Posts Tagged ‘Multifamily’
Aparment Living: What About Generation X?
With the apartment industry still positively trending with record low vacancies and consistent rent growth, much of the focus and success has been contributed directly to Millennials and Baby Boomers. Though this is predominantly the case, not much seems to be said about the generation in between the two, the so-called Gen-Xers. Born between…
Read MoreCreating a Novel Incentive By Justin Coleman
I recently had the opportunity to read Think Like a Freak by Steven D. Levitt and Stephen J. Dubner, which was a great read and I recommend it to anyone in any industry. At its core, the book is meant to teach you how to think about and approach problems with a different attitude and…
Read MoreDon’t Lose Your Prospects: Applying Behavioral Economics to Leasing
Are leasing agents salespeople or customer service representatives? If you ask someone who knows the ins and outs of the industry they would say that truly great leasing agents are both. An excellent leasing professional needs exceptional sales skills to close the deal, but then be able to transition to a customer service representative who…
Read MoreWhy is the NBA Advertising on HGTV?
The last place you would expect to see a commercial for the National Basketball Association would be during Nick at Nite on Nickelodeon or during an episode of House Hunters on HGTV. However, according to Ad Age, the NBA will begin advertising on these television channels as part of a new strategy to attract more…
Read MoreGetting Comfortable with ‘No’
“Are you comfortable hearing the word ‘no’?” This is a question often asked during the leasing agent interview process and while most interviewees say they’re exceedingly comfortable with rejection, the reality is that few are. With the industry’s average closing ratio hovering around 30% one can only assume that leasing agents are in fact scared…
Read MoreHow to Handle Unhappy Residents
It can happen at a moment’s notice: Your leasing agent is sitting with a prospect, hopefully describing all the great benefits of living at your community, when an unhappy resident bursts into the leasing office to frantically express their distaste for some recent occurrence. This is no time to panic. While there may be no…
Read MoreUtilizing SWOT Analysis
In the fast-paced environment that is the multifamily industry, it can be easy to get caught up in the day-to-day activities of the office and forget the big picture. However, it’s important to take a step back once in a while to make sure your property is on the right track and making progress with…
Read MoreSmoke Free Community: Good or Bad Idea?
There are some standard questions you get while leasing in a community such as: What is the price? Are you pet friendly? What is the noise like? But one new question that is starting to become more and more common is “do you allow smoking?” For the longest time the answer to this question is…
Read MoreNo Upgrades? No Problem!
When your community isn’t upgrading and it seems like all your competitors are it can be easy to lose excitement about leasing. However, selling apartments that aren’t upgraded isn’t the kiss of death for your community. Here are some ways to combat the objection: You’ve already identified your competitor’s advantage so now you must find…
Read MoreSmall Leasing Tip to Overcome Big Objections By Justin Coleman
As a leasing agent, sometimes the most difficult task to accomplish is overcoming prospects’ objections. Leasing agents typically know exactly what features in their apartments will draw a negative comment, but not all agents will have a solution prepared when those objections are vocalized. Many leasing agents simply hope and pray a prospect does not bring…
Read More