𝐑𝐞𝐯𝐨𝐥𝐮𝐭𝐢𝐨𝐧𝐢𝐳𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐮𝐫𝐯𝐞𝐲𝐬 𝐰𝐢𝐭𝐡 𝐇𝐞𝐥𝐥𝐨𝐃𝐚𝐭𝐚 𝐀𝐈 What a concept! Automated Market Surveys are the future of our industry! The traditional weekly exercise of having your leasing agents and managers call the comps is outdated and inefficient. Here's why: 𝐓𝐢𝐦𝐞-𝐂𝐨𝐧𝐬𝐮𝐦𝐢𝐧𝐠: Manual calls take valuable time away from other critical tasks. 𝐈𝐧𝐩𝐮𝐭 𝐄𝐫𝐫𝐨𝐫𝐬: Human error can lead to incorrect data entry, such as wrong prices and inaccurate comps. 𝐃𝐚𝐭𝐚 𝐈𝐧𝐚𝐜𝐜𝐮𝐫𝐚𝐜𝐲: Competitors often withhold or misreport their current information to gain a leasing advantage. 𝐒𝐩𝐫𝐞𝐚𝐝𝐬𝐡𝐞𝐞𝐭 𝐈𝐬𝐬𝐮𝐞𝐬: Constantly breaking formulas in spreadsheets disrupts workflow and accuracy. 𝐃𝐞𝐥𝐚𝐲𝐞𝐝 𝐔𝐩𝐝𝐚𝐭𝐞𝐬: Without daily or real-time updates, you might be priced higher than your comps for days or weeks before realizing the mistake, unless you're using a Revenue Management System. 𝐈𝐧𝐜𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐃𝐚𝐭𝐚: Other fees and utility chargebacks are frequently not updated correctly, leading to inaccuracies. 𝐀𝐠𝐞𝐧𝐜𝐲 𝐏𝐫𝐨𝐛𝐥𝐞𝐦: The leasing team, incentivized to have lower prices and larger specials to secure more leases, might intentionally provide incorrect information, compromising data integrity. These services will have to address several concerns besides costs, system reliability, and customization of reports. 𝐃𝐚𝐭𝐚 𝐀𝐜𝐜𝐮𝐫𝐚𝐜𝐲-Do you trust the data they are pulling is correct? How can you be certain without constant cross-checking with a manual system from time to time? Can they pull specials from all the Social Media apps companies are posting their specials on? 𝐏𝐮𝐛𝐥𝐢𝐜 𝐃𝐚𝐭𝐚 𝐋𝐢𝐦𝐢𝐭𝐚𝐭𝐢𝐨𝐧𝐬 - This system will not record Phone call only specials. Of course, the competitor's comps may not tell you that information anyway. It is a drawback of any system. This is why we have our leasing agents shop our comps occasionally, especially when we see a major change in leasing velocity for no apparent reason. 𝐈𝐧𝐭𝐞𝐠𝐫𝐚𝐭𝐢𝐨𝐧 𝐂𝐡𝐚𝐥𝐥𝐞𝐧𝐠𝐞𝐬 - Another software for your team to learn to integrate with your existing systems! This is always a consideration; the upside is that if they work as advertised, they will save your team time in the long run and give you better pricing information on your comps. I am still very excited to see these products in the Property Management area! https://lnkd.in/e4n-WFiN