As we approach the halfway mark of 2023, it’s crucial for multifamily professionals to stay ahead of industry trends. Mike Wolber, Chief Revenue Officer of Rent Dynamics, shares valuable insights on the key developments shaping this year’s multifamily landscape. From the importance of flexibility in proptech solutions to innovative conference formats and the rise of social selling, let’s explore the trends that are making waves in the industry.
The Power of Flexibility in Proptech Companies
In the fast-paced world of enterprise technology, flexibility is no longer an option; it’s a requirement. Wolber emphasizes that the most successful proptech companies in 2023 will be those that offer flexibility to accommodate different operating models. Whether you have a centralized, property-centric, or hybrid approach, the ability to adapt to your unique needs is paramount.
Look for proptech providers with flexible APIs and seamless data-sharing capabilities. They should also offer service levels tailored to your specific requirements, regardless of the size and complexity of your multifamily operations. The emphasis on flexibility will be evident through increased proof of concepts and bake-offs to demonstrate their adaptability.
Innovations in Multifamily Conferences and Content
Traditional conferences have long been a staple in the multifamily industry, but 2023 brings a shift in the landscape. While established conferences still hold value, there is a growing appetite for fresh perspectives and niche events. Wolber predicts that this year will see a wave of new conferences organized by creators and brands, offering innovative formats and experiences.
These emerging events will challenge the norm and provide unique opportunities for networking and learning within specific areas of interest. Additionally, multifamily professionals can expect an increase in content, courses, and communities that offer alternative avenues to gain industry insights and forge meaningful connections.
Social Selling Takes Center Stage
Social media continues to shape industries across the board, and multifamily is no exception. Wolber highlights the rising importance of social selling as a norm for top-performing teams. In 2023, professionals are increasingly leveraging social platforms to engage with their audience and build personal brands.
By actively participating in social conversations, sharing insights about their work and the industry, multifamily experts can drive demand generation and establish thought leadership. Embracing social selling enables vendors and operators alike to strengthen their brand presence and cultivate relationships within the industry.
As we progress into the second half of 2023, it’s clear that flexibility, innovation, and social selling are shaping the multifamily landscape. Proptech companies that prioritize adaptability to various operating models will thrive in meeting the industry’s evolving needs. The emergence of new conference formats and the availability of diverse content and communities provide professionals with fresh perspectives and networking opportunities.
Lastly, social selling has become a crucial practice for those who wish to stay ahead in the multifamily arena. By embracing these trends, multifamily stakeholders can position themselves for success in the dynamic and competitive market.