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3 days ago
Bringing Transparency to the Multifamily Integration Ecosystem
In an exciting development for the multifamily industry, Revyse, a SaaS platform dedicated to simplifying the discovery, procurement, and management of multifamily software and services, proudly announces its partnership with Propexo, a first-of-it’s-kind Integrations as a Service (IaaS) provider within the proptech ecosystem, bringing more transparency to the multifamily technology ecosystem. This collaboration is set to enhance the way multifamily operators shop for and select vendors, offering them a seamless, efficient path to evaluating the best software solutions for their needs.As a result of the monumental growth of the proptech landscape in recent years—spanning maintenance, renewals, fraud prevention, and more—the necessity for interconnected systems has never been more paramount. Yet, multifamily operators face significant time constraints when selecting compatible technologies. A recent survey conducted by NMHC and Real Foundations revealed that over 40% of participants identified resource limitations as the primary barrier to adopting new technology. The data partnership between Revyse and Propexo aims to mitigate these challenges by surfacing transparent data on vendor-level integrations within the Revyse Discovery marketplace, allowing multifamily operators to quickly see a vendor’s integration partners upfront, verifying critical system compatibility when shopping for new proptech solutions. In addition to merchandising integration data, the Revyse Discovery marketplace allows operators to explore a wide range of industry-specific products and services, read verified user reviews, engage with self-guided demos, understand pricing transparently—all before picking up the phone to talk to a Sales rep. This transparency saves multifamily operators invaluable time and resources, facilitating a smoother transition to new technologies and a smoother vendor selection process.“There are a lot of industry buzz words out there, especially around the proptech explosion.” says multifamily operator and industry advocate, Angela Flick. “When I hear things like AI, streamlined or integrations I immediately put up my guard. Understanding these functions and features are critical to protecting the overhead on both sides from a lot of pain and complexity.”Flick emphasizes the need for transparent integration data. “Truly seamless end to end technology workflows are critical to the customer experience, the ability for the onsite teams to implement and the back end teams to support. I am so excited to see this release! This is a huge step forward in validating true integrations so as operators, we can assess what will work within our tech stack.”The changing dynamics of B2B purchasing underscore the importance of this initiative. Today, nearly 96% of consumers conduct thorough research on potential tools before initiating contact with sales teams. By providing a rich repository of information and ensuring easy access to vital data, Revyse and Propexo are helping to empower multifamily operators to approach sales discussions with a well-informed perspective, fostering a more consultative and effective sales experience.About RevyseRevyse simplifies the discovery, procurement, and management of multifamily software and services. Combining forward-thinking AI with a design that puts users first, Revyse’s comprehensive platform assists multifamily industry professionals in navigating the complex landscape of proptech procurement and vendor management, supporting multifamily operators throughout the entire lifecycle–from initial vendor selection to contract renewal. About PropexoPropexo streamlines integrations for proptech companies connecting to property management software. Propexo’s unified API, straightforward documentation, and top-notch customer support helps companies build integrations up to 6x faster, dramatically reducing the costs of initial build and ongoing maintenance. Propexo helps proptechs and multifamily operators deliver amazing experiences that meet needs of residents and property managers alike.Read post
20 days ago
Google Business Profile Reporting Metrics: Navigating the Shift in Views
We know residential rental companies rely on accurate data to make informed decisions about their online presence. Recently, Google has made significant changes to its reporting metrics for Google Business Profiles (GBPs), specifically redefining what constitutes a "view." This adjustment aims to provide more precise and reliable insights for property managers and owners who leverage GBPs to connect with their audience. Let's delve into the details of this transformation and understand what it means for your business.The Evolution of Google Business Profile ViewsPreviously, Google defined "view" as various user interactions with a business profile. Whether users scrolled past the profile on Google Maps or actively clicked into it from search results, each instance was counted as a view. While this approach provided a broad overview of visibility, it also introduced potential inaccuracies in the data, as the same user might contribute multiple views within a short timeframe.Google's Refined Definition of a "View"The recent update from Google introduces a more refined definition of what constitutes a view. Instead of counting every interaction as a separate view, Google will now report only one view per user every 24 hours. This change aims to offer a more accurate representation of genuine user interest, eliminating the possibility of inflating view counts due to repeated interactions from the same user.What Property Managers and Owners Should ExpectAs a consequence of this shift in reporting metrics, property managers and owners utilizing GBP may notice a dip in their reported views. This decline doesn't reflect a decrease in actual visibility or engagement with their profiles. Instead, it mirrors the more precise methodology implemented by Google to ensure a more accurate reflection of user interest.Navigating the ChangesUnderstanding the 24-Hour Window: With the new reporting system, it's crucial to recognize that each user will contribute only one view within a 24-hour period. This means that even if a user interacts with the profile multiple times in a day, it will be recorded as a single view.Focus on Quality over Quantity: While the overall view count may decrease, property managers and owners should shift their focus to the quality of interactions. With the refined metric, each view is a more reliable indicator of genuine user interest, providing a clearer picture of the audience's engagement.Emphasizing Long-Term Trends: Instead of fixating on daily fluctuations, communities should pay attention to long-term trends in profile views. This perspective allows for a more comprehensive assessment of the impact of the changes and provides insights into the overall trajectory of user engagement.The Benefits of the UpdateWhile the adjustment in reporting metrics may initially seem like a challenge, it brings several benefits for property managers and owners leveraging GBPs:More Accurate Data: The refined definition of a view ensures that reported metrics better align with genuine user interest, offering a more accurate representation of a business's online visibility.Improved Decision-Making: Businesses can make more informed decisions based on reliable data, leading to better optimization of their Google Business Profiles and overall digital marketing strategies.Enhanced User Experience: With a focus on quality interactions, businesses can tailor their content and engagement strategies to provide a more meaningful and relevant experience for users.ConclusionIn the ever-evolving digital landscape, adapting to changes is crucial for staying ahead. Google's refinement of Business Profile reporting metrics is a positive step toward providing businesses with more accurate and actionable insights. Property managers and owners should view this change as an opportunity to gain a clearer understanding of their audience and tailor their strategies for long-term success. As with any update, the key lies in embracing the shift and leveraging it to enhance the overall online presence and engagement with the community.Read post
a month ago
The Brainiac Approach to Multifamily Buying with Revyse
Imagine you go to an ice cream shop with a menu of flavors to choose from—chocolate, vanilla, strawberry, mint chocolate chip, and many more.Feeling overwhelmed by the endless menu options and the impatient crowd behind you, you panic and order the first option on the menu: Chocolate.Later, you’re confused and unsatisfied as vanilla sounds more appealing.What just happened? This scenario is known as the paradox of choice.The paradox of choice is the idea that having too many options can make things more complicated and make you feel less satisfied with your choice. Research shows that more isn’t always better.In a world filled with options right now, it’s getting harder for people to make purchasing decisions that leave them happy and satisfied.And the multifamily industry is no exception.However, Revyse is helping alleviate the paradox of choice for multifamily operations.Want to eliminate the hassle of vetting software solutions and services? Read about how Revyse is helping the multifamily buying experience for operators.How Multifamily BuysBefore we discuss how multifamily operators buy, a quick comparison will help connect the dots.Because there’s a trend in how prospective renters start their buying journey similar to multifamily operators—they search online.Search engines. Influencers. Review sites.In fact, prospective renters reading reviews are increasingly important. A whopping 98% of renters said ratings and reviews are important to their decision-making process, according to a survey concluded by Apartmentology with 20,000 participants.But all of those methods lead to hours of research. It’s why prospective buyers or renters turn to a trusted real estate agent for help or rely on a credible source.Why? It narrows down their search—eliminating the paradox of choice.Similarly, Revyse’s multifamily-built search engine helps make software buying easier for multifamily operations.As a multifamily operator, you’re often tasked to find tools that streamline processes, improve leasing efficiency, and support your onsite teams’ effectiveness.Do you remember the days of Googling, talking to sales representatives, and taking endless demos when researching for software solutions? Now, you can eliminate the time you spend researching by starting your search on Revyse.There are too many software solutions to sift through on Google because the barrier to launching a software business is lower than it ever has been.With no-code AI applications hitting the market, the options for multifamily operators are growing exponentially. Buyers want to shortlist their options before talking to a sales representative or taking a demo.Tools like self-guided demos, transparent pricing, categorization, and consumer reviews are helping operators narrow down their options in a sea of potential on Revyse.With Revyse, you can search over 700 products and services to find verified information to inform your buying decisions. It’s like a trusted real estate agent and credible source.How Revyse WorksLet’s say you’re searching for a new touring technology solution.Here’s what you’d do on Revyse:Go to Revyse’s website.Click on “Explore.”Click on “Technology.”Click on “Touring Technology.”Voila! Read (or write) reviews of different products and services.When searching for tools that empower your teams to excel in their work, turning to verified reviews is a game-changer in narrowing down your options.With many solutions saturating the market, the paradox of choice can be overwhelming, requiring significant mental effort to navigate through.At the same time, it’s an incredible time for multifamily buying. It’s more transparent, simpler, and convenient. Thanks to people like you who generously share trusted reviews for your peers and to Revyse for providing a dedicated reviews platform tailored for multifamily.Start Your Search TodayReduce decision fatigue and start your software search with Revyse. If you’re searching for touring technology, read Realync’s verified reviews now.Read post
2 months ago
Beyond the Sale: How Trust-Actional Strategies Foster Enduring Partnerships in Multifamily Operations
In the fast-paced world of multifamily operations, as suppliers, we often find ourselves at a crossroads between the pressing demands of transactional results and the deeper, more fulfilling journey of building trust-actional relationships. Our roles, traditionally gauged by the immediacy of sales and the tangible outcomes of transactions, are evolving in a landscape where the rules of engagement are being rewritten. In this dynamic environment, we strive to embody a trust-actional approach, recognizing that the true measure of our success extends far beyond the confines of immediate sales figures. It lies in the strength of the relationships we nurture, the trust we foster, and the long-term partnerships we build with multifamily operators and property management companies. This approach, while challenging in its demand for patience and genuine engagement, promises not just fleeting victories but sustainable growth and mutual prosperity in an industry where relationships are the bedrock of success.In the realm of multifamily operations, the paradigm has shifted from a conventional focus on transactions to a more profound emphasis on fostering enduring partnerships. Throughout 2023 we started to see success transcends the mere act of sales; it hinges on cultivating trust and deploying actionable strategies that extend far beyond the initial transaction, fostering relationships that stand as the cornerstone of sustainable. In this new year, the landscape will continue to change and several thought leaders shared their viewpoint and important values when it comes to partnering with suppliers.Whether it is searching for a new supplier or continuing a partnership with a current supplier, Multifamily strategies have shifted. About 4 out of 5 people in Multifamily say their journey started by “I fell Into this industry and have never left.” The average amount of experience a Multifamily veteran has is 15 years. That is a lot of relationships, a lot of networking, a lot of trust and building credibility. Which is why we look to our trusted colleagues for leading and guiding our decisions with high trust! 44% say they look to past experience with vendors, 41% from subject matter experts in the industry or third party. Revyse survey data from June 2023 shows that 46% of operators START their buying journey by reading peer reviews, and 100% of operators say that peer reviews influence their final purchasing decisions. Ben Steward, the CRO and Co-founder of Revyse has seen the buying of product and services begin to shift in 2023. “Educational thought leadership content, founder brands, peer-to-peer conversations and transparent reviews all lend themselves to trustworthy content - long before any sniff of a transaction."The value of a trust-actional approach in selling to the multifamily industry is multifaceted and pivotal for long-term success. Trust opens the door to a discussion and opportunity, one must still have the service and product show value. You need both. In the realm of selling products and services to multifamily operators and property management companies, the distinction between a trust-actional and a transactional approach is crucial. Gavin Dickson, a National Sales Manager for TrustHab shares his perspective. “As suppliers in the multifamily industry, we're constantly balancing the need for immediate transactional results with the pursuit of trust-actional relationships. Our success isn't just in the numbers; it's in the lasting partnerships and trust we build with our clients. This approach goes beyond short-term gains, promising sustainable growth and deeper connections in an industry where relationships are key." This distinction significantly impacts how suppliers are perceived and how successful they are in establishing long-term partnerships.Deconstructing the Term Trust-actionalTrust involves multiple aspects of reliance, including consistency, commitment, honesty, transparency, dependability, and support. Building trust requires time, consistent positive interactions, and forgiveness when mistakes occur. Trust is a foundational element in all relationships, leading to stronger connections, deeper relationships, and a sense of security in personal and professional settings. Benefits of building trust include repeat business opportunities, positive word-of-mouth referrals, collaborative ventures, and long-term partnerships.Actional implies an emphasis on taking action or conducting transactions. In a business or sales context, it refers to an approach that prioritizes action, execution, or engagement in various activities related to deals, negotiations, or interactions with clients or customers.Without even fully knowing we as humans approach purchases personally and professionally through a trust-actional lense. There are 4 key areas that round out the idea of trust-actional selling. Relationship-Oriented: prioritizes building a relationship with the multifamily operator or property management company. It involves understanding their long-term goals, challenges, and how the suppliers offerings can align with and support these objectives. Deep Engagement: selling is characterized by ongoing dialogue, tailored solutions, and a consultative style. It’s about becoming a trusted advisor rather than just a supplier. Sustainable Partnerships: By focusing on the client's success, vendors can establish long-term partnerships, leading to repeat business and referrals. Value-Based Selling: This emphasizes the value and ROI of the products or services, moving the conversation away from price and towards how the offering can positively impact the client’s business.Why Trust-actional Matters to OperatorsWe checked in with a select few Property Management thought Leaders and asked them some insightful questions regarding this term: Tust-actional.Regarding Trust and Relationship Value: On a scale of 1 to 10, how important is the relationship and trust factor with a supplier in your decision-making process? Why?Mike Brewer, COO of Radco CompaniesTrue engagement begins with a genuine understanding and respect for one another as human beings. Before considering any pitch or proposal, it's imperative for me to feel a sense of sincere care and connection from a partner. The traditional Socratic approach, which often leads to predictable solutions, does not resonate with me. Likewise, grand gestures such as invitations to the Masters or the Porsche Driving Experience, though impressive, don't necessarily foster the depth of relationship I seek. The thoughtful effort to understand me beyond mere professional interactions truly matters. When this deeper connection is established, my inclination to collaborate naturally follows.Mark Chaplin, VP of Supply Chain of Buckingham(Rated a 10) Very Important. It is imperative to have reciprocal trust between vendor and customer. Although protecting the interest of Buckingham (PMC) is always priority number one, the interest of a quality vendor is a close second. Vendors help maintain the health of daily operations, often acting as an extension of the PMC; therefore, integrity to provide consistent, quality work at a fair price every transaction is a must. Conversely, the vendor must feel that the PMC supports their long-term strategic goals and not viewed as a short-term, low-cost transaction. The greater the alignment, the better the trust and ability to realize success.Feedback and Improvement Focus: How do you typically provide feedback to your suppliers about their products or services? What role does this feedback play in your ongoing relationship and decision to continue working with them?Drew Williams, Regional Manager Radco CompaniesVery directly. No sugar coating and straight, no chaser. To expect perfection is to expect failure, however, when errors or lack of synchronicity are achieved, own it, learn from it, elevate, and try again. I’ll give more than a second chance if I know we’re both in path to grow and prosper. What role does this feedback play in your ongoing relationship and decision to continue working with them? It’s critical; do-or-die. If I can’t have an open narrative and dialogue, I’ll never achieve trust. And if I never achieve trust, then we both should move on.Daniel Paulino, VP of Marketing, BozzutoWe no longer commence new pilots without a co-developed research plan that defines the business problem we are looking to address, the KPIs we need to see to justify the ongoing investment, intended timelines, and the methodology for how we will analyze the data at specific milestones throughout the pilot. It is critical to get internal buy-in from all stakeholders and also external buy-in and approval from the vendor. Without this documentation, the evaluation of the merits of the technology become subjective and open to interpretation by many individuals who will inevitably not agree. Agreeing up front BEFORE the pilot launches makes it a very easy go/no-go decision at the end of the pilot period. This process becomes the feedback and there are ongoing, regular check-ins so that the vendor has transparency into the metrics we are seeing. At the end of the pilot period, we then prepare a comprehensive review of the analytical methodology, trends, results, and our decision to either move forward with a larger scale rollout or not.Evolving Needs and Trends: In the past three years, how have your priorities or criteria changed when it comes to selecting suppliers for software, products, and services? What new elements are you considering now that weren’t as important before?Mark Chaplin, VP of Supply Chain of BuckinghamCentralization. Buckingham (PMC) now has a centralized supply chain team that is focused on processes, policies, and procedures to optimize and leverage all aspects of the supply chain process. This centralized supply chain approach includes both process and technology advances in strategic sourcing, global contracting, tactical purchasing (PR/PO), vendor management, and inventory management to name a few. Aligning centrally creates major efficiency gains including cost savings, risk reduction, governance and control, automation, product and service compliance, and vendor performance. One true north.Mike Brewer, COO of Radco CompaniesI've adopted a more deliberate and thoughtful pace in my approach. We are cautious and discerning, not easily swayed by market trends and hype. A trend I find less appealing is the strategy of some venture capitalists, whom I refer to as 'King Maker VCs.' Their primary focus on increasing unit count often leads to the forced implementation of technology solutions in the multifamily space. I am more accustomed to approaching and engaging our existing partners to prioritize understanding how their developmental roadmap aligns with ours, particularly regarding timelines. Just yesterday, I had a significant conversation with one of our partners. In this discussion, I shared our need to seek a specific solution that could alter our business relationship. My objective was twofold: firstly, to gain insight into their plans for augmenting their existing offerings, and secondly, to ensure they were fully informed about our intentions. This openness is designed to foster collaborative problem-solving or, at the very least, to provide them with ample understanding should we need to transition away from their services.Key Value Drivers: What are the top three attributes or factors you look for in a supplier that make them stand out as a potential long-term partner for your PMC?Mark Chaplin, VP of Supply Chain of BuckinghamReputation: A vendor’s reputation encompasses many factors: quality, performance, reliability, financial security, and customer service to name a handful. Typically, the vendor’s reputation speaks for itself in the industry and is no trade secret; therefore, market feedback typically draws attention to those vendors that Buckingham (PMC) seeks out. Initially these factors can be seen in the bidding/ request for proposal (RFP) process, which gives confidence in the vendor selection process and ultimately the day-to-day operations. Scalability: The vendor’s ability to offer a robust array of products and services in a broad geography is a major factor to leverage business operations. As Buckingham (PMC) grows and emerges in new markets, it is imperative that a vendor has the capability and flexibility to scale seamlessly. Vendor operations in multiple states that offer a diverse portfolio of products and services helps secure a long vendor partnership and meet the minimum requirements to be a qualified vendor. Price: Price will always be a deciding factor on vendor selection and partnership; however, Buckingham (PMC) will always consider the Total Cost of Ownership (TCO). TCO does not always mean the lowest price offered, but rather the alignment of value and price equally. Long term vendor relationships are built on TCO, which translates into the best overall value to price ration for the overall effectiveness of the entire organization.Mike Brewer, COO of Radco CompaniesPrioritize Being Helpful: I deeply appreciate the question, 'How can I be of help to you?' It signifies a readiness to support and adds significant value to our interaction. Focus on Meaningful, Infrequent Interactions: Let's make our time together count. Share updates from your life, and allow me to share mine. Take the time to understand what brings me joy and challenges I face. In these moments, exercise empathy and emotional intelligence. It goes a long way with me. Embrace an Avuncular Approach: Approach interactions with a warm, uncle-like demeanor, fostering a sense of familiarity and trust. Commit to the Long-Term Perspective: Consider the example of Mike Whaling, who patiently built a relationship with me over nearly five years. His dedication and long-term strategy have made him my first choice for all website-related needs for over a decade.In ConclusionAs we start the 2024 year building relationships with a trusted foundation is crucial in cultivating long-term partnerships. By adopting this approach, suppliers can establish a strong reputation within the industry, resulting in increased recommendations and credibility. Understanding the unique challenges faced by multifamily operators enables suppliers to offer tailored solutions that enhance client satisfaction. Trust helps to minimize price sensitivity, as clients acknowledge the added value of the products or services, thereby creating upselling and cross-selling opportunities. Regular interaction encourages a feedback loop, allowing vendors to refine and improve their offerings continuously. In summary, while transactional selling might generate quick sales, a trust-actional approach is more conducive to building sustainable, mutually beneficial relationship. Trust is the foundation of sustained success in selling to the multifamily industry, fostering enduring alliances and mutual growth.Read post