A leader in the real estate industry is increasing its lead-to-tour conversions with a little help from Emily, an artificial intelligence (AI) controlled leasing assistant, produced by New York City based automation company MeetElise.
Greystar, which manages and operates over an estimated $220 billion of real estate in more than 200 markets globally, recently reported a 112% increase in their lead to tour conversion after partnering with the team at MeetElise. With AI revolutionizing so many industries, Greystar wanted to test whether it could do the same for their leasing operations.
The company utilized the AI-powered leasing assistant in 10 of its real estate communities where it also saw a 317% increase in appointments and saved an average of 2 hours each day in staff time.
“Our goal going into this was to see if AI could match our agent conversion rates. Now we’re
not only meeting our prospect to appointment performance, but we’re also significantly
improving it with MeetElise”, said Brandon Chinn, Greystar’s Director of Innovation.
MeetElise’s AI Leasing Assistant is powered by state-of-the-art conversational machine learning models that MeetElise’s team has customized to maximize leasing team performance. This means that prospects are unable to distinguish AI assistants like Emily from a human. The technology is so sophisticated that Emily has actually been asked out on dates! The AI uses email and SMS to handle inquiries from every marketing source (community website, Apartments.com, Google, etc.), whether a prospect submits a contact form or calls in and chooses to text their questions in. Emily messages back in 5-10 minutes, 24 hours a day. Additionally, the AI is fully integrated with the property management software to ensure the most updated pricing and availability are offered. And like the perfect leasing assistant, the AI logs all activity in the CRM guest card to ensure a seamless handoff to the leasing team when a prospect comes in for an appointment.
All 10 communities in the pilot continued on with Emily because of her impact on their performance, and the power to handle today’s 24/7 nature of leasing. Both prospects and leasing teams expressed their enjoyment working with Emily.
“It’s been a pleasure working with Greystar’s Innovation, Operations, and Marketing departments to understand how we can impact their leasing operations. As our joint case study shows, this collaboration has paid off with large improvements in leasing performance and Greystar’s interest in deploying MeetElise around the U.S. Next up is determining how we can apply AI to even more of their leasing process.”, said Minna Song, MeetElise’s CEO.
MeetElise is currently working with over 45 different management companies and has over 3600 contracted communities and nearly 500K active units across the US.