We allow our leasing consultants to wear jeans when they have to work on Saturdays. There are defin...
John C
There some new apps worth checking out:
- The Property app - http://property-app.com
- Property Bu...

Training Trivia

Consistent follow-up can increase closing percentages by how much on average?

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596706511 [{"id":"244","title":"5% or less","votes":"0","pct":"0.00","type":"x","order":"1","resources":[]},{"id":"245","title":"Around 15%","votes":"1","pct":"3.03","type":"x","order":"2","resources":[]},{"id":"246","title":"Around 25%","votes":"8","pct":"24.24","type":"x","order":"3","resources":[]},{"id":"247","title":"More than 30%","votes":"24","pct":"72.73","type":"x","order":"4","resources":[]}] ["#ff5b00","#4ac0f2","#b80028","#eef66c","#60bb22","#b96a9a","#62c2cc"] sbar 200 200 /polls/vote/89-consistent-follow-up-can-increase-closing-percentages-by-how-much-on-average No answer selected. Please try again. Thank you for your vote. Answers Votes ...
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Posted by on in Social Media and Technology
  I’ve been following the whole TWITTER phenomenon very closely. At first, I was VERY confused; who would use Twitter and why? More importantly, why would I use Twitter, and what would I tweet? After months of following fellow-tweeters, tweeting, searching tweets, reading tweets, re-tweeting, something dawned on me: Not all Twitter users are created equal! In order to best understand and utilize Twitter, I had to decide what kind of Twitter user I was or wanted to be. Most Twitter users fell in the following 4 categories: Tweeters – These guys have something to say, and they are out there sharing IT with the world, or at least, the twitterverse. In the real world, these are generally your authors, writers, politicians, radio personalities, teachers, educators, speakers, advocates, socialites, personalities, class clowns, etc. Instead of a book, magazine, stage, forum, class, radio, soapbox, etc. – they use Twitter to get their message out. Followers – are exactly that. They follow the tweeters. They are the audience. In the real world, these would be readers, subscribers, students, supporters, etc. In the twitterverse, there is more opportunity to INTERACT with their tweeters than in the real world. AND, almost more importantly, that INTERACTION is shared with all fellow followers AND the collective twitterverse. These are the TOP 2 types of twitter users. In the business world, and in our multi-family apartment industry, the following 2 lesser known types are KEY to marketing and sales: Listeners – these are not just followers – these...

Posted by on in Property Management
Rental rate. It’s a critical factor. It’s the reason you’ve picked this asset class as your investment, and ensuring it provides the greatest return is your highest priority. But raising the rent can be a challenge. People are sensitive about money and no one wants to pay a higher price for exactly what they currently have. The truth is, inflation happens. Just like property taxes and other associated costs with houses rise each year, so, too, does the cost of living in an apartment, and tenants should expect this within a reasonable range. So, when it comes time for lease renewals and you’re facing the need to adjust rental rates to correspond with demand, the market, and the economy, these helpful tips should help ensure tenants respond positively by continuing to pledge their loyalty to your property. 1.    Be strategic. Don’t just say “It’s time for the annual rent raising event,” and send out a notice. Do your research. What is the current rate of economic inflation? What are comparable properties charging for their units? What separates your properties from others that warrants additional rent? Do you have additional costs? Are there amenities that have been added that must be shared? 2.    Talk it out. Once you’ve done your homework, make sure you communicate what you’ve found directly to your tenants in a well thought-out letter that tells them not only about the rental rate increase, but also the specifics about why it’s occurring. No one wants to hear “your rent...

Posted by on in Resident Retention
How’s the health of your tenants? I once asked this of a property owner and received the strangest look in response. It may not seem like something an owner or manager would have any need to be concerned with, but there are plenty of reasons why it should. For one, when tenants are sick or in less than stellar health, there is an increased risk of absenteeism at work and life in general. Of course, missing work leads to missed income, and that equals hardship when it comes to paying the rent. Second, the healthier your tenants, greater is the likelihood of prolonged loyalty (longer life expectancy = increased chance of loyalty). Finally, there is the simple truth that showing your tenants care and attention is a good way to increase their loyalty. Luckily, this may not be an entirely uphill battle. Many people in our society have made the move already toward cleaner eating, organic and locally-grown fruits and vegetables, and even high impact workouts that are based on the activities we engage in every day (lunge, deep squats, lifting our children, etc.). Now, you can help your tenants stay healthy by leveraging these and other trends for overall community betterment. Here are five ways to make it happen: Spread the Word: Use a property newsletter, email, or old-fashioned bulletin board to start a conversation about health. This can be a simple callout box in a margin that includes a diet or exercise tip, or even an entire article dedicated...

Posted by on in Apartment Marketing
Are you still of the mindset that video marketing is something only the big properties can pull off and/or afford? If so, you may be missing a very valuable opportunity to reach your target market. That’s because 90% of renters say they watch videos as part of the search process. According to an article on RentShout.com: “It's no secret that renters like to see what a property looks like before making a decision, and many times before they ever contact the property manager or owner. With video also becoming increasingly popular in online search, rental video marketingis a great way to bring extra exposure to your rental listings.” Why are videos so popular among renters? Here are just a few of the many reasons: Visual. Video allows the renter to ‘step onto’ the property without ever having to leave the comfort of their homes. They say a picture is worth a thousand words, but video is exponentially more powerful thanks to its allowance for going more in-depth with panoramic views, commentary, and effects. Informational. There is just something more appealing and personable about conveying information through video over having renters read a list of bullet-point items. You can also provide a lot more information and detail in the video to your audience than you may be able to in a paid advertisement or similar marketing collateral. Exposure. One of the best things about videos is their sharability. People just want to share the good ones with others, and, for this reason,...

Posted by on in Apartment Leasing
  Make the most of tours with quick easy summer leasing tips Studies show that prospects that spend more time in the display or vacant apartment home, are more likely to remember the property and much more likely to LEASE there! To help kick off your summer leasing season, here’s some tips to extend your prospects visits:   Keep cool beverages in the display/vacant frig!  Allow your prospects to slow down, take a breather and absorb the apartment surroundings with a break & a few sips of a cold beverage! Stock it with interesting choices & make it memorable!  Try raspberry lemonade   Have a Seat!  If you have a furnished display, let your prospects have a seat. Leasing agents should take the lead and be seated first, then ask your prospects to do the same!  This is the perfect time to engage prospect into conversation of how they would place their furniture in their new home and visualize living there!     Enjoy the great outdoors! Have a patio or balcony?  Make sure you’re taking prospects outside and as you linger, ask how they will enjoy their outdoor space once they get moved in! Make this popular space really inviting, with bright flowers & wind chimes.   GRAND FINALE!! FAV 3 close:  After the tour, ask your prospects to take one more look through the apartment on their own, and return and tell you their favorite 3 features!  This is a fantastic tool to use in your summary close!! It...

Posted by on in Multifamily Industry News and Trends
I know it may sound weird and different to some of you reading this, but if I am honest, I feel the most confident and “professional” when wearing a blazer, collared shirt, dark blue jeans and dress shoes. In business situations that do not require my wearing a suit, the blazer/jeans combo is my “go to outfit.”   (In fact as I write this post I am sitting at O’Hare Airport in Chicago, heading back home from a speaking engagement on the East Coast and, yes, I am wearing my preferred outfit, and NO the picture isn't me. But you already figured that out.)     So you can imagine my excitement when I was in Denver for a speaking engagement and I ran into a few colleagues that I used to work with when I lived in Colorado and they told me that the company changed it’s dress code since I worked there. The new dress code?    Yep, you guessed it….blazers/jackets and dark blue jeans.    The associates told me how they asked the leadership of the company to consider the change, how the leadership said “yes!” and how excited they all were about it.    Now, some of you just had a conniption (is that how you spell it??) thinking about your people sitting behind their desks NOT in suits or traditional “business attire,” but in jeans! And I can understand why you might have some heartburn just thinking about it.    BTW: This isn’t about jeans!  ...

Posted by on in Resident Retention
Ahh…summer. It’s that glorious time of year when people come out of hibernation, ready to socialize and enjoy the warmer, longer days. And nothing says summer quite like watching a movie under the stars. This 5-step guide can help you plan an outdoor movie night at your apartment community that your residents won’t forget.    1. Get Your Equipment Rent a DVD player, projector, speakers and a screen from a local audio shop. Be sure to test out the equipment before the night of your event. Next, choose a movie. Pick a summer classic like Grease, a popular movie that was filmed in your city, or a new release. Or, get your residents involved in the selection process. Offer three options and allow residents to vote.   Also, consider what kind of seating you’ll provide for your guests, whether it’s blankets on the ground or folding chairs. If you don’t have many chairs on site, ask residents to bring their own.  2.  Plan the Food What’s a movie without the snacks? Set up a “concession stand” with traditional movie theater fare like popcorn, candy and soda. Pinterest has some fun ideas for making things look fun and festive.  If you’re on a tight budget, ask your residents to bring a snack or drink to share and make it a potluck. 3. Spread the Word What’s a resident event without the residents? Promote your event to residents through a variety of different communication channels, such as: Social media Your resident newsletter A link to...

Posted by on in Apartment Leasing
Leasing can be extremely stressful. There I said it. Talking to clients on the phone, touring day in and out at your community, meeting your weekly goals, doing outreach here and there and managing your prospects all contribute to a large amount of stress. Leasing agents are the “face” of our business and day in and day out you are connecting with your clients, empathizing with their needs, solving their problems, listening to and responding to the good, bad and the ugly. You are preparing reports for your managers, calling for market surveys, planning the next resident event, and the list goes on and on. This week you are a hero with your 8 leases and next week back to a zero, having none. Rock star leasing agents seemingly handle all these situations with ease.  But once in awhile something happens. Something you can’t put your finger on. Your radiant smile has lost its glimmer; the spring in your step is feeling flat. Maybe you’re more tired than normal and the usual 40 oz macchiato doesn’t seem to be doing its job. The job you love and have been doing with light and ease is feeling murky and difficult. Then here’s that Talking Heads song that replays in your brain over and over  “You may ask yourself, how did I get here?”  Are you crazy? Maybe a little. But your “good crazy” actually helps to keep you sane in this industry, but that’s another blog. What is going on here can...

Posted by on in Resident Retention

I was watching a show today called "Inside Claridges", which delves into the inner workings of one of the most premier hotels in London.  Royalty, foreign dignitaries, and just immensely wealthy people stay at this hotel, which means that their attention to detail has to be without fail.  When they renovate a room, they require that a senior staff person actually stay the night in the room, examining it for any possible issue that might not provide the most exceptional experience for the guest. I realize that this is not a fair comparison, as our communities often don't even come close to the cost of these hotel rooms, so the resulting product simply will never completely measure up.  But after watching this, and seeing the passion for trying to create the perfect experience, I wondered if I took enough of a critical eye to each move-in as I could have, when I worked on site.  In that sense, I see this video as an inspiration of sorts - maybe an apartment community with fewer resources will always have a few warts, but I think a passion towards this view of the perfect experience could elevate us to the next level.   Enjoy the clip below:  (Skip to 52:20)  ...

Posted by on in Resident Retention
For anyone who’s lived outside of the country, it is pretty obvious that the definition of customer service is not universal. Once, while waiting to be seated at a beautiful café on the shores of the Mediterranean, another patron cut in line and was promptly shown to a table by the hostess. I gave the hostess an inquiring look and she told me in no uncertain terms that if I wanted a seat I needed to make sure I was at the front of the line. This experience was typical of the customer service I received during my time abroad. These memories stand in sharp contrast with another experience from the same business trip. On my return flight, I had a small layover in JFK, and decided to indulge in that most American of traditions; a Dunkin donut. The line was orderly and efficient, and when I reached the front I was greeted by a smiling, happy (by all appearance), Dunkin Donuts employee who kindly welcomed me to the establishment and asked me what I would like to order. Once she’d taken my order, she then proceeded to smile at my jokes and in remarkably short order, served up a delicious Bavarian Crème donut and orange juice. The experience was painless, and all the more remarkable when I realize the best customer service I had received in the past three months was at a Dunkin Donuts in a dirty New York City airport, at 6:30 in the morning. Customer service does...