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.Read More