3 Sales Tactics Leasing Teams Should Know in the Competitive Rental Market

Preparation, sincerity and heart will set you apart.

With the rates of people choosing to rent increasing steadily in North America, more and more units are being developed and targeted toward prospective renters-- over 20 million new households in the next ten years, to be exact--, and with that increase comes unquestionable competition. Newly launching rentals are being compared in features down to the very minor details. So how do you stand out?

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Property Managers expediting tours of their spaces need to be aware of the fact that their prospective tenants are in the process of viewing other units, and in the “comparison game” of these details that can be weighed in variances of importance level from prospect to prospect. So, the leasing teams in charge of touring prospective residents need to be well equipped for the task.

 

Preparation is key to any successful sales presentation. Giving a tour of an apartment is no different!

Utilize available software to track appointments and prepare for who you’re meeting with. What is the client’s name, their budget, how long have they been searching for, and where did they hear about your property? These can all be automatically tracked by taking advantage of available property management online solutions that provide tracking and auto generation of guest cards.

Why not quickly check Facebook just before meeting with the prospect(s) to see what they enjoy, or get an idea of their personality? One has the option to make their social media public, so why not take advantage of the information your client chooses to disclose prior to meeting them?

Ensure that your leasing team has had sufficient training and knows the “product” well. Your team should know what to highlight about each suite and its key, driving features, rather than just walking through the rooms and pointing out aspects as noticed. Use those incredible skills and go off script as deemed fit.

You also want to be prepared for any questions that arise during the tour. Make sure you always have a way to say YES, or offer an alternative that will please the client in the end.

 

Don’t be afraid to make it personal.

Cater the tour to the prospect. Ask questions up front to understand their needs and qualifications. Online booking tools, such as LeadManaging’s Online Bookings, enables prospects to easily answer the pre qualification questions at the time they are scheduling their appointment so that they can be checked prior to the date of the tour.

Ensure that you understand the prospect’s wants and needs prior to showing the available units. This way, you are able to prepare and personalize the tour. The key highlights about a unit should not look the exact same for every tour. What may be important to one prospect, may be very trivial to another.

The goal is to make customers feel respected and cared for throughout the sales process. Actively listen to the prospect while touring, and jump in with a positive remark if they show signs of disapproval. Solve their problems with solutions you’re happy to back up.

Master the art of storytelling! Share a story about how the rental community (people, accommodations, amenities) has positively impacted your life personally. An impressive 63 percent of people remember stories after a presentation. Just be yourself, be genuine, and enjoy getting to know new people.

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Stay top of mind with post-tour follow ups.

Either set up an automated process for sending follow ups to prospects after a tour, or make the effort to reach out yourself. This allows you to stand out even more amongst other buildings they’ve visited.

Give your prospect the day to process, and then make sure that you haven’t left their thoughts by sending over a personalized message asking for the lease. Asking for the lease is one of the most important steps in the leasing process, so if you have an easy method for prospects to apply online, send it over a day after their tour.

Ask prospects for feedback on how the tour went so you can see where you may need to improve. This denotes organization and care about the way you run your team and how you serve potential and current residents.

Ask the clients if they have any additional questions to help them in their rental decision. Sometimes questions or concerns don’t come out during a tour (you know how it can be when you are all caught up in the moment and your brain goes blank when someone catches you off guard with “do you have any questions?”) so, if you can help answer and respond to any concerns a day following the tour, this can help reassure the prospect that they will be well taken care of if choosing your property as their home.

Send a second or third follow up if you don’t hear back. It may be between you and one other competitor, and sending one extra cushiony touch point may be the tie breaker and decision maker in their apartment search.

 

By implementing these three strategies into each tour, not only will your professionalism, assistance and sincerity impress and entice the prospect, your job will be a whole lot easier, more efficient, and more enjoyable.