Purchase of New York technology company strengthens MRI’s customer-focused residential offering with software for tracking and engaging prospects and measuring marketing effectiveness
Solon, Ohio – June 20, 2019 – MRI Software (“MRI”), a global leader in real estate software solutions, announces the acquisition of Dynamic Lead Solutions (“DLS”), a provider of technology for tracking and engaging potential residents and analyzing marketing returns. The acquisition enhances MRI Living, the company’s comprehensive and flexible range of residential real estate solutions, by giving multifamily owners and operators more tools for managing prospects – from initial inquiries and apartment viewings through to lease signature.
“In today’s omnichannel marketing environment, multifamily leasing offices require robust tracking and automation capabilities to more efficiently convert leads into leases,” says Brian Zrimsek, Industry Principal at MRI Software. “With DLS’s lead tracking and prospect management capabilities, leasing agents are better equipped to ensure that all leads are captured and followed up on, freeing them to focus on managing relationships, not data.”
DLS Chief Executive Officer Mark Goldberg, who cofounded the company in 2007, says: “Our priority from day one has been to empower companies in the multifamily sector to keep on top of all leads and make better use of their data – all while providing a complete, professional customer experience. Through our membership in MRI’s Partner Connect program, several multifamily operators already use our software in conjunction with MRI’s residential solutions. Joining the MRI family will result in tighter integration of DLS into the MRI Living suite of solutions and deliver more powerful customer relationship management capabilities to clients.”
New York-based DLS employs dashboards, data analysis, automation and customer relationship management functionality to ensure 24/7 management of viewing appointments and 100% follow-up and tracking of all leads that come in. Specifically, the solution:
- Streamlines all rental inquiries into one user-friendly, centralized system
- Provides time-management display of daily tasks and appointments
- Ensures real-time notification of all phone and email leads
- Enables analysis of return on investment (ROI) on advertising and staff performance
- Generates professional email responses including photos, floorplans and attachments with just a couple of clicks
Zrimsek notes: “We see the residential market moving from a lease focus to a customer-centric approach that puts client relationships at the core of each owner or property manager’s business, and, as such, we continue to invest in technologies that are geared for this consumer-driven approach. MRI and DLS together will deliver new ways to improve the lead management experience for both leasing agents and prospective residents.”
Tina Frankenburger, Corporate Marketing Director of JCM Living, which uses DLS and MRI to manage properties across several states, calls it the best lead tracking solution she has used in her 35 years in the multifamily industry. She says using DLS in conjunction with MRI has helped JCM’s productivity reach its highest levels ever, with income lost due to vacancies reduced beyond expectations.
“It simply puts us in a better position to close the deal and lease to a larger percentage of prospects, with follow-ups made much easier,” Frankenburger says. “What’s more, marketing reports show where dollars are working and where they are not, so informed decisions can be made on how to budget. Reports indicate why prospects are not renting, so recommendations can be made to Regional Property Managers for possible changes at the communities to make them more attractive. The result is increased traffic, occupancy and income.”
The DLS acquisition reinforces MRI’s established position in the US residential space, where its clients include industry leaders such as AvalonBay Communities, Harbor Group Management and Olympus Property. The deal follows the recent acquisition of Engage Property Technology, a leading UK-based provider of self-service online portals for the residential space, bringing additional expertise in user experience and consumer-facing apps that benefits MRI globally.
MRI champions an open and connected ecosystem enabled by its extensive and growing global partner network. It remains committed to offering choice in terms of integrating both DLS with other property management software applications and other lead management solutions with MRI’s own range of real estate solutions.
MRI will be exhibiting its MRI Living suite, including Dynamic Lead Solutions, in booth 1439 at the NAA Apartmentalize conference in Denver June 27th and 28th.
About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses – from property-level management and accounting to investment modelling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI gives organizations the freedom to transform the way communities live, work and play while elevating their business and gaining a competitive edge. For more information, please visit mrisoftware.com.
Hugh Filman, Zoe Mumba or PJ Chou