Apartment Demonstrations vs. Tours

 

 

We all love giving the apartment tour. That is where we get to see the prospective resident(s) eyes light up and they begin to imagine themselves living in the apartment home. Unfortunately, that dream moment only lasts a couple of minutes and then we need to be prepared to answer questions, handle objections and go for the close.

 

I have been in the apartment industry for over 2 decades and shopped hundreds of communities and can honestly say, I can count on one hand the number of great demonstrations I have received from Leasing Specialists. Sadly, I can also tell you, I, my family and my circle of friends do not have enough limbs, fingers and toes to count the horrifying, un-motivating, non-action inducing tours I have been subjected to over the years.

 

Demonstrating an apartment home is an art form, well thought out, practiced and consciously customized from the knowledge a Leasing Specialists extracts during a phone or initial meeting conversation. The details of the prospective resident(s) must be carefully woven into the demonstration narration, specifically highlighting benefits of features that significantly apply to them individually.

 

The bad news is, most Leasing Specialists are never trained how to effectively demonstrate an apartment. So out of ignorance, they become tour guides, merely announcing the rooms. Leasing Specialist: "This is your kitchen." Prospective Resident: "Holy crap, thanks for telling me, I would have put my bed in here next to the stove!" Leasing Specialist: "This is your bathroom." Prospective Resident: "Wow, you are great, I thought the room without the toilet and sink was the bathroom!"

 

Fess up, you know you have done this, and possibly are still doing it today.

 

We are missing our opportunity to point out benefits of features that would motivate the prospective resident(s) to apply, leave a deposit and move in. Below are some demonstration tips that are sure to increase your closing ratios.

 

Tip #1 - Use your initial phone or in person meeting to extract as much customizable information as possible. Find out names of all of the occupants, names of pets, furniture sizes and colors, interests like baking, clothing, watching televison and what's important to them like outdoor living space, quiet neighborhood, social activities, etc. Anything you can find out, will give you more to utilize when customizing the demonstration. During the demonstration, state everything as though they have already rented and it is his/hers/theirs.

 

Tip #2 - Upon arrival to the model or make ready, build the suspense, keep them outside the door by asking them a few questions. "Have you seen many apartments with ceramic floors throughout?", "Can you picture what 1400 square feet looks like?", "Can you imagine your 12th floor view of the city?" and finally "Are you ready to see your new apartment home?" Upon their positive answer of "Yes", unlock and swing open the door and say "Welcome home!"

 

Tip #3 - Don't announce the DAMN ROOMS, they know what they are. Immediately start pointing out the benefits of the features that you can customize specifically to them, based upon your phone call or meeting. "You told me you liked to entertain, so notice your entry guest closet." "On the same note, take notice of how open the layout is, you can have guests on the balcony, in the living room, in the dining room, at the bar and you will still be able to be part of the party while working in your kitchen."

 

Tip #4 - Know your floor plan facts. "I know you said you like to cook, so that typically means you have a nice collection of pots, pans and dishes. Notice, your kitchen has 18 cabinets, 4 utility drawers and 14 linear feet of countertop space." "Since you told me you work retail, I am assuming you might have a great wardrobe and collection of shoes. This specific floor plan offers at total of 1280 cubic square feet of closet space." (height, multiplied by depth, multiplied by width)

 

Tip #5 - Make them work for the reveal, don't do it for them, this gets them actively involved. "Open your glass sliding door, step onto your balcony and check out your view." "Open your refrigerator and see how many cool compartments there are for your eggs, meats, vegetables and dairy." "Step into your walk-in closet, stretch out your arms, notice you can touch the walls, this is a big closet." "Turn on your stove overhead exhaust fan, listen to how quiet it is."

 

Tip #6 - Remember, they are soon to be homeless, and you just showed them an apartment home that has been customized specifically for them. "Robert, picture your 60" TV on that wall while you watch the Super Bowl, it was built just for you." "Gretchen, picture your first cocktail party, with all of your tasty appetizers artfully displayed on the bar for all to admire." "Penny, picture all of your dollies lined up in the window sill, so they can watch the birds play in the trees while you are at school." "Jimmy, your pet lizard Fang, is going to love all of the sun that comes into your bedroom window."

 

THEY WILL RENT, ASSUME THE APPLICATION AND DEPOSIT. "Ok, let's get back to the leasing center and do the paperwork, so we can get these keys into your hands soon!"

 

Of course there are many other things involved in the dynamics of being a great Leasing Specialist, but one of your strongest tools, is your demonstration talent. Your company is potentially giving you a $12,000 tool annually (lost rent on model), use it wisely and with aggressive dedication. Likewise are the vacant units, each day is lost rent, yet if demonstrated well, the loss can be minimized.

 

So, consider yourself fired as a Tour Guide, and rehired as a "Demonstration Artist"! Let, the demonstrations begin and the commissions roll in!!!



The Fish Stinks From The Head Down

 

For those of you who know me well, you know "The Fish Stinks From The Head Down" was a saying taught to me by my mother referring to upper management ... or possibly sometimes my dad! None-the-less, it became a saying that has stuck with me and reared its fishy head many times throughout my career. I cannot tell you how many times I have watched employees from differing companies and industries give the, "They Just Don't Get It" look, when discussing topics regarding their supervisors.

In the beginning, I used to believe it was the employees, maybe the employees didn't understand there were budget constraints or specific company goals and procedures. Unfortunately, as time goes on, I am beginning to realize ... often times upper management doesn't get it, AND THAT STINKS!

While I happen to be a technology lover, it is becoming evident to me how easy it is for management to become disengaged with "Real Time Reality", due to the infinite availability of online information. It has become a prevalent behavior for upper management to sit in offices and review reports, analyze numbers and pontificate strategies without ever having step foot on site or solicited first hand comments from the employees they entrusted their beloved assets to.

I think back (way back) on my days as a Leasing Professional and I try to imagine how I would have felt about call centers booking my appointments. Personally, I loved building the relationship over the phone, and for the most part, couldn't wait to meet the person and put a face to the voice. I remember asking tons of questions regarding furniture, children names, pet names and even getting them to share some hobbies or interests. I copiously wrote the information onto the guest card and carefully reviewed it before they arrived, so I could greet them by name and customize their tour based upon the relationship I had built over the phone and the personal information I had gathered from them. If a call center was responsible, I wonder how engaged I would be?

I think back (again way back) on my days as a Leasing Direct and try to imagine how I would have felt about online market surveys. Personally, I always found it very exciting to visit the competition, meet the Leasing Professionals I was competing against and see the product first hand. Today, that opportunity has been greatly reduced, with almost no need to communicate with the competition, all due to online access of market surveys. I wonder how engaged I would be?

As I rose in the ranks and reached that middle and upper management plateau, I remember us all being road warriors, visiting assets every week, meeting with community employees, always in the thick of things and experiencing it first-hand. Today, be it a focus on reducing travel expenses or pure convenience, I witness executives in every industry across the nation, sitting behind their desks scanning computer reports, analyzing from afar exercising little to no communication with the asset teams other than via email. I have to wonder, how engaged could they possibly be.

I remember reading a book, Lincoln on Leadership by Donald T. Phillips, and his theory regarding Lincoln being so successful was predominantly based on the fact that Lincoln got out and met the people, saw the problems, became aware of what laid ahead ... he was actively engaged!

Executives, when was the last time you sat down and spoke with housekeeping, grounds, maintenance or leasing team members? Are you engaged? These are the people running the asset ... and "They Do Get It"!

So dig that top hat out of the archives and go shake some hands … it is time to RE-ENGAGE! Do you get it?

What Type Of Vendor Are You? Salesperson or Partner?

 

 

As a Vice President of Marketing I am bombarded on a weekly basis with existing vendor phone calls as well as phone calls by potential new vendors.  Everyone has something to sell and of course it is always better than the competitors.

As I tell my Leasing Specialists, "We are not selling anything that unique"!  All two bedroom apartments have two bedrooms, a kitchen, bathrooms, closets, wall-to-wall neutral carpet or tile, window blinds and ceiling fans.  What makes the apartment unique, is you as their professional specialist.

I think the same rule applies to vendors.  Though they do not want to admit to it, a guide is a guide, a painter is a painter, a .com is a .com, a laundry company is a laundry company, accounting software is accounting software, etc.  Sure, every company has its "Bling", be it granite counter tops, maintenance inventory program, reputation management module, automated reporting ... whatever, but in the words of my grandfather, "Same sh-crap (edited), different flies"!

I once read, "It is not who you are in business, it is how you are in business".  Wow, does this ring true to my business decisions!  I listen carefully to vendors, alert to egos that cloud, statistics written as commandments, sales approaches that feel like tongue depressors ... and when I recognize these traits, I turn and RUN LIKE HELL!!!

It is funny how the human mind works, when I watch commercials on television, I am always disappointed in the ones that directly bash their competitor.  In fact, if Pepsi bashes Coke, I go out and buy Coke.  If Tide bashes All, I go out and buy All.  Just as I tell my Leasing Specialists, "Never bash your competitor".  However, you may want to lead your client to ask good questions when considering your competitors product - "I totally understand why you would want to visit Mini-Manor, it is a lovely community.  Be sure to ask about their fitness center (you know it is small) and you may want to check to see if they have a car care center (you know they don't)".

I believe there are 4 types of vendors.

1. The Blind Vendor - this is the vendor who knows nothing about your business but has the perfect product for you.On a weekly basis I receive calls from internet surfing salespeople who have found my name and/or title.  They have construction equipment to sell me, they have office equipment to sell me, they have vacation programs to sell me, etc.  Typically, I interrupt with a "Remove me from your solicitation list please".  But the most frustrating are the ones who actually have something that might be of interest to me, but don't take the time to research my specific company (i.e. Tax Credit / Income Restricted, therefore wasting my time with a market rate sales approach)
2. The Evangelist Vendor - this is the vendor that identifies your ways of error and has the product to save your business.This one ticks me off the most, much like religious fanatics.  Weekly I receive emails or phone calls from SEO strategists who have apparently gone to our website, prayed over it and the SEO Gods have told them it needs to be saved.  Quickly they construct a not so lovely written or oral message in which they ever so humbly point out our SEO sins and attempt to set up a healing session.
3. The Rock Star Vendor - this vendor believes that they first and their product second are superior, and you are a complete idiot for even considering their competitor.They are #1 listen to all of their amazing personal accomplishments.  Their company is #1 ask anyone, everyone knows.  Their strategy is #1 that is why they have no competition.  Their product is #1 they have the statistics to prove it.  Blah, blah, blah.  In the infamous words of Heidi Klum, "One day you’re in, and the next day you are out"!
4. The Vendor Partner - this vendor wants to learn more about your product and needs - in order to analyze if their product may or may not support your business efforts.  Upon becoming a partner, they want the truth - how is their product working, what can they do better, etc.I love the cold call that starts out with, "My name is John and I work for a company that specializes in multi-family housing products and services.  I don't want to waste your time, we may or may not have something that could support your business goals ... but if you ever have time and could share with me more about you, your company, your goals and areas of needs - I would love to have the opportunity to learn more and see if we can assist".  OMG, sign me up, I will meet with this vendor all day long!!!

I love vendor partners; they become part of your "Family of Success".  While sometimes I may be forced to work with the Blind, the Evangelist or the Rock Star, I do not consider them part of my family, nor ever will.  And if given the opportunity, I will put their account up for adoption in a heartbeat.

I had the good fortune of contracting with a company a few years ago whose owner had a "Vendor Partner" mentality.  When his team shared with him that I had identified weaknesses in his product and services, he did not get defensive, he invited me to an all-expense paid trip to his corporate office to meet with him and his team to discuss the issues, which ultimately lead to him putting together a customer guiding committee of sorts.  Later, I had the misfortune of him selling the company to a less receptive owner.  I unveiled to my new salesperson (who is awesome) some of my continued concerns and she and her boss truly did their best to extinguish them.  Unfortunately, the new owner is a "Rock Star".  I received an email from him and in the subject line it read, "I would cancel too".  I feel bad for my salesperson, I would hire her in a split second, but I have no time for tantrums from the top.  If I am unable to express my concerns without someone going all "Lindsay Lohan" on me, forget it!

So vendors, take heed in your style of approach, it makes a difference in our decisions. 

 

Become part of our family, know Mondays suck and stay away, stop selling more and be thankful for what we have bought, respect us as professionals and stop with the unannounced visits, train us to use what we have to the ultimate capacity (and we will want more), reward us with your non-defensive ear, recognize your product is one of many - it is YOU we are contracting, not the product.

The question is:  Do we dread doing business with you, or are you considered one of the family members?

In other words, are you WANTED … DEAD or ALIVE?



 

 

To Speak Or Not To Speak, That Is The Question

As a keynote speaker I often am approached by aspiring speakers who want to know what it takes to be a successful presenter.  I always hesitate to tell them what I think it takes, because there are so many different types of speakers that have grown to be far more successful than I, such as Tony Robbins (author of Unleash the Power Within), yet I do not find him that great of a speaker, in fact, walked out of his seminar the first time I heard him.  So, I don't know that I have the right set of tips ... but here is my take on what makes a great speaker.

1. Be Comfortable In Your Own Skin
   Standing in front of a large group of people is basically like bearing your soul to the world.  They not only assess what you are saying, but also your age, your appearance, your manners, your body language, your experience level, your thought process ... EVERYTHING!  Therefore, you have to be very comfortable with yourself, the worse traits for speakers to have are inflated egos, defensive behaviors and know-it-all attitudes.  In my estimation, these people will crash and burn in the first 10 minutes on stage.
2. Be Comfortable With Your Content
   As a presenter, audience members are attending to gain knowledge and ideas from an expert regarding the topic being presented.  Therefore, presenting on a book you have just read, or a trend you have just heard about, is probably not a good idea.  Present on something that you are comfortable with, have first hand experience with and have implemented or practiced multiple times.  You have to remember, on stage is not the time to be making stuff up!
3. Be Comfortable Not Knowing
   Sometimes I think you gain tons of audience trust by admitting that you don't know something.  It is inevitable that at some point, someone from the audience is going to ask a questions that you don't know the answer to ... awkward!  The best thing you can do is compliment them for asking such an insightful question, admit to having not previously thought about the content of their great question and then throw it out to the audience to see if they have an answer.  You know the old saying, "Two heads are better than one", well, you have an audience of heads so you are sure to come up with a buffet of great potential answers.
4. Be Comfortable Sharing The Good And The Bad
   The best and most inspiring teaching method is life experience.  Don't make the mistake of sticking to your success stories, while they are great and lend credibility to you as a speaker, they tend to get boring.  Your "Epic Failures" are what are truly entertaining, and again, I believe by sharing these failure stories you gain the audience trust, you seem more real and trustworthy to them.
5. Be Comfortable Making A Fool Of Yourself
   The key to a successful speaking engagement is comprehension, retention and implementation.  Many studies have proven that laughter creates a positive learning attitude aiding the brain to comprehend at a more rapid rate.  Additionally, this positive attitude inflates the motivational desire to implement the skill the audience member has learned.  Therefore, make a fool of yourself, tell embarrassing stories, create bizarre scenarios to drive your point home.  Now is not the time to dress yourself in the armor of pride, now is the time to strip and show them your foolish self.  If they are not laughing, they are not learning!!!

I am blessed enough to have a friendship with Joel Zeff', one of America's funniest motivational speakers.  He has the innate ability to not only make a fool of himself, but also complete strangers from the audience, and might I add, without getting a fist thrown at him.  His ability to engage a crowd through humor, present a point and drive it home with a summary is inspiring.  He once told me, you have to treat the stage like your home, say what you want to say, be what you want to be, do what you want to do ... and people will want to come and visit you at your home, the stage.  Because of this comment and his undeniable success, I have presented my Top 5 "Be Comfortable..." speaking tips!  I hope that you find the stage as comfortable as Joel and I have, and soon call it home.

Break A Leg, and hope to see you on the next speaking circuit!