In The New Year ... Stay Away From FREE RENT --- Whoa!! Wait??!! Here's Why + Top 3 Alternatives!

Today’s digitally savvy customers (users of the rental apps), and even so the not so digitally savvy customers (the ones still driving around or picking up grocery store magazines), have high expectations for customer service—and little patience for businesses that don’t meet them (hence your high turn over rates) . But many industries are not making the grade, especially when it comes to customer service personalization.

Of all industries, multi-family and single-family housing should be at the top as superior deliverers in exceptional customer satisfaction for none other than the fact that we are doing business directly out of customer's homes, but not surprisingly its failing and doing so horribly according to recent surveys.

2016 is bringing about an age of being more customer oriented and whether you make the grade or not, will determine your ultimate success as a business.

So again ...

In The New Year ... Stay Away From FREE RENT --- Whoa!! Wait??!! Here's Why:

Its never the incentive that keeps a prospects, its the person that's offering the incentive! Stop allowing the loss in income to you, disguised as "FREE RENT" to them over compensate for the continued lacks of your team.

So, the question is posed ... why continue to throw away company money disguised as "FREE RENT" when the problem was never the rent in the first place???! Great question, huh? 

More and more company's are reinvesting in their net income right back into their employees and/or customer related services that cater to the needs of one of their most valuable assets - their customer.

Fads are just that ... fads - they eventually go away, new technology with better apps than yesterday will continue to pop up tomorrow and the same of apartment communities - its a new one on every block it seems to accommodate the "so-called"  needs of the majority. Don't get me wrong here, I am not a hater of amenities nor of any of our societies bells and whistles,  the problem is that over time, sight has been lost toward the art of exceptional customer service. Now that the spotlight is being directed back there ... we as an industry must be prepared.

Top 3 Alternatives toward FREE RENT:

1.) Deliver Exceptional Customer Service, wrapped in the art of listening, taped with some good ole need / want assessment and then lastly topped with professional guidance.

Your leasing team lost on this???  Time to get them trained.

2.) Its all in the wording! You can still say FREE RENT without actually meaning FREE RENT.
Confused??! "You can still say FREE RENT without actually meaning FREE RENT" ebook coming soon.

3.) Replace Price,  with Value.

Replacing price with value will be no easy feat, especially if you're not accustomed to doing so, try a "100 Reasons To Live At Springdale Apartments" for starters.
Still confused??! "Replacing Price with Value, the Multi-Family Housing Leasing Essentials Guide" ebook coming soon.

The Theme of Thanksgiving and Multifamily Leasing Simply Go Hand-In-Hand - Top 4 Holiday ROCK STAR Tips You MUST Do's!

The Theme of Thanksgiving and Multifamily Leasing Simply Go Hand-In-Hand.

 

 

What better way than in the theme of Thanksgiving to show your appreciation to those that matter most to your business ... your prospects, your residents and, last but certainly not least, your team --- My thoughts exactly! Now lets get to it.

I learned a long time ago that it takes only a couple of components wrapped up nicely and solidified in appreciation that sets you well above the rest. The other fluff is just that ... fluff that may or may not hit or miss. Decorations are nice, but your ultimate goal should always remain as successfully making sure your internal and external clients feel appreciated.

Leasing Tip #1 Show your appreciation now - Start internally and work your way out.

As a ROCK STAR Leasing Professional, I walked into my leasing office every morning with a joy in my stride and a smile on by face. I immediately would set to begin my daily routine that ensured I would rock my day. The office opened at 9am, I normally arrived around 8:15am to prepare for lift off. Around 8:45am, Ms. Jane, a couple doors down from the office, would knock on the window with my Starbucks Caramel Frappuccino. She'd chat for a minute about her anticipated day and I of mine. The conversation would only last about 5 minutes, then we'd hug and part ways. One morning she didn't come at her normal 8:45am, so I became a little worried. I tried calling her, but to no avail. Two more days rolled around of the same fate. On the fourth day, which fell on a Saturday morning, I rallied up some neighboring troops and we managed to successfully track her down at the nearby hospital where she worked only to find that she had been admitted three days earlier due to a heart attack. After speaking with the staff, we discovered that her condition was stable and she would be released that day at 1:00pm after all of her test results came back. We all left and returned at precisely 1:00pm. At around 1:05pm, Ms. Jane walked from her hospital room into a hall full of neighboring troops, led by none-other-than me, Sergeant ROCK STAR. She immediately smiled and we met each other in a tearful embrace. We hugged briefly solo, only to be tackled by the troops only seconds later. After recovering from such an emotional reunion, we stepped back to open dialog. Ms. Jane spoke first. "I would've never thought that in a million years Starbuck's Caramel Frappuccino would make you go looking for someone." I laughed out loud only to return, "And it wouldn't. I honestly don't like them, but I do appreciate you. You, and you alone, make people want to put out a search party when you go missing. You are an amazing person Ms. Jane and the good that you do around the community has never gone unnoticed." Once again we returned to tears. The tears turned to smiles and then laughter as we exited the hospital with our Ms. Jane.

Moral of the story being: Show your appreciation now - Start internally and work your way out.

Value comes in different forms and to show someone that they're appreciated for the simple things (Such as: Making time to stop in today, taking the time to complete a maintenance performance survey, ensuring that their rent is paid on time, managing to make it work on time in New York City or even Atlanta traffic, etc.) is the most valuable asset you could possess.

Leasing Tip # 2 Door Busters ... Black Friday Leasing

Macy's isn't the only place with awesome Black Friday Deals! Have you every tried "Black Friday Leasing" or Even, "Black Saturday Leasing" ????!!! And if not, what are you waiting for? Here's an example of how this could work:  6am - 7am Slashing Application Fees In Half.  7am - 8am Slashing Deposits In Half 8am - 9am Slashing Back Rental Rates With various communities,  we have successfully conducted "Black Friday Leasing" or Even, "Black Saturday Leasing". We serve hot coco, coffee and donuts. The turn out is always amazing and the results are beyond exceptional.

Leasing Tip #3 Door Prizes ... Aren't They Always Exciting

In the theme of "Black Friday Leasing" or Even, "Black Saturday Leasing" ... wouldn't random door prizes just take this event to ROCK STAR status??!! My thoughts exactly! 

Leasing Tip #4 Turkey Isn't The Best Entrée For Everyone ...  

Turkey, nor ham will work for some this Thanksgiving ... we do have vegetarians amongst us.  "Thank you" can be said in many different ways and in the same appreciation can be shown ... to better understand what best avenue toward showing appreciation fits your clientele, you have to first understand the needs of your clients - start listening now to better perform. Happy Thanksgiving Everyone ... And always remember to serve salads! :-)    

 

 

 

 

 

 

If You're Not A ROCK STAR Yet ... What Are You Waiting For??!! - Top 3 MUST DOs Right Now!

 

What is the most important aspect in the apartment leasing process?



Guess.



Take your time ... I'll wait. :-)



Answer: It is the understanding of how awesome of a position you're really in ever before a prospect walks through your door, chimes your email or rings your phone ... There has be to some sort of "awesome sauce" flowing within you that makes you feel extra bubbly surrounding your ability to make people feel at home.



So with that being said, lets dive right in.



Must Do #1: Identify Your Own Personal "Whys" - Find Your Motivation
Regardless of the reasoning behind your "whats" that has put you into this particular driver's seat, you if no one else does, have to understand why you're where you are in these very moments. Whether it be for the bi-weekly income, the opportunities of the industry, you love to help people, you love the discounted rent aspect, etc. you have to know your own personal "why". Once your "why" has been identified, then and only then will you be able to own it and build yourself to Rock Star status because of it.



So for sakes sake, let's just say that you've identified your personal "why" as solely for financial gain. There is nothing wrong with this by any means. Your next question should be, "how do I build myself to Rock Star status with this newfound understanding?" Easy: your motivation is for financial gain ... the more satisfied residents you attain = more financial attainment. Got it?! You simply have to identify your own personal "why" to better understand the road you'll need to take toward becoming that Rock Star Leasing Professional its going to take to achieve your goal of financial attainment.



Now lets take on the "you love the discounted rent aspect" for size. I know what you're thinking, I should've chosen "you love to help people" BUT the problem with that one is that its a no brainer - if you "love helping people" then being a ROCK STAR Leasing Professional should come natural to you.



Alright, back to the concept at hand ... So you love the discounted rent aspect huh??? I did too ... it was pretty darn awesome! Your next question should be, "how do I build myself to Rock Star status with this newfound understanding?" Another easy one: You've identified your motivation as being a discounted apartment ... the more satisfied residents you attain = the continued attainment of discounted rent.



Must Do #2: Find Your "Happy" Place

Genuine actions come from within ... the more lacked genuine action, the more lacked genuine return.

The honest to goodness truth of the matter for me is that my "happy place" is the excitement I get toward the pure service of  helping people lost, find direction.



What's yours ROCK STAR?



Must Do #3: Knowledge Is Key

What foolish Eskimo in Alaska has ever bought ice from the store without being given a pretty darn good reason, especially when there's ice clearly all around him - and its free?

Put yourself in that Eskimo's snow boots ... In order to sell, you have to first know:

• Know and understand whom you're selling to
• Know and understand their individual needs outside of their wants, but
• Know and understand your community through and through
• Know and understand your competition

Once you have knowledge of the listed with a complete understanding of your Must Do's 1; 2, then and only then will that Eskimo in Alaska buy your ice.

Smile Before You Dial - TOP 5 Tips For Making Successful FollowUp Calls - A MUST READ!

We all know why you're here - either A., B. or C. applies to you. So, first before we begin with the TOP 5 Tips, allow me to better help you understand exactly where you fall, so that you can better understand how to help yourself up.

1)What are your thoughts prior to follow-up dialing:

A. Might as well get prepared for them to hang up in my face or better yet, let me prepare the perfect voicemail message.
B. I might as well go ahead and get it over with - the worst that could happen is they say "No."
C. Smile. Smile. Smile. Yes. Yes. Yes.

2)What is the purpose of your follow-up dialing:

A. My manager is making me.
B. To check on their decision making status. They said they would be making a decision today, so I am calling to see if that decision was to live with us.
C. To continue building on the relationship I begin in our office.

3)Is follow-up dialing completed on your behalf because its made mandatory by your company:

A. Yes. Of course. Why else?
B. Yes - I simply don't understand its purpose outside of scheduling a return appointment as to when they wanted to bring their application back.
C. No. I understand the necessity of the follow-up call. I love building relationships.

4)In your opinion, what is the best form of follow-up:

A. "Hi Stacy. This is Matt with Blah Blah Blah Apartments. I wanted to check with you to see if you had made a decision on your next apartment home."
B. "Hi Stacy. This is Matt with Blah Blah Blah Apartments. How are you? Great. I as calling to see if you've made a decision on your next apartment home."
C. "Hi Stacy. This is Matt with Blah Blah Blah Apartments. How are you? Great. I have some awesome news for you. When you come to bring back your application today, we are celebrating National Dessert Day. We have tons of desserts. You were coming back today right?

5)Follow-up makes the prospect feel:

A. Bothered
B. Like you care
C. Understood

6)Of the 10 follow-up calls that you completed yesterday, how many of them came back today:

A. 0
B. 1-3
C. 4-10

7)If the prospect decides not to live with us, I:

A. Place their guest card in the "dead" pile.
B. Feel sad that they didn't choose to live with us.
C. Place their email in our email list so that they can receive our monthly e-newsletter. There's always next year - their lease has to expire sometime.

8)Do you currently have a constant contact program in place for you current residents, prospects, etc.:

A. No. Why? They already live here.
B. No. I don't understand why we should, but I would like to understand why we should.
C. Of course. That's why my resident renewal rates skyrocket!


***If you're mostly C's then congratulations ROCK STAR, you understand the purpose of follow-up.

**If you're mostly B's, then congratulations, ROCK STAR - In - Training, you are beginning to understand the purpose of follow-up and this article will do wonders for you.

*If you're mostly A's, then congratulations on discovering that becoming a ROCK STAR Leasing Professional - Is -NOT - For - You ... and if by chance you want it to be, but you simply lack enthusiasm or enough knowledge of the industry to make it work for you, then ... grab a pencil and paper and lets take notes! Better yet, take the day off and visit our blog. We also offer training courses - have your management company contact us for details.

Now that you better understand where you fall, lets begin!

Follow-Up Dialing is essential when it comes to leasing because it allows for you the opportunity to continue to build on the relationship you began in your office or on the initial phone contact or via that initial email contact.

#1 Smile Before You Dial
Whatever emotion you're feeling currently is all over your face and whatever emotion currently is all over your face is heard in your voice. When conducting a follow-up call, the only emotion you should want to be portrayed is enthusiasm and happiness surrounding you and whom you represent.


#2 Dial With A Purpose
I say this time and time again ... dial with a purpose or stop dialing. If the only purpose of you dialing is to check on the status of their decision making, then STOP NOW... Put down the phone and back away from the desk. If you have nothing more than a call to action and a great intro, that's waaaay better than you checking on the status of a decision they made probably before they ever left your community. See a great example of a call to action and intro above in question number 4. - answer C.

#3 Never Begin With "I Was Just Calling To See If You've Made A Decision On Your New Apartment Home"
Spruce it up a bit! Always remember in the game is leasing, you have to give something to get something. Whether that giving is a guarantee of an awesome customer service experience in combination with that extra 50sqft of living space that you offer over your competition, make sure that the benefits with you far exceed those of everyone else - the follow up call is a great tool to remind them of such.

#4 Always Offer Something
It doesn't have to be "FREE Rent" I'm talking here - try something a bit more subtle that is guaranteed not to cost you a thing, but will gain you tons ... Your advice! Your assistance! Your exceptional customer service! Your personal invite of their return!

#5 Give Them A Reason To Chose You ... And Then Keep Choosing You
Great! That exceptional customer service that you exuded through your community show and follow up call has sealed the deal and they've moved it. What now? The dialing continues, for different reasons of course, but none-the-less, the dialing continues.

The Ultimate WIN In Multi-Family Housing?! A ROCK STAR Leasing Team! Here's How: ONLY 2 Main Priorities!

Everywhere I go to train,
its always one question that remains the same,
what's the most important aspect in playing the game,
where, how and what needs to be done in order to win, win, win again, again, again and again ...
- N. Bean

It's not the leasing professional in entirety that remains responsible for the outcome of the team's closing success, but it remains the responsibility of the team as a whole. Just look at it this way when it comes to the art of leasing: Your ROCK STAR Leasing Professional is Beyoncé in Dream Girls and your property managers, leasing managers, maintenance professionals, marketing material, product, etc. are all her background singers, dancers, musicians, etc. Simple, right? The facts still remain: everybody gets paid, everybody gets recognition, and everybody gets to shine - it's just the leasing professional that will always take center stage ... but just like in Dream Girls, the stage must first be prepped and set for your ROCK STAR to perform.

 So now that we understand that we are the "Dream Girls aka Dream TEAM", lets begin building off of that notion.

Priority #1: Product

 If your ROCK STAR Leasing Professional is Beyoncé, then your product is the stage.

Your product consists of your property's curb appeal, the appearance of your property's leasing office, your team's overall "welcome" upon entrance, the cleanliness of your amenities, the leasing "sale" path,  the overall appearance of the model and/or show apartment and the maintenance of the model and/or show apartment.

Just because your grounds are superb and your Rock Star Leasing Professional's constant contact program is working magic doesn't mean that the model and/or show apartment and its surroundings can look and smell like garage. For example: No hidden trash is ever allowed on the leasing "sale" path - even if it is hidden behind the brush! Got it?!? Every concept of the leasing process must fit together perfectly as if a Mozart symphony.

The ticket sales will sure to sky rocket if time and time again without fail, an extraordinary show is delivered beyond customer expectation.

Priority #2: Support Staff

If your ROCK STAR Leasing Professional is Beyoncé and your product is the stage, then your back up singers are your property's managers.

Your property's managers range anywhere from your leasing managers, to the grounds managers to the maintenance manager and then back on around to your property and regional managers. It is the sole responsibility of the support staff to ensure that product is "market-ready".

Regional/Property Managers have to ensure that the finances are in order to ensure the day to day costs of leasing.

Assistant Property Managers have to ensure that the make - ready board's scheduling is strictly adhered to.

Leasing Managers have to ensure that the unit availability list is accurate, leasing consultants are well informed/equipped and to oversee the "make-ready" process.

Maintenance Supervisors have to ensure that the maintenance and make-ready has been complete to standards of excellence, not only on the model apartment, but on the in-process" turn "units as well.

Grounds Managers have to ensure that the grounds are immaculate at all times.

lease note, your job descriptions may or may not range accordingly, but the need to the responsibility remains the same.

 Together with these two main priorities being met, your dream team will consistently win time and time again ... given everyone is meeting their designated priorities.