Closing Skills

I have 3 representatives who work under me leasing apartments, etc.

They are all pretty new to the multi-family industry and really need help with closing skills.

Does anyone know of any classes they could take, preferrably online, or any good books to read?

We have 47 vacant units out of 500 apartments and we desperatly need help!

Thanks in advance!

I'm not a salesperson by nature but I can rent apartments. I use these methods:
"Let's go look at your apartment!"
"Will your furniture fit here?"
"Do you like this apartment?"
"Isn't this nice?"
I get their head nodding with me...they are saying yes! I also know EVERY SINGLE THING about my community and tell them. How far it is to dining, how big the tv nook is, everything about the heat, hot water, quirks, how awesome the staff is....etc.

And then when I get them back in the office:
" Would you like to put a deposit on that apartment?" or "Would you like to apply for that apartment?"
and if they say no they have to think:
"I'd be happy to hold it for 24 hours for you, would that be helpful?"
and if they say not right now:
"I only have ONE apartment like that available for your time frame, so let me know as soon as you decide."

And sometimes if I'm feeling really zesty I'll tell them if they don't rent it I'll rent it to someone else and they'll be sorry. Depends on how much I like the person and if I have that rapport.

Also even if you feel like they hate the place ask them to rent. I have often been SHOCKED that someone I felt no vibes from got out their check book when I asked them for a deposit.

And I would take Grace Hill's Leasing for a Living or if you contact your advertising person, ours gives free classes and will come out and work with my "newbies".

I realized I didn't answer your question, I just got excited about closing!

Let me add to what Donje said, start with having everyone, including Maintenance, take Fair Housing classes. You might also consider The Training Factor in addition to Grace Hill for on-line training classes. Each of these providers offer specialized training packages you can consider that is effective and easy to use for the leasing consultants and easy for you to keep track of everyone's progress.

Second, Leasing Professionals must embrace every aspect of the sale, from the first phone call, email lead, and walk-in Prospects. It sounds like you have traffic, your question is how to close. I suggest doing some role playing scenarios with all the leasing team members and ASK THEM what they are having problems with. Maybe they freeze when Prospects ask certain questions or make an objection: rooms are too small, not enough storage (but your community offers garages), not the "right" community amenities (fitness center, pool, don't accept pets, etc.) or dated apartment decor. Some of these you can "fix" and some you cannot, but your leasing team can learn to turn a negative into a positive, but it takes preparation and practice which leads to confidence.

You might consider your property's marketing plans and materials, too, as a contributing factor. Maybe these materials need updating. Additionally, I would want the leasing consultants to understand the art of the tour, as well. All of this helps the leasing consultant feel "polished" and confident.

Some good closing techniques include, asking Prospect when they would like to move in because if they aren't ready today perhaps they would be interested in preleasing an upcoming vacant? Also, NEVER let a Prospect know how many vacant units you have, so don't display the Make Ready Board to them. Build excitement for the Prospect and make them feel special - "May we hold this apartment for you? Holding is such an easy process. Let me get your paperwork started!" Or, "I have this apartment today, and you really seem to love it. It fits everything on your Wish List! How great is that? Here is the Application. Would you like to fill it out now?"

Rapport needs to be built and this happens with a good conversation between your leasing consultants and the Prospects. Once likeability occurs, trust can begin. All relationships are built on trust. For those Prospects who are analytical, you might get a piece of paper and a calculator out and start comparing prices, etc. and build the idea of the value they will receive by renting here on this day. I always ask permission of a Prospect to show them this. People appreciate a helpful attitude, not a pushy one.

Last of all, make sure your leasing consultants believe in the community with all their hearts. Their enthusiasm and confidence will relate very well with the Prospects.

I think it is important to step away from the "closing" strategy and focus on your leasing professional's dedication and ability to "finding the right match". The salesperson's role is to help people get what they want, and to see it through.

So to start,
Are they really prepared? Do they, for example, know how they compare apples to apples to their closest competitor? Do they know the details, like how many cupboards and cabinets are in each floor plan? Can they define their competitive advantage?

Are they taking the time to find common ground before they ever try to sell anybody anything?

Are they good listeners or do they just go through the motions?

Are they adept at leasing math? Being able to break down price cost per day, etc.?

Is the fact you have 50 apartments overwhelming to them? Are they offering too many choices?

Are they making follow through about getting the sale or adding more value for the prospective resident?

There is more, but it will be helpful to break the process down to identify where the obstacles lie, and what your best course of action will be. This way, you can provide ongoing training in specific areas in addition to online or books. Hope this helps. I also have a number of sales articles here at MFI in the blog section that may help your team.

Something I learned a long time ago is that when you are working with a prospective resident; you are working with what is likely to be the single biggest line item on the monthly budget for the household. When I learned that, everything else fell into place.

I established what I call 'the golden question' when ensuring the units are ready for the next resident (or the model was ready to show). I taught this question to my maintenance team to use as the standard to base 'rent-ready' on and insist outside vendors to abide by when I use them. This question is:

'Looking at the quality of the work recently completed, would I want my PARENTS or GRANDPARENTS to live here?'

The logic is that my mother would not thank me for doing the housework; she would criticize me for how it was done.

Encourage your team members to walk the tour path and model unit on a daily basis to ensure the picture painted is as pristine as possible. When they do close a lease and have a move in scheduled; encourage the leasing professional to prewalk the unit no less than 3 days before the scheduled move in date and note any shortcomings. Have that leasing professional discuss the issues with the maintenance supervisor so they can be corrected before move in. That would be when you place the move in gift (if you have them) in the unit. If you provide refrigerators, I would include a case of bottled water in the refrigerator so it is cold when the resident moves in. If you do not provide refrigerators, I would purchase a small one to use for that purpose as a temporary loaner and pick it up the following day.

An easy technique for your leasing team to use is to use the prospective residents' NAMES. It is perfectly acceptable to ask for assistance in the correct pronunciation of names that may be difficult at first. I have said it before and will say it again; people are naturally subconsciously egotistical (not a good thing, nor a bad thing; it is a fact) and the most important word they can hear is their own name. Pronounce it right, and you are golden.

I would start with the basics and build from there. I think all of the opinions you have been given already are spot on. There are also great tools on Gracehill.com under the forms section. I use a lot of those as tools with my teams. They have things like telephone techniques, a list of words that close, and other awesome marketing / closing ideas.

When it comes to sales I believe strongly in customer service and relationship management. Those two things alone have gotten me more leases than asking for a deposit three times.

Good luck and please come back and give us an update!

Perfect timing! Lisa Trosien is presenting a webinar on closing on the 16th! You can check it out here: www.multifamilyinsiders.com/shop-multifa...g-closing-confidence

I think it is more important to master the art of customer service. Master that, and the closes will come naturally.

In our context; look up books on 'relationship sales' and teach your team that you are selling more than just a phone/computer/bicycle/camera/hamburger; you are selling them a HOME and hope it will be a HOME to them for a long time.

Have them shop other properties that are known for their high closing ratios and/or high occupancy.

Amen Lori!! :laugh: I so agree!

Give me a call at 678-461-0110 or email me at [email protected] We have a number of training options that may work for you. Thanks! -Danny Soule

I know what worked for my office, not only my staff but myself as well. Educate your staff about people skills. But first and foremost, have your leasing consultants find out what the potential resident is looking for and what their needs may be at the time. Instead of talking at the prospect and telling them how wonderful the apartment is at first, ask them their wishes and really listen to what they say. Everyone loves talking about themselves and their dreams and this is the fastest way to bring someone around to opening up, listen!!! When prospects feel that you have their wishes in mind instead of just renting them an apartment, you can begin to form relationships.

A great book to read, "How to Win Friends & Influence People", by Dale Carnegie.

A few rules to live by,make sure you are pre-qualifying,most prospects will take the tour even if it doesn't meet there needs so we need to treat them like eny other person(s) that inquires about the property. In this case it's not the lack of poor closing skills.

Take the time to get to know your prospects and this is where your going to make your impression, your greeting is key, someone will make their impression of you in the first 5 seconds of meeting you so let that personally shine. Keep in mind you are selling your self, the management company and property thought the visit. So you have wined and dind pulled out all your tricks, still no deposit, ask them straight so what is stopping you from leaving a deposit today that is an open ended question and you just might get a straight answer.

Remember buying is a feeling, so take a look at your leasing office to make sure its inviting right down to the smell, if you can have music play it.