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HelloData’s Post

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2,578 followers

1mo

🎙💡Our CEO Marc Rutzen jumped on the official MultifamilyCollective podcast to share his thoughts on how automation and AI can save us from the typical market research and pricing treadmills. If you want to hear more about how we see AI being leveraged across multifamily real estate, or about the growth of Hellodata.ai since our first launch, check out the MultifamilyCollective's full video on YouTube ⬇ https://lnkd.in/gmMUEdpQ #multifamily #proptech #HelloData

Transcript

We're doing the same thing, we're just doing it at scale, so within a comp set. You know if if your pricing for your own property. If you have a floor plan with really high exposure, your knee jerk reaction is I'm going to cut price right? Like get them leased. I I gotta get them leased? I gotta maintain high occupancy. 100% makes sense. But you wouldn't do that if you knew competitors AB and C with very similar units, same same type of floor plan are actually at very low exposure and are raising their price. And you could ascertain this by going to their websites right and and looking to see how many units they have available. Basically what we do is we kind of automate that process that people would go through, go to competitor AB and C, see the exact floor plans that are very similar to yours, gauge what their exposure is on those floor plans, and then see, hey, if they're all going to raise price, you know, if they're exposure is low, they're going to raise price, right, Right. So then you should also raise price, just not as much as there is if your exposure is really hot. So that's the concept, right? Like know what's going on at your property, but also the supply and demand. Characteristics of your your market that you're directly competing with and do it all from public data and use that to advise people on privacy.

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