At the recent Apartmentalize conference, multifamily industry veteran and Entrata Principal, Virginia Love moderated a panel which included Tracy Bowers of Gallery Residential and Jake Jarman of Redstone Residential. The conversation delved into the impacts technology has on streamlining resident experiences and enhancing resident experiences in the ever-evolving world of multifamily property management. Below are some of the highlights of their discussion.

The Sales Process: Building Trust and Understanding

One of the best ways suppliers can win over prospects is by working to build trust and understanding before giving a hard pitch on your product. Start by doing the legwork before the initial contact. Get to know the individual you will be contacting. What are their likes and dislikes? What motivates them? Beyond that, try and get a grasp of what the company’s mission and goals are. Understanding that will help you better craft your pitch and give you a higher likelihood of success.

Jarman noted that there are four groups that help build culture at his company: team members, residents, clients, and suppliers. Suppliers are an extension of your business and as such it makes sense to choose suppliers based on how they impact your residents, team members, and clients. Suppliers that improve resident experience, improve the work life of team members, and add value to your clients are what you are looking for.

Key Takeaways for suppliers:

• Personalize Communication: Address contacts by their preferred name and avoid generic pitches.
• Do Your Research: Understand the company's values and goals before reaching out.
• Highlight Solutions: Clearly communicate how your solution solves specific problems for the property and its residents.

Current Challenges: Training and Staffing

The biggest challenges facing property managers, are training and staffing. Both panelists have limited training budgets which means it can be a struggle to attract and retain top talent. As a result, when evaluating new technology partners, be sure that it includes comprehensive training programs and ongoing professional development programs for site teams so you can put them in the best position to succeed. There’s nothing worse than investing in a new technology only to have the team not adopt it.

When implementing new technology, consider getting input and feedback from the individuals who are going to actually have to use it. Being involved in the selection process helps secure their buy-in from the beginning.

Staying Ahead of the Curve

Bowers noted that you don’t need to be an expert on every new technology. Find what works for your business and focus on that. On the other hand, Jarman advised that you should identify your competitors' strategy and what differentiates you from them. Doing so will make selling that much easier.

Implementing New Technology: Communication and Collaboration

Successful technology implementation requires clear communication and collaboration across all levels of the organization. It comes from the top down. When leadership clearly communicates the reason for adopting new technology or new processes, it takes the pressure off of middle management and increases the likelihood of success for new technology implementation.

Learn more about Entrata’s technology solutions here.