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: