Yes, I know this is a market unlike anything we've ever seen before. And I know many of our markets are suffering from occupancy issues. But please , do me a favor and stop harassing your leasing professionals to push hard for the close right now.
Don't get me wrong; I believe that everyone should always be asked for the sale. But I do think that pressuring people in our current environment is wrong. And I think it can send them in the opposite direction - in a hurry.
According to data from my friends at Lead Tracking Solutions, the average rental prospect is making 4.5 'connections' with a property before leasing from them. ('Connection' here is viewed as a visit, an email or a phone call). So let's say that Joe Prospect sees an advertisement online and calls the property first (over 80% of all first contacts from an internet sourced renter are via phone). Then, he visits the property. He's still got 2.5 contacts to make before he decides to rent based upon the national average.
I know this statistic may not fit the scenario at your property. Yours might be the exception to the rule and you may be able to close on the first or second contact. But let's cut our leasing teams a little slack here and instead of pushing them so hard to close, let's offer them assistance to get the visitors closed by that fourth contact.
What are some of the things YOU can be doing to help your teams lease more apartments? What better place to start a 'success list' than here? Please give me your input. Let's see what we can come up with!
BTW, if you like what I post here, feel free to stop by my blog, www.ApartmentMarketingBlog.com where I try to post just about every day.