Roco
Detroit, MI · Founded 2012 · Multi-family portfolio
21K+units
100+buildings
500+employees

Challenge

ROCO Real Estate, founded in 2012, experienced record growth during its first decade. CEO David Colman has a long-term hold strategy for ROCO’s assets: investing to stabilize and improve apartment buildings across America. When it came to leasing his assets, David faced several challenges:

  • Raise occupancy to profitable levels
  • Standardize process across 104 properties
  • Get better data into Yardi
Challenge
[Before Lisa] we always felt like there was really strong traffic but it just didn’t seem like that traffic was turning into appointments and the appointments were turning into move-ins
David Colman, CEODavid Colman, CEO

Solution

David chose to pilot the Lisa AI at Farmbrooke Manor, a test-bed property close to the corporate headquarters in Detroit, MI. During the month-long pilot, he kept a special eye on three key Lisa features:

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Morning Report

Daily report served at 7am. Details today’s showings across the portfolio.

Evening Feedback

Daily report served at 9pm. Presents feedback sent in by prospects after today’s showings.

Yardi Integration

Lisa sends pristine prospect and showings data to Yardi Voyager. Lisa replaces flawed human data-entry.

Lisa increased occupancy 9.32% in the first 2 months.

Lisa handled all prospect questions, scheduling, and follow-up: boosting the number of showings per day to a blistering pace. Agents were suddenly booked for a dozen or more showings per day. And David could see it all in the Morning Report.

For the first time, the on-site team didn’t need to enter prospect or showings data by hand — the Yardi integration took care of that. Staff just accepted their calendar invites for showings, and hustled to turn units ahead of move-ins. And the executives back at corporate headquarters kept up with prospect feedback.

With Evening Feedback, managers got raw market feedback on their listings, straight from the keyboards of prospects who visited. This daily drumbeat of transparency brought corporate executives right into the leasing office. Within months, the executive team ended up extending longer standard property hours across the portfolio. Executives knew what the market wanted: they read it every day.

Once we saw what happened at Farmbrooke Manor we chose to move forward and deploy Lisa across all of our properties.
David Colman, CEODavid Colman, CEO

The proof is in the numbers

305,480
prospects entered automatically per year
29,686
pipeline prospects reactivated
19.4%
traffic from Pipeline Reactivation
1.72x
auto-increased conversion
3,504
showings booked annually
You are doing everything you can to generate traffic but once that traffic comes in…that’s Lisa. You can find an automated solution for that part of the sales funnel.
Chris Bobcean, Director of Marketing

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