We know you’re out there – stalwarts and old-schoolers who have yet to adopt revenue management software technologies and the multi-market-cycle. You are multifamily housing veterans who can price units better than anyone, and certainly better than “a machine.” Particularly beyond the REIT and national institutional owner set, there still exists (and perhaps rightfully so) a brand of apartment owner-operator with such an innate understanding of their comps, demand patterns and exposure that they’ve got this pricing thing down cold. For those of you who count yourself among this superhuman pricing society, we hereby challenge you.
Do you have a fail-safe method for pricing apartments with revenue management software? Better yet: do you have a down and dirty simple calculation of a few market metrics that generally prices units just as good or better than a revenue management algorithm? If so, we want to hear from you. Included in the expanded asset management, NOI and pricing conference sessions at the 2013 Apartment Revenue Management Conference is Can You Beat the System? Human vs. Algorithm. This session showcases our look into the increasing complex arena where people, software, and pricing intersect, and the areas where both humans and machines may be coming up short.
Can prospects game revenue management software systems to get a lower price? Does pricing transparency substantially impact the demand and booking curves for renewals? How much control do leasing professionals have over pricing and additional fees, and can they manipulate pricing on behalf of prospects or residents? Simpson Housing Senior Vice President of Revenue Bryan Hilton, Carmel Partners Director of Revenue Management Jessica Mills, and Revenue Edge President Stacy Westbay will look at the pros and cons of the latest ways to influence system functionality and address the lingering question of whether or not operators can make better pricing decisions when left to their own devices.
“In the current evolution of revenue management in our companies and our industries, we’re interested in sharing all of the information available and proving out the question of do pricing systems work better than rule of thumb, human systems,” says Hilton.
If you have a rule of thumb that you think meets the challenge, email us and we’ll have our panel take a no-holds barred look at its upside during their presentation.
To access the Can You Beat the System? Human vs. Algorithm presentation or any of the other 14 total world-class presentations (not to mention two and a half days of great industry networking), make sure you register for the 2013 Apartment Revenue Management Conference today.
Until then, happy pricing.