Understanding the psychology behind residents’ decisions and leasing staff interactions with residents can go a long way in improving occupancy and retention rates, according to apartment consultant Lisa Trosien, delivered during her session “The Science and Psychology of Leasing.”
Trosien also emphasized that national renter surveys show that one of the apartment industry’s greatest deficiencies is that its leasing agents too often are unable to meet the basic needs expressed by their prospective residents. She said that trend can be reversed by focused listening, empathizing, radiating a sense of positivity and employing the “power of the pause” during discussions.
“You have to ask them what they are looking for and then meet those needs,” she said. “You have to listen. Don’t show them ‘target apartments,’ because usually those are units that they won’t be interested in. Find out what they want first and then deliver it.”
“Making sure your leasing office has a place for the agent to speak directly with the prospect without distractions or the need to multi-task is so important,” Trosien said. “And when a prospect is finished speaking, then the leasing professional should pause a few seconds. This shows respect and conveys that you listened to everything that they had to say.”
“Using phrases such as ‘Uh-huh,’ ‘I see,’ ‘Tell me more about it,’ and nodding will help the leasing agent connect with the prospective resident,” Trosien said.
Trosien said leasing professionals should treat every day on the job like they are on a job interview and it’s the prospect who is conducting the interview. When addressing prospective residents, she said leasing professionals should imagine every time that these prospects have sticky-notes attached to their foreheads that read, “Make Me Feel Special.”
She added that showing some vulnerability—such as having new agents wear “I’m New” buttons helps to create more personal connections.
“And make sure your staff projects the look of confidence,” she said. “No one wants to walk into a room that feels ‘dead,’ with no energy,” she said.
Working within surroundings that are similar to what the prospect feels comfortable with also will improve conversion rates. “Use modest furniture, not the super high-end stuff, when showing an apartment to prospects with modest income,” she said. “Have your staff’s dress code match the demographic of the type of prospects you have walking in. This feeling of ‘similarity’ helps to create a positive connection.”
She said apartment communities must add emotion to their presentations. “People buy based on how the product makes them feel,” Trosien said. “So go ahead and ask them, ‘how does this apartment make you feel?”
Elizabeth Folger, Marketing Director, Capstone Management, Greensboro, N.C., said, “It was just as important to me to hear about all the things that I shouldn’t be doing, as well as those that I should. You have to train your staff to break these bad habits.”
The session was straightforward and funny, said Mike Carrasco, Manager, Covey Apartments, Salt Lake City. “It’s amazing that many of today’s residents have just a 9-second attention span—the same as a goldfish. And I never realized why it’s so important to avoid ‘targeted apartments’ for leasing staff. If you have them working so hard to fill a particular unit to a prospect who doesn’t want it, you’re going to end up with an unhappy resident and all kinds of problems.”
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