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
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.
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
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.
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!
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.
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
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.
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.