But what happens when those numbers aren’t as strong as you’d like them to be? How does leadership react? What steps are taken to improve results? In my experience, it is often tempting to reach for the ‘easy’ button…and believe “everything will improve if we just do more training!”
This request for additional training varies in focus; it might be a request or desire for training to help the leasing associates ‘close better’ or the training might take the form of a leasing ‘boot camp’ - an event meant to rally the leasing teams to improve overall results.
Whatever the focus, the reality is when sales numbers aren’t where they need to be, the discussed solution within many multifamily leadership meetings evolves toward training. These leaders believe that if the leasing associates could only ‘close’ better, then results will improve. Unfortunately, it’s not that easy.
Yes. Training is part of the overall sales/leasing equation. However, improving sales performance requires a lot more than just training the teams.
The journey a prospective resident goes through when they are looking for a new home involves many elements. And, as you can see from the graphic below, the last mile of the journey from lead to signed lease is certainly not a straight line; instead it is often a complex journey with many touchpoints. And while training is part of that journey, it is far from the only lever we can impact.
With this ‘last mile’ in mind, the next time you encounter a decrease in sales and are tempted to offer training, take a moment to pause and consider what might be at the root of the sales performance issue.
1. Marketing
If you’re a regular reader of this blog then you know that we often talk about how the shopping process for apartments has drastically changed. The way a prospective resident looks for a new home is significantly different than it was even five years ago thanks to the Zero Moment of Truth. If you’re not addressing that change, then your leasing associates are at a disadvantage before they even have the first conversation. Areas you need to address:
2. Sales
When someone officially becomes a lead, there’s a lot more that needs to happen before the lease will be signed.
3. Leasing Associates
What is your plan for:
As you can see there are a variety of possibilities to evaluate when you want to improve sales performance and although training is important, it is just one piece of the puzzle.