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Training Trivia

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

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217468064 [{"id":"244","title":"5% or less","votes":"0","pct":"0.00","type":"x","order":"1","resources":[]},{"id":"245","title":"Around 15%","votes":"1","pct":"4.00","type":"x","order":"2","resources":[]},{"id":"246","title":"Around 25%","votes":"7","pct":"28.00","type":"x","order":"3","resources":[]},{"id":"247","title":"More than 30%","votes":"17","pct":"68.00","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 Property Management
internet-dating-celebs12So you read the title and you’re like, “Whaaaat?!?!” Here’s the thing, my best friend and I are both in property management. We are also both in the dating scene as single mothers. Well, recently, me, more so than her, as she has a steady fella. Anyhow, we are both privy to the world of dating. And you’re currently thinking to yourself, “Ok Britt, just get to the point what this has to do with property management already.” While talking today over lunch about internet leads and just the entire realm of ILS (Internet Listing Services) in property management and bad responses vs good responses, we both thought the exact same thing at the exact same moment. How do you respond to an internet lead well??? You treat it like online dating! Here’s the thing, it’s the 21st century. Not only are people dating online before even getting to a “real” date, they’re also shopping for apartments online before coming out to your community! You start internet dating by putting up your profile, writing some really great information about yourself, that while is very fluffy, is also genuinely true. Then you move on to the photos. You scroll through your phone’s camera roll, attempt to find the best selfies you’ve taken recently, try to find some photos of you that are not selfies (do those exist anymore??) and then voila’….you have just created your internet dating profile? Guess what? All of our ILS’ do this for our communities. Our reps come out...

Posted by on in Apartment Investment
In my last blog post, I walked through the four main stages of applying to the U.S. Department of Housing and Urban Development’s multifamily refinancing and acquisition loan insurance programs, with an eye toward helping prospective borrowers understand what goes into the process and what will be expected of them. Now, our attention turns to issues that may arise during each stage. These issues – which range from mere speed bumps to dead ends – are important to know as many of them can be avoided or mitigated before the application is even submitted. Borrowers  and lenders who ignore these common pitfalls do so at their own peril – counting on agency reviewers to miss or downplay them is a sure-fire way to add delays to the process and could even derail your transaction. Concept Meeting Stage: When submitting a concept meeting package to HUD, there are several kinds of issues I tend to ask about, in addition to getting the information I need to create a brief summary of the transaction, the deal team and the project’s history. These issues typically involve potential risks to the deal and can include: any environmental issues such lead paint, flood zones, noise issues from an adjacent rail line or major highway, unusual financing arrangements or proposed renovation costs that may exceed HUD’s programmatic limits. Oftentimes, the HUD office will send out a team to see the property after the concept meeting and prior to their final decision to invite or deny an application invitation....

Posted by on in Apartment Leasing
There are many variables that go into rapport building and we all can attest that maintaining rapport is a vital aspect in successful leasing presentations. Recently, one of my leasing agents was asking me about NLP, an acronym they had just become familiar with and how it could relate to leasing.  I am quite the advocate in KISS (Keep It Simple Sunshine) so I  am going to share with you, as I did with my agent what I perceive as some of very basic foundations of the art of rapport building as it relates to NLP aka: Neuro-Linguistic Programming. There are many articles, books, and online classes relating to this field (google it!) and I encourage anyone that sparks and interest to go for it. Learning is growing!! The foundation of Neuro Linguistic Programming is that people tend to interpret, think and communicate in either a Visual, Auditory or Kinesthetic way. Nobody is just one 100% of the time, but most people will tend to lean towards one or the other. They key is to listen so you can pick up on what type of person you are communicating with and use these skills to strengthen your relationship. One of the fundamental principles of NLP is that ‘people like people who are like themselves’, and adjusting your speaking patterns to be more like the person you are communicating with is so important in developing and maintaining rapport during a presentation. The “K.I.S.S. of N.L.P.” Breakdown: Visual people will think and speak in...

Posted by on in Apartment Marketing
If I were to ask you to quickly name ten companies who have tried to communicate with you in the last day, could you do it? If you’re like me, you might struggle to recall ten specific companies. Now, think about how many messages you are exposed to each day. How many do you see on your commute to work? As you watch TV or listen to the radio? At the top, bottom and sides of the web pages you’re viewing? Interrupting your latest game of Trivia Crack? In almost every place and at every time of day people are surrounded by marketing messages. With so many opportunities to see or hear these messages, why do we struggle to retain or even notice so much of the information that is right in front of us? The answer is that our everyday lives are filled with communications clutter. Strategic marketer and author J. Walker Smith explained it this way: "Advertising clutter is the single biggest problem with marketing. Not just today, but as long as advertising has been around. People are annoyed by ads that show up in unfamiliar places, but become used to them over time. Yet, consumers can process no more information today than they could before, and perhaps even less. Multi-tasking is just a fancy word for paying little attention to many more things at once. If we really want to do good marketing, then we have to get out of the clutter business and stay solidly in the...

Posted by on in Multifamily Industry News and Trends
I love the NAA Education Conference, and trying to plan my schedule for the event is both incredibly exciting and also one of the hardest things to manage.  With so many amazing topics and presenters, how is anyone supposed to narrow down their list to fit it all in?  I suppose that is an "embarrassment of riches", being overwhelmed with some many great sessions.  And as impossible as this task may be, I'm going to highlight some of the sessions that look incredible. Apologies in advance to all the absolutely brilliant sessions that are not on this list.  I could easily double this list and still not include all the amazing sessions!   KICK-06 Wednesday 3:15pm Tune up your Turnover: 3 Predictive Analytics to Optimize Renewals A high-energy, interactive session that blends BIG data with real-world answers to help you GAIN and RETAIN your most profitable residents. Discover some surprising statistics that may be hampering resident retention and turning off prospective residents. Identify triggers to prevent turnover exposure and discover the predictive analytics you need in order to get more traffic, and spend less money generating it by tapping into your biggest resource – your existing residents. Let’s maximize the performance of your community or portfolio. Eric Clark – Director of Marketing, Altman Companies Jen Piccotti – SVP of Education and Consulting, SatisFacts and ApartmentRatings.com, (Moderator) Heather Blume, CAS – Speaker, Trainer & Author, Behind The Leasing Desk Training and Consulting Services   This session had me at "your biggest resource...

Posted by on in Apartment Maintenance
emergency service.pngIs this considered an emergency? Almost all apartment communities provide this service and in fact, consider it to be a part of their customer service/amenity package. We tour prospective residents and proudly boast this service.  We are here for you 24/7.  We compile a list of what is considered and emergency and then put in place our process to take these calls and manage them from start to finish.  With my organization, we take it a step further and offer extra features to both resident and management office.  Things like documenting the maintenance tech response time, sending a photograph of the responding technician to the resident via text message AND recording the call between the maintenance technician the resident.  These tools are helping our clients provide an even higher level of service to their residents.   One of the most useful features, in my opinion, is the call recording.  As part of my preparation for sales presentations, I listen to these calls.  I seek to find calls that will demonstrate the incredible value of being able to hear the conversations.  Almost every time I listen to these calls, I hear resident requests for one thing in particular that is not typically considered an emergency.  The common “non emergency” call I hear goes something like this. Tech: Hello, this is Joe with after hours maintenance, how can I help you”Resident: “Yes, I’m not sure this is considered an emergency, but my smoke detector is making a chirping sound and I don’t know how to get it to stop.”Tech: “Yeah, it probably...

Posted by on in Apartment Leasing
In all circumstances, a lie is a sign of fear. People tell lies when they fear that the outcome of honesty won’t be in their favor. When it comes to leasing apartments, the fear is that the prospect will pass on your offer, causing you to miss out on the value they would’ve brought to the property and to you.  It’s vital to recognize that the short-term benefits of dishonesty cannot compare to the long-term benefits of being transparent. A resident that you convinced to move in by lying will quickly become disillusioned and will either seek to break their lease as soon as they can, or refuse to renew their lease once it expires. Dishonesty Can Cost You More Than You Might Think As anyone who has extensive experience in the business of property management and leasing apartments knows all too well, it costs much more to have a high resident turnover rate than it is to maintain resident loyalty. The turnover expenses come in the form of advertising fees, apartment cleanup, additional time spent searching for and screening new prospects, and much more.  Depending on the size of the property and the turnover rate, such expenses can easily add up to several thousands of dollars a year. All of that money is money that uncompromising honesty can help you save.  But the financial burden of dishonesty in apartment leasing doesn’t stop with the cost of bring in new residents. It’s important not to forget that the resident who moved...

Posted by on in Property Management
  One of my blog mentors (Brent Williams to be exact) recently suggested to me that I break from the tradition often followed by those of us who teach fair housing.  More often than not we tell you what you cannot and should not do (and the dire consequences should you in fact not heed our collective warnings).  So at Brent’s urging, this is a marketing blog that tells you what you can do yet still stay fair housing compliant (and even earn bonus fair housing points).   Yes, you can market your community as family friendly.  The Fair Housing Act prohibits advertising that indicates a preference for/limitation of (or discrimination against) the protected classes (race, color, religion, national origin, sex, familial status and disability).  But it is acceptable to market specifically to people with children for the simple reason that their opposite (people without children) are not a protected class. Is your community a quiet one, either because of the neighborhood (perhaps not much traffic) or because of your own rules (quiet community)?  Then make some noise and shout if from the rooftops.  Or put that in your marketing materials.  Just be sure, though, as prospects come to visit, that you are consistent as to with whom you share your quiet dictate (you should tell everyone, no matter that they do not have children, that you have quiet rules for all your residents). Yes, you can refer to the walking distance or “walk to” benefits for your residents.  Often it...

Posted by on in Property Management
CapCon2Let me start off by saying, I am not a political gal, in any shape, form or fashion. If you start a conversation with me about politics, more than likely I will be lost and remain silent, as any opinion that I may have to offer, based on subject matter, will not be an educated one. But, I was provided an opportunity to be a part of the NAA Capitol Conference this year. And will be provided the same opportunity again next year. And I have to say, I may very well become an advocate for what the Capitol Conference stands for and what it exists for. Because while I am already extremely passionate about what we do for a living, the Capitol Conference provides you, as an individual, an opportunity to join other individuals to speak out and make a difference in key issues. While the key issues are provided to you, maybe one day, as future leaders of our industry, we will have an opportunity to have an input on those key issues that we speak to Congress about. You never know. “One Industry. One Voice.” It was such an amazing opportunity and I am not 100% certain that I can put into words how it made me FEEL. Yes, feel. You’re in a group of industry professionals, some seasoned at this, some newbies, like yourself, and you just know that you’re currently in existence to not only learn something new and experience something new, but to make a...

Posted by on in Apartment Leasing
Most prospects in search of an apartment to rent consider honesty to be a given. They assume that those who are in the noble profession of leasing apartments have gotten where they are in life by being virtuous and responsible. Yet some property owners, managers and leasing agents think honesty is optional when trying to convert prospects into residents.   Lying might seem like an effective way to overcome objections and boost occupancy rates, but even one little white lie that you tell a prospect can prove devastating to your long-term goals. The lie deceives not only the person you’re telling the lie to, but it also deceives you by making it seem like you’re succeeding when you’re really just being set up for future failure. ...