Kate Good Consulting
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Showing posts with label sales. Show all posts
Showing posts with label sales. Show all posts

Thursday, August 1, 2013

How Can A Car Help You Lease Apartments?

Very simply put, creating a memorable experience will help you stand out in a crowded marketplace.

"It took 9,000 hours over a period of seven months for eight craftsmen from two families to shape a work of art that comprises roughly 2,227,000 individual parts weighing a combined 200 pounds, with each one glued together one by one. The completed sculpture, on view on the first floor of the new BBVA Compass Plaza on Post Oak Boulevard, speaks volumes of the cultural flavor of Houston and the values cherished by the city's stakeholders — and the principles of the underwriters. Vochol, the title of the piece, is a 1990 Volkswagen Beetle swathed in a mosaic of vibrant glass beads that collectively, from afar, appears to be a painted vehicle of sorts — what one would see sashaying down Houston's iconic Art Car Parade. But this art car's Mexican provenance — Mexico was home to the last manufacturing plant of this popular VW model that was assembled from 1938 through 2003 — pays tribute to an artisanal craft that at its core serves as a spiritual channel." -Culture Map




Give your sales team this type of conversation and it can open 20 doors to building rapport and connecting through a solid visual memory of what makes your property unique. While this car is a huge display, a memory point does not always need to be as bold.  It simply means that you have something notable and you take the time to share that with your prospect.  At the end of the day, when they are reviewing all their choices, what will they remember you for? I doubt it is 4 white walls and beige carpet.  Everyone has that. Try a wall mural with all the sports teams in your area like a community in Jacksonville put in their indoor basketball court.  A community in Tampa has a NYC Taxi in their courtyard. And, one smart community in North Carolina has a "stuffed person" named Gladys sitting on the couch in the model.  All are unique and stand out in the mind of the consumer.

Tuesday, June 4, 2013

Apartment Community Art Wall

This apartment community clubhouse features an art wall.  What makes this very special is that all the art has been created by their residents.  I think this would be a great talking point on a leasing tour. Great idea! - Kate

Wednesday, September 19, 2012

I Bought Another Pair of Shoes

I know you are not surprised by the fact that I bought another pair of shoes. I love my shoes. Today I am on a 4 day trip and I have 5 pairs of shoes with me! Years ago, no one would have imagined buying shoes on the Internet. Of course we would want to try on the shoes before we buy them. Or do we?

Online shoe retailer, Zappos, changed this mindset when they started selling shoes online. In order to gain the trust of the customer, they had to not only have great shoes, but great people helping the customer buy the shoes.

In my first experience with Zappos, I spoke to a customer service agent who wanted to help me get the right size. Because the event I needed the shoes for was just a week away, we only had time for one shipment. Zappos shipped me three sizes to be certain one of them would fit. And, there would be no charge to return the pairs of shoes that did not fit. When the boxes arrived at my home, I found that one of the shoes fit perfect. Did I return the other two pairs? Nope. My assistant bought one of them! So, because they extended themselves with over the top service, they sold two pairs of shoes.

What is your company known for? Do you have a legacy of doing what ever it takes to earn the customers business? Zappos shows us it is not only easy, it is profitable.

Tuesday, July 24, 2012

Old Leads Are Cold Leads and My Olympic Experience

This is one of the hottest summers on record. I live in Phoenix, just ask me what 113 degrees feels like. Yuck! All over the country, our leasing teams are feeling the heat and it can be truly exhausting. By mid-July we are wearing down from this long hot summer yet we need to keep our leasing productivity HOT! The quickest way to get there is to touch something COLD, your Internet leads.

80% of potential sales are lost due to lack of follow-up. This is one of biggest mistakes people make in marketing. Do you want to know how you could increase web conversions and sales by as much as 400%? The secret lies in what you do after you generate a qualified lead. The steps you take next to build a relationship and help your prospect get what they want make all the difference. Most people are so focused on getting qualified leads that they neglect to put their web site marketing and Internet Listing Service follow-up systems in place to convert leads to sales. It’s so important that I’ll say it again;

…with better follow-up, you could increase web sales by 400%.

In just a few days the World’s attention will be on London for the start of the 2012 Summer Olympic Games. This is always an exciting time for me as I reminisce about the 1996 games in Atlanta. I tried out to be a placard bearer in the opening and closing ceremonies and got picked! The day of the opening ceremonies it was 111 degrees on the tarp that covered Turner Field. Our energy was draining but continued to be refueled by the excitement of meeting our teams and seeing Mohamed Ali light the torch.



I ushered the great country of Azerbaijan into the games proudly holding their county’s sign alongside the flag bearer. I call them a great country and it has nothing to do with their politics which I know very little about. What I know is about the athletes that represented their country in 1996. It was their first year competing as an independant country after breaking off from the “Unified Team” also known as Mother Russia. Azerbaijan’s uniforms were mismatched and used. Russia looked smashing in their red suits and hats. (Did you think I would get through this blog without a little fashion commentary?!?) It was clear they had little resources and training opportunities but they had a lot of ambition and a plan to win. At closing ceremonies we gathered again for a celebration in the stadium. It was truly exciting to see these inspiring athletes wearing medals they had won. They were singing and dancing with athletes from all over the world. As for me, I was just proud to be a part of the biggest moment in their life and wear a silver medal won by a hot wrestler named Namik!

Imagine you were training for the upcoming summer Olympics. You’re a runner and want to win gold this year. You get a new pair of shoes to help you in your medal quest. Then you map your workout plan. With your coach at your side you identify which exercises to do and when to do them. Each day until the coming Olympics you eagerly show up at the weight room and the track. What happens? Each week your strength and speed improve and you become a stronger competitor increasing your chances of winning a gold medal.

Now imagine a competitor who wants to win but after signing up for the team, didn’t show up for practice. Who do you think is going to win? The person who follows up on their commitment with a series of planned activities or the one who neglects these? Web site marketing is like training for the Olympics but with a whole lot more gold medals available! Start with a lead, regular follow up and you can win many more customers.

You could continue marketing the same way and get the same results, or you could discover the lead generation and follow-up activities that can increase your sales by 400% or more. Just as in training for the Olympics, what you do and when is critical. Use these 7 follow up ideas you to increase your sales.

1. Act Immediately
Old leads are cold leads. Use automated email responses or voice messages to instantly acknowledge a prospect’s interest and give them the information they requested. If you plan to call them, let them know when you’ll call. If you’ve offered something free to entice them to respond, deliver it instantly.

2. Use Curiosity to Motivate
The most powerful motivator in marketing is human curiosity. Tempt your prospects with something they want and pique their interest to prompt them to visit your community or to call you to get the details. I feel it is important to have a contact from that asks questions that give you the clues you need to understand their hot buttons. When you use these hot buttons in your response, you will capture their attention.

3. Create A Sense of Urgency
People are prone to procrastinate, just ask me, I started writing this blog in June! We put off doing things even when we want and need something. Give them a reason to act immediately, such as a limited time offer.

4. Educate Your Prospects
Customers may not have an immediate perception of their need for what you provide. What makes you unique compared to the competition? This product differential must be front and center in your marketing. Use each contact to help them define a problem or concern and demonstrate that your product or service is the solution.

5. Build a Relationship
The stronger your relationship with your prospects, the more likely they’ll be to turn to you when they are ready to make a purchase. Do most men or women propose on their first dates? Of course not! And if they do it is my personal experience you should RUN! It takes time and repeated contact to establish the basis for a long lasting, mutually beneficial relationship.

6. Give Special Attention to Prospects that Demonstrate An Interest
Let’s say you sent out a special $100 discount email offer to your prospect list. Typically, 10-16% of your prospects will open the email, and a much smaller percentage will act on it immediately. Go back with an even stronger call to action to the people that opened your initial email. You’ll find that approximately 50% will open it and you’ll sell a lot more of your product and services.

7. Use Automated Systems to Follow-up
Set up your email auto responders to do your follow-up for you. Use each email contact to educate and motivate your prospects and tell them about your limited time offer. Remember that prospects are more likely to buy after six contacts, so use a series of six emails spread out over two weeks. However, this does not excuse the need for human contact. Reach out!

Want to earn gold with your business? Like Olympic athletes you need more than goals. You need a follow up strategy and system. Put these in place and you can capture the 80% of potential sales you’re missing.

Monday, May 7, 2012

Does Anyone Work Here Anymore?


It's Friday night, you invite your best peeps over for happy hour. People start to arrive, walk in your front door, look around and you are missing. The guests make their way all the way back to your kitchen and find you munching on your favorite potato chips in the pantry. They start to feel as though they may have arrived on the wrong night! You would never think about doing this to your good friends. So why would you do it to a customer who is in control of your paycheck? If a customer walks into your leasing center and has to come find you then you have failed to make a welcoming first impression.

Last summer while on a beach vacation, I became freindly with a certain little beach bar one block from my rental house. I spotted the team members wearing these "Yes, I work here" shirts and immediatly left my vacation behind and started to think about our team members wearing them to let all of our customers know we are always there to serve and will never hide. In addition, the act of waering this shirt will serve as a constant reminder that we put customers first.

I wonder what I will find on my next trip?? Stay tuned!

Monday, March 19, 2012

The Hangover: Rental Edition


Although all indicators exist for a healthy year of rent increases, it does not make our job as Leasing Consultants and Property Managers any easier. Simply put, our Residents are not prepared for increased rent when they are still nursing their recession hangover. For most Americans, the recession was a tough time filled with learning how to live with less, reprioritizing needs vs. wants and living in fear of the unknown. We became a nation of bargain hunters eagerly checking our Groupon email first thing in the morning and exploring options for a “staycation”. A few good job reports and a strong uptick in the stock market is not enough to erase memories or change our bargain hunting instincts.

People still want a deal and they are expecting you to give it to them. Here are a few strategies to help you meet the goals of your owners and your residents.

1. Flat rate pricing is a dead end street. Many communities tried this during the recession to fill up fast and now have a community where people think that most pay the same amount in rent. The price was typically based on the lowest rent we could offer even though more than half the apartments had higher value. Price the apartment based on the attributes which make the apartment unique. Why should a person rent the subject apartment over another? The answer to that question will help you see the individual opportunity for this apartment price. Once you move to this type of price structure it is easier to sell a new price on an apartment.

2. Give residents options and you give them control. The customer now has a decision to make rather than just accept what you are asking of them. Psychologically this will help you get to yes. The options could be the length of lease or apartment upgrade. Now the customer has control of the decision through choice.

3. Monthly market surveys are worthless. Study your market on a daily basis. When you do so, you will notice incremental changes in the market by companies who are truly committed to managing for a high yield. Tracking these changes will help you understand what is available in the market and how the market is accepting the inventory. You now have data you need to price accordingly.

4. Prepare your team for this question "Why are rents going up?". Have a response that everyone understands and is comfortable delivering. Educate your team as to why rents are increasing and prepare them for this conversation with residents. Remember, every member of your team should understand this strategy and what to say to a resident. Your service team spends more time with residents compared to us. Do they know why rents are increasing and how to discuss this with customers?

5. Apartment All Star, Michael Benton, reminds us that competitors don't steal happy residents. Great point! Above everything, a good customer service program should be part of your rent increase strategy.

6. Moving is the worst day of your life. At least we think so! You will always have the advantage of knowing that no one really wants to move. It’s just not fun and there are a million better things to do on a Saturday. Coming to an agreement means that the customer will not have to move. This makes everyone happy.

7. A waitlist is motivating. Start one and get every prospect on it.

8. Be a Revenue Rockstar. 2012 is the time to turn up the volume and make it happen.

Friday, February 10, 2012

Can You Overcome Any Objection?

I sincerely hope you are not dealing with this functionality failure at your apartment community! This would be a very difficult challenge to overcome. A true leasing pro knows that dealing with you customers objections is an essential step to close the sale. After all, who is going to take the time to discuss their concerns if they are not interested in the apartment?

Many people get discouraged when they hear an objection and do not attempt to overcome the customers concerns with solutions. They simply give up and report back to their manager that the apartment did not work for the prospect. Is there really a perfect fit when it comes to an apartment. I'm certain it is probably rare. Dig in and talk about some ideas that you have help your customer see things differently.

The next obstacle is the "excuse" objection. My favorite excuse for not leasing is the ever popular "I don't think my husband will like it". Are you kidding me? Women are the keepers of the home. It's how we were programmed since the beginning of time. If a lady likes the apartment she will tell her man that he will love it too. Now is the time to find out what is really holding the customer back from leasing the apartment.

Friday, March 18, 2011

Thanks for Popping In!


Who wants microwave popcorn with a note on it that says "thanks for popping in"? NOT ME! I want instant gratification. I want some comfort food or a sweet treat. Replace that tired old popcorn prospecting gift with something new, sweet and delivers comfort - the Cake Pop.

I have personally tested every flavor they sell at www.JustABiteCakePops.com and they are all fantastic. I personally like the Red Velvet cake. Customize your pops to extend your marketing theme. You can have them individually wrapped and tied with a ribbon. This makes an incredible presentation.

Be sure to tell Mindy Himmel, the owner, I sent you by exercising this discount code "ALL123".

Next time I drop in your apartment community I would rather see Cake Pops versus cookies. Try something new!

Monday, November 8, 2010

Here Comes the Bride: A Fantastic Leasing and Marketing Opportunity Happens in January


Just about every city in America has an event where there are hundreds of people in our target demographic: People who are moving in the next year. I'm often shocked that I am the only apartment community participating in this outstanding leasing opportunity. This is why I am almost reluctant to share this idea with my followers! However, I am so overwhelmed with the amazing audiences I have that I want to share this idea so that you too can jump in and lease more apartments in 2011.

The event I am referring to is The Bridal Expo. Everyone registered at this show is getting married and that usually means moving in the near future. (Unless they are already taking a test drive like I did!) The goal is to get people to come to your booth, so I suggest setting up the candy buffet since so many brides want this Martha Stewart type creation at their wedding. They will come by your booth just to show their Mom and Maid of Honor this clever and modern wedding feature. A nice touch is to have a tablecloth custom printed with your logo on it. Since Bridal Expos are often a sea of white, don't be afraid to be bold with one of your marketing colors and a white logo. The backdrop of your booth should have enlarged photos of your community, logo and grand prize.

Grand prizes and low cost prospecting gifts are essential for any tradeshow. One community I marketed had leasing scratch off cards printed. The brides simply scratch off the silver bar to see what they won and we made every card a winner. We gave away luggage, a diamond heart pendant, dinner certificates, free rent, and application fees. I am also a fan of having brides register to win a grand prize by filling out a registration card. Here is my little secret for a grand prize that gains a lot of attention.....brides love shoes! Seriously, at the last show I attended we gave away amazing silver Jimmy Choo strappy sandals that go with so many wedding styles today and replace the typical white satin shoe. I got a sample pair from the department store and then when the winner was announced, they could get a gift card or a certificate to go in and get their size. Yes, you could just do a gift card, but giving away the actual shoes create a huge buzz on the tradeshow floor. You will also want to have flyers and maybe a little special, such as no application fee since they are getting married.

When it comes down to it, your company's exhibition success is directly related to how well your exhibit team interacts with the tradeshow attendees. Here are some tips to share with your staff:

· Treat everyone entering your exhibit as a potential new customer: politely and with a smile.

· Be standing (or stand up) when a potential customer enters your booth. Sitting can make you appear disinterested and unengaged.

· Don't eat while you're in your booth. It doesn't look professional and can be a big turn-off to prospective customers.

· Focus on potential customers, not on chatting with friends and other exhibitors.

· If the booth is jam packed, do your best to handle more than one customer. Having literature ready to hand out can keep customers in your booth.

· If the booth has just a few people in it, stand near the aisles to draw more people in.

· Ask qualifying questions such as: "Have you thought about where you and your husband will live once you are married?" This more clearly identifies potential clients. Invite those "leads" to fill out an information sheet, which will expand your database. Give an incentive to fill this out. Your team will be at their interactive best if they are allowed a few breaks throughout the day. This will help them to relax, catch their breath, and be ready to maintain their stellar selling expertise.

Most Bridal Expos offer a spreadsheet with all the brides contact information and their wedding date. This is gold mine of rental opportunities. To keep in touch with the brides, send cards, notes and email helpful checklists as their day approaches. One community that exhibited at the expo in January of 2010 can credit 26 leases to registered brides.

Here comes the bride! But is she coming to your apartment community?

Friday, April 30, 2010

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.

Wednesday, October 28, 2009

A Year Without Lease Renewals?


Can you imagine the ability to take lease renewals off your long list of things to do? That is my challenge for the apartment industry. My personal recession recovery plan and if we all jump on board we just might save the world of apartment leasing from total meltdown.

The theory: For the next 12 months, we will be writing leases that will more than likely be loaded up with a rent decrease and in many markets, an up front concession. If we allow that lease to expire in the next 12 - 24 months we might just find ourselves having to do it again. Seems like the perfect reason to avoid expirations for the next two years.

How do we do this? Sell a longer term lease of 15 - 24 months. The plan benefits the owner because we can decrease turn costs or more bleeding economic vacancy loss. And for the renter, they are locked into a rental rate for a longer term. For most of my 21 year career, this has not been a great idea because we will miss the opportunity to grow rent. However, very few years presented enough of a rent increase to make the turnover costs worth it. Owners push rents in increase the value of the asset.

If we face the facts, very few markets will see much rent growth in the next 12 - 20 months. If we can stabilize and stop the burn we have a shot at improving by the end of 2011. All together now, take a breath and say STABILIZE. Lock in residents for longer terms and avoid having to offer your market rent and concessions to renewals. Hopefully with less vacancy you will reduce the concessions, supply will decrease and we will start to see rent increase before the next presidential election.

My Winter Sales Strategy


I'm going to a fancy event in November. You know the kind, where you have more fun getting ready for the event than you actually have at the event. Being the fashionista that I personally express myself to be, I need the perfect dress. After all, we dress for women, not men, and women will notice what other women are wearing at an event like this.

In years past, I have started my search a few weeks prior to the party. This year money is tight, I started a few months early giving myself plenty of time to really dig hard for something on sale. As luck would have it, I found an amazing dress on my first shopping trip. I figured there may be something better to discover but I would go ahead and buy this one and continue shopping. If I found something better I would simply return the first one I bought.

Well, the event is approaching and I never took another shopping trip. I guess when I found something I liked, I stopped looking. I have better things to do with my time like shop for shoes!

My winter strategy is pretty simple, close traffic like they need it tomorrow. Too many Leasing Consultants get lazy and do not put their best foot forward when someone comes in the door or calls and they do not need the apartment for 3-6 months. I have even heard a sigh come out of their mouths and the customer can tell that this sales person only wants the quick sale. So if you are so good at that quick sale, do it. Why would you treat this customer any other way? They need a apartment and once you show them what they are looking for, you have the ability to stop their shopping efforts.

Now here is the punchline, remember that I started shopping for my dress early because I wanted time to shop the sales? Well, I paid full price. Maybe your customer will too when you truly sell them what they want.

Wednesday, May 13, 2009

Marketing in a Down Economy

By: Steve Hendershot
Issue Date: April 2009

The recession is bad news for just about every sector of American business, and property leasing is no exception. But before you rush to slash your marketing budget as a cost-saving move, consider that good marketing may be the key to keeping your business afloat. Your tenants are out there, and with careful marketing you can find them.

Rather than dream about high rents and low vacancies, focus on a plan to survive the recession. That means offering great value and making sure people are hearing about what you have to offer—in other words, keep marketing.

“If you need traffic, you shouldn’t cut your marketing budget,” says Kate Good, professional speaker, marketing solutions expert and partner on the Apartment All-Stars tour. Instead of keeping your current marketing program, look at changing it up and marketing more intelligently. Good suggests starting with the tenants already in your properties. “The least expensive strategy is to market internally and close the back door.”

So while it’s critical to study your market and know which promotions are luring tenants, it also makes sense to devote some of those perks—a couple of months free rent or a new flat-screen TV—to your existing clientele. It seems counterintuitive to give discounts to the people who are currently underwriting your revenue stream, but if you increase your retention rate you’ll be solving your vacancy problem without the turnover costs associated with moving in a new tenant.

When it comes to reaching out to prospective tenants, be selective. Figure out who is already drawn to your properties and find more of them. Good uses this example: If you notice that your community appeals to active seniors, invite the local bridge club to meet for free in your clubhouse. That way, more people in the target market will see your property, and word will spread.

“Don’t try to be all things to all people,” says Good. “Identify the kind of people who like your community, find out where they are, and figure out how to attract them. You’re saving money by reaching out to a smaller audience, but it’s the right audience.”

Even with changes to your marketing strategy, don’t do away with all of your traditional marketing.
“Print drives traffic to the Internet, so make sure you keep those ads out there,” says Good. And you have to, do it year-round. “Renters pick up the apartment guide in February or March even though they might be renting in June or July. If you pull your ad in February because you’re not getting any traffic, you’ve lost an opportunity for residual traffic later. I don’t pull back on advertising until I’m full, and most people aren’t full right now.”

Next, consider changing your pricing model. Instead of charging the same rent for every two-bedroom unit, for example, charge more for the unit at the end of the hall with more windows, or the unit with new carpet.

There are two advantages to this strategy. First, you can make more on your premium units. Second, if the least expensive units sell first, then your best units will be available for display during the peak of leasing season.

“If you’re charging a flat rate, your best units get cherry picked,” says Good. “You want to have that more desirable unit—with the higher price tag—available when you have higher traffic.”

Slashing your marketing budget isn’t the right response to the recession—changing the way you approach marketing is.

Wednesday, April 15, 2009

Marketing 101: Desperate is Not Desirable

Wendy Muse with Tarragon Residential sent me a photo of a hilarious banner which reads “As Long As You are Breathing, We Will Rent You An Apartment.” Can you believe it? Whenever I show this banner in my seminars and keynote speeches, the crowd roars with laughter. Many simply think it is funny and some recognize the desperation in this marketing attempt and are laughing because they know it just won’t work.

Desperate is not sexy. Desperate is not professional. Desperate is a last ditched effort to effect change. I have made a hobby out of observing human behavior. Recently I was on vacation in Hawaii where my dear friend Janet married her middle school sweetheart. There was a group of single women vacationing together and they all seemed to be looking for a vacationship. One by one, each of the women met someone to flirt with and pulled away from the group. The women who was left was wearing the most provocative outfit that left little to the imagination. She just had the look of desperation. She may have been the coolest chick in the group but she looked like she would settle for anything. Not sexy if you get the picture. The first gal to meet someone was elegant and carried herself with amazing poise and confidence. Men found her irresistible. People are attracted to confidence, not desperation. This is true with people and product marketing.

While I support honest marketing, desperation will never work. Another banner in Dallas, TX reads “Save Kathy’s Job, Lease at Gentry’s Walk.” Kathy seems to be standing on the corner begging and it seems she would accept any applicant. Don’t lower marketing message to say our flood gates are open and it is a leasing free for all! The type of resident you really want will never fall for it. Instead you will get people who are possibly not qualified to live there because of a poor credit record. However, that risky resident knows you need them and they will take a shot thinking you will over look their past eviction because you want to increase occupancy.

I know it is tough out there. I am not just a professional speaker, I also have a healthy consulting practice that puts me in the seat of the leasing and marketing role every day. I know we are no longer order takers and advertisers. Today we have to be seasoned sales pros and marketing strategists. Desperate marketing seems to be popping up all over but it is more than likely an attempt by someone who has run out of ideas.

I'm interested to hear about the desperate marketing in your town. Even better, I love to see examples of this marketing. We have a lot of fun showing these photos in my programs but it also serves as a good example of what not to do. So, send me pictures of desperate marketing in your town. My email address is Kate@KateGood.com . The best photos will be rewarded with a special gift from me!

Tuesday, April 14, 2009

The Three Things Rule

I was once asked by my very first property manager, Glenn Rand, to make a list of “100 great reasons to live at The Hamptons.” I will admit it now, when I got to around #54 I started to repeat. Honestly, was anyone even going to read all 100 reasons? I had better things to do with my time like eat some frozen Otis Spunkmyer cookie dough! There are many great things about your apartment community. We have all been trained to successfully demonstrate all the features and benefits. But the truth is, the customer only remembers what is important to their own personal needs. A wise leasing consultant knows that when people’s needs are met, the buying decision is made. Isn’t that what we want? Yes, people to make their buying decision while standing in our model or vacant apartment. Then we slide in the application conveniently located in the kitchen drawer or our leasing kit.

Getting to the buying decision is not so hard when you take the time to discover what the potential resident’s needs and wants are. To do this we have to ask open ended questions that get the customer talking about themselves. In their answers, listen for what might be a deal breaker and what will be a deal maker. I have found that most people have three things they need and want. If you meet these three things you are a sale maker.

Once you have heard what the customer is looking for, successfully demonstrate the apartment by using their needs and wants and link them to the features and benefits of your apartment community. By doing this you are personalizing your tour to custom deliver the information this individual customer needs to make a decision.
So what happens if they don’t lease right away? Use those three things that were most important to the customer and talk about them in your follow up notes, phone messages and emails. If you become really good at drawing out their three things and linking them to your apartments, you show the customer that apartments are not one size fits all and this apartment was made for your customer.

Monday, March 16, 2009

Targeted Marketing Boosts Leasing

Multi Housing News called a few weeks ago for my comments on the current state of marketing. The article was published in the most recent copy of their magazine. I am pleased to see I am in good company with comments and expertise shared by Lori Snider of Creativity For Rent and Steve Lefkovitz with Joshua Tree Internet Media.

Enjoy the read: http://tinyurl.com/cnv5r8

Wednesday, February 18, 2009

Authentic Communcation

Last week while presenting "Successful Selling in a Slump" with Lori Snider, we discussed the fear that exists in the American consumer today. There are great deals all around us but we are worried to spend money and so we let a 70% off shoe sale pass us by (that was even hard to type). These are the very same people who are walking into our leasing centers. I am seeing some crazy concessions out there (4 months free!) and yet people are still reluctant to lease.

Why is it that even when you are "giving it away" people are still hesitant to buy? I think this comes down to being authentic. It is very important to remove the fear that a future resident may be feeling. Now more than ever we want to believe what we see and hear but fear makes us think twice. It can be paralyzing in any type of relationship (I have some personal experience here!). When people stop being authentic, we sense this and get worried. Next thing we know our ability to trust diminishes.

The benefits of Authentic Communication are many. When used by sales people, it shines forth the authenticity, which is the backbone of building relationships with customers. When used in therapy, the subtle energies expressed reveal whether or not clients are speaking their truth. And in every interaction, what is said earns respect and radiates confidence.

A few things you can do to show that you are authentic and seek to remove fear in your customers:

1. People will not believe what you say, they will believe what you do. This is a rule I have in my dating life. Men will often say the right thing and do something completely the opposite. It is at that point that fear steps in and we not longer trust. Customers will walk away from a situation like this. For me personally, I think I will too.

2. Our bullshit meters are at an all time high! Yes, you were born with one and through your adult life you have been improving the reception of your meter. Our voices and vibration change when we say something that will register in the bullshit rector scale. I am a single women in her 30's, my meter is is tip top shape. Sure I may not let on to someone that my meter just spiked, but I know in my heart and head and I act accordingly. My advice, don't say things that you cannot back up. Keep it real at all times.

3. If you say you are going to call, do it without fail.

4. Let the other person know you have their best interest at heart. This is not hard to do when you put others needs in front of your needs.

5. I believe in full disclosure. It is always best to tell people things, even if it is not always what they want to hear. Many times we change our delivery because we incorrectly expect a negative outcome. For me, I react much better when I have complete information from the source rather than hearsay from an outsider.

6. Feel that what is being said comes from your “heart” — when it comes from the
heart, it feels sincere and reflects your total being. If it comes solely from the intellect, it could be cold and without compassion.

In summary, Authentic Communication means balance with our mind, intellect, and heart. It is intuitively driven, resonates authenticity, and provides opportunity for
wisdom to shine forth. Both speaker and listener can apply these skills, and in so doing, they can create their own personal human trinity. Once accomplished, the relationship becomes its own entity and thus forms a Relational Human Trinity. As each of us experiences speaking accurately, we find that it also applies to listening. Relationships based on Authentic Communication serve to build higher components of self-mastery.

Wednesday, January 14, 2009

The Return of the Interview Suit, NYTimes.com

My last blog was about making certain your company retains top talent. Many of you are the top talent (because you are smart and read these blogs). I want to make sure your company tells you how important you really are. For those of you who are not feeling the love, you may be contemplating a change. Others may have found themselves the victim of the industry slow down. Break out the resume and the interview suit. This article, found in the New York Times, should get you motivated.

One note on interviewing....I once "got the job" because when I walked in the President's office, I picked up a ball of paper on the floor that looked like trash. I was hired because a "Trammell Crow Employee Never Steps Over a Piece of Trash." While you are in that snappy interview suit, look out of performance indicators such as the old piece of trash on the floor. -Kate

By ERIC WILSON
Published: November 12, 2008

This is possibly a bad moment to bring up a 1959 film called “The Best of Everything.” But, oh, was that a glorious period for the interview suit. It’s hard to imagine rejecting Hope Lange for a job when she walked into 375 Park Avenue, and the breeze caught her cuffed navy jacket, revealing a flash of its polka-dot lining and a smart blouse that matched her cream hat.

“Working Girl,” in 1988, reflected another moment for the interview suit, appropriately enough during the pinnacle of the broad-shouldered, brightly colored power suit, when Elie Tahari and Jones New York were staples of a career woman’s wardrobe.

It was so much simpler then.

For a generation of young people who were recruited to technology, financial and news media fields right out of college, and who may now be competing to hold onto the jobs they have or to find any that might be available, figuring out what exactly is the modern day “interview suit” is not so easy to do without looking like Melanie Griffith. Walking downtown the other day, the designer Nicole Miller noticed an attractive young woman who was headed toward Wall Street. The woman was wearing a gray pantsuit, which caught the designer’s eye because, for much of the last decade, corporate fashion has pulled so far away from the polished, two-piece look that the outfit, while professional, seemed dated.

“I hadn’t seen anybody in a pantsuit for so long that I thought it looked wrong,” Ms. Miller said.

But with the unemployment rate in America at a 14-year high and more than half a million jobs lost in the last three months alone, there has been a detectable shift in the way people are dressing for work. In the financial sector, certainly, the tone has become more serious, and as a predictable result, somber suits are making a comeback. Companies like Men’s Wearhouse and Tahari are reporting an upswing in suit sales, particularly for those classic navy or gray pinstripe styles they classify as “interview suits.” Arthur S. Levine, known as the suit king of Seventh Avenue (who now designs a collection of women’s career clothes in a joint venture with Mr. Tahari), said he sold 1.8 million outfits this year, almost 10 percent more than he had expected.

“We are back to a time when every company expected both women and men to wear suits and we didn’t have a Casual Friday,” said Gloria Mirrione, a managing director of A-L Associates, a financial services placement firm. “They are looking for a sharper style. I recommend a strong suit that says you are collected and ready to work.”

Still, there are a lot of possibilities for error, and even fashion professionals differ in their opinions about what style will make the best impression. For example, on the great debate of pants versus skirt, Simon Kneen, the creative director of Banana Republic, had this advice: “I would definitely go with a pantsuit because that gives a better silhouette.”

Ms. Miller said the opposite: “I’m really against pants. They look too casual in most situations.”

Who to believe? There isn’t always a right answer, but each decision an applicant makes — pants or skirt, bright color or neutral, heels or flats — sends a subtle message that may play a role in how she will be perceived in an interview. To relieve some of that pressure, designers and career counselors offered some points to consider when deciding what to wear.

PANTSUIT, SKIRT SUIT, OR NO SUIT?

“There is no one right way to dress,” said Karen Harvey, a recruiter for top fashion and retail jobs. “But there are a lot of don’ts.” The key is to research the corporate culture to learn what a potential boss might expect. But on a basic level, “it doesn’t have to be a suit at all. I recommend clean and simple lines — anything that doesn’t distract the interviewer from understanding the qualities you bring to the table.”

Jenna Lyons Mazeau, the creative director of J. Crew, said a pencil skirt or tailored trousers, worn with a simple cardigan (preferably cashmere) and a beautiful necklace, looks as sophisticated as a pantsuit. A more individualized look is also a modern way to approach an interview, she said, suggesting that the applicant is creative, free-thinking and confident. But it also depends on the field, and the sportswear ensemble look may be best suited to creative fields. For corporate interviews, the options are still slim, and usually require a suit of some sort.

Mr. Kneen argued that the advantage of a pantsuit is that it elongates the legs, and “it’s all business when you’re wearing pants,” he said. He recommended double-face fabrics, which look more expensive and feminine than pinstripes. Another traditional choice would be a solid wool crepe dress worn with a matching blazer, as long as the dress is well fitted and flattering.

“And if you decide to wear a white shirt, make sure it is pristinely clean,” he said. “A new shirt is always the whitest.”

TO STAND OUT OR TO BLEND IN?

“I’m a big fan of sticking with navy or gray pinstripes,” said James Purcell, a onetime Seventh Avenue designer who now works as an image strategist for executives and politicians. “But avoid a solid black suit. It’s the worst thing a woman could wear because it shows any sign of dandruff and every gray hair that you have.”

But color can be a tough call. The majority of human resources professionals recommend wearing the classics — navy, black or gray — but, then again, playing it safe can also run the risk of looking too uniform.

“To me, the most important thing is give people something to remember,” Ms. Lyons Mazeau said. “There’s going to be a lot of people out there competing for a job, so pick a color, as opposed to wearing all gray.” But no brights, she said, and “if you are a blonde, pinks can look less expensive. This is not about wearing a neon sign.”

Earthier colors, like brown or a rich blue, impart a distinctive personality without coming off as overpowering. But beware of pastels: “I think that lightly colored suits, unless they are absolutely perfect, can feel a little Eastery,” she said.

Lisa Axelson, a senior vice president of design at Ann Taylor, said colorful accessories are another way to add color to a basic suit without risking an outfit so loud that the candidate appears out of place in a conservative environment. Prints, meanwhile, are discouraged. As Ms. Miller said, “They’ll remember you better, but what you want is for them to remember your personality, not to be totally distracted by that person who came in wearing the loud print.”

ISN’T THERE SOMEONE TO COPY?

Take cues from what powerful women are wearing, as in Michelle Obama or Sarah Palin. Mrs. Obama wore a J. Crew cardigan with a textured skirt on “The Tonight Show With Jay Leno” that demonstrated a classy combination of polish and ease. And Governor Palin, despite the controversy surrounding her campaign clothes, was most often wearing sensible suits from Tahari Arthur S. Levine that she had mixed and matched. Mr. Levine was upset that news programs were so impressed with a red suit with a ribbon belt that they assumed it was by the likes of Oscar de la Renta, not the Tahari suit sold at Neiman Marcus for about $498. About 20 other suits from his collection worn by Ms. Palin cost less than $198.

“The point is, you can look like you are wearing designer for not a lot of money,” he said.

HOW TO FINISH A LOOK?

“The bag you carry is key,” Ms. Axelson said. “You don’t want to be walking in with an old shopping bag. You want a beautiful, chic tote that carries your BlackBerry and your résumé. A tip for people who wear black suits is to pack a small lint roller in your tote bag.”

And if there’s room, some designers advise packing a nice pair of heels to change into just before arriving at the interview, so that they remain unsoiled.

“There’s nothing wrong with wearing flat shoes and bringing heels,” Mr. Purcell said. “Maria Shriver has somebody who carries her shoes for her. High heels help your stance. The American Orthopaedic Association may say I’m crazy, but the right heels will help you get a job.”

Wednesday, January 7, 2009

"Fewer folks popping bottle tops as champagne sales fizzle."

"New Year's resolutions take an outward turn in tough times"

Tough headlines to start a new year. Successful companies know that the most important thing you can do to maintain success during a slow market is to review and revise your current tactics. Updated training for your employees and implementing new and creative marketing strategies are the best way to ensure that your community is seeing traffic and signing more leases. It's also important to stay up to date on current industry news and trends.

Economists and industry experts believe that one of the big trends in 2009 will be people choosing to rent instead of buy! Due to the fact that many people are simply unable to purchase because of stricter lending guidelines along with the additional responsibility of maintenance and unexpected fees and expenses some people have decided that they prefer the renter lifestyle. Many developers are building "condo style" apartments with upgraded finishes such as stainless steel appliances, granite counter tops and luxury club-style amenities. Armed with this knowledge you can increase your traffic, resident retention and new leases by shifting your marketing and approach. Create a community where your current and future residents can feel "at home".Most people predict that 2009 will be just as challenging as 2008. In order to survive in this market you need to be prepared with a unique sales approach, fresh ideas and motivated employees. Here are a few to get you thinking:

1. Do you really know what marketing sources are working for you? Remember many people are using several Internet listing services and publications when looking for an apartment. Make certain your are tracking all sources, not just one.

2. Print drives traffic to the Internet. I have heard some chatter concerning dropping print ads to save money and "going to all Internet." This has been tested before and it failed. Eventually you will see that the loss of residual marketing that print provides will adversely effect your phone and walk in traffic.

3. Does your team know how to sell and apartment or just "show" an apartment? In 2009 tour guides won't close leases. Train your team to gather information, demonstrate features and benefits, overcome objections and ask for the lease.

4. Have a plan to get the customer back for a second visit. Everyone feels the need to "look around." What are they shopping for? A better deal. Your sales strategy should include a promotion to get the customer back after shopping the others.

5. Does it really need to be said? Ok, yes, I have been saying it for years and we are still not doing this...rent ready apartments lease. If you don't have an apartment that is ready to move into, with zero defects, customers will look elsewhere.

Get back to the basics with Legendary Leasing or get your employees brainstorming with 50 Sales and Marketing Ideas Under $500. My seminars are known for providing new marketing ideas and approaches and motivating your sales staff to get more signed leases. I would love to help you exceed your goals for 2009!

Happy New Year from Kate Good & Team!