Prior to picking up the phone, a prospect has most likely researched your community online and has determined it is a viable option for their next apartment home.  So why do some leasing agents struggle to convert over 50% of their phone calls into walk-ins?   A decade ago, people drove past your property and called the number on the sign in order to learn some important details about the community.  But when the phone rings today, 90% of your prospects are simply confirming a rental rate, availability and making sure that you are open.  If you are not convincing these prospects to walk-in the door, you are doing something wrong.   Here are 5 keys to converting a phone call into a walk-in.

1. Bring the enthusiasm:  In sales, there is NOTHING more important than being excited about your product.  Smile, be enthusiastic and let the tone of your voice convey the pride you have in your community.  Act as if your property is the PERFECT place for your prospect to live and that they will NOT find a better value anywhere else in town.
2. Listen:  Most salespeople are known for having the gift of gab.  But you should only be speaking 25% of the time.  The rest of the time, you should be asking questions about your prospect’s lifestyle and listening to their answers.  People buy from someone they like, and people like someone who listens.
3. Get their information:  This is more than just a phone number and move-in date.  Get their pet’s name, what they do at their job, their favorite football team and where their spouse works.  There is a direct correlation with the amount of information written on a guest card and the number of leases you can secure.  The more you know about your prospect, the better chance you have of leasing to them
4. Sell the property:  Have you ever described your favorite restaurant to someone?  Have you ever told them about an awesome vacation you took?  The detail and enthusiasm in which you described these places should match the way you describe your property to a prospect.  Don’t just list the amenities, but tell them how they are going to feel lounging around the pool and meeting their neighbors on a sunny Saturday afternoon.
5. Build Rapport:  The number one reason why someone moved in 2012 was not price, job transfer or the economy.  It was because they were not satisfied with management or maintenance at their former community.  Find a way to establish rapport with your prospect and they will associate their connection with you to the way they will be treated if they become a resident of your community.  Find a connection, a similar hobby, a favorite band or just a way to make them laugh.  If you connect with your prospect on the phone, they WILL come see your community before choosing to lease somewhere else.

What is the first thing that your prospects ask on the phone when they call your property? Chances are it is “how much are your apartments?”

I would venture to guess that over 80% of apartment inquiries start with that question. However, a majority of these same prospects have most likely searched for your property online, viewed your website or ILS ad and determined the price prior to calling. So why would they even bother to ask for pricing if they already know the answer? I have come up with 2 conclusions to this paradox.

1. They are looking for a move-in special

2. They have been conditioned by our industry to only ask for pricing since that is normally the only information given to the prospect during the call. In other words, when they call your competitors they are not getting sold on the value, amenities or sense of community at a property… only the price.

Leasing 101 tip: “People decide to lease based on value, and the rapport they develop with the Leasing Specialists.”

Price has almost nothing to do with your ability to lease.  When we deflect the price question and focus on value selling and rapport building, we increase our chances of closing. Prospects ask for the price because they don’t know what else to ask for on the call. The truth is that most prospects already know the price, which makes sidestepping or deflecting the price question easier than you think.

Here are 3 steps to deflecting the price question on your phone calls.

1. Ask them “how soon do you need an apartment?” You should take control of the conversation and you should be the one asking the questions. You will often find that as you begin discussing the details of their lifestyle and move, they will become distracted and never ask for the price again until they come in to tour.

2. Ask them “what sort of price range are you looking for?” If they say a price that is within 20% of your range, then they are a qualified prospect. You should respond by saying “that is perfect, you are right about in our price range, how soon do you need an apartment?”

3. Value Sell, Value Sell, Value Sell. If they nail you down and make you divulge the price, start by quoting the market rent and be prepared to explain why it costs what it costs. If your property is $200 higher than the one across the street, explain why. Try saying something like: “our apartment homes are brand new with energy star appliances. They also include water, trash and sewer as well as a bundled cable and internet plan. When you add all of these features up, and throw in our state-of the art amenities, you will find that this is right about in your price range!”

Your prospects will pretend to care about price. But this is because our industry has conditioned them to do so. They most likely know the price before they even pick up the phone, so stop focusing on your rents and start focusing the conversation on value and rapport building. Save any specials or concessions for your closing table and get some leases!

When leasing apartments it is important to give some thought into the buying behavior of our potential residents. In most cases, a decision to lease an apartment is not made entirely by the prospect who tours the apartment. When there are other occupants living in the unit, their feedback becomes essential. Even when the apartment is for only one person, most prospects will consult a friend or relative for advice on where to live.

Buying behavior tells us that the person who first finds the apartment will become a proponent of leasing the unit. The other party who was absent at first contact becomes the opponent of the purchase and immediately assumes the role of devil’s advocate. For example, if you show an apartment to a guy and he returns later with his girlfriend, the guy will assume to role the proponent while the girlfriend will be the party that still needs to be sold.

That is why it is so important to get the contact information of everyone who will be living at the property. In most relationships, whether it be a companion or roommate situation, the two parties will choose different stances on the purchasing decision. Therefore we need to focus on not just the party who inquires about the apartment but also the party who is absent during the initial inquiry.

The next time someone views an apartment without their roommate, get the address of the roommate and send them a quick note letting them know you can’t wait to meet them. You should also shoot them an email saying how much they will love the community and attach a gift card or coupon for a local restaurant that you have teamed with for cross marketing. The roommate who is absent will be blown away that they received the note and email prior to even viewing the property. They will come in with a “softer opposition” to buying and you will certainly set yourself apart from the competition.

This same technique can be used for first time renters who will be consulting with their parents prior to leasing. See if you can get the email address of the parents and drop them a line explaining why their son or daughter will be comfortable and happy living at your community. You will immediately get the seal of approval from mom and dad.

When speaking with a prospect, try to determine EVERY person in their life that will be an influencer in the decision. Then target those influencers with thank you notes, emails and phone calls. Your prospect will trust the opinion of their family and peers so go the extra mile to make sure they will be an advocate for your community!

As a leasing specialist you are the first contact for nearly every prospect that walks through the leasing office doors. It is important to be on your game with every single prospect, because there’s no second chance at making a first impression.

With this in mind really concentrate and make a push to accomplish the little things not only this weekend, but everyday you’re in the office:

Make sure that your balloons are out front and you are in the office ready to lease five to ten minutes before your scheduled time to be in the office.  There’s nothing wrong with being early.

Walk your tour routes to make sure that they are completely clean and there are no unforeseen surprises that could hamper a tour.

Check the model and show apartments to ensure that the lights are on, there aren’t any little surprises hiding in the bathtub or cabinets and it smells fresh inside the apartment.  You don’t want there to be any extraneous features that could hinder the prospect from realizing how great your apartment is.

Right when you get into the office, search your community online to make yourself aware of any new information posted on any websites about your property.  It’s pertinent to be aware of what’s being said about your community, because if you don’t make the initiative to make your online reputation, someone else will do it for you.

Make sure to get 3-5 Craigslist ads up throughout the day in between taking tours and phone calls.  Space the ads throughout the day in order to monitor when you are receiving calls from your posted ads.

Put together an informative post for your property’s Facebook page.  Use the ratio of 80/20.  80% posts about relative information to the city, community events, news happenings, fun facts, etc. and 20% posts about direct apartment community information.

Get your key cards out from the previous day that still have follow-up phone calls that need to be made.  Follow-up needs to be done EVERYDAY!

When the phone rings make sure to enthusiastically answer the phone, gather as much information as possible about the prospect and really make a true effort to build that rapport, so they will be not only more inclined to come visit you, but will also feel more comfortable leasing with you.

Hop up from behind your desk and greet every single person that walks through the door, so they immediately feel welcome and at home.  The leasing office can sometimes be an intimidating atmosphere to walk into.  Make it as inviting as possible.

Take the time to fill out the entire key card to ensure for proper follow-up immediately following the tour.

Really sell your community to the prospect while on tour and make sure to point out all of the unique features when inside the model apartment in order for the benefit of each to be acknowledged.

At the closing table really make an effort to close on every prospect to lease and if they will not lease, absolutely aim for a hold in order to get them back in the door tomorrow.  If they still are not willing to hold an apartment, schedule another appointment with them.

Complete your follow-up email and thank you letter the second the prospect walks out the door. In doing so, the tour will be fresh on your mind and the prospect will be taken aback by getting an email so soon after their tour.  Plus, most apartment communities do no follow-up at all.  You will distinguish your property and show that you are a cut above the rest.

All of these things are supposed to be done every single day, but really make an effort to go above and beyond of what you normally are expected of this weekend.  If your goal is two leases this weekend, then aim for four.  Don’t give yourself an opportunity to look back on a day and think you may have obtained a lease if you did something differently.  Make
every tour count everytime!