The Art of Negotiation: Emotions

The very best professionals are always looking for opportunities to learn. You must be one of them because you are reading my blog probably looking for some new ideas. Well, to you I say "dig in." There are a lot of amazing sources for information and my goal is to make sure http://www.KateGood.com serves your need to learn.

There is one topic that I have been studying this year to make myself better at what I do and that is the art of negotiation. I learned the power of emotions on the negotiation process. This means that we make decisions based on our emotions. Yes, there is still the logical side of our brain that is weighing in on this decision, but it is the emotional rush you feel that drives you to say yes.

When are the emotions of your customer most effective to the sales process? In the model or rent ready apartment. It is at this moment that the customer has been taking in all the features and benefits of your amenities on the way to the model. They are really excited and now you show them a beautiful model apartment that is the best home in the community. Whamo! They are really feeling their emotions at this moment. Now is the time to ask for the lease and close it!

Set yourself up for success by placing a stack of applications and pens in the model. Have your availability with you at all times. If you wait to do this when you get back to the leasing office you are missing the power of the emotional high.

Template Ads Can Still Be Fun

I love the part of my job when I am asked to consult with apartment communities on their ads and position in the market. I approach all my work with this question: Will it generate traffic and close leases? When you create marketing peices and then ask this question, you begin to see that saying things like everyone else will not create more traffic becuase you do not stand out in the market.

Let's take on this challenge in 2010 and think of better ways to say things. Don't just list things you offer, tell the customer why they should by it. Stop using the same tired words to describe your features that everyone else is using such. Step up to creative writing and step ahead of your competition.

I've included a graphic in this blog post because I want to commend Atlantic Palms in North Charleston for putting something fresh and fun in your Apartment Guide ad. Bravo my friends!!

Trend: Be Your Own Director of Training

Gone are the days of sitting in a classroom for 8 hours expecting a return on investment of time. Managers and business professionals do not have the time for multi day event based training. Selling is a process therefore sales training will alter to a more succinct process. Since learning is a day to day activity, it is imperative that a leasing pro step up to find and create their own learning opportunities. Empower team members to direct their own learning by attending webinars, reading blogs and attending public seminars to take ownership of their profession.

Trend: We Are Value Creators

We are in a knowledge economy. We must stop providing information to clients and provide value. The question is, what is valuable to your customer? This is a very individual and often subjective answer. For example, a washer and dryer may be valuable to a mother with two small children but would not rank at the top of a busy professional’s need list.

Another item of value may be the service that you provide. I can say with certainty that any customer who is looking to us after renting a private home in the shadow market will find our 24 maintenance guarantee to be a item of value.

Trend: Getting Prepared

The last five years have provided significant tools and technology for sales professionals. Customers have access to as much information as their leasing professional. Know what your customer is reading.

How do you rate in the blogs and opinion sites?

Has your sales team checked out your complete Internet presence, including web pages on the Internet Listing Services?

A prepared leasing professional has a greater chance of closing the lease because it shows the customer that they are important to this team member.

No Matter Who Signs Your Paycheck, You Are Self Employed

While traveling this week I overheard a conversation where two people were discussing their disappointment that someone got promoted over one of the ladies in the conversation. They were clearly unhappy and found a number of reasons why their company had failed them. I overheard excuses such as the promoted person had an easier property to manage, the president wanted a man in the position and she had not received enough training. And so I started thinking.....

While we are employees and someone signs our paycheck, we are really in charge of our own career. If you want something, ask for it. If you are told you are not ready for the next step in your career, find out why and change it. There are few victims when it comes to business. However, there are a whole lot of lazy people.

On the day that I was promoted into the coveted position as Director of Training, I was told that I was probably too young for the job (ahhhh, to be 24 years old again) but that I had the skills and the talent. The president also expressed to me that the most important quality I had going for me was that I took charge of my career and planned out the steps I needed to get the job I wanted. He called that ambition. I agree. I was the youngest person out of a sea of 27 more tenured people than me that applied for that internal promotion. Ambition pays off!

What can you do today to prepare you for the next step in your career? Email me at kate@KateGood.com if I can ever help you with your career goals.

Trend: Better Offers Are Not Aways Bigger Offers

Know what your customers want. Don't just offer the same special as the community down the street. When we do this, we are actually feeding the “bigger, better deal” mentality which challenges the customer to find a better deal. Take a different approach and create an offer so unique others cannot match it. For example, a community I am consulting with is using coupon books which give the customer complete control as to how they want to use their concession. Each coupon is worth $30 and the customer can use any number in their book at any time. This unique offer cannot be compared to an offer for one month free even though the dollar amount is the same. Strategy!

Trend: Customer Service as Part of the Sales Process

45% of every client interaction involves customer service. My research illustrates that customer service has decreased in many organizations possibly due to the fact that we may be operating with leaner staffs and they are simply stretched too far to give your customers the personal attention they crave. Since customer-to-customer influences have become vital to success, it is increasingly important that leasing professionals focus more on their most vital asset-the client.

Anything which would be considered a administrative function should take a back seat when a customer calls or visits. And yes, leasing is all about customer service. In fact, today’s successful consultant knows the secret closing more traffic today is find out what the customer is looking for and service their need to find a new home.

Trend: Greater Focus On Lead Conversion

The world of apartment leasing and marketing will never be what we knew as early as 4years ago. The items that made your marketing plan a sure fire success will not get you the same results today. The leasing consultant that ranked number one during your leasing contests may be struggling. Does this mean that we should throw our hands up and site a bucket load of excuses? Not if you want your job!

People are still renting apartments so why not rent one from you? If you want your unfair share of the available leases, and to keep your job, study these trends which I will be spotlighting in my upcoming blgs and make necessary adjustments, not excuses.

Let's start with Lead Generation.

The issue of lead generation has increased in the last two years. Technology has helped gather leads but the conversion factor has not increased. Simply put, leads must be converted and there will be increased attention to convert and close more leases. Your marketing and leasing strategy should include a solid system to follow up every phone call and email lead. Work that customer until they lease. We are using more advertising sources than ever before, make sure you are counting all the traffic they are delivering and take a closer look at your teams ability to convert that lead to a lease.