In today's competitive real estate market, maintaining high occupancy levels and delivering exceptional customer service are paramount for success. RMR Residential, the residential platform acquired in 2023 by The RMR Group, a leading U.S. alternative asset management company, faced these challenges amid a declining market. However, their collaboration with UassistME transformed its residential operations and led to solid results.
Problem:
RMR Residential’s primary challenge was maintaining healthy occupancy levels in their apartment complexes amidst market fluctuations. They needed a solution to sustain customer service excellence while navigating the complexities of the residential real estate leasing market.
Opportunity:
Engaging UassistME proved to be the solution. By leveraging UassistME's capabilities, RMR Residential enhanced customer engagement, delivering accuracy in information dissemination, and catering to a higher volume of requests.
Data-Driven Insights For Better Performance:
RMR Residential and UassistME implemented various strategies to improve processes and integrate new technologies. Performance bonuses tied to conversion rates, personalized customer interaction, and the introduction of a new IVR system were among the initiatives undertaken. Additionally, migrating to a new CRM allowed for better lead management and performance monitoring.
Impressive Results:
In December 2020, UassistME connected with 22,923 potential clients, resulting in 3,451 visits and 1,534 successful leases, surpassing initial goals. Conversion rates were 15% for visits and 6.69% for leases. By Q1 2024, engagement rose to 44,466 leads with conversion rates at 29% for visits and 7.5% for leases.
Risks and Benefits:
While there were risks associated with investing in additional Business Associates, the benefits, including cost savings, bilingual support, and delegation of operations, outweighed them.
Analysis of the Improved State:
Since signing on with UassistME in June 2020, RMR Residential has significantly expanded its team, adding more Reservationists, Resident Account Specialists, a Marketing Specialist, and an Executive Assistant. Currently, UassistME supports RMR Residential with 25 full-time Business Associates, leading to substantial growth within the organization.
Conclusion:
Collaboration between RMR Residential and UassistME has not only provided solutions to significant challenges but also enhanced real estate customer service management, resulting in a solid performance.
By leveraging UassistME's expertise and capabilities, RMR Residential has transformed its operations and positioned itself for continued success in the competitive real estate market.
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