10
Sep 19

RealSource Management Increases Leases with Entrata

Posted by: Entrata | Category: Summit

Salt Lake City-based RealSource Management currently manages 21 properties with over 6,400 residential units in nine states with over 100 employees. The company began using Entrata in 2017 to create efficiencies for their teams, increase time savings and provide an added layer of technology support. 

Problem

The RealSource teams were struggling to keep up with the many tasks required in the leasing office. Sixty percent of voicemails left by prospects were not being returned by their leasing teams. They were spending far too much time entering information into their systems, and their old technology provider did not meet the needs of their property management workload. It had a time-out function that would kick associates out of their programs before being able to complete their tasks. It did not offer a single sign-on platform, which created havoc for the leasing teams. Their old provider required the use of Internet Explorer and the software was not compatible with mobile devices. All of these factors contributed to the teams spending way too much time completing everyday tasks. 

“The biggest problem was that our teams didn’t have time for anything. We needed to find a way to save them time and create efficiencies across the board, “ said Teresa Rose, senior vice president at RealSource Management 

Solution

At first, there was some pushback from the executive team. As one can imagine, change management is a difficult endeavor and one that needs to be considered carefully. After the executive team saw a demo of Entrata and was trained on the various use cases, it was an easy decision. 

“They embraced the process of integration, 100 percent said Chris Boggs, director of IT at RealSource Management. “We embraced the calls, meetings, trainings, all the resources Entrata provided. We jumped in both feet first. Our transition was very smooth. Nothing can be perfect but it was as good as it can be. 

“Once our executive team was on board, we were able to fully commit to the process of switching over our property management systems. Their first challenge was to overcome the fear of the unknown or new technology. We focused on creating a buzz within the onsite teams. We started with email campaigns and then worked our way through the training process.” 

By the time RealSource was ready for rollout and implementation, the teams were excited about the new changes and ready to start using the software on day one. 

Results

Entrata has multiple features that allow RealSource’s onsite teams to complete their work quickly and efficiently. The software does not time out, which gives their team more time to complete tasks and doesn’t cost additional time by not saving their work when it times out. Entrata offers a single sign-on function to be used for accounting, websites, core and Entratamation. And the solution can be used on multiple devices. 

“This was a no-brainer when it came to time savings and creating efficiencies for our team,” said Kim Humphries, director of operations for RealSource. “If our teams are more efficient then we will be more efficient. What’s best for them is what’s best for us.”

Since rolling out Entrata Core, RealSource has seen impactful results for its leasing teams. 

Forty-five percent of all leasing calls are converted to appointments by the Entrata leasing center and basic leasing data indicates that a person is four times more likely to lease with an appointment. The RealSource team used this data and reached the conclusion that if their team wasn’t able to answer the phone, that lease would be lost to a competitor, and they weren’t okay with that. 

“They are answering 62 percent of our calls. That tells you how many we were missing,” Humphries said.  

That’s not the only increase RealSource has seen since rolling out Entrata Core. 

“YOY occupancy, rent growth and phone calls have seen staggering increases.” Rose added.

In addition to increased metrics, Entrata’s software support and culture have been a good match for RealSource. 

“The customer service from Entrata is great,” Humphries said. “They have a monthly call to talk about leasing center, challenges, ideas, we discuss it every month and everything is handled and fixed. It’s been a great tool for us. It’s one of my favorite parts.”