Consumers demand automation and instant gratification from any and all businesses. They want answers 24/7 and they don’t care if a robot is the one giving them. They care that once the robot can’t help anymore, they get connected to a real person who is up to date on what they already talked about with the bot.
The best chatbot software uses artificial intelligence to power its knowledge and capabilities. Leasing AI has been making waves in the multifamily industry this year. You probably Google chat bots at some point in the last year or at least have had a personal experience talking to an AI chatbot.
There are a lot of AI property management tools coming out right now that are geared towards multifamily and talking to rental prospects, but they all have differences that don’t seem big at first. Let’s get into one of the most defining differences that impact the consumer experience.
NATURAL LANGUAGE VS RULE BASED
What are the options for AI in property management? Well, an AI chatbot only comes in two forms. It is either natural language or rule based. Natural language bots are ones where you text it directly and it responds as if it was texting you back. The prospect can type “How many 1 bedroom are available in x number of days?” and the bot will reply with the answer.
A rule-based chatbot gives the prospect prompts that they have to answer in order to get what they are looking for. Instead of getting straight to the point, this way takes more time, and the prospect has to go through questions they might not want to answer. The best kind of AI chatbot example that gives a better idea of what a rule-based chatbot is like would be when you call customer service for your phone, internet, etc and you get a robot menu that you must go through before getting a person on the phone.
Those menu chatbots on the phone are personally very frustrating. It takes forever and sometimes you leave the “conversation” without the answers you were looking for. When it comes to the best chatbots to talk to, natural language is definitely the best. After all, the user is actually talking to the bot and not being forced to answer prompts. When it comes to best chatbot for website, natural language wins too because it’s quick and efficient. It gives prospect more time to go through your website and spend less time trying to get answers through prompts.
THE WHOLE PACKAGE
The chatbot component is very important but what else does it offer? Some chatbots for apartments are just chatbots that integrate with other CRMs and lead generation tools while others are a complete solution. Do you want to invest in a bunch of single point solutions that come from a bunch of different vendors, or do you want to invest in one, whole solution from one vendor?
When you go into budgeting meetings this is something to keep in mind. While single point solutions might all be cheaper individually, they do add up and whether or not they work together harmoniously will always be up in the air. A complete solution that offers chatbot, website conversion, lead nurture and follow-up, etc. will be more expensive but it offers more and because it is all in one, you only need to work with one vendor if something goes wrong instead of troubleshooting with a lot of different vendors.
AI LEASING ASSISTANT
PERQ’s AI Leasing Assistant is a complete, all-in-one solution with a natural language chatbot for multifamily apartments. The AI Leasing Assistant not only makes promises of higher website conversion, better lead nurture, and only handing off qualified leads to onsite teams, it actually delivers on those promises.
Take Unified Residential. In the first 60 days of hiring the AI Leasing Assistant, they saw their website conversion increase 3X and their lead to tour went up to over 80%. We have a more in-depth case study with even more metrics to show how much they’ve been able to improve their operational efficiency and reduce their operational costs.
During an era of website leads increasing dramatically due to more “looky-loos” as Dalia Kalgreen, Director of Marketing at Unified Residential, likes to call them, the leasing team is able to focus on just the qualified leads.
The battle of the bots is more than just who is the better bot, but who delivers the results they promise. Pilots and demos take time and energy. Learning as much as you can about each bot and deciding on which to invest in is important. Interested in hiring the PERQ AI Leasing Assistant? Talk to our team today.