Top 10 of 2020 – Impacting Multifamily Housing Market, from Garin Hamburger
Updated: Jan 20
This is Part 2 of our December 2020 Cadence Connect Online session for multifamily marketers. As a guest presenter, Garin Hamburger delivered a hilarious, yet thought provoking, Fallon-style Top 10 list of trends that developed in 2020 and are here to stay into the next few years. As Senior Director, National Property Marketing, Garin’s insights span across the Greystar (now Cushman & Wakefield) national markets.
Take a look at his list. If you RSVPd for this event, the recorded video is worth looking back on. He definitely has a future in late night hosting!
1. “We might as well be FroYo” and serve ourselves = Virtual Tours
We’re now self-serve or agent assisted. It’s definitely a ‘have it your way’ approach
2. “Our prospects can go F themselves” = Freely Tour, that is, w/o an agent
How are you supporting self-guided tours? With either high tech or low tech, it’s a
3. “Take a page out of IKEA’s online catalog”
1st major retailer to implement augmented reality. Are you ready to explore AI in both the form of floor plans and even leasing agents?
4. “We might turn into Joaquin Phoenix” = Her (the AI movie)
What about voice tours and voice concierge, or even Alexa powered devices that can assist prospects and residents?
5. “The BI in Apartment 5” = Business Intelligence
For Marketing, pulling reports of subject property and direct comps where we compare average star rating across major review sites and compare it to price per square foot, Garin’s team found a correlation
6. “Unlike Chivalry, Branding is NOT Dead” = The Importance of Branding
People are not brand loyal to property management companies, but the way they behave tells a different story. (Zero Moment Of Truth about a property management company influences prospects’ decisions, so in an indirect way branding is more important than ever.)
7. “Stop responding to first contact leads!” Use automation!
Lead nurturing automation is vastly improving conversion ratios of electronic leads AND freeing up time for leasing agents to work the hottest leads.
8. “Cascada could see the future!” Every time we touch, 2005.
Multi-touch lead attribution – We want it, Yardi was first to claim they’ve given it to us, but it’s got room for improvement. Is anyone succeeding at this?
9. “Let’s be more like Indiana Jones” = Raiders of the lost ART
The lost art of customer service. Be real, be authentic. We’ve found that during this time, being real and authentic has had a bigger impact on leasing and conversion than strong sales tactics, hard closes, and feature/benefit selling.
10. “Living the Miller High Life - Lite”
Champagne taste on a beer budget, marketing budgets were CUT BIG, living on ramen. So what can we do effectively with the funds we have? How can we make that ROI sing?
Watch for the next Cadence Connect session, and join us to connect to multifamily marketers!