I still remember my first day as a leasing consultant as if it were yesterday. While I didn’t receive any formal training, my new boss did greet me at the clubhouse entry with the Apartment Guide (pages tabbed) and a yellow notepad. She said, “Go shop your competition!” I did what I was told to do, although I was not really sure what it meant. I had heard about this “shopping the competition” thing from friends in the industry, but I just tossed it up to spying on the competition. I was excited—I had always wanted to be a detective! What would I look for? What secrets could I uncover? What reward would I receive for my effort? I had no idea what I was doing. Sending me out cold with little to no information as to what I should have been looking for was like asking me to find the needle in the “infamous” haystack.

Nearly 23 years have passed since that day. I have shopped thousands of apartment communities in one form or another and have experienced what I refer to as “The Three Levels of Shopping the Competition”—moving from seeing only the obvious to having the ability to see the obscure.

1. Seeing and Feeling the Obvious- Level 1

I was really missing the point of shopping my competition, but I had no idea what the point was. I might have returned with some good “presentation” information, but more than likely a result of luck rather than skill. Even my untrained eyes, nose, and ears could see or sense the obvious such as,

· Water dripping on my head from the upstairs apartment

· A mean spirited leasing professional

· Stained carpet scented with dog urine

· The smell of marijuana flowing from the neighboring apartment

· The black fuzzy mold coating the inside of the hot water heater closet

I had my spy glasses on and I was looking for the bad stuff! What I didn’t realize was that I should have been looking for good stuff too.

While a new employee might not be able to evaluate the competitor’s “presentation” as well as someone with a more seasoned eye, they have expectations of an experience. They know how they want to feel when it is all over. It’s the customer experience piece of the puzzle.

“I've learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel.”

― Maya Angelou

The customer experience is about the emotional needs,

· How did I feel when I walked in the leasing office?

· How did the leasing consultant make me feel?

· What did the surroundings look and feel like?

· What impressed me—or didn’t?

· Would I want my best friend or family member to live here?

This is the kind of information that allows a leasing consultant to model the things they value and begin to create their own unique sales presentation. To focus on what was happening to them when they felt a certain way and then discern what needed to be said or done differently. At this point it doesn’t matter if they didn’t pick up on the fact that the fitness center was inferior to theirs or if the competitor silently closed them 3 times before they ever entered the apartment.

Is there a tool that allows you to document, organize, evaluate and then act on all of this information? Yes—a shopping report! Shopping reports are a great evaluation tool for your employees and a great tool that can be used for shopping the competition. When you ask an employee to use your shopping report on their competitor you are introducing them to your expectations and teaching them at the same time what they should be looking for. Your shopping report should include an evaluation of both presentation and customer experience because customer experience is a determining factor in whether a person leases or not.

This is the tool that I needed as a new employee, not the yellow notepad.

It can be difficult to see something, even when you can see it, when you don’t really know what it is that you are looking for.

QUESTION: Is it better to ask your new employee to shop their competition before they attend training, in the middle of training, or after they have completed their new employee training?

Things that make you go hmmm….

2. The Compare and Contrast Lens- Level 2

After an employee is experienced at leasing apartments and shopping their competition their eyes begin to see things differently. They develop their own presentation and expectations and are able to compare and contrast that to the competition. They can answer the questions, “How does my community/product compare to XXX?” and “How does my presentation compare to XXX?” They become very sensitive to the obvious—it screams—and they begin to see the obscure. They have also gained enough knowledge to be able to compare and contrast the “presentation” AND “customer experience” to theirs.

Here are a few things they might say:

• The leasing consultant presented a benefit for every apartment and community feature. I need to work that into my leasing presentation.
• They have applications available in the model apartment. We don’t do that. Great idea!
• The Leasing Consultant began closing me the moment I sat down at her desk. She was a little too aggressive and made me feel pressured. I can do this without being pushy!
• Their athletic center closes at 9pm. Our athletic center is available 24 hours to our residents. I need to make this a talking point in my leasing presentations.

3. X-Ray Vision…Seeing the Obscure- Level 3

I once worked for a regional manager who would conduct monthly property inspections. I remember how proud I was the first time she visited my community. I was certain that I would receive a high grade. When her notepad hit my desk it was half full—I was in complete shock! Actually, I was offended. Looking back, she was by far the best regional manager I ever reported to. She would literally take a magnifying glass and a white glove (I am not kidding) into the models and vacant apartments and conduct her inspection. I never received a perfect score from her but I came very close once. She marked me off for not burning the candle wicks in the model. Yes, she did! It was as if she had x-ray vision. It takes many years of shopping apartments, walking apartments, training a lot of people, managing or overseeing various levels of communities, etc. to arrive at this level.

They notice things like…

• The microscopic cigarette butt laying in the grass
• The monument sign displaying a font from the 80’s
• The walkway up to the leasing office that needs repainting
• The customer who appears happy to be there or the customer who appears eager to complete their business and be on their way

At the end of the day the key to understanding your competition is to understand why their customers—your potential customers—view them as a preferable (or not) source for the products and services they offer. The most valuable information is derived from competitive shops that are approached from each of the 3 levels mentioned above—from the obvious to the obscure.

There's a reason why your competitor is your competitor, and it's critical that you understand what that reason is.

Stay tuned for my next blog post, “How to Get the Most Out of Shopping Your Competition.”

We all have different views and different experiences. This is my 2 cents worth. What’s yours? I would love to hear what you have to say!