national apartment association education institute leasing demonstration and follow-up 1
TRANSCRIPT
National Apartment Association Education Institute
Leasing Demonstration and Follow-Up
1
Objectives• Demonstrate thorough knowledge of your
apartment homes, your apartment community, and the neighborhood.
• Explain the importance of the three elements in preparing for a successful leasing demonstration.
• Know the important skills to effectively demonstrate your community.
• Explain the key elements in conducting a leasing tour.
2
Program Objectives• Implement the feature-benefit-emotional
appeal approach to selling.
• Describe some safety precautions that should be practiced during a leasing demonstration.
• Recognize and understand Fair Housing implications with regard to demonstrating and closing.
3
Objectives
• Describe various “closing” opportunities.
• Explain the major objectives in a successful leasing presentation.
• Implement procedures for resolving objections.
4
Program Objectives• Identify signals that help close a
prospective resident.
• Invite the prospective resident to lease an apartment.
• Develop a follow-up program to ensure more return traffic and leases.
5
Product Knowledge
• Surveys show that the knowledge of the product by the leasing professional is an important determining factor in choosing an apartment home.
• How much does a successful leasing professional need to know about the product?
6
The Leasing Demonstration• The successful Leasing Professional will
describe the benefits of the community as the solution to the prospect’s needs.
7
3 Major Areas of Product Knowledge
1. Apartment homes
2. Apartment community
3. Neighborhood
8
Apartment Homes
9
11 X 14• Square footage and room measurements
• Storage space
• Appliances
• Furniture placement
• Construction features
Amenity Features
10
Apartment Community
Service Team
2. Club Room Facilities
3. Recreational Amenities
11
Apartment Community
12
• Functional Amenities
• Parking Facilities
• Management of the Community
Neighborhood - The Community Profile
• Number of buildings
• Total apartment homes
• Floors per building
• Apartment homes
-per floor
-by type
-by style
• Special characteristics
13
Neighborhood - The Community Profile
• Total parking spaces
• Covered parking spaces
• Total garage spaces• Amenities• Satellite dish information• Acreage• Site map• Location of mailbox kiosks• Utility information
14
Neighborhood - The Community Profile
15
16
Why Prospects Visit Apartment Communities
17
Location and General Area
40%
“A picture is worth a
1,000 words”
A Picture is Worth a Thousand Words
18
The Resident Profile
1. Median or average income2. Median or average age3. Average number of residents per
apartment home4. Resident type5. Major employers
19
The Resident Profile
6. Employment area
7. Point of Origin
8. Reasons for moving
9. Job classification
Why are you moving? 1. Job Transfer2. Home Purchase3. Graduating4. Financial Difficulties
20
Key Elements in Preparing for a Successful Demonstration
1. Creating and using a Leasing Notebook that includes extensive product information.
2. Knowing current information about your competitors.
3. Planning for the Leasing Demonstration.
21
Two Places to use the Leasing Notebook?
1. In the Information Center
2. On the Leasing Tour
22
Planning the Successful Leasing Demonstration
23
Planning an Effective Leasing Tour
24
Plan!
• Be Prepared!
• It’s the best advice you will ever get!
25
Demonstrating Do’s and Don'ts
1. While outside, discuss activities and service team.
2. A leisurely pace should be taken.
3. Discuss features of the apartment once you arrive.
4. Leave the front door open.
5. Create a sense of arrival.
26
Important Skills in Demonstrating
• Actively involve prospective residents in the apartment
– Tell me, and I may forget.
– Show me, and I might remember.
– Involve me and I’ll understand
27
Important Skills in Demonstrating
20
80
0
10
20
30
40
50
60
70
80
90
Seen Seen, Smelled, & Touched
Important Skills in Demonstrating
2. Implementing “feature-benefit-solution” selling. The Leasing Professional moves from
“telling”“telling” “selling”“selling”
3. Demonstrate throughout the entire leasing tour.
29
Important Skills in Demonstrating
4. Avoid ending your demonstration in a small room like a bathroom.
5. Refer to features as “yours” during the tour.
6. Use closing statements throughout the presentation.
7. Show floor plans when you return to the Information Center.
30
Keeping the Prospective Resident Involved
31
Transitional Questions
Location Transitional Question
Into the living room
Where will you put your television? Do you like to entertain?
Into the bedroom What size bed do you have?
Into second bedroom
How will you use and furnish this room?
Onto deck/patio Do you have any outdoor furniture?
Into the dining room
How will you use this room?
1. Selling vs. Telling
• The Leasing Professional enters the apartment home, stands in the doorway and talks as the prospective resident walks through the apartment alone. – The Leasing Professional walks through
the apartment along with the prospective resident, directing the prospective resident to open the refrigerator door, walk out onto the balcony, and step inside the enormous walk-in closet the Leasing Professional continues to ask transitional questions.
33
2. Selling vs. Telling
• The Leasing Professional shows the model apartment home and states, “This is the kitchen and there is the dining room”.
– The Leasing Professional uses transitional questions through the tour, pointing out the benefits of the large living room, the efficient and easy-clean kitchen, the roomy bedroom including the room’s dimensions – matching these to the prospect’s needs.
34
3. Selling vs. Telling• The Leasing Professional stands in the living
room and tells the prospective resident 30 features of the apartment home. – The Leasing Professional asks what is important to
the prospective resident and then offers solutions to meet the prospective resident's needs and wants. The Leasing Professional asks for feedback from the prospective resident throughout the tour of the apartment home. “Earlier you mentioned that you are often pressed for time. Having a washer and dryer in your new apartment home would save time, right?”
35
4. Selling vs. Telling
• The Leasing Professional reads the brochure to the prospective resident as they tour the apartment home.
– The Leasing Professional refers to the Leasing Notebook to occasionally point out those features that are most important to the prospective resident.
36
Important Skills in Demonstrating
• Ask Questions
• Build on the Information
• Give your Prospective Resident “Minor Orders”
37
Important Skills in Demonstrating
• Do not talk about your personal life
• Keep the conversation flowing yet leave some quiet time
• Put the prospective resident into various settings in your apartment community
• Emphasize unique features of your apartment home
38
BenefitBenefit
Em
otio
nal
Appeal
Em
otio
nal
Appeal
FeatureFeature
39
Feature• A feature is any item about the
apartment, community, amenities, neighborhood or area that stands alone regardless of a customer’s need, want or desire. features:
• sliding glass doors
• vaulted ceilings
• bay windows
• frost-free refrigerators40
Benefit
• Is how a feature satisfies a customer’s need, want and or desire.
A vaulted ceiling gives the room an open
feeling and elegant ambiance.
Bay windows provide space for plants.
41
Emotional Appeal
• Applying the knowledge of features and benefits to create a personal meaning for the prospective resident is called emotional appeal selling.
Emphasize benefits likely to appeal to the prospective resident’s emotions and logic
42
Feature-Benefit-Emotional AppealFeature Benefit Emotional Appeal
Window Sunlight for plants Homey feeling
Ice Maker Convenience Ease when entertaining
Fireplace
Sliding door to balcony
Microwave
Indirect lighting
Ceiling Fans
Nook
Bookcases
Vaulted ceilings
Breakfast Bar
Extra Electrical Outlets
Disposal
Stainless steel sink
Pantry
Trash compactor
Balconies/Patios
44
Safety Tips
Safety Tips1. Government issued photo ID required and sign posted.2. ID left in the office while touring3. Notify another staff member where you are going to tour.4. If uncomfortable in touring alone, take another staff member
as a “trainee” or ask a service team member to meet you there.
5. Take a walkie-talkie with you.6. Do not enter an apartment in front of a prospect.7. Install a kickstand on the model door.8. Clear path to the exit.9. All lights are on.10. If no one is available to support you, schedule a return
appointment for the prospect.11. Additional safety precautions?
45
Fair Housing Implications
• Be consistent
• Treat everyone the same
• Do not deny housing when it is available
• Use a defined tour route for everyone
• Do not steer
• Do not overemphasize drawbacks
• Make reasonable modifications and reasonable accommodations
46
When does Closing Begin?Closing is actually inviting the prospective
resident to lease an apartment.
If a leasing professional has:• thoroughly identified the prospective resident’s needs
• built a great rapport
• given a great leasing presentation
closing will be natural!47
Closing Occurs When the Leasing Professional:
• Finds out about the prospective resident’s needs and wants and then begins to provide solutions to these needs and wants.
• Greets the prospective resident and helps them define their wants and suggests a tour of the apartment community, model apartments, and vacant apartments.
48
Closing Occurs When the Leasing Professional:
• Demonstrates the apartment community and home, and uses the feature-benefit-emotional appeal strategy that “links” the prospective resident to the community.
• Returns with the prospective resident to the Leasing Information Center and summarizes the solutions to the prospective resident’s needs and wants.
• Assists the prospective resident with the completion of necessary paperwork.
When Does Closing Begin?
Always
Be
Closing
The Sales Model
1. The telephone contact• Appointment
• Urgency
• Securing commitment to visit
2. The Greeting
• Enthusiastic welcome
• Invite
• Professional introduction
51
The Sales Model3. The leasing interview
• Qualifying• Listening• Understanding body language• Discovering needs and wants• Describing features and benefits
4. The leasing demonstration• Personalizing key features/benefits • Trial closes• Resolving objections
5. The Close
52
Pyramid of Relationship Selling
Needs AssessmentNeeds Assessment
Showcasing the Showcasing the CommunityCommunity
ClosingClosing
Follow-Follow-UpUp
Telephone ContactTelephone Contact
Rapport BuildingRapport Building
Pyramid of Relationship Selling
• Closing is the FIFTH STEP in a process that starts with a telephone contact.
• Each step is related to all of the other steps.
54
Closing Process:• Identify the prospective resident’s needs and wants
and then have a plan to address these needs and wants.
• Greet the prospective resident, help them define their wants/needs and suggest a demonstration of the apartment community.
• Demonstrate the apartment community and home, and use the benefit-feature‑emotional appeal strategy to “link” the prospective resident to the community.
55
Closing Process:• Upon returning with the prospective
resident to the Information Center, summarize why the community is the right one for the prospective resident while focusing in on the benefits and the prospective resident’s needs and wants.
• Assist the prospective resident with the completion of necessary paperwork.
56
Effective Leasing Presentations
P I E
P I E
ersuade
nform
nthuse57
What is an Objection?
• An objection is a reason or opinion that can be either stated or just thought that focuses on the negatives of a feature and or benefit.
• Sometimes an objection can be hidden or unknown.
• The Leasing Professional must be use effective questioning techniques to uncover it.
58
Resolving ObjectionsA prospective resident’s objection is a stated or
implied reason or hesitation that influences the prospective resident’s decision to reject the apartment home and/or community.
An objection is a ‘buying signal’
in which the prospective resident is seeking logical
reasons to buy.
An objection is a ‘buying signal’
in which the prospective resident is seeking logical
reasons to buy.
59
Five General Types of ObjectionsRIVATERIVATE
RICERICE
LACELACE
ROCRASTINATIONROCRASTINATION
REJUDICEREJUDICE
60
The Private Objection
• May I ask why are you hesitating?
• Have you seen anything you like better?
• Was there something about the apartment you do not like?
• What more can I do to help with your decision?
• Are there any concerns or issues that I’ve failed to address?
61
The Price Objection
62
The Place Objection
63
The Prejudice Objection Con Pro
No Washer / Dryer More space in the apartment and reduced utility costs
No fireplace More wall space for flexible furniture placement
Small Pool Your rent dollars are not being wasted to maintain a large amenity that is used infrequently
Limited Parking spaces/no street parking/no garage
Reduced vehicle noise. Reduced gas fumes, emissions. Non-residents are not using our lots
The Procrastination Objection
– Priority Hold
– Sense of Urgency
– 24-Hour Hold
“I’m not ready
to make a decision
at this time!”
65
Resolving Objections• Admit it
• Explain it–Feel–Felt–Found
• Resolve it66
ObjectionsObjections
67
Leasing Signals
• Direct closing opportunities generally occur after the Leasing Professional has presented the product, explained the benefits and based on:– The prospect’s needs – Addressed objections– Gained the prospect’s trust
68
Improve your Closing Skills by:
• Listening to what the prospective resident says
• Observing their body language and other nonverbal behaviors
• Showing sincere concern regarding their new home
• Understanding what they think as well as what they feel
Leasing Signals
1. Recognize Buying Signals
2. Reinforce Buying Signals
3. Evaluate Interest and Sense of Urgency
4. Offer Reassurance
5. Invite the Prospective Residents to Lease
70
Recognize Buying Signals
Buying signals are verbal and non-verbal.
71
Buying Signals ActivityRelaxing the body and maintaining good eye contact
Nodding positively to the Leasing Professional’s questions – saying yes 5 or more times
Beginning to calculate with a pencil or calculator
Writing notes
Studying the brochure carefully
Smiling and showing enthusiastic
Talking about the placement of furniture
Discuss rental payments, prorated rent, move-in dates, availability
Asking a spouse or friend for an opinion
Reinforce Buying Signals• A trial close is a statement made by the
Leasing Professional which asks the prospective resident to:
– Decide on a minor point
– To think about their feelings
– Reactions to a specific feature or benefit of the apartment home, community, or area
73
Trial close
74
“How does this fit with your housing needs so far?”
“Will you need access to our fitness center in the evenings?”
“How do you think your roommate would like this view?”
Evaluate Interest
• “Is this what you had in mind?”
• “Would this apartment home work for you?”
• “What do you think?”
75
Offer Reassurance1. Give the prospective resident your undivided attention
throughout the tour.
2. Display and discuss the application early in your conversation.
3. Remind the prospective resident that you are here to help them find an apartment home they will enjoy.
4. Summarize some key benefits that interest the prospective resident.
76
Offer Reassurance
5. Give the prospective resident a reason to take action and lease.
6. Empathize with the prospective resident.
7. Remind the prospective resident of the many satisfied residents who already live at your community.
8. Discuss the professionalism of your management and service teams.
9. Use a Feel/ Felt/ Found statement.
77
Securing the Lease?
• Give the prospective resident some valid and honest reasons to take action.
78
Close by Invitation
• Closing, or getting a commitment
actually begins the moment a prospective resident arrives at the Leasing Center.
79
Closing is not:• Giving the prospective resident an application,
then instructing them to fill it out and return it with their deposit check.
• Waiting for the prospective resident to say, “I will take it!”
• At the end of a tour simply handing a business card to a prospective resident and telling them to call when they decide on an apartment.
• Asking, “What do you think?” as the end of your presentation.
80
Ask for a Commitment
•If you don’t ASK, you won’t GET.
•ASK and you shall RECEIVE.
81
NO!
Do not assume
that the first
“no” really
means “no.”
Do not assume
that the first
“no” really
means “no.”
82
Closing Techniques
• The Summary Close
• The Personal Invitation Close
• The Assumption Close
• Which Close
• The “Only One” Close
• The Price Increase Close
83
Closing Techniques Reference
• The Acceptance Close
• The Yes Close
• The Commitment Close
• The 24-Hour Hold Close
• The “If I Could...Would You” Close
• The Priority Waiting List Close
• The “What Did I Miss?” Close
84
Name that CloseName that Close
85
Supporting the Prospect After the Close
“Please feel free to
contact me with any questions that may arise.”
“Please feel free to
contact me with any questions that may arise.”
“I am so gladYou have decided to experience the great lifestyle that
our community offers.”
“I am so gladYou have decided to experience the great lifestyle that
our community offers.”
86
Follow-Up Agenda
1. Ask permission to follow up before the prospective resident leaves.
2. Follow up with everyone who indicates they would welcome follow-up.
3. Follow up immediately by leaving a message on their voice mail, answering machine, or email.
4. Write and mail a thank you note within 24 hours of their first visit.
87
Follow-Up Agenda
5. Stay in touch.
6. Send them a thank you note when they do lease from you.
7. Make time for follow-up.
8. Log your follow-up actions by noting the time and dates of calls, and the follow-up correspondence that was sent.
9. Log the follow-up efforts into some type of data base management software.
88
Fair Housing Implications
May I: – Provide discounts and incentives to certain groups
such as the elderly and the military?
– Place a prospective resident on a “Priority Waiting List or Future Resident Club.”
– Honor a request from a prospective resident who does not want to live near families?
– Direct prospective residents with families to other areas of the apartment community?
89
90
Leasing Demonstration and Follow-Up