The Demand Solutions Blog

What to do About Challenging Multifamily Recruitment and Retention

Posted by Donald Davidoff on May 13, 2019 9:45:00 AM

Given sustained, record low unemployment in the general economy, it’s not surprising that attracting and retaining quality associates is universally regarded as one of, if not the, most challenging parts of a senior executive’s job these days. Simply put, it’s an employee’s market!

That was one of the least surprising insights from our 20 for '20 research - where we asked 20 senior multifamily executives for their perspectives on the industry outlook for the next few years.  Given the generally challenging conditions for talent acquisition and retention, we were keen to learn more about what strategies and tactics worked best for our 20 executives in this tight labor market.

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Topics: leasing associates, Multifamily Trends

Ten Questions You Should be Asking Yourself about Leasing

Posted by Dom Beveridge on Feb 6, 2019 12:16:48 PM

Recently it's been my privilege to interview 20 senior multifamily executives to get their viewpoints and understand their priorities for the next few years. (The interviews were part of our research for a new white paper that we'll be publishing soon - you can pre-register for your copy here.) Through the interviews, one thing was crystal clear: most companies see sales as a top training priority for 2019.

Readers of this blog will not be surprised by this finding - we have long been calling for a revolution in multifamily sales. Multifamily leaders seem to agree, and there are good reasons for that: after a decade of growth in multifamily, the sales muscles have perhaps not received the most rigorous of workouts lately. It makes sense to strengthen them before markets start to soften - whenever that is.

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Topics: leasing associates, Leasing Performance, Sales Coaching

My New Year’s Resolution: Get Systematic About Team Development

Posted by Donald Davidoff on Jan 4, 2019 10:08:30 AM

For my New Year’s resolution, I want to focus on how to better develop associates and create environments in which they will be successful. In short, for my own company, “make it less about me,” which I can’t help but notice is also critical for our clients. The more success is based on a single leader’s energy and knowledge, the less stable that success will be—whether just for one department or for an entire company. 

So how can we make success something permanent and less dependent on us individually? It’s definitely not easy, but I think it’s clear. It rests on 3 inter-related tasks: 

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Topics: business intelligence, leasing associates, New Year's Resolutions

What Would You Do? Tips to Reduce Staff Turnover

Posted by Donald Davidoff on Nov 27, 2018 10:40:00 AM

In our new series, we’ll be tackling common and frequently asked questions from operators and operator executives in the multi-family housing industry.  

Ask a multifamily operations-focused executive what their biggest concerns are, and it likely won’t take long for the topic of staffing—and by extension, turnover—to  come up. High turnover rates have a number of negative implications for operators, including hiring costs, lost productivity, lower sales results and more. 

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Topics: multi-family housing, leasing associates, Multifamily Trends

5 Things Leasing Associates Can Do to Be Top Performers

Posted by Donald Davidoff on Aug 1, 2017 10:00:00 AM

Over the last few months I’ve had a number of conversations with multifamily executives about important areas of focus for their operations. It doesn’t take long for the subject of sales to come up in conversation.

As we’ve shared over the last few years on this blog, sales in multifamily represents a unique challenge. Traditional approaches to improving sales are neither appropriate or effective. While it’s an important focus, I’ve seen first hand how operators, managers and leasing associates struggle to uncover and understand what it means to improve sales performance in this industry.

Several years ago we shared the seminal research study on sales performance done by CEB, that became the bestselling book The Challenger Sale. We’ve highlighted the study as the model to apply to leasing when designing and implementing a leasing sales performance improvement program.

In the challenger model, CEB highlights three things that top performers do continuously, that average and bottom performers either only do occasionally or don’t do at all. The study showed that top performers teach, tailor their presentation and take control of the process. When I explain this to executives, a common question I get is how this applies to leasing associates.

Top leasing associates, or “challenger” associates, regularly do these five things:

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Topics: leasing associates, Leasing Performance

Customer Service vs. Customer Experience: Why Multifamily Operators Should Care

Posted by Donald Davidoff on Aug 3, 2016 12:00:00 PM

A popular buzzword in the multifamily industry today is customer experience. It’s actually something many industries are talking about. Identifying and improving your customer experience is a proven way to increase loyalty, referrals and renewals and is the way to success.

But what does customer experience really mean, and how is it different than customer service – something we’ve focused on for many years? To answer that question, I sat down with my friend and colleague, Joanne Reps-Chapman from Effective Leadership Solutions, LLC, to discuss how the two are different, how they relate, and why it is important for multifamily operators to understand the difference.

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Topics: multifamily sales, leasing associates

Exercises to Reinforce Successful Sales Habits for Leasing Associates

Posted by Donald Davidoff on Apr 28, 2016 12:00:00 PM

When we’re implementing our InSite Sales Performance Program, the training portion is (obviously) a crucial piece of the process. When conducting the training, we often draw analogies to sports and athletic endeavors.  

The reason for this is that successful sales performance has a lot in common with athletic endeavors. Both require an understanding of the game being played, the process for success and the skills to make it happen. Another important similarity is the need to practice. Constant, ongoing reinforcement of skills and process is crucial to successful outcomes, in both pursuits.

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Topics: multifamily sales, leasing associates