I Can't Afford It! It's Too Expensive!

When the client seems to care about nothing but the price, try this technique.

Let’s say the client has told you that his budget is $850 per month, and the apartment he likes is $900.

Calculate the difference in price vs budget. ($50)
Then, divide the difference by a 30 day month. (50 divided by 30 = 1.67)
The client would only need pay $1.67 per day to get what they really wanted. That’s the equivalent of a pack of gum, or a cup of coffee.

$1.67 multiplied by a 7 day week = $11.69. At this point, explore ways in which the client will save money by living at your community. For example, perhaps they will no longer need a gym membership, saving at least $30 per month. Or, they might utilize your selection of first run movies and your theater, saving them a $10 movie ticket. Maybe their commute will be minimized saving $$$ in gas. Find a way for them to save $11 per week and you just found a way for them to afford it.

So, it would go something like this:
“Mr. Jones, I know this apartment is $50 above your budget. Broken down, that’s less than $1.70 per day to get what you really want. I know we can save you some money with the included fitness center, and you will be working substantially closer, which will save you money on gas, not to mention time. Plus, the apartment faces south, ensuring indirect sun, which will help your utility bills in the winter. This apartment comes out to about $11 per week more than what you wanted to pay, but all things considered, in the long run it may well cost you less. What do you think? Would you like to reserve it?”

Break it down, build the value, get the lease.