AI-Driven Multifamily Solutions by Spherexx
TULSA, OK
Background of AI in Multifamily
The AI lift for multifamily began with statistical modeling in 2001 to enhance operational excellence, and in 2013, algorithms introduced AI (artificial intelligence) to the multifamily sector. This marked the introduction of neural networks and machine learning in the multifamily industry, enabling the forecasting of demand.
The Addition of AI in CRM Software
In recent years, AI has made its way into Customer Relationship Management (CRM) software, empowering property management companies to engage with prospects and residents using generative AI. Generative AI, capable of creating emails, images, texts, and other media, relies on generative models. These models learn patterns and structures from training data which is then used to generate new data with similar characteristics. The result is AI responses that have a human-like quality governed by predefined policies or rules.
An Exciting Implementation in Asset Optimization
What's particularly exciting is that the transition to implementing AI for asset optimization has proven surprisingly straightforward, thanks in part to pioneering efforts by multifamily owners, operators, and REITs who adopted AI as part of an operational excellence strategy.
How Does Spherexx Use AI?
Spherexx incorporates AI and Automation into our Asset Optimization Software, BI Dashboards, and CRM Software. ILoveLeasing®, our CRM platform, leverages the generative capabilities of Chat GPT giving property management companies the confidence to deploy AI so they can focus on performance goals and more effectively manage their human resources. AI can be trained to operate like a highly efficient digital workforce.
What Do Our Clients Think?
Rose Associates oversees more than 26,000 units across New York, with approximately $2 billion in projects under development. Executive Director Scott Marino of Rose Associates noted, "Spherexx's digital marketing platform has helped our team lower the cost per lead and cost per lease by 50% while doubling lead volumes compared to the pre-implementation era."
Interested in experiencing how Spherexx can automate daily property management operations, enhance rent optimization, visualize data with BI dashboards, and accelerate the lead-to-lease conversion process with reduced employee involvement? Schedule a consultation today!