Thursday, February 17, 2011
I moved to Ireland less than a month after my college graduation, without a job or a place to live. Why this concerned my parents, I’ll never understand.
After desperately searching the classifieds for two weeks, my friend and I saw an ad for a job selling sandwiches with “The Tasty Sandwich Guy.” That’s not at all sketchy.
When we arrived at the local aquarium two days later for our joint...
Wednesday, February 16, 2011
I attended a standing-room only Resident Retention Round Table recently, and was shocked to hear the panelists basically say that no matter what you do as a resident retention strategy, your turnover will remain about the same. (Which is exactly opposite of what our research has shown!) The retention strategies discussed seemed to revolve around pricing and creating a sense of community. Once...
Tuesday, February 15, 2011
I read an intriguing point in an online discussion about revenue management: “Turn cost is a factor, but it is also a sunk cost unless you wish to favor renewals over new leases.” Ah, “unless” you favor protecting your existing revenue stream! This is a huge issue…leasing/marketing vs. retention. Which should be the priority? Loss minimization vs. revenue/cash flow maximization. Filling empty...
Wednesday, February 2, 2011
Did you know that 95 percent of sales happen after the 5th attempt?
It takes more than a smile and product knowledge to succeed in leasing—you must follow-up, too. Here are a few tips to help you create a follow-up strategy that will help you increase the number of leases you’re getting:
1. Commit to Timely Follow-Up
Follow-up with everyone who visited that day. Don’t let the follow-up, well…...