That's right, it deserved an explative. Why in this industry do we get caught up on this number? My question is how many leases did you get today (or this week)? I don't care how many times you picked up the phone or how many people you showed an apartment to get that/those lease(s) as long as you get them.
Why, Mark, why? Because you're all full of #&%! when you tell me how many calls or traffic you had anyway as you're afraid to have a low closing ratio. We've been holding you to some magical closing ratio number, and it's time to stop. I love interviewing new leasing candidates or managers and they tell me that they have a 50% closing ratio or higher. I call BS! How is that exactly measured anyway? Is it based on people you actually showed an apartment to? Is it based on everyone that inquired? Does it include people that are interested in a one bedroom that you have no availability for?
And given all that criteria, what really matters? I think two things matter.
1. Getting the leases to achieve the goals set for yourself and management.
2. Recording every single call, visit, or inquiry of any kind that comes in.
I believe these are the key measurements needed for leasing and marketing a community. And that's why I no longer give a #&%! about your closing ratio.
Enjoy your day!
Mj