Burris Property Management
Burris Property Management – For New York native Matt D’Angelo, the journey to Burris Realty Group has been as unique as the man himself—full of twists, turns and surprises.
Growing up on Long Island, Matt has always had a no-nonsense, hard-working approach to life. Never one to back down from a challenge, Matt attended West Virginia University where he earned his bachelor’s and master’s degrees. The ambitious and determined Long Islander took advantage of every opportunity that came his way and jumped at the chance to intern with the United States Olympic Committee before enlisting in the Navy.
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After returning home from the Navy, Matt read a book that changed his life: Rich Dad Poor Dad. Bitten by the business bug, he began researching, studying and discovering the world of real estate investing. After accepting a job opportunity as a college counselor at Ball State University, Matt moved to Indiana and began looking for a home. On that fateful day in 2014, Matt met Clay Burris – and the rest is history.
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In addition to purchasing their own home, Matt and Clay began to develop a strong bond in real estate investing and built an impressive portfolio of properties throughout the region. Realizing he wanted to take a bigger role in the industry and help support others on their own real estate journey, Matt obtained his real estate license and joined Clay’s team.
In his spare time, Matt enjoys spending quality time in the great outdoors with his wife, Kim, and their two crazy, amazing golden retrievers. When Matta isn’t golfing, playing it hot during paintball, or slapping pucks around the ice rink, Matta can be found hanging out with other competitive athletes at Spartan Race events. According to AppFolio Vice President Elliott Burris, the lease stage is where property management firms… [+] get their first opportunity to demonstrate customer service
It’s an all too familiar problem. When looking for an apartment, the tenant finds an available unit in an online search. She is eager to see it and asks for information on the screening date. But her request seems to be falling into a black hole. Either there is no answer, or the answer – maddeningly – comes too late. The apartment is currently under construction.
There’s a reason this problem plagues the rental industry. Between giving showings, scheduling and other tasks, overwhelmed leasing agents often have more on their plates than they can handle. An estimated 40% of calls to leasing agents go unanswered because agents are so overworked. Potential tenants are turning their attention elsewhere.
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AI developers are working to help ensure that leasing agents/property managers, and most importantly, landlords, no longer have to endure this pain. More on that in a moment.
Overload is endemic to the leasing agent profession, according to a joint John Burns Consulting-AppFolio study. In a 2018 survey, 25 percent of responding leasing agents and property managers said their most challenging obstacle was finding enough time to focus on business strategy. When asked about factors hindering business growth, respondents cited “too many manual processes” as the second main factor.
Survey respondents said the biggest obstacle to managing new business inquiries is “quick response to leads,” with nearly 43 percent citing this concern as the number one challenge in acquiring new tenants. The challenge of “training employees on qualified leads and prospects” followed in second place on this question.
Similarly, the impact of the inability to respond to potential tenants was calculated. It found that 71% of all tenants expect a response within a day or sooner, and a third will move on to possibly greener pastures if the response isn’t quick enough.
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Introducing a potential tenant to a management company’s level of customer service is in the leasing phase, says Elliott Burris, vice president of real estate software company AppFolio.
“The simple first step in any leasing process – the inquiry – offers the biggest area of dissatisfaction for a potential tenant and the biggest opportunity for property managers and leasing agents. AI is critical at the leasing stage to enable property management professionals to deliver consistent customer service, capture potential revenue and ultimately grow their business.”
In recent years, there are few real estate management tasks that haven’t been automated by software designed to help managers in virtually every aspect of their lives. They include managing tenancies, filling vacancies, juggling maintenance requests and automating the collection of rent and late fees. One software solution that seemed to elude developers was the creation of an AI rental assistant for the agent.
Such an AI rental assistant could eliminate such repetitive tasks as answering questions, scheduling showings of available apartments, or screening prospects. If necessary, a real person can step in and provide answers beyond the capabilities of a digital assistant.
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That’s what AppFolio has recently brought to the housing industry. His AI-powered conversational assistant Lisa can consolidate communication with potential tenants. Unlike a chatbot, Lisa can engage in fully automated conversations via text, giving prospects the feeling they’re interacting with a human diversity professional.
Do you remember the painful experience described at the beginning of this story? The power of conversational AI and Lisa can ensure that a potential tenant never has to go through this ordeal. After finding the ideal offer, a potential tenant can get answers to all their questions and schedule a viewing of the apartment 24-7 within minutes.
As Burris says, using an AI leasing assistant “simply creates more time for people to do what they do best.” Steve Burris worked part-time in real estate for 20 years before leaving his day job to open his own real estate and real estate business. real estate management seven years ago.
“I saw an opportunity to change what was wrong with the industry,” said Burris, Oklahoma City-based broker/owner of Kevo Properties, “including really high fees, long listing agreements and an 87 percent failure rate of new brokers in the first 24 months .”
Burris, Eric R
Burris, 52, knew that if his new concepts were going to work, he would have to “jump in full force,” he said.
His concepts? For starters, new brokers — after graduating from real estate school — can start part-time and not give up their full-time jobs until their real estate business supports the transitions. Kevo brokers include former teachers, lawyers, oil and gas engineers and others who have more than doubled their previous salaries, Burris said.
New brokers have the flexibility to work from home, set their own fees and receive on-the-ground training from successful mentors who earn bonuses if their new brokers succeed.
The new model is proving more than successful, Burris said. Since opening in 2010, the firm has grown from six agents to more than 210, opening locations in North Dallas and Tulsa. In addition, the company is working on two software patents to make the “For Sale by Owner” real estate experience easier and more enjoyable for buyers in general.
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Kevo’s annual revenue in 2016 was $211 million, Burris said. The company has three divisions: Residential Real Estate, Commercial Real Estate and Property Management.
From his office at 5225 N Shartel, Burris recently sat down with Theo to talk about his life and career. This is an edited transcript:
A: My father worked for Eastern Airlines and later for Wilson Foods. My mother was a homemaker for me and my younger brother; she worked at walmart when we were in high school. My parents are now retired and live in the Yukon. My brother works in the oil industry.
A: Yes. I played football and wrestled – for Eisenhower and John Marshall schools and later for Yukon High School. My family moved to the Yukon when I was in the tenth grade. After our landlord in The Village raised our monthly rent from $90 to $110, my parents decided to buy a house there.
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A: During high school I worked part time as a boy at Hyde Drug on NW 23rd and Meridian. It helped me buy my first car: a 1974 Firebird.
Answer: My uncle worked for G.D. Searle & Co. and he helped me – after graduating from high school – get a job there selling Metamucil, Dramamine and other drugs to pharmacies all over Oklahoma, Arkansas and much of Texas. It was a good job, but after two years I got sick of traveling. That’s when my journey took me back to Hyde Drug. They knew me from high school and I continued to visit their pharmacies with Searle. For the next seven and a half years, I managed Hyde Drug at NW 50 and Shartel (now CVS Pharmacy), which happens to be just across the street from Kev’s offices. So I’m back a stone’s throw from where I started as a manager. Prior to founding Kevo, I worked for Hobby Lobby for 14 years, during which time the company grew from 90 stores to 460. I managed five different divisions with 500 employees and oversaw production that included producing approximately 3,000 frames per day.
A: Before house flipping became big, I did it as a side job. And I got my real estate license, so
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