HARD TO LOVE?
JULY. 27TH. 2015 | #RWUC
© 2015 REALPAGE, INC. ALL TRADEMARKS ARE THE PROPERTY OF THEIR RESPECTIVE OWNERS. ALL RIGHTS RESERVED.
FORWARD-LOOKING STATEMENT
This presentation contains "forward-looking statements” regarding RealPage and our business, including statements relating to our expected, possible or assumed product
or service offerings, solutions footprint, results of operations, growth, expenditures, customer behaviors, market opportunities and migrations to our products or our
competitors’ businesses. Forward-looking statements are based on management’s beliefs and assumptions and on information currently available to management.
Forward-looking statements include all statements that are not historical facts and often may be identified by terms such as “expects,” “believes” “plans” or similar
expressions and the negatives of those terms. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results,
performance or achievements to be materially different from any results, performance or achievements expressed or implied by such forward-looking statements. Factors
that could cause or contribute to such material differences include, but are not limited to, the following: (a) the possibility that general economic conditions, including leasing
velocity, or uncertainty cause information technology spending, particularly in the rental housing industry, to be reduced or purchasing decisions to be delayed; (b) an
increase in insurance claims; (c) an increase in customer cancellations; (d) the inability to increase sales to existing customers and to attract new customers; (e)
RealPage's failure to integrate acquired businesses and any future acquisitions successfully; (f) the timing and success of new product introductions by RealPage or its
competitors; (g) changes in RealPage's pricing policies or those of its competitors; (h) legal or regulatory proceedings; (i) inability to complete the development or
integration of our various products or to deliver new or enhanced functionality on a timely basis; (j) inability to achieve revenue growth or enable margin expansion; (k) the
discovery of facts and circumstances not currently available to management; and (l) such other risks and uncertainties described more fully in documents filed with or
furnished to the Securities and Exchange Commission ("SEC") by RealPage, including our Quarterly Report on Form 10-Q previously filed with the SEC on May 8, 2015.
RealPage undertakes no duty to update this information except as required by law.
Additional Important Notices
•
This material contains information that is confidential and/or proprietary to RealPage. It should not be provided to
non-attendees without prior written consent from RealPage.
•
REALPAGE is a registered trademark of RealPage, Inc. This presentation also may contain additional trademarks and service marks of ours and of other
companies. We do not intend our use or display of other companies’ trademarks or service marks to imply a relationship with, or endorsement or sponsorship
of us by, such other companies.
•
This material is provided for informational purposes only. It is not legal or accounting advice and should not be considered to be a substitute for such advice.
•
The opinions expressed here are those of the author or presenter and do not necessarily reflect the positions of RealPage.
© 2015 REALPAGE, INC. ALL TRADEMARKS ARE THE PROPERTY OF THEIR RESPECTIVE OWNERS. ALL RIGHTS RESERVED.
1
I THOUGHT THIS WAS ABOUT CONTACT CENTERS . . . ?
• Relationships drive results
• Know what you want from the relationship
• Understand what others want from relationships
• Getting the first date with prospects
• Getting residents to stay in love with you
© 2015 REALPAGE, INC. ALL TRADEMARKS ARE THE PROPERTY OF THEIR RESPECTIVE OWNERS. ALL RIGHTS RESERVED.
2
RELATIONSHIPS DRIVE RESULTS
• Interactions and transactions don’t occur in a vacuum (e.g.
calls, emails, chats)
• Relationships take time, but they all have a starting point
• Relationships are the sum of every interaction, transaction,
experience, disappointment and pleasant surprise
• Great relationships aren’t built on neglect, inconsistency or
broken promises
© 2015 REALPAGE, INC. ALL TRADEMARKS ARE THE PROPERTY OF THEIR RESPECTIVE OWNERS. ALL RIGHTS RESERVED.
3
RELATIONSHIPS ARE BUILT ON EXPERIENCES
• Net Promoter Concept
• Willingness to recommend (0-10 likelihood)
• Net Promoter Score = Promoter % - Detractor %
• Detractors (0-6)
•
•
Likely to actively discourage others
Won’t lease (prospect) or stay (resident)
• Passive (7-8)
•
•
Not actively looking to leave or stay, but might date others....
“Satisfied”
• Promoters (9-10)
•
•
•
Want others to enjoy the experience too
Want to stay
Willing to buy and pay more
© 2015 REALPAGE, INC. ALL TRADEMARKS ARE THE PROPERTY OF THEIR RESPECTIVE OWNERS. ALL RIGHTS RESERVED.
4
WHAT DO YOU WANT FROM YOUR RELATIONSHIPS?
• More leases, faster
• High occupancy
• High resident retention
• Rent improvement
• Optimized marketing spend
• Effective local teams
© 2015 REALPAGE, INC. ALL TRADEMARKS ARE THE PROPERTY OF THEIR RESPECTIVE OWNERS. ALL RIGHTS RESERVED.
5
WHAT DO THEY WANT?
• Prospects
• Residents
• Local leasing team
• Local maintenance team
• Owners and managers
© 2015 REALPAGE, INC. ALL TRADEMARKS ARE THE PROPERTY OF THEIR RESPECTIVE OWNERS. ALL RIGHTS RESERVED.
6
ON-SITE TEAMS MISS 40-60% OF LEASING CALLS
With Level One
On-Site
100 Phone Leads
60|60%
Inquiries Qualified
100|99%
15|25%
Visits Set
42|42%
11|75%
Actual Visits
31.5|75%
3.3|30%
Traffic-to-Move In Ratio
9.45|30%
Source: Level One multi-year
call data and leasing studies
© 2015 REALPAGE, INC. ALL TRADEMARKS ARE THE PROPERTY OF THEIR RESPECTIVE OWNERS. ALL RIGHTS RESERVED.
MORE LEASES
DON’T MISS THE FIRST DATE !
• Study of 8,000 missed leasing phone calls
• 80% (6600) did NOT leave a voice mail
• 50% of visits set are SAME DAY
• Prospects who set a visit convert to lease 4 times higher
• 91% of visits set within 5 days of first contact
Days between initial contact and visit date
LEASES
30000
25000
20000
15000
10000
5000
0
MULTI-FAMILY LEASING – ARE YOU ANSWERING?
Sum of Web Chat Leases
Sum of Phone Leases
Sum of Email Leases
Same
Day
245
17190
550
Day 1-5
Day 6-10
599
20982
3134
73
2034
735
© 2015 REALPAGE, INC. ALL TRADEMARKS ARE THE PROPERTY OF THEIR RESPECTIVE OWNERS. ALL RIGHTS RESERVED.
Day 1115
33
613
321
Day 1620
16
326
176
Day 2125
11
222
101
Day 2630
6
115
100
Sources: RentLinx; Level One multiyear call data and leasing studies
Day 30+
26
525
349
RELATIONSHIP DECISIONS ARE FAST !
• Prospects buy as fast as they shop
• 54% move in within 30 days
• 78% move in within 60 days
Days between initial contact to move-in
50000
45000
40000
35000
30000
25000
20000
15000
10000
5000
0
Days 1-15 Days 16-30 Days 31-45 Days 46-60 Days 61-75 Days 76-90
© 2015 REALPAGE, INC. ALL TRADEMARKS ARE THE PROPERTY OF THEIR RESPECTIVE OWNERS. ALL RIGHTS RESERVED.
Day 90+
Source: Level One multi-client
leasing studies
WHO IS SETTING UP YOUR FIRST DATE?
Applicants
Hired/Answering
Calls
Training Type
On Site
Level One
?
<10%
?
Documented,
constantly
revised, low
instructor ratio,
multiple
techniques,
competency
testing
Training Duration
?
4 Weeks
Certification to
Production (Test)
?
Yes
Ongoing Training
?
Yes
Active Daily
Management
?
Yes
© 2015 REALPAGE, INC. ALL TRADEMARKS ARE THE PROPERTY OF THEIR RESPECTIVE OWNERS. ALL RIGHTS RESERVED.
Robust Formal
?
Yes
On-site team:
•
•
•
•
•
•
Leasing Calls/Email
Tours
Maintenance staff
Vendors
Residents
???
Level One:
• Leasing Calls/Email
STAYING IN A RELATIONSHIP
• Reasons given for resident dissatisfaction
•
•
•
•
•
•
•
•
•
•
Rental rates
Poor grounds/common area upkeep
Disorganized staff/staff communication
Quality of response to maintenance requests
Overall customer services of site staff
Quality of parking/parking availability
Concerns over security/safety/lighting
Lack of upgraded amenities
Pets not on leash/pet waste removal
General lack of preventative maintenance
© 2015 REALPAGE, INC. ALL TRADEMARKS ARE THE PROPERTY OF THEIR RESPECTIVE OWNERS. ALL RIGHTS RESERVED.
Source: Property Management Insider,
July 22, 2013
STAYING IN A RELATIONSHIP - MANAGING MAINTENANCE
• Reasons given for resident dissatisfaction
•
•
•
•
•
•
•
•
•
•
Rental rates
Poor grounds/common area upkeep
✔
Disorganized staff/staff communication ✔
Quality of response to maintenance requests ✔
Overall customer services of site staff ✔
Quality of parking/parking availability
Concerns over security/safety/lighting ✔
Lack of upgraded amenities
Pets not on leash/pet waste removal ✔
General lack of preventative maintenance ✔
© 2015 REALPAGE, INC. ALL TRADEMARKS ARE THE PROPERTY OF THEIR RESPECTIVE OWNERS. ALL RIGHTS RESERVED.
Source: Property Management Insider,
July 22, 2013
STAYING IN A RELATIONSHIP - MANAGING MAINTENANCE
• Reasons given for resident dissatisfaction
•
•
•
•
•
•
•
•
•
•
Rental rates
Poor grounds/common area upkeep
✔
Disorganized staff/staff communication ✔
Quality of response to maintenance requests ✔
Overall customer services of site staff ✔
Quality of parking/parking availability
Concerns over security/safety/lighting ✔
Lack of upgraded amenities
Pets not on leash/pet waste removal ✔
General lack of preventative maintenance ✔
© 2015 REALPAGE, INC. ALL TRADEMARKS ARE THE PROPERTY OF THEIR RESPECTIVE OWNERS. ALL RIGHTS RESERVED.
Source: Property Management Insider,
July 22, 2013
STAYING IN A RELATIONSHIP - MANAGING MAINTENANCE
• Reasons given for resident dissatisfaction
•
•
•
•
•
•
•
•
•
•
Rental rates
Poor grounds/common area upkeep
✔
Disorganized staff/staff communication ✔
Quality of response to maintenance requests ✔
Overall customer services of site staff ✔
Quality of parking/parking availability
Concerns over security/safety/lighting ✔
Lack of upgraded amenities
Pets not on leash/pet waste removal ✔
General lack of preventative maintenance ✔
© 2015 REALPAGE, INC. ALL TRADEMARKS ARE THE PROPERTY OF THEIR RESPECTIVE OWNERS. ALL RIGHTS RESERVED.
Source: Property Management Insider,
July 22, 2013
TAKE THE SURVEY AND
Y O U
C O U L D
Click the survey icon.
Complete the survey for THIS SESSION to receive ONE ENTRY.
The more sessions YOU ATTEND, the MORE chances you have to WIN.
© 2015 REALPAGE, INC. ALL TRADEMARKS ARE THE PROPERTY OF THEIR RESPECTIVE OWNERS. ALL RIGHTS RESERVED.
15
QUESTIONS?
Michael Daley
Michael.Daley@RealPage.com
Jeremy Batson
Jeremy.Batson@RealPage.com
© 2015 REALPAGE, INC. ALL TRADEMARKS ARE THE PROPERTY OF THEIR RESPECTIVE OWNERS. ALL RIGHTS RESERVED.
16