Topic: Closing Ratio/Failing Criteria

Do applicants that fail criteria still count in your closing ratio? I'm thinking that if an applicant puts in an application and gives you a deposit or admin/app fee, leasing has done their part in closing someone.

On a side note, does anyone know how to find their closing ratio in OneSite?

Thanks!

In my experience different companies handle that situation differently. I personally wouldn't count that against a closing ratio because then you get leasing consultants who illegally prescreen, trying to figure out who might be able to get approved and who won't. (i.e., they look shady, I bet they can't get approved, so I'm going to steer them away).

You can find your closing ratio in Onesite by going to reports, prospect management, leasing summary, and then putting in the dates you want to cover and generating the report.

Thanks for the reply guys. After I looked, denied/cancelled applicants are counting against the closing ratio. I don't feel like this is the best reflection of what's going on. People fail, people are shopping for apartments for next year, people cancel their application fee because they don't want to pay a condition fee if they're approved with credit... etc. All those go against the closing ratio. The way it's setup, there's a lot of emphasis on just the right person walking in the door, and especially when you have two agents (who I've seen go on tours without logging traffic), it's just a numbers game of who gets who. A little concerning since mine was a little lower than I'd like, unless I manually do the math and plug back in the failed/cancelled applicants.

I think that they should be included in your closing ratio. Although in a perfect world everyone you get a deposit from would qualify, you are really at the mercy of your company's qualifying criteria. And, For various reasons, there isn't really a way to get the actual facts from a prospect during the tour. They could not be telling the complete truth about L/L references/evictions/pay/credit during the tour and closing process.
The Leasing persons main job is to close the sale. If the company's criteria ace them out by a lot or a little bit, it's not the Leasing person's fault.