What Do You Want? An Expert.

My son Sam has gorgeous, flaming red hair.  It is also thick and unruly, which results in a variety of bed-head that would be award-winning if there was such a contest. He likes it longer, and so do I.  

A few years back, when his hair became overly shaggy and I was having a difficult time deciphering him and the dog, I took him in to my local chain haircutting salon to fix. 

The woman put him in the chair, threw a cape on him, looked at me, and said, 

“What do you want?” 

“A haircut,” I replied.  

“No, do you want a 2, a 3, what do you want?”

“I’m not sure what you are saying.  I want it a little longer, but it needs to be a bit shorter than it is right now.”

“Then you want a 3.” 

“I don’t know.  What’s a 3?”

“Number 3 clippers. Is that what you want?”  

“I don’t know if I want that.  I want it longer in the back. It seems to work better when it is a little longer.”

“Then you want a scissors cut?”  

“I guess.  I am not a hair stylist so I am not sure I am understanding you.  I don’t want it shaved, if that’s what you mean.” 

“So you want a scissors cut.”  

“OK.  That means you don’t use a clippers?”

“Yeah.  Is that what you want?”

“I think so.”  

Wha, wha what?!!

What did I want?  

I wanted her to tell me what to do.  

I wanted her, as the expert, to help me manage his unruly head of hair.  I wanted her to tell me the best cut for him, and make suggestions that would enhance his look. I wanted her to help me figure it out. 

I wanted my son to walk out of the salon with a great haircut that fit his unique personality. 

I wanted her to enjoy her job, and make the mundane sort of fun.

I wanted her to care, and take the burden off me.  I wanted her to own the challenge.

That’s not what I got.

I assume this person was trained to be a hair stylist.  She is supposed to be the expert.  Why didn’t she ask me questions, and based on my answers, make an expert suggestion?  All I got, was “What do you want?”  Was she simply being lazy, or did she really expect me to know what a number 3 is?

Here’s the thing, it is so easy to make assumptions about individuals and assume they know more than they do.  You know it, so they should to.  For example,

We assume people know how to be good residents, and chastise them when they aren’t, but we never teach them what it means to be a good neighbor, or provide them with tools that help them become good residents. 

We assume people enter our offices and have done research on floorplans and know exactly what they want, based on their limited understanding of the product.  Instead of helping them discover, based on expertise, floorplans that will fit their lifestyle, we leave it up to them.  

The next time you are tempted to throw a challenge back at a client, and make the assumption all your training and expertise doesn’t really matter, think about your true role and responsibility.  As an expert,

• Listen, ask questions about lifestyle and needs and then, based on what you learn,  make an expert suggestion that solves the client’s lifestyle problem. 
• Have some fun and be confident in your role as expert. 
• Be an expert.  Take the time to prepare and make sure you know more than your competitors do. 
• Remember, when a client walks through your door and presents a problem, whether that be a stopped-up sink or an apartment need, that’s all they should have to do.  You own it from there.  You are the expert.  You are competent and confident and you love helping people get what they need and want.  

Last, but certainly not least, deliver, and remember how much you add to overall value perception and satisfaction.

Say Whatt?!!

The other day, I overheard an apartment manager say, “Have you read your lease?” in answer to what, apparently, was a ridiculous request, and I thought, “This is not going to end well for the resident.  Manager wins.”

Then I thought of some of the other impulsive, condescending and “shut-em down” statements routinely used to keep residents in line and get them to go away.

“Your lease clearly states…”

“It’s not our policy.”

And my favorite…

“If I did it for you, I would have to do it for everyone, or I would be violating Fair Housing.” (Admit it, you joined me in reciting that one as you read it, didn’t you?)

What?  Violating Fair Housing?  Really?

I cannot think of one way any of these statements could leave a positive impact or increase resident value perception.  Please, if anyone does, do not hesitate to share. 

But wait, there’s more.

“I’m sorry but,”  (you know something bad is coming the minute they say, “but”).

“If it were up to me, I would do it, but I could lose my job.”

And a maintenance favorite…

“Yeah, they’re all like that, and I told them we needed to replace them but it wasn’t in the budget.”

When your words and tone can be translated to, “You should know better,” or “I’m really not sorry, I’m just saying that to soften what I am about to tell you” or “This place sucks and it isn’t run well because the company is too cheap to fix things”, or “I am afraid to make a decision, so I am going to hide behind the Fair Housing poster now”, understand it will likely not end positively. 

Why do we do say these things?  I have a couple of theories.

1.     It’s easy, and humans are inherently lazy.  It takes effort to really listen and try to understand another’s perspective. Easier to prove them wrong and send them away.

2.     We don’t know any better.  You heard your manager say it, so you say it too.

3.     We don’t know what else to say, because we believe the only way to end the discussion is to have won.

4.     Solving problems is hard and we are afraid we might indeed violate Fair Housing if we make an allowance.

5.     Jaded Pessimism.  Give ‘em an inch and they’ll take a mile.

6.     Black or white is the only way.  There is no gray, or meeting halfway.

At this point you may be thinking, “Lori, I get the answers aren’t the best, so give me a better line.”

Here’s the problem.  There is no “pat” answer, no wonderful line that will shut people down and leave them with a smile on their face.

But there are things you can do.

Let’s say you have a resident who thinks pet fees are unfair and he shouldn’t have to pay them.

1. See their perspective and agree, at least partially.

"I can see why this doesn't seem right to you.  You are a responsible dog owner."

2. Offer an alternative perspective. (This is where the homework comes in).

Ask yourself, why?  Why do you have pet fees in the first place?  Well, we know that pets leave waste, some damage apartments, they leave dander which could affect other potential residents and they cause additional challenges to residents in the form of barking, etc .  We also know some people simply don't like pets and don't want anything to do with them.

Remember, we do not place this answer to the resident in this context, nor do we give the standard spiel that doesn't really answer the objection.

3. Re-context.  Keep it truthful and sincere.  This is a dialogue and you are not in-it-to-win-it. This is about having a conversation with the individual.

So, it might go something like this:

"I can see why this doesn't seem right to you.  You are a responsible dog owner."

"Please understand, we choose to be pet friendly community even though many owners are not as responsible.  Pets do cause wear and tear in the form of waste, dander, damage and, sometimes, as a nuisance to other neighbors who don't have pets.  For this reason, we charge pet owners a pet fee, as it simply wouldn't be right or fair to pass on those costs to residents who choose not to have them."

Then they will likely say, "My pet never bothers anyone."

To which you might say, "Likely not, but have you thought about something as simple as your dog barking in the morning to wake you?  I'm not saying yours does, but lots of dogs do.  If the dog wakes you by barking, it might very well wake the guy above you every single day.  That's something they tolerate, and they may choose not to stay at the end of their lease term if it's bad enough. Of course, that is a hypothetical situation, but pets do impact the overall community, and while we are proud to say we are pet friendly, we have to ensure those that don't like pets never have to step in waste, or have allergies act up from an apartment that had pets in it.  All of that comes at a cost.   That's why we charge a pet fee."

To which he may say, "Well I still don't think it’s fair.  My pet never does anything wrong."

"Understandable. And you do have choices.  I will tell you that our pet fees are on the low end of the spectrum in comparison to our competitors, and we work hard to ensure we stay competitive in the market.  It's hard, because we love our pets, but they sure can be a bit costly.  I hope I have provided you a better understanding as to why we charge the fee.  If you would like, you are more than welcome to pay your pet fees for the year all at once, then you don't have to hassle with it for the rest of the year.  Is this something you would like to consider?"

Last, if you believe your pet fees are completely outrageous…find another way.  Perhaps you can raise rent or bundle it.  Maybe after a certain length of residency with no issues, the pet fee is reduced. Do a competitive analysis.  Don't just assume because it’s been the policy, it has to forever be the policy.  Find a way to change it up and make it more consumer-friendly.

Look to find solutions and know there is no standard answer  - it’s all about preparation, knowing your market, understanding why, and then delivering that message sincerely and truthfully.  Get with your team this week and practice this exercise with a request or objection you find yourself giving a “half baked” answer to.  Think about the words you say, and what they convey.  Look to find a better way. 

Every word counts.

Lori

Get Ready. Get Set.

I was asked to write a guest blog for The Apartment All Stars this week on the power of preparation. You can find it here.

Also, I am conducting a Webinar Wednesday, March 21st in conjunction with Multifamily Insiders and The Apartment All Stars.

Before you Say Hello, Get Prepared and Lease More Apartments is a must for any leasing professional that wants to take their game to the next level.

You can register here...

Hope to see you there!

Beat the Clock

I read with interest an article in the Wall Street Journal this morning concerning people’s perceived wait times in the retail environment. It seems guru Paco Underhill timed shoppers in line with a stopwatch to determine how real wait times compared with how long shoppers felt they had waited.

Up to about two to three minutes, the perception of the wait was pretty accurate, but after three minutes, the perceived wait time multiplied with each passing minute. In other words, if a person actually waited 5 minutes, their perception was they had waited 10. Interesting.

Though we technically don’t make people wait in line, many times, they do have to wait. Based on this research, the longer they wait, the even greater time they will have perceived they waited. Heck, I have witnessed clients not even be greeted in 3 minutes.

What’s a savvy leasing professional to do?

First, understand that while lease paperwork needs to be finished, every second you spend focusing on that, rather than the customer waiting in the lobby, negatively impacts perception.

The paperwork will wait. You are paid to converse with people and lease apartments. Get to it.

Second, reality dictates no matter how good you are, sometimes people will have to wait. Provide something for them to do. Show a movie in your clubhouse, have current newspapers and periodicals available, (make sure there is something for every interest), and give your clients an indication of exactly how long the wait will be. Make it their choice by making them feel comfortable, but also offering an alternative appointment time. They will let you know which they prefer. Offer a beverage, or better yet, provide a Starbucks card and send them off for coffee, assuring you will be ready for them when they get back.

Most important, (this one is for managers and bookkeepers and individuals that do not perceive themselves as leasing professionals), never ever ever pass off a client with the, “The leasing professional is out right now, have a seat and she will be with you in a moment” line. When is the last time you were OK with being “passed off”. The people in front of you are most important and there isn’t a faster way to turn somebody off than to throw that line at them and return to your desk to do the really important work.

Three minutes. After that, the perceived wait doubles with every minute. Don’t make them wait.

Back Up the Train

I'm back. No excuses, just an explanation. Basically, I had nothing to say that I felt mattered. And my cardinal rule is...no crap. So, I didn't write for almost 2 months. Nothing at all. I found it refreshing. Then, today, I found something that needed to be said.

As is my routine, I was reading my Brains on Fire blog, (best blog ever), and came across Eric Dodd's post that essentially took all the concepts going on in my head and summarized them in less than 55 words -

It was a good reminder that there are an increasing number of amazing tools at our disposal, and an increased responsibility for us to learn to use them, but that tools will never fully replace sitting down with a customer and asking them how your company can make a positive difference in their life.

Exactly. It's time to back up the train, people. Have we become so enamored with the tools and the toys, (and the process, rather than the outcome), that we've forgotten the impact of simply talking to a resident, face-to-face?

Let me tell you, our people working on site with the residents haven't. But they feel obligated to the process, and that is impacting the outcome.

The Power of a Simple Action

While waiting for my plane on Southwest the other day, a general ruckus caused me to look up from my work, and take note of a situation unfolding right in front of me. The ruckus was coming from a woman in a wheelchair who was clearly in distress. From her tone, it was obvious she was in one of those situations where you get so mad you cry. I can empathize with that, as I have been there.

Anyway, why she was mad, (something about the wheelchair attendant not letting her stop to eat something), was not the issue. She was just mad. A supervisor had approached and was talking to her, with little success - she just yelled louder about how upset she was between sobs, and what he did next reaffirmed everything I have been teaching about the power of body language in conveying meaning - he simply knelt down on one knee, looked her in the eye and lightly touched her arm. She immediately calmed down, stopped yelling and started listening. He promised he would take care of her, and the situation, and as she was wheeled away, she reached in his direction as if to touch him, and said, “Thank you.”

Just a friendly reminder...it’s not what you say, it’s what you convey. He cared, and she knew it. Empathy goes a long way toward making a wrong a right. Actions truly do speak louder than words. You choose.

Can You Dig It?

Since three in four Americans show an interest in gardening today, it seems fitting to build a community garden for resident's personal and gastric enjoyment. Before you say, "Lori, we love this idea, but simply don't have the space to create a garden area - guess we'll have to pass.," consider these really cool and innovative products that will allow your residents to garden to their heart's content…in any kind of environment.

If you don't have the space, but the residents have patios, or you have common areas that could use a little flower power, Urban Garden offers a pocket garden system made from recycled bottles for $29.99! It makes a perfect move in gift for the gardener, and imagine how these could beautify common area spaces! If your budget is tight, there's a 2-pocket flower box for $15.99. Both are lightweight and fold for easy storage.

For that ugly old wall you just don't know what to do with, Plants On Walls living wall kit will allow you to create gardens where you never thought possible. A 32' by 51' wall kit starts at $528, and can be rearranged as the mood fits.

If character is your calling, Springwise reported this week on a spiral tube shaped device called the Whirligro. So chic, and so unique! The Whirligro can be used in gardens, on balconies, decking, flatroofs or anywhere. The plants grow in compost/soil in durable growing tubes. Love it!



So, there you go - get your gardening gloves on and get busy.
Anybody doing interesting things with you community gardening efforts? Don't hesitate to share.

Give an Old Sales Question a New Twist

Sometimes it’s good to shake up old norms and try something new.

“Where else have you looked?” or “Where are you planning on looking?” are questions commonly utilized as a means of determining which communities a client may be comparing ours to. They're good questions that will provide important insight...if apartments are all the client is considering. A better one might be, “What other options are you considering?”

Iconoculture reports on a post in Economist’s Outlook this week the share of adults under 35 living at home with Mom and Dad, especially among those age 25-34, is at the highest level since 1981, (a very long time ago - I know), at over 30%. The historical average is under 28%.

Since there are over 70 million young adults age 18 to 34 living in the US, that means somewhere around 21 million young people are living at home. Who knows how many more are considering the option, as it becomes more and more socially acceptable to do so, even into one’s 30‘s.

Think about it - options might include Mom and Dad’s basement, moving in with a girlfriend, or staying put. If you are competing with Mom and Dad’s basement, low rent and home cooking, you’ll want to build value in your community by highlighting the freedom and independence your client will enjoy.

For those that are already there, it seems likely that Junior may be getting tired of living in the basement, and even likelier that Mom and Dad may be getting tired of Junior. Maybe not, but the lifestyle benefits renting offers to both Junior, (and Mom and Dad), might be just the ticket.

On the flip-side, if your demographic is primarily 18 to 34, understand that this option is one your residents may be considering rather than renewing their lease. As it becomes increasingly socially acceptable to return to the nest for an extended period of time, and generally cost effective to do so, you may essentially find yourself competing with Mom and Dad’s basement for the renewal. Increased focus on freedom and the lifestyle opportunities renting offers will be critical to keeping this demographic.

Before selling (or reselling) anything, find out who you are really competing with - what other options are being considered?

Say It and Believe

It's no secret that internal dialogue often influences the way people motivate and shape their behavior. Years back, I was inspired by a motivational speaker that encouraged self-affirmations on a daily basis. “I like myself” he encouraged us to say in the mirror, “I’m a GREAT salesperson!” So I did. And every time I did, I found myself chuckling. It made me feel, well, sort of foolish, dopey and, yes I will say it, good all at the same time. As a young trainer, I encouraged my pupils to do the same. I received relentless flack, from video spoofs to teasing, to an endless variety of pranks targeting the “I like myself!” affirmation. For each I laughed and took it all in stride, because, frankly, it is sort of funny to self proclaim how great you are.

The thing is, it works. Now I’m not saying that if you say “I am going to have a million dollars” every day for a year you will. You might, but the real point of self-affirmations (from my very un-clinical perspective) is how they make you feel. Nobody doubts that if I internally declare myself a bad person on a daily basis, that sooner or later I will most likely start to believe it. So why not the other way?

My former colleague Stasia Vishnevsky sent me this video yesterday, and all I have to say is, this is the kind of person I want on my team. When you yell, “Can we do it?” you can bet she is going to yell back, “Yes we can!”

Enjoy. Then get in front of the mirror and say a little something nice to yourself. If nothing else, you’ll get a good chuckle.

Goals that Get Them There

We all know that goals should not be determined for salespeople, (trans: leasing professionals), rather, with them. If you set the goal, it is your goal, not theirs. The question is, how do you set a goal that isn't a no-brainer, yet not so aggressive it is nearly impossible to meet?

When establishing goals with your leasing professional, ask this first -

“What number do you know for sure you can hit?” Then wait. The leasing professional will respond with a number. Here is the key. They will most likely respond lower than what they know they can do. It’s human nature. They want to hit the goal.

In this case, let’s say they say “9 leases”. Since you know this is probably a little less than what you know can be accomplished, and dependent on community variables, you might add 2 and then throw on 2 more for a total of 13.

Then say, “Since we know you can hit 9, how does 13 sound for a goal? If you hit 13, your bonus will be xxx over what if would be at 9. Do you think you can do it?”

If they say “yes”, it is their goal and they own it. If they say “yes with conditions”, hear the conditions, and, if they are reasonable, summarize and take it home by saying something like, “If I am hearing your correctly, you are saying that as long as we have ready product to show, and something available to lease, you feel confident you can hit 13 this month. If I make sure that happens, can we agree to 13? Excellent.”

Remember, effective sales is not just about the salesperson's performance, external forces can impact success. Deliver on your end, and hold your salespeople accountable to deliver on theirs.

How Much Is Too Much?

Last summer, I ordered Omaha Steaks for my dad, (Sales Guy Extraordinaire), for Father’s day. He loved it, and if I do say so myself, it was an excellent gift, the kind that keeps giving for a while. When I ordered, I must have inadvertently missed the uncheck button to receive “future offers and updates” - you all know what I am talking about here.

Within days, they started coming...and have never stopped. Since November, I have tried to save almost every offer received. (There are so many, I have a problem keeping it all organized). Omaha Steaks has worked very hard to stay in front of me. A little too hard. I ordered their product once, in June, and have not established myself as a regular. At this point, presumably due to the holiday season, I am receiving, on average, at least one email per day, up from the average of one every three days in September, October and November. (There is a noticeable gap in October - I may have deleted them, and I did go through an unsubscribe phase about that time...but don’t want to proclaim, if I’m not sure I did.)

Anyway, I get an awful lot of “buy meat” mail. Trouble is, the more they “get in my face”, the more distasteful steak has become to me. It’s just too much. I’m tired of seeing my daily “Act now before it’s too late!” promotion. I have no sense of urgency to buy, because I am pretty sure I’ll have an equally impressive offer in my box tomorrow. Have they no other customers? Why won’t they give it a rest? To stay top of mind with me doesn’t mean you have to send me a new email every single day.

Where’s the mail that asks, “Have you been seeing too much of us? Should we back off a bit?” That’s the one I would reply to. I have no objection to receiving a monthly promotion from Omaha Steaks. I like their product. It is not, however my priority or my life.

The same holds true for follow up. There is a fine line between obnoxious and committed care on the part of the leasing professional. When we lose sight of the client and concern ourselves more with “getting the sale”, is true intention revealed to the customer and serving as a turn-off to the product?

The answer, of course is letting the customer, as much as possible, decide and control their experience. That’s hard to deliver when you’re being evaluated based on parameters and specific follow up metrics; contact within 24 hours, within 48 hours phone call, etc.

How much is too much? And how do we define that? How do we provide parameters while still understanding there is no one path to the sale? I don’t think it is enough to say, “I keep calling or emailing until they tell me to stop.” I am going to tell Omaha Steaks to stop, but the damage has already been done. Once viewed as a special treat, premium product, I now simply see another blue light special. Lots of caps, lots of exclamation points, lots of “only 10 minutes left” behavior. It all seems a bit desperate.

What do you think?

Awkward (yet unfamiliarly comfortable)

If you know me or work with me you know that email and texting are my preferred communication tethers. 90% chance if we do talk on the phone it will be by cell phone as I'm never, ever at the small round table (a.k.a. desk) in my. Voice mail? Hah. My inability to regularly check, let alone reply to voice mail messages is legendarily rude. Twitter? Facebook? Don't be stupid. Text or email me.

And them Samuel J. Lopez came into my life. I bought a new suit from Sam at Nordstrom some months ago. It was fine, great service, great communication as expected blah blah blah. But the awkward part came later when Sam sent me a handwritten thank you note and his business card. Again please ... h-a-n-d-w-r-i-t-t-e-n thank you note (printed on embossed paper, metallic ink and real ball point pen on the inside). The business card was also impressive. No digitally quick-printed crappy temporary card but a foil stamped legit calling card with rounded corners.

I scanned the thank you note, then went to add the card to my binder-clipped stack of to-be-entered-into-my-address-book (maybe) cards when to my horror, I saw there was no email address. Only a phone number. A single phone number with Sam's extension. I paused, "what the hell am I going to do with this?" Bottleneck in my day.

I knew Sam had entered my email address into Nordstrom's CRM system, evidenced by the weekly ads in my inbox. But Sam himself has only communicated old school. Once by phone (to follow up two months later to see how the suit was fitting and if I needed any additional complimentary alterations) and twice by snail mail (aforementioned thank you card and a hand written invitation to a private rack sale).

I kept the business card. I don't plan on calling Sam but after the initial shock of the card's lack of email address, Twitter logo, Facebook logo, LinkedIn logo et al, it eventually gave me sense of calm and put me in control of this seemingly unimportant customer service relationship. Sam hasn't added a subconscious straw to my neurotic camel's back with the feeling he will ever email me something I don't want. The genuine nature of the card's contents doesn't carry any urgency and will never make me feel like I have to DO something.

As marketers, we strive to create these exact feelings and we desperately try to create similar interactions with every touchpoint. And how many people do you know that are secure enough not to tip the design balance of their business cards by junking it up with every keeping-up-with-Jones form of contact available in today's pay attention to me business environment?

Sam knows he doesn't have to do this. How refreshingly awkward.

Involving Residents In Your Worth Cause

Many companies contribute to charitable causes and the greater good, and some (wisely) share their philanthropic endeavors with their clients. But why stop there?

In The Buying Brain, Secrets for Selling to the Subconscious Mind, (yes I did like this book as this is my second post referencing it ), Dr. A.K. Pradeep notes that coupons that include an act of charity can produce a significant rise in Purchase Intent and self worth. In one study, consumers were asked to choose one of four deserving causes to receive a percentage of what they spent. This simple gesture resulted in a huge increase in emotional engagement and higher Deep Subconscious response scores for words relating to the “pleasure” or “satisfaction” associated with the shopping experience.

Contributing to charitable causes in a way that includes residents is an easily adaptable concept at the on-site level. For example, perhaps a community selects three charities, (since the business is multifamily, possibilities might include Habitat for Humanity, a local homeless or transitional shelter and other causes that relate to housing or “get back on your feet” support - make sure to run your selections by HR), and determines a percentage of the first month of resident’s rent that will be donated to the selected charity. When the resident renews their lease, (or signs the initial lease), they are asked to select which organization they would like the money to go to - they get to control it. If they say, “None - can you just reduce my rent?” (which they most likely won’t if presented effectively), you can politely decline and re-emphasize that the rent is the rent, however XYZ Apartments is committed to donating a percentage of that rent to a charitable organization that helps those less fortunate and we let our residents choose which of the three charities they would like it contributed to.

A program like this is broad enough to encompass point of initial sale and resale (renewal) strategies. Community charitable donations might be tracked on the website, Facebook page, clubhouse visuals, etc. Even better, expand the program and provide opportunities for residents to volunteer at these causes. The possibilities are endless...and all good.

What does your company or community do for the greater good? Do you let your residents know? Do you involve them in the process?

Are You a Bust With Boomers?

Is Your Marketing a Bust With Boomers?

In “The Buying Brain - Secrets for Selling to the Subconscious Mind” Dr. A.K. Pradeep cites a study conducted by Dr. Adam Gazzaley that determined the ability for one’s mind to suppress distractions declines with age. People over 60 aren’t necessarily more forgetful; rather, they are more overwhelmed by distraction. Hmmm…

Based on this finding, the book suggests easy strategies for marketing products to older adults. First and foremost, keep the message obvious and direct and copy and images clean and uncluttered. Let the message “breathe" with some white space around it, and avoid the impulse to load up messages with sounds, running screens, and quick-time animations. Not only are distractions detracting from your message to seniors, most of that content is not even making it past the brain “filters’ of Boomer consumers. In other words, what teens will enjoy, Grandma won’t.

In addition, Boomers like positive messaging - wit and wisdom speak their language, and their broader attention spans make them more comfortable with knowing more than the headline and will recall and puut into context messaging that honors their cognitive abilities and hard-won experience.

Boomers control 77% of all financial assets in the United States, and they’re getting older every day.

Is your message getting through to them?

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.

That's More Like It!

I received another survey this morning, from Trendwatching, that is far more my style than the one I blogged about last week. (see below)

This survey was simple, easy and allowed me to provide some honest feedback, all with a simple email response.

Dear Lori,

We hope you enjoyed our latest briefing on MASS MINGLING. As we’re gearing up to bring you even more content and services this September, this is an excellent time to let us know what else you’d want from us.

To keep things simple, just reply to this email, answering the following:

1. What do you like about our monthly Trend Briefings? And what could we do better? [your answer]


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3. What other content / services would you be interested in? Trend Seminars? Company presentations? Consulting? Networking? Anything goes!
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Thank you so much, we’ll do our utmost best to incorporate your suggestions,

Warmest,

Tim Pitts
Subscriber & Client Services
 trendwatching.com

You want my feedback? Just ask for it. What’s at the top of my mind regarding your service or product is most likely what is important for you to hear.

Witness the Start of a Leasing Revolution - what a tool!

Live from the AIM Conference, the visionaries at Realty DataTrust have done it again - they’ve developed a product that any smart salesperson will lust after, and any smart company will quickly implement to gain a competitive advantage over their competition. Gather round...gather round...this concept is so fresh, it isn’t even available, but you’ll definitely want to be in line to snap it up as soon as it is.

By now, you have all heard about or seen the new IPad. Pretty cool concept. Tablet size. Multifunctional. Read the paper without squinting, you get my drift. Mike Mueller, apartment visionary that he is, saw the IPad, and its potential as a leasing tool, and created a Leasing Tablet specifically for the device. My head about exploded when I saw it. Where do I begin? Let’s say you’re in an apartment and the client says, “Is the school nearby?” You pull out your leasing tablet, hit Maps and take a look at the school (and the distance from),in whatever format (street, satellite, whatever) you would like. Then, you hit Floor plans to share the slight variance in the apartment layout your client will be getting. And that is just the beginning. Take your typical Saturday afternoon. You’re really busy and people are waiting. Instead of sending them away, or making them stare at the walls for 30 minutes, you hand them an IPad and say, “Please enjoy - surf the web, read the Wall Street Journal or hit Leasing Tablet and take a look at floor plan and pricing options.” You may find that by the time you get back, they’ve gone ahead and leased an apartment. It’s that cool.

Now, for the staunch curmudgeons out there thinking, ‘’Good idea, except they will all walk out the door”, they’re working on that - which is one of the reasons it’s not available yet. This application is going to seriously change the way we lease apartments. You’ve been hearing me pontificate for the last few years that we need to make it about the client, not about us, and so many times, people come in further along in the buying cycle than we feel comfortable with, yet we make them go back to square one, because that’s just the way we do it. (Plus, if we don’t hit all the bases we might get a bad shopping report, and then we could lose our jobs.) This changes all of that. I find it profound. I want one and I want to lease apartments with it. It’s a leasing notebook, 3.0 style. Fabulous. I can’t wait to see it in action. Get your lawn chair and get in line now.

Sales Guy Extraordinaire Strikes Again

For the masses that regularly read my posts, you’ll remember that I have dubbed my dad Sales Guy Extraordinaire, and once again, he has lived up to the expectation.

During a recent visit, Dad took a phone call from a woman he later explained was a former customer who had purchased carpet some years back, when he worked for a company that was no longer in business. Seems the woman had a problem with her carpet, didn’t know who to talk to about it, so tracked Dad down and called him. He told her he would stop by and take a look.

Wha-wha-what? Really? Dad didn’t own the former company, and he most likely couldn’t provide much more than a little guidance and direction. Likely, the carpet would not need to be replaced. so his visit wouldn’t generate a sale. He could easily have referred her to another specialist, or explained that he couldn’t really help her. But that’s not what a sales guy extraordinaire would do, and that’s not what Dad did. When I asked him why, he looked a little sheepish and tried to play it down, saying, “She’s an older woman, and it will only take a few minutes to take a look. If I can help her out, that will be enough.”

When is the last time you simply helped somebody out, no strings attached? If you have a client and have nothing to lease, do you simply wave them off with a, “You might want to try down the street”, or do you make the call yourself, and get involved in the solution, rather than dismissing the problem? You know what Sales Guy Extraordinaire would do. He would get busy and actively find an answer.

The best salespeople are in it, not just for the money, but for the people they can help. By assisting in finding the solution, they build trust and referrals, and go home every day confident they have made a difference. Zig Ziglar used to say, “Help enough people get what they want, and you’ll get everything you want.”

That’s being extraordinary.

Intent vs Reality - What are You Saying?

I always learn something when shopping properties.
Sometimes I discover a new technique or have the opportunity to see an expert in action.
This week, I learned there is a big disparity between intent and reality.

Visit 1 - Leasing professional shows me a lovely property, but keeps telling me to “Go visit the website” for the daily prices. This is said repeatedly, even though I have indicated that I am looking for my mother, she has just put her home on the market, and isn’t even convinced she wants an apartment. There is no attempt to have Mom come in, experience the place, etc.. (although when I suggest it, they say, “Sure! We’d love to show her around”. No “I will take care of you, and make sure your mother is happy” moment. Just, “Go visit the website for further information. Your quote will be good for 72 hours”. Why would I rent an apartment online at this point? My mom hasn’t even seen it.

Intent: “I am being helpful and giving you resources.”
Reality: “In this market, all anybody cares about is the price, and I know that. So make sure you see the prices and are OK with them before you waste my time again. Come on back when you really ready to buy.”

Visit 2 - While in the golf cart, the bubbly leasing professional says, “I need to tell you about four things, because “they” will be emailing you to make sure I covered them”. She then goes on to tell me about her guarantees and that part of Mom’s rent will be put aside for a home down payment. (Mom is selling her house, remember. She doesn’t want to own anymore.) When I ask, “What do you get for telling me about all this?” she replies, “I get to keep my job.”
It gets better. As we leave the apartment, she says, “I know you’re not ready yet, but I have to ask, would you like to leave a deposit?” I just look at her.

Intent: I might get shopped and will get in big trouble if I don’t hit all the bases, so I am going to say things that you and I know are completely irrelevant to your buying experience and I will cushion the blow by removing myself from the equation. This way everybody is happy.”
Reality: I just threw my company under the bus because they have made ridiculous mandates that you and I both know are irrelevant to your needs. Frankly, I resent it. I will do it, but I will let the client know it’s really not me that is talking, it’s the corporate heads. After all, I need to keep my job, but I also need to lease apartments.”

Visit 3 - I dub her the “speed talker” because I only understand every 3rd word. (Remember, Mom has just put her house on the market, and isn’t with me), yet I am told about how I can’t use the double doors in the fitness center because they didn’t work, that I am to come in and out a specific door, and pretty much hear every rule and regulation as part of the sales presentation. And this is relevant to me, how?

Intent: I am funny and witty and keep the tour going nicely.
Reality: I have been here a long time and have my shtick is just right and it ensures somebody is talking. It also ensures I do not have to think.

You know I can’t finish there...

If you are a corporate executive, or anyone that creates policy and guideline, understand the more you force people to “follow the script”, the greater the chance an irrelevant presentation will be delivered. Seth Godin wrote in his blog last week about compliance and innovation. The more we demand people comply, “i.e., You will tell each client about each of our corporate programs”, the less innovative they will become. There is nothing wrong with mentioning company and the quality professed. Nor is there anything wrong with talking about company programs - as long as the client listening cares. Start placing more focus on the result rather than the process. Rather than mandating, focus on hiring the right talent, and teach technique in building trust, listening skills and following through.

Leasing professionals - you know how much I think of and value your talents and profession. You are my peeps. That said, it is time you wake up and step up to a higher level game. First, never throw your company under the bus. It makes you look bad. Start listening to what your clients are telling you and be responsible to help them get what they want. Be accountable to always, always, seeing it through. Think about what you are saying - does it matter? Is it relevant? If you find yourself saying the same exact thing at the same exact crack in the sidewalk during every presentation, change it up! Take a different path, try a new technique, have more fun. Understand the pitfalls and consciously work to avoid them. If you have a challenge with the criteria for shopping reports, then take the initiative! Create one that you think is fair, and be able to validate your reasoning. Then get it in front of somebody that can influence the decision. Stop sitting on your hands and work to control your destiny, if you value innovation in your presentations.

Top Gripes

A recent Consumer Reports article on what bugs America most, reveals that Hidden fees and Not getting a human on the phone are the top gripes today. The survey of 1,125 Americans, asked respondents to score gripes on a 1 to 10 scale, 1 meaning "does not annoy you at all", and 10 meaning "it annoys you tremendously".

Hidden fees scored an average of 8.9, and Not getting a human on the phone 8.6.
In other words, both really tick people off.

Yet, on any given day, we can call a community (or company, suppliers this is for you too), and get a long winded answering machine that is anything but human, then be presented with things like "non refundable lease processing fees" that really don't clearly explain what exactly they pay for.

In my consulting practice, I see professionals spinning their wheels and lamenting over lack of traffic, yet disregarding easy fixes right in front of them.

Utilize a service like Level One as backup to ensure calls do not got to voice mail - that a live human always answers the phone.

Simplify your fees. Consider what it's worth - in an economy such as ours we can't afford the perception we are gouging the client. When people are worried about every penny, they will not overlook the "fees" and will assume you are trying to take advantage of them. There is a general distrust of business today. Don't affirm it. Find another way. Either incorporate it into the rent or, if vacancy warrants, stop charging the fee - don't waive it, as it is still, to the consumer, a "shady" fee.

Get back to the basics. Are clients easily able to reach you? Are you fair in your practices? Can you logically explain all your fees and specifically why you charge them?

Then ask your residents a really tough question: "What really annoys you about doing business with us?" You might find it's an easy fix. Or, maybe not. Either way, you need to know.