Leasing Tips for a ‘Microwave’ Society
Consumers today are living in a “microwave” society. Expectations are high. Patience is thin.
“People today stand next to their microwaves while they are in operation, thinking/hoping that this will make the food cook faster,” says Lisa Trosien, President of the ApartmentExpert.com, who spoke with Don Sanders, Principal of Trainer Don's World, during a 2014 NAA Education Conference & Exposition session “The Path of Lease Resistance,” in June in Denver.
The pair offered these statistics and operations advice:
- In a survey of 250 leasing professionals, 32 percent did not know their communities’ marketing sources; and 36 percent had never reviewed the marketing messages that were published.
- Three of five leasing agents will tell their supervisor that prospective callers “only want to know how much the rent is going to be,” but after reviewing 200 calls made, only seven actually demanded just the price.
- When asked to define “admin fee,” Trosien asked four different leasing professionals at one property and heard four different answers. “The inability to explain this can create a feeling of distrust with the prospect,” Trosien says.
- When taking a phone call into the leasing office, “I’m so glad you called” is the best opening line to use.
- The chances of “getting the business” will improve by 400 percent for those who respond to email requests within one minute, according to Velocify. Emails that sit idle for 20 minutes are considered “old” and those left for 24 hours have only a 17 percent chance of success.
- Determine the “positives” about living at your community, compare them to the negatives of your competition, and drive those points home to prospective residents. Contrarily, do the same with your weaknesses, and be ready to speak to them because you know that your competition is doing the same.
- Survey results show that a glut of consumers’ calls are made 5 to 10 minutes prior to normal business hours, with the callers’ hopes of being the first message heard when staff arrives. Leasing offices should plan for this, accordingly.
- Leasing professionals only asked for the callers’ name on 60 percent of incoming calls.
- Leasing tour appointment confirmation calls were not made on 69 percent of appointments.
- Be sure to hit all the key selling points during a property tour. Trosien says she once forgot to show off a closet, so as a reminder, she tied a red ribbon on the door handle.
- Five is the magic number for the amount of times you should respond to an email lead; and six is the number for call-backs to prospects who leave a voicemail.
All 42 breakout sessions presented in Denver are available for purchase. Learn more about REWIND: 2014 NAA Education Conference Video & Audio Recordings.