The Demand Solutions Blog

7 Tips to Help Leasing Associates Make Sales Faster (And Delight Residents)

Posted by Donald Davidoff on May 9, 2018 2:00:00 PM

Over the last 20 years, the multifamily industry has gotten better at managing the core elements of their business. Companies are smarter regarding where they're building or buying their properties, and how they're operating them. The use of pricing and revenue management systems has become the norm, not the exception. Utilizing sophisticated property management systems, online marketing tools and so forth--again, the norm. That means we're operating more efficiently than we ever have before.

With all of these improvements, there is still one area that has been (and often still is) overlooked: sales. As the demands of customers continue to evolve and liquid expectations impact their expectations, experience and buying journey, smart operators know this needs to change. At these companies, sales acumen has begun to “earn its seat at the table” as a key driver to operational performance.

It's important to note that selling today isn't like what selling used to be. Daniel Pink, noted author of the book To Sell is Human shared, "Most of what we know about sales comes from a world of information asymmetry. Sellers had far, far more information than buyers did." That was certainly true in multifamily. Sellers could manipulate buyers and force them to play the game that salespeople wanted to play. That is no longer true.   

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Topics: Sales Coaching, Leasing Performance, pricing and revenue management, Revenue Management

The 3 Points that Make a Leasing Sales Process Great

Posted by Donald Davidoff on Mar 2, 2018 3:30:00 PM

Selling is a lot like hitting a baseball. If you watch any Major League team play, you’ll quickly see two things: first, you’ll see some highly talented athletes on the field, and second you’ll see a wide variety of approaches, batting stances and swings from batters.

While a batting stance is as unique as the player employing it, if you study hitting, you’ll discover that despite the variety, effective batting swings have quite a lot in common. In hitting, there are three key points with the swing (where the hands are at the “load” position, where they are when the hands enter the “swing zone” and where they are at the point of contact) common across all good swings that enable a hitter to maximize the probability of making strong contact with the baseball and getting a hit.

Leasing is similar in this way. Leasing associates all have different styles and personalities. Additionally, the communities and buildings they’re leasing are quite different, and prospective residents bring their own unique personalities. The result is that every leasing opportunity is a unique experience.

Yet, in our study of top leasing associates and great leasing sales processes, we’ve identified that, like hitting a baseball, the great ones have three key elements that separate them from all others and maximize the likelihood of a positive outcome.

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Topics: Sales Coaching, Leasing Performance

How to Know it's Time to Improve Your Leasing and Sales Process

Posted by Donald Davidoff on Feb 20, 2018 2:00:00 PM

Over the years we’ve reviewed quite a few multifamily sales processes and training programs. The number one thing they’ve all had in common is (to put it nicely) they’re old. They’re built for a time that no longer exists. The impact of this is twofold:

  • It puts a drag on leasing performance and pricing while increasing lead generation costs.
  • It creates a negative customer experience, harming word-of-mouth and Net Promoter Score (NPS).

With leasing season just around the corner, now is a great time to give your leasing/sales process a check up. If you’re wondering whether yours needs improvement, here are five signs that the time to improve your leasing and sales process has come:

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Topics: Sales Coaching, Leasing Performance

5 Steps for a Coaching Culture & Why it’s a Must for Sales Teams

Posted by Donald Davidoff on May 11, 2017 2:00:00 PM

The following is taken from our viewpoint document, The Keys to Effective Multifamily Sales Performance. You may download it here.

Too many multifamily operators have a culture of supervision and compliance rather than one of coaching. There is certainly a time and a place for compliance; however developing adults’ skills requires a supportive environment, where leasing associates are allowed to experience failure and be coached towards success. Here are five easy tips to start creating a coaching culture:

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Topics: Sales Coaching, multifamily sales