and 99% joy
[00:27:33] on the other side.
[00:27:34] Carrie,
[00:27:34] your perspective on that?
[00:27:35] Yeah,
[00:27:36] I find it helpful.
[00:27:37] I mean,
[00:27:37] and you're right,
[00:27:38] Ernest,
[00:27:39] and I can give you
[00:27:39] all the technical reasons
[00:27:40] it's doing that,
[00:27:41] you know,
[00:27:41] IP address,
[00:27:42] where are you?
[00:27:43] You know,
[00:27:45] hey,
[00:27:46] Ernest is here.
[00:27:46] He's looking for
[00:27:47] skiing equipment.
[00:27:48] There,
[00:27:49] it's snowy there,
[00:27:49] you know.
[00:27:50] You can pull data
[00:27:51] all over the place now
[00:27:52] and it's,
[00:27:53] you know,
[00:27:54] quite interesting.
[00:27:56] But I like it.
[00:27:58] I mean,
[00:27:58] I look at things.
[00:27:59] There's a couple of places
[00:28:00] I like to shop online
[00:28:03] and I see something
[00:28:06] I want now.
[00:28:07] I know if I look at it,
[00:28:10] eventually they come back
[00:28:11] and,
[00:28:12] you know,
[00:28:13] hey,
[00:28:13] did this catch your attention
[00:28:14] and,
[00:28:15] yeah,
[00:28:15] I kind of thought
[00:28:16] and it'll come back
[00:28:17] a couple days.
[00:28:17] Hey,
[00:28:18] you know,
[00:28:18] look,
[00:28:19] this just went on sale.
[00:28:20] Hey,
[00:28:20] here's a coupon.
[00:28:22] So,
[00:28:23] you know,
[00:28:23] if I really want something
[00:28:25] on this,
[00:28:25] I click it
[00:28:26] and I know
[00:28:27] I'll get a discount
[00:28:27] eventually on it
[00:28:29] unless they sell out
[00:28:31] and I lost out,
[00:28:32] right?
[00:28:33] So,
[00:28:33] yeah,
[00:28:33] I find it helpful.
[00:28:35] I do.
[00:28:37] Absolutely.
[00:28:37] And then last year
[00:28:38] I was,
[00:28:39] you know,
[00:28:40] I went skiing
[00:28:40] with clients
[00:28:41] in Niseko
[00:28:42] in Japan.
[00:28:43] I followed some
[00:28:44] of the Instagram
[00:28:46] sites
[00:28:46] and enjoying that
[00:28:48] richly
[00:28:48] as the snow
[00:28:49] is just coming in
[00:28:50] this year.
[00:28:50] It has so much
[00:28:51] more meaning for me.
[00:28:52] Sure enough,
[00:28:53] what comes in?
[00:28:53] The sponsored ads
[00:28:54] and I got to tell you,
[00:28:55] I'm loving the sponsored ads
[00:28:57] because they knew
[00:28:58] I was there.
[00:28:59] They can see what I'm following.
[00:29:00] They can see what I'm watching
[00:29:01] and I love that.
[00:29:02] It lights me up.
[00:29:03] Now,
[00:29:04] let's bring that
[00:29:04] all the way back around
[00:29:05] to our industry,
[00:29:07] right?
[00:29:07] How can our industry
[00:29:09] leverage this kind
[00:29:10] of personalization
[00:29:12] to improve
[00:29:13] our operations?
[00:29:16] Give us your pulse
[00:29:17] on that.
[00:29:19] Yeah,
[00:29:19] so,
[00:29:19] you know,
[00:29:20] Ernest,
[00:29:20] in the rental housing market,
[00:29:22] you know,
[00:29:23] AI can create
[00:29:24] those personalized
[00:29:25] experiences
[00:29:27] for both renters
[00:29:28] and actually property managers
[00:29:29] too,
[00:29:30] so it's not just
[00:29:30] one-sided.
[00:29:33] and,
[00:29:33] you know,
[00:29:34] it can enhance engagement,
[00:29:35] can streamline operations
[00:29:37] for that property management
[00:29:39] side,
[00:29:40] improve renter satisfaction.
[00:29:43] So,
[00:29:44] here's how AI-driven
[00:29:46] personalization
[00:29:47] can be applied
[00:29:49] in,
[00:29:50] you know,
[00:29:51] a couple of examples
[00:29:52] on my end.
[00:29:53] So,
[00:29:54] customized property
[00:29:55] recommendations,
[00:29:56] what's that?
[00:29:57] AI can analyze
[00:29:59] a renter's
[00:30:00] housing search
[00:30:01] history,
[00:30:01] so let's just say
[00:30:02] they're on an ILS
[00:30:04] and they're,
[00:30:04] you know,
[00:30:05] searching.
[00:30:06] What are they searching?
[00:30:08] Where are they searching?
[00:30:09] Even though they're here
[00:30:10] versus,
[00:30:11] you know,
[00:30:12] that mountain
[00:30:13] you're skiing from,
[00:30:14] they might be like,
[00:30:15] well,
[00:30:15] I am moving to
[00:30:16] Park City,
[00:30:17] you know,
[00:30:18] so they can,
[00:30:19] hey,
[00:30:20] they're looking
[00:30:20] at apartments
[00:30:21] in Park City,
[00:30:22] you know,
[00:30:23] so that's a location
[00:30:24] preference.
[00:30:26] Budget,
[00:30:27] desired amenities
[00:30:28] to recommend,
[00:30:30] you know,
[00:30:30] all these things
[00:30:31] they can come up
[00:30:32] with to match
[00:30:33] their needs
[00:30:34] and start making
[00:30:35] recommendations.
[00:30:36] Much like the
[00:30:37] streaming services
[00:30:38] where we're talking
[00:30:39] about do with content.
[00:30:41] So,
[00:30:42] you know,
[00:30:44] rental listing
[00:30:44] platforms,
[00:30:45] and some of them
[00:30:46] are really getting
[00:30:47] into this now,
[00:30:48] they can,
[00:30:48] they can suggest
[00:30:49] specific apartment units,
[00:30:52] neighborhoods,
[00:30:54] actual communities
[00:30:55] that best align
[00:30:56] with that
[00:30:57] renter's lifestyle
[00:30:58] that,
[00:30:59] which saves time
[00:31:01] and improves
[00:31:01] their search experience.
[00:31:03] You know,
[00:31:03] instead of hunting around,
[00:31:05] it's kind of like,
[00:31:06] here,
[00:31:07] here's,
[00:31:07] here's five or six choices
[00:31:09] that we think you'll like.
[00:31:11] And if you don't,
[00:31:12] you just keep moving on
[00:31:13] and it keeps learning
[00:31:14] and learning
[00:31:15] and keep making
[00:31:16] recommendations.
[00:31:17] chat bots,
[00:31:19] which we talked
[00:31:20] about earlier,
[00:31:21] you know,
[00:31:21] they're best known
[00:31:22] for being able
[00:31:23] to answer those
[00:31:24] questions 24-7.
[00:31:26] But they can also
[00:31:27] recall previous inquiries,
[00:31:30] you know,
[00:31:30] and I happen to have
[00:31:31] built one of these
[00:31:32] and it'll freak you out.
[00:31:34] You'll come back
[00:31:34] and it'll say,
[00:31:36] hey,
[00:31:36] Kerry,
[00:31:36] good to see you again.
[00:31:37] Still looking at that
[00:31:38] one bedroom
[00:31:39] and it's like,
[00:31:39] how does it know that?
[00:31:41] You know,
[00:31:42] you know,
[00:31:44] you know,
[00:31:45] you know,
[00:31:45] so it can offer
[00:31:45] recommendations,
[00:31:47] it can guide renters
[00:31:48] through the,
[00:31:49] you know,
[00:31:50] the process
[00:31:50] based on requirements
[00:31:52] that they may have
[00:31:53] looked at,
[00:31:54] like pet-friendly policies
[00:31:56] or maybe they're looking
[00:31:57] at different lease terms,
[00:32:00] you know,
[00:32:00] something a little
[00:32:00] more flexible.
[00:32:01] So it can make
[00:32:02] all those recommendations
[00:32:04] and help get them
[00:32:05] through that part
[00:32:07] of the funnel.
[00:32:08] And then here's another
[00:32:10] one that's,
[00:32:11] you know,
[00:32:13] emerging and being
[00:32:14] used more and more.
[00:32:15] It's predictive
[00:32:16] maintenance.
[00:32:18] And we're really
[00:32:19] seeing this one
[00:32:20] kind of take off
[00:32:21] in our industry.
[00:32:22] This is where AI
[00:32:23] is being utilized
[00:32:24] to analyze data
[00:32:26] from IoT-connected
[00:32:28] devices.
[00:32:28] It's Internet of Things.
[00:32:30] It's where that
[00:32:31] equipment can talk
[00:32:33] back to something
[00:32:35] through connected,
[00:32:36] through Wi-Fi.
[00:32:39] So this is being used
[00:32:40] within apartment communities
[00:32:42] and it can predict
[00:32:43] when maintenance
[00:32:44] is needed
[00:32:44] before an issue arises.
[00:32:46] Like,
[00:32:47] hey,
[00:32:48] it's kind of like,
[00:32:49] you know,
[00:32:50] your car does now.
[00:32:51] It's like,
[00:32:52] oh,
[00:32:52] it's so many miles
[00:32:53] and we turn on
[00:32:54] the service now alert,
[00:32:56] you know.
[00:32:57] So it's kind of
[00:32:58] the same thing.
[00:32:59] So instead of you like,
[00:33:00] gee,
[00:33:01] when's the last time
[00:33:02] we,
[00:33:03] you know,
[00:33:03] service our air
[00:33:04] conditioned units?
[00:33:05] You could,
[00:33:05] if it's got IoT
[00:33:06] hooked to it,
[00:33:07] it can say,
[00:33:08] hey,
[00:33:09] you know,
[00:33:09] this one's running
[00:33:10] low on Freon
[00:33:11] or,
[00:33:12] you know,
[00:33:12] it's getting a little
[00:33:13] wobble in the compressor.
[00:33:15] You might want
[00:33:15] to go check on it.
[00:33:17] So this is a proactive
[00:33:18] approach that,
[00:33:20] you know,
[00:33:21] again,
[00:33:22] ensures a better
[00:33:23] runner experience
[00:33:23] because there's
[00:33:24] fewer disruptions
[00:33:26] and it's good
[00:33:27] for property managers
[00:33:28] because they can schedule
[00:33:29] that maintenance
[00:33:30] more efficiently
[00:33:31] and eliminate
[00:33:33] these emergency
[00:33:34] repairs
[00:33:35] and the cost
[00:33:35] that goes with it,
[00:33:36] right?
[00:33:36] If we catch it early,
[00:33:37] it's not an emergency
[00:33:39] and we're not,
[00:33:40] you know,
[00:33:41] calling somebody
[00:33:41] at two in the morning
[00:33:42] and getting them
[00:33:44] out there
[00:33:44] because it's
[00:33:45] 100 degrees
[00:33:46] and in the midst
[00:33:48] of summer
[00:33:49] in the south
[00:33:50] and the air
[00:33:50] conditioned system
[00:33:51] is going down.
[00:33:53] I got one more
[00:33:54] piece here
[00:33:55] in this little
[00:33:56] set.
[00:33:58] This is a bit
[00:33:59] of a forward piece.
[00:34:00] It's called
[00:34:00] dynamic pricing models
[00:34:02] and, Ernest,
[00:34:04] the deal is here.
[00:34:06] You know,
[00:34:06] there's a rumor
[00:34:07] that some of the
[00:34:08] bigger guys
[00:34:08] are playing around
[00:34:10] with doing
[00:34:11] dynamic AI
[00:34:13] pricing models
[00:34:14] that can adjust
[00:34:16] rental rates
[00:34:17] based on market
[00:34:18] demand,
[00:34:19] seasonality,
[00:34:20] and occupancy
[00:34:21] trends in real
[00:34:22] time.
[00:34:23] So it's able
[00:34:25] to move
[00:34:25] those prices
[00:34:26] almost a little
[00:34:27] bit like what
[00:34:28] I was talking
[00:34:28] about.
[00:34:29] I'm looking
[00:34:29] at something
[00:34:29] and it's like,
[00:34:30] oh,
[00:34:30] that price
[00:34:31] just moved.
[00:34:33] This is said
[00:34:34] to be that
[00:34:35] next generation
[00:34:36] of revenue
[00:34:37] management.
[00:34:37] You know,
[00:34:38] revenue management
[00:34:39] has been under
[00:34:39] a lot of fire
[00:34:41] lately,
[00:34:41] and I think
[00:34:42] this one's
[00:34:43] going to come
[00:34:43] out known
[00:34:44] as occupancy
[00:34:45] management.
[00:34:46] It's how can
[00:34:47] we optimize
[00:34:48] our occupancy.
[00:34:49] So I think
[00:34:50] that's the new
[00:34:51] frontier of
[00:34:52] revenue management,
[00:34:53] and I think
[00:34:54] AI is going
[00:34:55] to be the
[00:34:56] driver of
[00:34:57] playing with
[00:34:58] your inventory
[00:34:59] and pricing
[00:35:01] internally,
[00:35:03] how to best
[00:35:04] optimize your
[00:35:06] occupancy rates.
[00:35:08] I think the
[00:35:09] emphasis is on
[00:35:10] real time,
[00:35:11] right?
[00:35:11] When we think
[00:35:11] about revenue
[00:35:12] management systems
[00:35:14] and pricing
[00:35:14] and software,
[00:35:15] but that's not
[00:35:15] as dynamic
[00:35:16] as the real
[00:35:16] time.
[00:35:17] True?
[00:35:19] Correct.
[00:35:20] And the key
[00:35:20] to the real
[00:35:21] time here
[00:35:21] is it's
[00:35:23] looking at
[00:35:23] a bunch
[00:35:24] of factors
[00:35:24] like,
[00:35:26] hey,
[00:35:26] I just
[00:35:27] got two,
[00:35:28] you know,
[00:35:28] some of the
[00:35:29] invisible things
[00:35:30] and I've been
[00:35:31] working with
[00:35:32] some of these
[00:35:32] things is like
[00:35:33] I just got
[00:35:34] two notices,
[00:35:35] right?
[00:35:35] I'm moving
[00:35:36] out in 60
[00:35:37] days or
[00:35:38] whatever.
[00:35:38] Those on
[00:35:39] notice units
[00:35:39] and a lot
[00:35:40] of things
[00:35:41] are not
[00:35:41] taking those
[00:35:42] into consideration.
[00:35:42] So it's like
[00:35:43] I got two
[00:35:44] units coming,
[00:35:45] I got three
[00:35:46] or four I'm
[00:35:47] trying to lease.
[00:35:48] Let me go
[00:35:49] ahead and get
[00:35:50] out in front
[00:35:51] of that and
[00:35:51] maybe adjust
[00:35:52] pricing a little
[00:35:53] bit because
[00:35:54] if I move
[00:35:55] it,
[00:35:56] you know,
[00:35:57] $25 or
[00:35:58] $50 down
[00:36:00] and I can
[00:36:00] lease them
[00:36:01] quicker,
[00:36:02] my end result
[00:36:02] is going to
[00:36:03] come out better
[00:36:03] than if I
[00:36:04] just sit here
[00:36:05] knowing I
[00:36:06] have more
[00:36:07] of these
[00:36:07] coming into
[00:36:08] inventory.
[00:36:09] So I think
[00:36:11] that's the
[00:36:12] key to
[00:36:12] what's being
[00:36:13] worked on
[00:36:14] out there
[00:36:14] right now.
[00:36:16] Yeah,
[00:36:17] gotcha.
[00:36:18] Listen,
[00:36:19] this is one
[00:36:20] of those
[00:36:20] areas,
[00:36:21] gosh,
[00:36:21] even the
[00:36:22] revenue
[00:36:22] management
[00:36:23] software
[00:36:23] that goes
[00:36:23] back 15,
[00:36:25] 17,
[00:36:25] 18 years,
[00:36:27] you know,
[00:36:27] in the
[00:36:27] airlines and
[00:36:28] hospitality space
[00:36:29] has been for
[00:36:30] a couple of
[00:36:30] decades plus,
[00:36:31] that has
[00:36:32] changed forever
[00:36:34] the financials
[00:36:35] and the
[00:36:35] financial impact
[00:36:36] of building
[00:36:37] owners,
[00:36:38] property
[00:36:38] management
[00:36:38] companies,
[00:36:39] and the
[00:36:39] ROI on that
[00:36:40] side.
[00:36:41] it has
[00:36:41] also caused
[00:36:42] those of
[00:36:43] us who
[00:36:44] are,
[00:36:44] what,
[00:36:44] vendors and
[00:36:45] suppliers and
[00:36:46] partners of
[00:36:46] the sector,
[00:36:47] how does that
[00:36:48] also factor
[00:36:48] into your
[00:36:49] products or
[00:36:50] services?
[00:36:51] So there's a
[00:36:51] lot moving
[00:36:52] around,
[00:36:53] Carrie,
[00:36:53] in this
[00:36:53] particular area,
[00:36:54] no doubt,
[00:36:55] and certainly
[00:36:56] to expect more
[00:36:57] from that.
[00:36:57] And the
[00:36:58] whole IoT,
[00:37:00] you know,
[00:37:00] the connecting
[00:37:01] in of devices
[00:37:02] and that
[00:37:02] technology has
[00:37:03] really been a
[00:37:03] fast-moving
[00:37:04] trend.
[00:37:04] We've been
[00:37:05] watching that
[00:37:05] for a number
[00:37:06] of years,
[00:37:06] and some of
[00:37:07] the leaders
[00:37:07] out in front
[00:37:08] of that also.
[00:37:08] So very,
[00:37:09] very exciting
[00:37:10] time from
[00:37:11] that perspective.
[00:37:12] So let's
[00:37:13] talk about,
[00:37:14] Carrie,
[00:37:14] how can we
[00:37:14] then take
[00:37:15] these workflows?
[00:37:16] How can we
[00:37:17] automate these
[00:37:17] workflows?
[00:37:18] How can we
[00:37:18] optimize the
[00:37:19] operations and
[00:37:19] reduce the
[00:37:20] workload at
[00:37:21] the same
[00:37:21] time?
[00:37:21] How might
[00:37:22] that look?
[00:37:23] Yeah,
[00:37:24] so,
[00:37:24] you know,
[00:37:25] Ernest,
[00:37:25] of course,
[00:37:26] we touched
[00:37:26] on earlier,
[00:37:27] micro-tasking
[00:37:28] distraction.
[00:37:29] It's a big
[00:37:29] thing.
[00:37:30] And we
[00:37:31] need to
[00:37:32] automate as
[00:37:32] many of our
[00:37:33] workflows as
[00:37:34] possible to
[00:37:35] better utilize
[00:37:36] our people,
[00:37:37] get them out
[00:37:37] of those
[00:37:38] micro-tasking,
[00:37:38] transactions,
[00:37:39] or little
[00:37:40] tasks,
[00:37:41] and personalize
[00:37:43] our service.
[00:37:44] So the
[00:37:45] biggest thing
[00:37:45] we want to
[00:37:46] accomplish is
[00:37:46] to reduce
[00:37:47] manual and
[00:37:49] repetitive tasks,
[00:37:50] something that
[00:37:50] we can train
[00:37:52] a robot to
[00:37:53] do, right?
[00:37:54] Robot being
[00:37:55] that invisible
[00:37:55] AI thing.
[00:37:58] Automated
[00:37:59] workflows can
[00:38:00] handle repetitive
[00:38:00] tasks,
[00:38:01] or as I
[00:38:03] like to
[00:38:03] say,
[00:38:04] eliminate
[00:38:04] soul-crushing
[00:38:06] work,
[00:38:06] because that's
[00:38:07] what some of
[00:38:07] this is.
[00:38:08] data input,
[00:38:09] things like
[00:38:10] that,
[00:38:10] soul-crushing.
[00:38:11] So team
[00:38:12] members don't
[00:38:13] have to
[00:38:13] spend time
[00:38:14] on those
[00:38:15] low-value
[00:38:15] activities.
[00:38:17] And by
[00:38:17] freeing your
[00:38:18] team from
[00:38:18] these
[00:38:19] Maldane
[00:38:19] tasks,
[00:38:20] they can
[00:38:21] focus on
[00:38:21] strategic,
[00:38:23] creative,
[00:38:23] or more
[00:38:24] complex work
[00:38:25] that adds
[00:38:26] value to
[00:38:26] your
[00:38:27] operations.
[00:38:30] Automated
[00:38:30] workflows can
[00:38:31] also handle
[00:38:32] tasks faster
[00:38:33] than humans,
[00:38:34] process high
[00:38:36] volumes of
[00:38:36] work more
[00:38:37] accurately and
[00:38:38] efficiently.
[00:38:40] For instance,
[00:38:41] automating
[00:38:42] payments,
[00:38:43] which just
[00:38:44] about every
[00:38:45] property does
[00:38:45] today.
[00:38:46] I don't know
[00:38:46] anybody not
[00:38:46] doing it.
[00:38:47] But just
[00:38:48] think about
[00:38:49] that one
[00:38:49] thing that
[00:38:49] we've had
[00:38:50] around for
[00:38:50] a while.
[00:38:51] It saves
[00:38:51] time,
[00:38:52] it saves
[00:38:52] labor,
[00:38:54] automatically
[00:38:55] posting payments,
[00:38:56] brings more
[00:38:57] accuracy into
[00:39:00] crediting those
[00:39:01] payments to
[00:39:02] each residence.
[00:39:03] it's able to
[00:39:04] pull those
[00:39:06] code numbers
[00:39:07] and say,
[00:39:07] yeah,
[00:39:07] that belongs
[00:39:08] to this
[00:39:09] John Smith,
[00:39:10] not that
[00:39:11] John Smith,
[00:39:12] and post
[00:39:13] those payments
[00:39:13] better.
[00:39:15] So the
[00:39:16] biggest thing
[00:39:16] automation can
[00:39:17] help us
[00:39:19] with is
[00:39:19] it can help
[00:39:21] us scale
[00:39:22] our operations
[00:39:23] without
[00:39:24] pulling on
[00:39:25] additional
[00:39:25] resources.
[00:39:26] So if we
[00:39:27] step back
[00:39:28] and just
[00:39:29] look at
[00:39:30] the amount
[00:39:31] of effort
[00:39:31] we put in
[00:39:32] the marketing,
[00:39:33] for example,
[00:39:34] we can use
[00:39:35] automation to
[00:39:36] schedule and
[00:39:37] distribute those
[00:39:38] available units
[00:39:39] to listing sites,
[00:39:40] which we're
[00:39:41] pretty much all
[00:39:42] doing,
[00:39:42] and updating
[00:39:43] those so we
[00:39:44] don't have to
[00:39:44] touch them
[00:39:44] anymore.
[00:39:46] Respond to
[00:39:47] those prospective
[00:39:48] renters that are
[00:39:49] either inquiring
[00:39:50] or scheduled
[00:39:51] tours.
[00:39:52] We can do
[00:39:54] confirmations,
[00:39:55] reminders for
[00:39:56] people coming
[00:39:57] in.
[00:39:57] Do you need
[00:39:57] to reschedule?
[00:39:58] We can do
[00:39:59] all that with
[00:40:00] automation.
[00:40:01] Even social
[00:40:02] media posting,
[00:40:05] which there's
[00:40:06] a lot of
[00:40:07] platforms,
[00:40:07] but we can
[00:40:08] now take
[00:40:10] those to
[00:40:10] another level
[00:40:11] and build
[00:40:12] those posts
[00:40:13] with AI
[00:40:13] and just
[00:40:14] create a
[00:40:15] machine.
[00:40:16] Then you
[00:40:16] have reliability
[00:40:17] on frequency,
[00:40:20] consistence of
[00:40:21] messaging,
[00:40:21] what do you want
[00:40:22] that messaging
[00:40:23] to be?
[00:40:24] By automating
[00:40:25] these tasks,
[00:40:26] apartment
[00:40:27] communities can
[00:40:28] reach a
[00:40:29] larger audience
[00:40:30] without adding
[00:40:30] more workload.
[00:40:32] We can
[00:40:33] turn on
[00:40:35] automation
[00:40:36] and do
[00:40:36] more,
[00:40:37] market us
[00:40:38] across more
[00:40:39] channels and
[00:40:40] not put that
[00:40:42] burden on
[00:40:43] our staff.
[00:40:46] This ensures
[00:40:47] that we stay
[00:40:48] in front of
[00:40:49] those vacancy
[00:40:49] rates by
[00:40:50] tracking those
[00:40:51] potential renters
[00:40:53] before units
[00:40:54] become available.
[00:40:57] AI,
[00:40:58] as we
[00:40:58] touched on
[00:40:59] earlier on
[00:40:59] this unit
[00:41:00] thing,
[00:41:00] can analyze
[00:41:01] unnoticed
[00:41:02] volume against
[00:41:02] available units
[00:41:05] to help
[00:41:06] us get out
[00:41:07] in front of
[00:41:07] it.
[00:41:08] There's just
[00:41:09] a lot
[00:41:10] earnest
[00:41:10] going on
[00:41:11] here that
[00:41:12] we can
[00:41:12] do if we
[00:41:13] just take
[00:41:14] each piece
[00:41:15] of our
[00:41:15] operation
[00:41:16] and look
[00:41:17] at what
[00:41:18] we can
[00:41:18] automate
[00:41:20] to get
[00:41:21] our people
[00:41:21] off those
[00:41:22] tasks.
[00:41:24] I was
[00:41:26] thinking as
[00:41:26] you were
[00:41:27] speaking about
[00:41:28] that whole
[00:41:28] part about
[00:41:29] scale,
[00:41:30] what does
[00:41:30] scale mean?
[00:41:33] First off,
[00:41:33] you're not
[00:41:34] going to
[00:41:34] overwhelm your
[00:41:35] current team.
[00:41:36] You have
[00:41:36] scale,
[00:41:37] you've got
[00:41:37] potential,
[00:41:38] you've got
[00:41:38] the ability
[00:41:38] to handle
[00:41:39] more than
[00:41:40] you were
[00:41:40] expecting.
[00:41:41] I also
[00:41:42] think about
[00:41:42] scale
[00:41:43] thinking
[00:41:43] 100%
[00:41:44] perfect and
[00:41:46] accurate
[00:41:46] delivery.
[00:41:48] If you
[00:41:49] think about
[00:41:49] scale and
[00:41:50] deliverables,
[00:41:51] to be able
[00:41:51] to deliver
[00:41:52] perfectly,
[00:41:52] ultimately in
[00:41:53] our world
[00:41:54] of resident
[00:41:55] satisfaction,
[00:41:56] it means
[00:41:56] five-star
[00:41:56] reviews,
[00:41:57] longer
[00:41:57] retention,
[00:41:58] less
[00:41:59] turns,
[00:42:00] less
[00:42:00] downtime,
[00:42:01] more
[00:42:02] profitability
[00:42:02] on the
[00:42:03] financials.
[00:42:03] For those
[00:42:06] of you who
[00:42:06] are vendors
[00:42:07] and suppliers,
[00:42:08] it also
[00:42:08] works for
[00:42:09] you on
[00:42:09] your side.
[00:42:09] How you
[00:42:10] deliver
[00:42:10] perfectly
[00:42:11] and how
[00:42:11] you have
[00:42:11] fabulous
[00:42:12] relationships
[00:42:13] with your
[00:42:13] property
[00:42:14] management
[00:42:14] accounts,
[00:42:14] which
[00:42:15] means
[00:42:15] they
[00:42:15] continue
[00:42:15] to
[00:42:15] continue
[00:42:16] to
[00:42:16] nurture
[00:42:16] that
[00:42:17] relationship,
[00:42:17] you
[00:42:17] block
[00:42:18] your
[00:42:18] competitors
[00:42:19] from
[00:42:19] coming
[00:42:19] in,
[00:42:20] and you
[00:42:20] continue
[00:42:20] to be
[00:42:21] valued
[00:42:21] partner
[00:42:22] to them.
[00:42:23] We think
[00:42:24] about those
[00:42:24] pieces.
[00:42:25] The word
[00:42:25] scale,
[00:42:26] Kerry,
[00:42:27] really jumps
[00:42:27] out to my
[00:42:28] ears.
[00:42:28] Your take
[00:42:29] or perspective
[00:42:30] on that?
[00:42:31] Absolutely.
[00:42:32] When I'm
[00:42:33] talking scale,
[00:42:34] I'm talking
[00:42:35] about the
[00:42:36] business
[00:42:37] The big
[00:42:37] thing in
[00:42:38] our
[00:42:38] industry
[00:42:38] right now
[00:42:39] is just
[00:42:39] staying
[00:42:40] ahead of
[00:42:41] vacancy.
[00:42:42] We're
[00:42:43] in an
[00:42:43] industry
[00:42:43] where the
[00:42:44] typical
[00:42:45] turn is
[00:42:45] 50%.
[00:42:46] Imagine
[00:42:47] a business
[00:42:47] where you're
[00:42:48] going to
[00:42:48] get 50%
[00:42:49] new customers
[00:42:49] all the
[00:42:50] time.
[00:42:51] Able to
[00:42:52] scale
[00:42:52] in marketing,
[00:42:54] for example,
[00:42:54] or accelerate
[00:42:55] leasing,
[00:42:58] hit more
[00:42:58] channels,
[00:42:59] more
[00:43:00] possibilities.
[00:43:02] Marketing is
[00:43:03] about getting
[00:43:03] your messaging
[00:43:04] out.
[00:43:04] on many
[00:43:05] channels as
[00:43:05] possible,
[00:43:07] at as
[00:43:08] little cost
[00:43:08] as possible.
[00:43:10] Through
[00:43:10] automation,
[00:43:11] we're able
[00:43:12] to do
[00:43:12] that.
[00:43:13] We're able
[00:43:13] to leverage
[00:43:14] social media
[00:43:16] better.
[00:43:16] We're able
[00:43:17] to have
[00:43:18] accurate and
[00:43:19] consistent
[00:43:20] information
[00:43:20] across our
[00:43:22] website,
[00:43:23] ILS's,
[00:43:25] the places
[00:43:26] we're listing
[00:43:27] at.
[00:43:28] That is
[00:43:30] my vision
[00:43:31] of scaling
[00:43:35] automation.
[00:43:37] That's
[00:43:38] spot on.
[00:43:39] For those
[00:43:40] of you
[00:43:40] that are
[00:43:40] here for
[00:43:41] our
[00:43:42] education
[00:43:43] webcast
[00:43:43] live,
[00:43:44] and we'll
[00:43:44] listen to
[00:43:45] it long
[00:43:45] after we
[00:43:46] finish these
[00:43:46] up.
[00:43:48] The point
[00:43:49] of scale
[00:43:49] has so many
[00:43:50] ripple
[00:43:50] effects,
[00:43:51] from a
[00:43:52] leadership,
[00:43:52] from a
[00:43:52] team building,
[00:43:53] from root
[00:43:53] calls,
[00:43:54] to onboarding.
[00:43:55] It's
[00:43:55] everywhere
[00:43:56] and all
[00:43:56] that we
[00:43:57] do.
[00:43:57] How we
[00:43:58] spill water
[00:43:59] from tasks,
[00:43:59] how we
[00:44:00] do more
[00:44:00] genius work,
[00:44:01] how we
[00:44:01] get better
[00:44:02] ROI.
[00:44:02] There's so
[00:44:03] many themes
[00:44:03] related to
[00:44:04] scale.
[00:44:04] And,
[00:44:04] Gary,
[00:44:05] so many
[00:44:05] of our
[00:44:06] educational
[00:44:07] webcasts
[00:44:07] have really
[00:44:08] either overtly
[00:44:09] talked about
[00:44:09] scale or,
[00:44:10] quite honestly,
[00:44:11] directly.
[00:44:12] But when you
[00:44:13] said scale,
[00:44:13] it just caused
[00:44:14] me to pause.
[00:44:14] And I want
[00:44:15] all of you
[00:44:15] that are
[00:44:16] thinking about
[00:44:17] scale and
[00:44:18] scalability and
[00:44:19] all the
[00:44:19] related themes
[00:44:20] and the
[00:44:21] indirect themes,
[00:44:22] there's a whole
[00:44:22] lot here and a
[00:44:23] whole lot more
[00:44:24] from that
[00:44:24] perspective.
[00:44:24] So,
[00:44:26] so,
[00:44:26] Kerry,
[00:44:26] a little
[00:44:27] earlier you
[00:44:27] talked about
[00:44:27] compliance,
[00:44:28] right?
[00:44:28] So,
[00:44:29] how can we
[00:44:30] leave in this
[00:44:30] compliance piece?
[00:44:31] How can we
[00:44:32] automate help
[00:44:32] in the area
[00:44:33] of compliance?
[00:44:34] Let's talk a
[00:44:35] little bit about
[00:44:35] that.
[00:44:36] Yeah,
[00:44:37] so,
[00:44:37] you know,
[00:44:37] Ernest,
[00:44:38] our industry
[00:44:38] is becoming
[00:44:39] more and
[00:44:39] more regulated
[00:44:40] if you just
[00:44:41] look out
[00:44:41] there.
[00:44:42] There's so
[00:44:42] many things
[00:44:43] going on.
[00:44:44] And,
[00:44:44] you know,
[00:44:45] consistency
[00:44:46] and accuracy,
[00:44:47] which we're
[00:44:48] just touching
[00:44:48] on,
[00:44:49] has become
[00:44:50] top of mind
[00:44:51] in some of
[00:44:51] the tasks we
[00:44:52] push down
[00:44:53] to our site
[00:44:53] staff.
[00:44:54] automation
[00:44:55] ensures
[00:44:56] tasks are
[00:44:57] completed
[00:44:57] uniformly
[00:44:58] and without
[00:45:00] human error.
[00:45:01] This
[00:45:02] consistency
[00:45:02] is especially
[00:45:04] beneficial to
[00:45:05] operations
[00:45:05] involving
[00:45:06] compliance,
[00:45:08] a lot of
[00:45:08] documentation,
[00:45:10] data entry,
[00:45:12] where mistakes
[00:45:13] can have
[00:45:14] huge consequences.
[00:45:16] For example,
[00:45:17] lease agreements,
[00:45:18] they're very
[00:45:19] complicated.
[00:45:19] It's not
[00:45:20] unusual to
[00:45:21] see a
[00:45:22] 20,
[00:45:23] 30,
[00:45:23] I've seen
[00:45:24] 50 and 60
[00:45:25] page lease
[00:45:26] agreements in
[00:45:27] the apartment
[00:45:28] industry.
[00:45:28] Like,
[00:45:28] how is that
[00:45:29] possible?
[00:45:30] When you
[00:45:30] start adding
[00:45:31] the addendments
[00:45:32] into some
[00:45:32] of these
[00:45:33] things,
[00:45:34] and a lot
[00:45:35] of these
[00:45:35] things are
[00:45:36] required under
[00:45:38] individual states
[00:45:39] or local
[00:45:40] laws,
[00:45:41] so then add
[00:45:42] some pets,
[00:45:43] a pet
[00:45:43] addendment,
[00:45:43] a parking
[00:45:44] addendment,
[00:45:45] other rental
[00:45:46] items,
[00:45:46] I need a
[00:45:47] garage,
[00:45:47] a garage
[00:45:48] of dim
[00:45:48] on top
[00:45:49] of that.
[00:45:49] It's a lot
[00:45:51] to lay
[00:45:51] on your
[00:45:51] staff.
[00:45:52] It's a lot
[00:45:53] of documents.
[00:45:54] It's quite
[00:45:56] confusing sometimes
[00:45:57] to get all
[00:45:57] the stuff
[00:45:58] in.
[00:45:59] Today,
[00:45:59] we can
[00:46:00] automate
[00:46:01] lease
[00:46:01] document
[00:46:02] generation,
[00:46:03] onboarding
[00:46:03] invoices,
[00:46:04] and reduce
[00:46:05] errors in
[00:46:06] those lease
[00:46:07] agreements,
[00:46:08] but not
[00:46:09] allowing that
[00:46:09] lease to
[00:46:10] leave.
[00:46:11] It doesn't
[00:46:11] come out
[00:46:12] the starting
[00:46:12] gate unless
[00:46:13] all those
[00:46:13] fills are
[00:46:14] completed,
[00:46:14] which can
[00:46:16] easily check
[00:46:17] through
[00:46:17] automation.
[00:46:19] If we
[00:46:20] look deeper
[00:46:20] at some
[00:46:21] of these
[00:46:22] state and
[00:46:22] local laws
[00:46:23] that we're
[00:46:23] navigating,
[00:46:25] you can
[00:46:26] find requirements
[00:46:27] to provide
[00:46:27] certain documents
[00:46:29] to a
[00:46:29] renter prior
[00:46:30] to signing
[00:46:31] a lease,
[00:46:32] or that
[00:46:33] lease can be
[00:46:33] claimed as
[00:46:34] invalid.
[00:46:35] I got an
[00:46:35] example for
[00:46:36] you.
[00:46:37] Maryland,
[00:46:38] state of
[00:46:39] Maryland,
[00:46:40] specifically
[00:46:41] as an
[00:46:42] example,
[00:46:43] you must
[00:46:43] provide a
[00:46:44] renter,
[00:46:45] this is a
[00:46:46] certain
[00:46:46] county I
[00:46:47] think in
[00:46:47] Maryland,
[00:46:49] with a
[00:46:49] copy,
[00:46:49] you'll love
[00:46:50] this,
[00:46:51] radon
[00:46:51] gas test
[00:46:52] report on
[00:46:53] a specific
[00:46:54] unit they
[00:46:55] will rent
[00:46:57] that it's
[00:46:58] free of
[00:46:58] radon
[00:46:58] gas.
[00:47:00] That
[00:47:00] report must
[00:47:01] be less
[00:47:01] than three
[00:47:02] years old,
[00:47:02] so you have
[00:47:04] to generate
[00:47:04] a new one
[00:47:05] every three
[00:47:05] years on
[00:47:06] a unit.
[00:47:06] There's no
[00:47:07] way to make
[00:47:07] it all on
[00:47:08] the same
[00:47:08] date.
[00:47:09] So again,
[00:47:11] through a
[00:47:11] document system
[00:47:12] that gets
[00:47:13] built down
[00:47:14] to the
[00:47:15] unit,
[00:47:16] right?
[00:47:16] So now
[00:47:17] we're dealing
[00:47:17] with documentation.
[00:47:19] Combined with
[00:47:19] some automation,
[00:47:21] those critical
[00:47:22] documents then
[00:47:23] can be placed
[00:47:24] inside the
[00:47:25] path to go
[00:47:26] and sign the
[00:47:27] lease.
[00:47:27] Like you have
[00:47:28] to present it
[00:47:29] before they
[00:47:29] sign the
[00:47:30] lease,
[00:47:31] along with
[00:47:31] an acknowledgement,
[00:47:33] hey,
[00:47:33] yeah,
[00:47:33] I've read this
[00:47:34] and I
[00:47:35] downloaded it
[00:47:36] to get to
[00:47:38] the lease.
[00:47:39] What do
[00:47:40] they call
[00:47:40] it?
[00:47:42] A confirm
[00:47:43] box where
[00:47:43] you check
[00:47:44] it,
[00:47:44] yeah,
[00:47:45] I've read
[00:47:45] and downloaded
[00:47:46] this,
[00:47:46] okay,
[00:47:46] now you
[00:47:47] can go
[00:47:47] next once
[00:47:48] you check
[00:47:48] off on
[00:47:49] it.
[00:47:50] So these
[00:47:51] are some
[00:47:51] of the
[00:47:51] things,
[00:47:52] and there
[00:47:52] are tons
[00:47:52] of examples.
[00:47:53] I could
[00:47:53] spend an
[00:47:54] hour going
[00:47:54] through all
[00:47:55] the things
[00:47:55] popping up,
[00:47:56] but that's
[00:47:57] something that
[00:48:00] overlooked by
[00:48:01] humans and
[00:48:02] you could
[00:48:02] easily end
[00:48:03] up with
[00:48:04] an issue.
[00:48:06] And then
[00:48:06] things get
[00:48:07] even more
[00:48:07] complex when
[00:48:08] we bring
[00:48:08] in some
[00:48:09] of the
[00:48:09] new rent
[00:48:09] control
[00:48:10] regulation
[00:48:10] that's
[00:48:11] happening
[00:48:11] at state
[00:48:12] and local
[00:48:12] levels.
[00:48:13] You have
[00:48:14] to track
[00:48:14] eligibility,
[00:48:16] rent caps,
[00:48:17] regulatory
[00:48:18] filings.
[00:48:19] All of
[00:48:20] this is
[00:48:23] added to
[00:48:24] your
[00:48:24] administrative
[00:48:24] workload.
[00:48:26] So again,
[00:48:27] automation is
[00:48:28] a great
[00:48:29] answer to
[00:48:29] that.
[00:48:31] And then
[00:48:31] we're also
[00:48:32] seeing now
[00:48:34] the new
[00:48:35] junk fee
[00:48:36] and rental
[00:48:36] housing
[00:48:37] act.
[00:48:38] And this
[00:48:39] is where
[00:48:40] fees in
[00:48:41] addition to
[00:48:42] rent need
[00:48:43] to be
[00:48:44] disclosed,
[00:48:45] like valet
[00:48:47] trash,
[00:48:48] pest control,
[00:48:49] all those
[00:48:50] little things
[00:48:50] that get
[00:48:51] added in on
[00:48:52] top of the
[00:48:52] rent.
[00:48:52] Those have
[00:48:53] to be fully
[00:48:54] disclosed at
[00:48:55] multiple points.
[00:48:57] And these
[00:48:58] things are
[00:48:59] nearly impossible
[00:48:59] to keep up
[00:49:00] with.
[00:49:00] costs.
[00:49:02] But if you
[00:49:04] dig deep,
[00:49:06] the fees
[00:49:07] have to be
[00:49:07] disclosed at
[00:49:08] these points,
[00:49:09] Ernest.
[00:49:10] Property
[00:49:10] listing,
[00:49:12] so in
[00:49:12] marketing,
[00:49:13] time of
[00:49:14] application,
[00:49:16] lease
[00:49:16] signing,
[00:49:17] and the
[00:49:17] renewal
[00:49:17] process.
[00:49:18] That's four
[00:49:19] different places
[00:49:20] you have to
[00:49:21] be able to
[00:49:22] present,
[00:49:23] here's every
[00:49:23] little cost,
[00:49:24] here's every
[00:49:25] little thing
[00:49:25] we charge
[00:49:26] for,
[00:49:28] here's what
[00:49:28] the application
[00:49:29] fees are,
[00:49:30] here's what
[00:49:30] our pet
[00:49:30] fees are,
[00:49:31] just everything.
[00:49:33] So again,
[00:49:33] Ernest,
[00:49:34] automation can
[00:49:35] help us
[00:49:35] manage this,
[00:49:36] and when you
[00:49:37] start to
[00:49:38] unravel all
[00:49:39] these things
[00:49:39] we have to
[00:49:40] comply with,
[00:49:41] I don't know
[00:49:41] how we can
[00:49:42] live without
[00:49:43] automating some
[00:49:44] of the stuff.
[00:49:45] It's just
[00:49:45] too much
[00:49:46] for us
[00:49:48] people to
[00:49:50] retain
[00:49:50] and obviously
[00:49:53] train new
[00:49:54] hires on.
[00:49:54] it's a lot
[00:49:55] of stuff.
[00:49:58] Yeah,
[00:49:58] there's no
[00:49:58] doubt,
[00:49:59] and so much
[00:50:00] of what we're
[00:50:00] looking to do
[00:50:01] back to this
[00:50:02] principle of
[00:50:03] scale,
[00:50:04] right,
[00:50:04] is we're
[00:50:05] also looking
[00:50:05] to ensure
[00:50:06] that a new
[00:50:07] team member
[00:50:07] can deliver
[00:50:08] perfectly,
[00:50:09] right,
[00:50:10] and they're
[00:50:10] new on
[00:50:11] board,
[00:50:11] whether that's
[00:50:12] a vendor,
[00:50:12] partner side,
[00:50:13] whether that's
[00:50:14] property management
[00:50:14] side,
[00:50:15] so how do
[00:50:15] we get them
[00:50:16] up to speed
[00:50:16] delivering
[00:50:17] perfectly
[00:50:17] every way
[00:50:18] and every
[00:50:19] day?
[00:50:19] It also
[00:50:20] reduces
[00:50:20] what?
[00:50:21] Team
[00:50:21] member
[00:50:22] churn.
[00:50:22] What is
[00:50:22] the cost
[00:50:23] of somebody
[00:50:24] departing
[00:50:24] and all
[00:50:25] that,
[00:50:25] quote,
[00:50:26] institutional
[00:50:27] knowledge
[00:50:27] that they
[00:50:28] take,
[00:50:28] and we're
[00:50:29] going to
[00:50:29] spend weeks
[00:50:30] or months
[00:50:31] or how
[00:50:31] long before
[00:50:32] we get
[00:50:32] somebody
[00:50:32] back up
[00:50:33] to institutional
[00:50:35] knowledge.
[00:50:35] The reality
[00:50:36] is that
[00:50:36] what the
[00:50:36] principles
[00:50:37] are talking
[00:50:37] about here,
[00:50:38] Carrie,
[00:50:39] it's like
[00:50:39] some person
[00:50:39] don't make
[00:50:40] me think
[00:50:40] it's all
[00:50:41] here,
[00:50:41] the tools
[00:50:41] are here,
[00:50:42] I win
[00:50:42] every day,
[00:50:43] I'm so
[00:50:43] delighted
[00:50:43] in my
[00:50:44] job,
[00:50:44] I'm so
[00:50:44] delighted
[00:50:45] in how
[00:50:45] I'm
[00:50:45] delivering,
[00:50:46] I'm so
[00:50:46] happy that
[00:50:46] people are
[00:50:47] happy with
[00:50:48] what I'm
[00:50:48] providing,
[00:50:49] both internal
[00:50:49] and external,
[00:50:50] and all of
[00:50:51] that is a
[00:50:51] win,
[00:50:51] which also
[00:50:52] goes back
[00:50:53] to team
[00:50:54] member
[00:50:54] satisfaction,
[00:50:55] which means
[00:50:55] team member
[00:50:56] longevity,
[00:50:57] and that's
[00:50:57] certainly
[00:50:58] a win
[00:50:58] on so
[00:50:58] many levels,
[00:50:59] right,
[00:50:59] Carrie?
[00:51:01] It is,
[00:51:02] and that's
[00:51:03] the big
[00:51:03] thing,
[00:51:03] there's the
[00:51:04] saying in
[00:51:05] the industry,
[00:51:06] train and
[00:51:06] retain,
[00:51:07] and I
[00:51:08] think the
[00:51:08] more you
[00:51:09] can not
[00:51:10] overwhelm
[00:51:11] someone and
[00:51:12] say,
[00:51:12] hey,
[00:51:12] here's how
[00:51:13] we fill
[00:51:13] out a
[00:51:14] lease when
[00:51:14] somebody
[00:51:15] wants a
[00:51:15] lease,
[00:51:15] and don't
[00:51:16] forget this,
[00:51:16] oh,
[00:51:17] and don't
[00:51:17] forget that,
[00:51:17] and there's
[00:51:18] 27 of
[00:51:18] Denmans,
[00:51:20] definitely a
[00:51:21] great way to
[00:51:22] lose people,
[00:51:22] so I
[00:51:24] think the
[00:51:25] more we
[00:51:25] can take
[00:51:26] those
[00:51:26] soul-crushing
[00:51:28] tasks,
[00:51:28] I call
[00:51:28] them,
[00:51:30] and put
[00:51:31] them in
[00:51:32] automation
[00:51:33] category,
[00:51:34] we can
[00:51:35] better
[00:51:35] utilize
[00:51:36] people,
[00:51:37] we can
[00:51:37] retain
[00:51:37] people,
[00:51:38] and as
[00:51:38] you said,
[00:51:39] Ernest,
[00:51:40] the cost
[00:51:40] of turn
[00:51:42] is out
[00:51:43] of sight,
[00:51:43] so if
[00:51:44] you ever
[00:51:44] add that
[00:51:45] up,
[00:51:46] that is
[00:51:46] huge.
[00:51:48] Yeah,
[00:51:48] positively,
[00:51:49] so let's,
[00:51:51] as we're
[00:51:52] coming up on
[00:51:52] the top of
[00:51:53] the hour,
[00:51:53] let's talk
[00:51:54] about these
[00:51:55] self-service
[00:51:55] options,
[00:51:56] automation
[00:51:57] working
[00:51:57] together,
[00:51:58] how that
[00:51:58] impacts and
[00:51:59] improves response
[00:52:00] time,
[00:52:01] let's say a
[00:52:02] bit more
[00:52:02] about that
[00:52:02] before we
[00:52:03] wrap up
[00:52:03] this webcast,
[00:52:04] okay?
[00:52:05] Yeah,
[00:52:05] so Ernest,
[00:52:06] self-service
[00:52:06] and automation
[00:52:07] can work
[00:52:08] hand-in-hand
[00:52:09] to improve
[00:52:10] response times
[00:52:11] at various
[00:52:12] operational
[00:52:13] stages,
[00:52:14] especially
[00:52:15] in all
[00:52:16] industries,
[00:52:17] but especially
[00:52:18] in property
[00:52:18] management.
[00:52:19] together,
[00:52:21] these two
[00:52:22] technologies
[00:52:22] streamline
[00:52:23] processes,
[00:52:24] minimalizes
[00:52:25] delays,
[00:52:26] and improve
[00:52:26] response
[00:52:27] time for
[00:52:28] renter
[00:52:29] inquiries
[00:52:30] and requests.
[00:52:31] The biggest
[00:52:32] gain here
[00:52:33] is 24-7
[00:52:34] access.
[00:52:35] Self-service
[00:52:36] portals allow
[00:52:37] residents to
[00:52:38] access frequently
[00:52:40] needed information
[00:52:41] or services
[00:52:43] on demand,
[00:52:44] such as
[00:52:45] viewing their
[00:52:46] balances,
[00:52:47] paying rent,
[00:52:48] submitting maintenance
[00:52:49] requests,
[00:52:50] or just checking
[00:52:51] their lease terms.
[00:52:52] Hey, when's my
[00:52:52] lease coming up?
[00:52:53] I might want to
[00:52:54] renew it.
[00:52:55] I might want to
[00:52:55] go looking,
[00:52:56] so how much
[00:52:56] time I have
[00:52:57] left.
[00:52:58] This reduces
[00:52:59] a volume
[00:53:00] on just
[00:53:01] those routine
[00:53:01] inquiries
[00:53:02] that staff
[00:53:03] has to
[00:53:04] handle,
[00:53:05] and it
[00:53:06] ensures that
[00:53:06] that resident
[00:53:07] gets those
[00:53:08] instant answers.
[00:53:09] It improves
[00:53:12] response times
[00:53:13] dramatically
[00:53:14] without your
[00:53:15] staff intervention,
[00:53:16] and that's
[00:53:18] a big win
[00:53:18] in my book.
[00:53:20] And, you
[00:53:21] know, I ran
[00:53:22] across a few
[00:53:22] studies,
[00:53:23] and studies
[00:53:24] show that a
[00:53:24] large percentage
[00:53:25] of online
[00:53:26] users
[00:53:27] prefer
[00:53:28] self-service
[00:53:29] options,
[00:53:30] especially for
[00:53:31] just straightforward
[00:53:32] tasks.
[00:53:33] So let me
[00:53:33] share a few
[00:53:34] stats that I've
[00:53:36] found.
[00:53:37] About 75%
[00:53:39] of consumers
[00:53:40] prefer
[00:53:41] self-service
[00:53:42] options over
[00:53:43] interacting with
[00:53:44] a customer service
[00:53:46] agent for
[00:53:47] common tasks
[00:53:47] like checking
[00:53:49] balances,
[00:53:50] you know,
[00:53:51] submitting
[00:53:51] something for
[00:53:52] service requests,
[00:53:54] or paying a
[00:53:55] bill,
[00:53:55] making a
[00:53:56] payment.
[00:53:57] About 80%
[00:53:58] of consumers
[00:53:59] expect a
[00:54:01] business to
[00:54:01] provide some
[00:54:02] form of
[00:54:03] self-service
[00:54:03] feature online,
[00:54:05] especially for
[00:54:06] these basic
[00:54:07] tasks, which
[00:54:08] really makes
[00:54:10] this a
[00:54:10] standard
[00:54:11] expectation.
[00:54:12] When over
[00:54:12] 80% want
[00:54:14] something,
[00:54:14] it becomes
[00:54:15] a standard.
[00:54:16] So this
[00:54:17] growing preference
[00:54:18] for self-service
[00:54:20] options reflects
[00:54:21] a major shift
[00:54:23] and how
[00:54:23] consumers
[00:54:24] interact with
[00:54:24] businesses,
[00:54:25] especially as
[00:54:27] digital transformation
[00:54:28] has made
[00:54:29] on-demand
[00:54:30] access services
[00:54:32] the norm.
[00:54:33] This is
[00:54:34] fueled by
[00:54:35] growing popularity
[00:54:36] of chat
[00:54:37] bots,
[00:54:38] AI-powered
[00:54:38] assistants,
[00:54:40] and self-service
[00:54:41] tools.
[00:54:42] It allows
[00:54:43] users to
[00:54:43] gain instant
[00:54:44] answers to
[00:54:45] routine
[00:54:45] questions.
[00:54:46] It can
[00:54:47] escalate
[00:54:48] issues to
[00:54:49] live agents
[00:54:50] when needed,
[00:54:50] when we need
[00:54:51] that human
[00:54:52] touch.
[00:54:53] And it's
[00:54:54] the perfect
[00:54:55] balance,
[00:54:55] again,
[00:54:56] of automation
[00:54:57] and humans
[00:55:00] to provide
[00:55:01] that personal
[00:55:02] touch.
[00:55:04] So,
[00:55:05] Kerry,
[00:55:05] where does
[00:55:06] self-service
[00:55:07] and automation
[00:55:07] therefore merge
[00:55:08] together with
[00:55:09] the multifamily
[00:55:10] side of the
[00:55:11] house?
[00:55:13] Yeah,
[00:55:13] so,
[00:55:13] Ernest,
[00:55:14] self-service
[00:55:14] is certainly
[00:55:16] not new
[00:55:17] since a
[00:55:17] widespread
[00:55:18] adoption of
[00:55:18] resident portals,
[00:55:20] which we've
[00:55:20] had for a
[00:55:20] while.
[00:55:21] But what
[00:55:22] is new
[00:55:22] is how
[00:55:23] automation
[00:55:24] can step
[00:55:25] in to
[00:55:25] enhance
[00:55:27] some of
[00:55:27] the self-service
[00:55:28] options.
[00:55:29] So,
[00:55:30] it can be
[00:55:31] used to
[00:55:33] route
[00:55:33] something as
[00:55:34] simple as
[00:55:35] a self-service
[00:55:38] initiated
[00:55:38] request,
[00:55:39] like,
[00:55:40] hey,
[00:55:40] I need a
[00:55:41] maintenance
[00:55:41] request.
[00:55:42] You go
[00:55:43] into a
[00:55:44] portal,
[00:55:45] you initiate
[00:55:45] that,
[00:55:46] well,
[00:55:46] in comes
[00:55:47] automation.
[00:55:48] It can
[00:55:48] route that
[00:55:49] to the
[00:55:49] appropriate
[00:55:51] team member
[00:55:52] or vendor.
[00:55:53] For example,
[00:55:54] that maintenance
[00:55:55] request can be
[00:55:56] automatically
[00:55:56] assigned based
[00:55:57] based on
[00:55:58] the level
[00:55:59] of priority,
[00:56:00] the type
[00:56:00] it is,
[00:56:01] is it
[00:56:01] the air
[00:56:02] condition or
[00:56:02] is the
[00:56:03] faucet leasing,
[00:56:05] what technicians
[00:56:06] available.
[00:56:06] It can
[00:56:07] look through
[00:56:08] your database
[00:56:09] and say,
[00:56:09] hey,
[00:56:10] who's on
[00:56:10] call this
[00:56:11] weekend?
[00:56:13] That immediate
[00:56:14] routing ensures
[00:56:15] that issues
[00:56:15] handled promptly
[00:56:16] and it reaches
[00:56:18] the right
[00:56:18] person
[00:56:19] faster.
[00:56:21] Automation
[00:56:21] can also send
[00:56:22] those instant
[00:56:23] confirmation
[00:56:24] the residents
[00:56:25] when they
[00:56:26] make that
[00:56:26] request,
[00:56:27] providing that
[00:56:28] reassurance that
[00:56:28] inquiry has been
[00:56:29] received and
[00:56:30] it's being
[00:56:30] processed.
[00:56:32] Additionally,
[00:56:34] automated
[00:56:35] follow-ups can
[00:56:36] schedule to
[00:56:37] notify residents
[00:56:38] of progress
[00:56:40] of their
[00:56:41] service request,
[00:56:42] reducing the
[00:56:43] need for them
[00:56:44] to check in
[00:56:45] or wait
[00:56:45] for some
[00:56:47] kind of
[00:56:47] manual update
[00:56:48] so it can
[00:56:49] keep them
[00:56:50] notified along
[00:56:50] the way.
[00:56:52] Automation
[00:56:53] can also
[00:56:54] send reminders
[00:56:55] for something
[00:56:56] as simple
[00:56:57] as rent
[00:56:58] payments,
[00:56:58] lease renewals
[00:57:00] or other
[00:57:00] important
[00:57:01] deadlines.
[00:57:02] These
[00:57:03] reminders
[00:57:04] help residents
[00:57:04] stay informed
[00:57:05] and proactive
[00:57:06] about their
[00:57:07] responsibilities.
[00:57:09] It's proven
[00:57:10] to minimize
[00:57:11] late payments,
[00:57:12] something as
[00:57:12] simple as
[00:57:13] reminders,
[00:57:13] hey,
[00:57:13] it's the
[00:57:14] first,
[00:57:14] your rent's
[00:57:15] due,
[00:57:15] it lessens
[00:57:16] rent payments
[00:57:18] or even
[00:57:19] the lease
[00:57:20] renewals,
[00:57:20] miss deadlines
[00:57:21] without staff
[00:57:22] needing to
[00:57:23] follow-up
[00:57:23] manually.
[00:57:25] It can
[00:57:25] also streamline
[00:57:26] the move-in
[00:57:27] and move-out
[00:57:28] process through
[00:57:28] a self-service
[00:57:29] portal where
[00:57:30] residents can
[00:57:30] submit those
[00:57:31] necessary forms,
[00:57:32] schedule move-ins
[00:57:33] or move-outs,
[00:57:35] complete
[00:57:35] checklist.
[00:57:37] Automation
[00:57:38] can then
[00:57:38] handle tasks
[00:57:40] like generating
[00:57:40] move-in
[00:57:41] instructions,
[00:57:42] arranging
[00:57:43] key pickups,
[00:57:45] coordinating
[00:57:45] cleaning services,
[00:57:47] all while reducing
[00:57:48] that administrative
[00:57:49] time,
[00:57:50] and ensuring
[00:57:51] that smooth
[00:57:53] transaction for
[00:57:54] our residents.
[00:57:56] So,
[00:57:56] earnest self-service
[00:57:57] has grown from
[00:57:59] a preference
[00:57:59] to a standard
[00:58:01] expectation.
[00:58:02] With online
[00:58:03] users increasingly
[00:58:05] expecting business
[00:58:06] to provide quick,
[00:58:07] convenient,
[00:58:08] secure access
[00:58:09] to essential
[00:58:09] functions,
[00:58:11] we can meet
[00:58:12] this demand
[00:58:13] by improving
[00:58:15] and improve
[00:58:16] user satisfaction,
[00:58:17] reduce support
[00:58:18] tasks,
[00:58:20] and enhance
[00:58:21] that operational
[00:58:21] efficiency,
[00:58:22] all while
[00:58:24] aligning with
[00:58:25] that digital
[00:58:26] first lifestyle
[00:58:27] of today's
[00:58:28] runner.
[00:58:30] So much,
[00:58:31] so much here
[00:58:32] and so much
[00:58:33] to cover.
[00:58:34] And can we
[00:58:34] also agree,
[00:58:35] like a train
[00:58:36] coming into
[00:58:37] a station,
[00:58:38] we take
[00:58:39] a picture,
[00:58:40] right?
[00:58:40] We take a
[00:58:40] picture at
[00:58:41] 502 and the
[00:58:41] train pulls out
[00:58:42] at 504 and the
[00:58:43] train moves
[00:58:44] forward.
[00:58:44] And in so many
[00:58:45] ways,
[00:58:45] what we've covered
[00:58:46] here today,
[00:58:47] the piece about
[00:58:48] scale,
[00:58:48] AI,
[00:58:49] self-serve,
[00:58:50] all of these
[00:58:50] pieces apply
[00:58:52] for both those
[00:58:53] of you who are
[00:58:53] managing properties
[00:58:54] from the site
[00:58:55] level all the
[00:58:56] way up to
[00:58:56] leadership.
[00:58:57] For those of
[00:58:58] you on the
[00:58:58] partner,
[00:58:59] vendor,
[00:59:00] supplier side
[00:59:01] as well,
[00:59:02] this is a
[00:59:02] conversation,
[00:59:03] Kerry,
[00:59:03] that we can
[00:59:04] only imagine
[00:59:05] that the
[00:59:05] train's going
[00:59:06] to pull in
[00:59:06] again at
[00:59:07] 704 and
[00:59:08] we're going
[00:59:08] to take
[00:59:08] another picture
[00:59:09] before it
[00:59:10] pulls out
[00:59:10] at 706
[00:59:11] as we go
[00:59:11] into the
[00:59:12] new year.
[00:59:12] Very likely,
[00:59:13] yes?
[00:59:15] Absolutely.
[00:59:16] It's a
[00:59:18] fast-moving
[00:59:19] thing and
[00:59:19] there's so
[00:59:20] much going on
[00:59:21] to optimize
[00:59:23] operations.
[00:59:24] like never
[00:59:25] before have I
[00:59:26] seen in
[00:59:26] earnest.
[00:59:27] Every tech
[00:59:28] company I
[00:59:29] know is
[00:59:29] working on
[00:59:30] some of
[00:59:31] these unique
[00:59:31] pieces to
[00:59:33] just get
[00:59:34] operations more
[00:59:36] efficient and
[00:59:36] again,
[00:59:37] get these
[00:59:38] complex tasks
[00:59:39] off of
[00:59:39] staff so we
[00:59:40] can lessen
[00:59:41] that turnover
[00:59:42] rate.
[00:59:45] Positively.
[00:59:45] As we
[00:59:46] pause today
[00:59:47] for our
[00:59:48] educational
[00:59:48] webcast,
[00:59:49] we are so
[00:59:50] elated that
[00:59:51] each of you
[00:59:51] and all of
[00:59:52] you have
[00:59:52] come to
[00:59:53] join us
[00:59:53] to both
[00:59:54] live plus
[00:59:56] as a
[00:59:56] follow-up
[00:59:56] and follow
[00:59:57] through as
[00:59:57] you'll be
[00:59:58] able to
[00:59:58] listen to
[00:59:58] this 24-7.
[01:00:00] There's so
[01:00:01] much here
[01:00:01] that we
[01:00:01] have covered
[01:00:02] and other
[01:00:02] educational
[01:00:03] programs,
[01:00:04] whether it's
[01:00:05] been strategic
[01:00:07] planning,
[01:00:08] whether it's
[01:00:09] affordable
[01:00:09] housing where
[01:00:10] we had some
[01:00:11] wonderful guests
[01:00:12] from the
[01:00:13] city of
[01:00:13] Bellevue
[01:00:15] combined with
[01:00:15] leadership at
[01:00:16] Amazon.
[01:00:18] There's so
[01:00:19] much that
[01:00:19] we've covered
[01:00:20] related to
[01:00:21] not only
[01:00:21] affordable
[01:00:21] housing,
[01:00:22] thinking about
[01:00:23] team culture,
[01:00:24] battle of
[01:00:25] the bots,
[01:00:26] it goes on
[01:00:26] and on
[01:00:26] and on.
[01:00:27] So please
[01:00:27] come into
[01:00:28] multifamily
[01:00:29] biz,
[01:00:30] look at
[01:00:31] the educational
[01:00:31] opportunities
[01:00:32] there.
[01:00:33] There's
[01:00:33] nearly
[01:00:34] 180 as
[01:00:35] we've
[01:00:35] clipped
[01:00:35] along over
[01:00:36] the last
[01:00:36] 17 plus
[01:00:37] years.
[01:00:38] And of
[01:00:38] course,
[01:00:38] you can
[01:00:39] certainly
[01:00:39] come into
[01:00:40] Power Hour
[01:00:40] and see
[01:00:40] the work
[01:00:41] that we
[01:00:41] do both
[01:00:41] on the
[01:00:42] property
[01:00:42] management
[01:00:43] side
[01:00:43] and the
[01:00:44] vendor,
[01:00:44] supplier,
[01:00:45] and partner
[01:00:45] side.
[01:00:46] So just
[01:00:46] an absolute
[01:00:47] delight to
[01:00:47] be here
[01:00:48] together.
[01:00:48] Kerry,
[01:00:49] some closing
[01:00:49] words as
[01:00:50] we wrap
[01:00:50] up for
[01:00:50] today?
[01:00:52] Well,
[01:00:52] I want to
[01:00:52] thank everyone
[01:00:53] for joining
[01:00:53] us today.
[01:00:54] Certainly a
[01:00:55] big topic
[01:00:56] and we
[01:00:56] will be
[01:00:57] covering more
[01:00:58] where AI
[01:00:59] and automation
[01:01:00] are moving,
[01:01:01] I'm sure,
[01:01:02] within the
[01:01:03] new year.
[01:01:05] Absolutely.
[01:01:05] And Kerry,
[01:01:06] every January
[01:01:07] you have a
[01:01:08] particular,
[01:01:08] I don't know,
[01:01:09] crystal ball
[01:01:10] that you look
[01:01:10] into as well.
[01:01:11] Is that what we
[01:01:12] can anticipate?
[01:01:13] I do,
[01:01:14] Ernest,
[01:01:14] and actually
[01:01:15] I have an
[01:01:16] actual crystal
[01:01:16] ball in front
[01:01:17] of me when
[01:01:18] I'm doing
[01:01:18] that.
[01:01:21] So I'm
[01:01:21] going to
[01:01:22] predict,
[01:01:24] as I do
[01:01:24] every year,
[01:01:25] and a lot
[01:01:26] of,
[01:01:27] you know,
[01:01:27] I base
[01:01:28] myself sometimes
[01:01:29] and I actually
[01:01:29] get a few
[01:01:30] of these things,
[01:01:30] but I'm
[01:01:31] going to
[01:01:31] kind of
[01:01:31] predict
[01:01:32] where I
[01:01:32] see things
[01:01:33] heading
[01:01:34] in the
[01:01:35] new year
[01:01:35] in 2025,
[01:01:36] where is
[01:01:37] technology
[01:01:38] going to
[01:01:38] take us
[01:01:39] in the
[01:01:39] new year
[01:01:39] in the
[01:01:40] multifamily
[01:01:41] housing
[01:01:41] space?
[01:01:43] Listen,
[01:01:43] I'm hearing
[01:01:44] this crystal
[01:01:44] ball,
[01:01:45] and I'm
[01:01:45] going to
[01:01:45] just ask
[01:01:46] up front,
[01:01:46] just so
[01:01:47] all of
[01:01:47] our
[01:01:47] listeners
[01:01:48] and
[01:01:49] leaders
[01:01:49] will
[01:01:49] know,
[01:01:50] does that
[01:01:50] also
[01:01:50] mean
[01:01:51] that
[01:01:51] you're
[01:01:51] going
[01:01:51] to
[01:01:51] tell
[01:01:52] us
[01:01:52] what's
[01:01:52] in
[01:01:52] the
[01:01:52] green
[01:01:53] tea,
[01:01:53] the
[01:01:53] secret
[01:01:53] ingredients
[01:01:54] in
[01:01:54] the
[01:01:54] green
[01:01:55] tea
[01:01:55] that
[01:01:55] you
[01:01:55] blend
[01:01:56] perfectly
[01:01:56] when you're
[01:01:57] looking
[01:01:57] in the
[01:01:58] crystal
[01:01:58] ball?
[01:01:58] Are you
[01:01:58] going
[01:01:58] to
[01:01:58] give
[01:01:58] us
[01:01:59] that
[01:01:59] too,
[01:01:59] the
[01:01:59] juice?
[01:02:00] You
[01:02:01] know,
[01:02:01] I do
[01:02:02] have
[01:02:02] to hold
[01:02:03] a few
[01:02:03] things.
[01:02:04] You know,
[01:02:06] I think
[01:02:07] I will
[01:02:09] reveal
[01:02:10] that
[01:02:10] on our
[01:02:11] maiden
[01:02:12] anniversary
[01:02:13] webcast.
[01:02:14] Maybe
[01:02:14] when we
[01:02:15] hit year
[01:02:16] 20,
[01:02:17] we will
[01:02:17] be doing
[01:02:18] year 18.
[01:02:20] Year 18
[01:02:21] is together
[01:02:22] next year.
[01:02:24] I will
[01:02:26] read at
[01:02:26] year 20.
[01:02:28] There
[01:02:29] we go.
[01:02:29] As I
[01:02:30] remember,
[01:02:30] you know,
[01:02:31] my dear
[01:02:31] parents
[01:02:32] saying,
[01:02:32] Lordy,
[01:02:33] Miss
[01:02:33] Claudia,
[01:02:33] we're
[01:02:34] just
[01:02:34] around
[01:02:34] the
[01:02:34] bend.
[01:02:35] Let's
[01:02:35] go.
[01:02:36] All
[01:02:36] righty,
[01:02:36] to all
[01:02:37] of you,
[01:02:37] I think
[01:02:38] Karen gave
[01:02:39] us a
[01:02:39] no on
[01:02:40] the green
[01:02:40] tea
[01:02:41] ingredients
[01:02:41] and what
[01:02:42] goes in
[01:02:42] there,
[01:02:43] but we
[01:02:43] did get
[01:02:43] an
[01:02:44] affirmation
[01:02:45] on the
[01:02:45] crystal
[01:02:45] ball.
[01:02:46] So stay
[01:02:46] tuned in
[01:02:46] January,
[01:02:47] crystal
[01:02:47] ball
[01:02:47] on
[01:02:48] the
[01:02:48] way.
[01:02:48] Take
[01:02:48] care.
[01:02:49] To all
[01:02:49] of you,
[01:02:50] we'll
[01:02:50] see you
[01:02:50] in
[01:02:50] 2025.
[01:02:51] Take
[01:02:52] care.
[01:02:56] Thank
[01:02:57] you
[01:02:57] for
[01:02:57] listening
[01:02:57] to
[01:02:58] the
[01:02:58] Multifamily
[01:02:59] Biz
[01:02:59] Power Hour
[01:03:00] webcast
[01:03:01] series
[01:03:01] with your
[01:03:02] hosts,
[01:03:03] industry
[01:03:03] experts,
[01:03:05] Carrie
[01:03:05] Kirby
[01:03:05] and
[01:03:06] Ernest
[01:03:06] Oriente.
[01:03:07] Be sure
[01:03:08] to visit
[01:03:09] multifamilybiz.com,
[01:03:11] the largest
[01:03:11] media platform
[01:03:12] for the
[01:03:13] multifamily
[01:03:13] housing
[01:03:14] industry,
[01:03:15] delivering
[01:03:15] news,
[01:03:16] events,
[01:03:17] resources,
[01:03:18] and more.