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Topic: How is your property/company paying leasing commissions in this high demand market?

Topic Author

Michelle Ellsworth

Karma:
Posts: 1

How is your property/company paying leasing commissions in this high demand market? I’ll post 10 units at 8:00 am and have 30 applications by 8:10 am! I have 5 leasing agents. Are you rotating? Team commissions? Our commissions are very generous so agents are logging on hourly to claim “house” applications. Would love to see how others are dealing with this great problem

Posted 2 years 6 months ago

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John Ridgway

Why do you have 5 leasing agents if the market demands only order takers? Cut staff to 2 as they are not leasing in the traditional since, merely processing paperwork.

Posted 2 years 6 months ago

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Michelle Ellsworth

1,000 units. The maintenance does majority of work after “order taken”! But we do get a lot of orders. Thinking double lines like Chick-fil-a

Posted 2 years 6 months ago

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John Ridgway

I meant order taker in the sense that demand is so high that leasing agents are merely taking orders for available units and not “selling” the product. If you raised rents then demand would slow and the sales team would have to sell. Better results for owner

Posted 2 years 6 months ago

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Carol Ann Cordell

Raise your rents a LOT

Posted 2 years 6 months ago

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Michelle Ellsworth

Agreed! We have. Florida has so little inventory. People are paying… we’re at the top of the market- great time to be an investor!

Posted 2 years 6 months ago

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Kathleen Jones

Split commission. Everyone works together.

Posted 2 years 6 months ago

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Kati Yahner

We have always done joint commission!

Posted 2 years 6 months ago

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Shanna Magnus

House commissions get split! Team works together to get them moved in

Posted 2 years 6 months ago

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Christopher Sotello

I always have “house” commissions go in rotation as a “free” lease. So if you have 5 agents, rotate one by one every time a free lease comes in so everyone gets a free one and nobody is upset.

Posted 2 years 6 months ago

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Johnny Xayamath

Track your unassigned / house apps every morning and have the morning opener to send an email to whole team, and split them evenly before even looking at the application status.

Make it fair and not allow “cherry picking” If they’re off they don’t get a slice!

Posted 2 years 6 months ago

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John Ridgway

Split commissions on new leases are like group projects in school. 1/3 of the team does 90% of the work while everyone receives same grade/compensation regardless of contribution. Renewal splits appropriate.

Posted 2 years 6 months ago

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Lindsay Tucker

House apps get rotated.

Posted 2 years 6 months ago

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Alicia Allen

I’ll let you know if I EVER have that problem lol but it’s unlikely we will experience 30 apps in 10 mins ever. I’d just enjoy the ride!

Posted 2 years 6 months ago

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Tina Tutah

House is rotated, walk ins are rotated. If you answered phone it was yours. Random On line leases rotated.

Posted 2 years 6 months ago

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Donna Hickey

Hi Michelle, I have a 1115 units and four leasing people -
We have a structured commissions and like you tons and tons of traffic.
I have three resident services that does sublets, transfers and NTV’s.
DM me for details

Posted 2 years 6 months ago

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Judy Newton

We pool. Eliminates the ugly.

Posted 2 years 6 months ago

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Donna Jean Alex

$100 per lease, if they get 10 or more in a month, then its $125 for all leases.

Posted 2 years 6 months ago

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Anonymous

At our larger sites, the leasing manager assigns those out. At our smaller sites, they rotate or it's the person that makes that first actual contact and sets the appointment.

Posted 2 years 6 months ago

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LISSA D TAYLOR

Commissions should always be split evenly, we all take part in the leasing process and with higher rents owners should increase commissions to reflect this.

Posted 2 years 6 months ago

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How is your property/company paying leasing commissions in this high demand market?