Closing Tip

Staging  a mini-model apartment

We’ve all had that one apartment.  You know the one.  That bane of your existence apartment that has been sitting on your vacancy report week after week.  Now you are closing in on your 30 day mark and after showing this apartment over 20 times, you still don’t have a lease. 

Quit bashing yourself.  It’s not your leasing chops.  Sometimes apartments just don’t lease.  It could be the noisy neighbors upstairs, the back window overlooking the trash bin (who hasn’t had that one?) or any number of things that are completely out of your control.

Instead of dropping your price (again) or offering a ridiculous leasing special, why not try a mini-model?

The mini-model apartment is very similar to a model unit, but it has been strategically stripped down to the bare essentials.  It eliminates the bulk and expense while still delivering results.  The mini-model includes just enough items to give potential tenants the same feeling as a full model apartment.  Let’s take a look at a few things that will help you and your closing ratio.

A welcome mat is essential.  In the Kitchen set up a plate, a cookbook, and a wine glass and a place-mat on the counter.  Drape a kitchen towel over an oven handle and maybe a mat on the floor.   Living areas can require a bit more work.  A chair stolen from your community center usually can work wonders.  As can that potted silk plant from your office.  Throw a nice $5.00 Ross bought throw blanket over the arm and now you have a reading nook in the corner of your empty living room.

Bathrooms can be a nice touch as well.  Grab an inexpensive shower curtain (please make sure you iron it!), a wash cloth, hand towel and a nice paper-wrapped soap on the counter can make an empty, sterile bathroom look inviting.  Hang a few nice hangers (velvet or cloth covered) in the master bedroom closet and place a hat box on the shelf and you have a really inviting mini-model for under $100. 

Happy Leasing!

Athena Magruder

Mission Real Estate & Property Management, Inc.
 3600 Pegasus Dr #15 Bakersfield, CA 93308

http://MissionRE.com

The BOLT system as it applies to leasing

The BOLT system as it applies to leasing

Charles J. Clarke III is the creator of the BOLT System for getting the results you want from any interactions with people. Based on decades of scientific research, this system can be used for closing sales, for designing advertising, for generating leads, or for negotiating. The skills can also be used for managing coworkers or for getting along with relatives.

BOLT stands for Bulls, Owls, Lambs and Tigers. These particular animals represent the four specific personality types different people can have. Every person you ever meet will be one of these four animal types. Charles teaches you how to identify which animal type a person is, and how to speak their language in the way that’s most persuasive to them. This proves to be very useful in many areas of life.

Not only will your closing ratio improve, but your customers will also feel more satisfaction, because you will actually understand their needs and their motivations.

The Bull

Bottom line / Get to the point

Seeks to control the negotiation

How to recognize a “Bull”

·         He/She will have an extremely powerful presence.

·         His/Her handshake will be strong and firm, usually just one quick shake.

·         He/She seems to know exactly what they want and gets right to the point.

·         “Bulls” tend to be a bit stern and may seem humorless when they first meet you.

How to sell to a “Bull”

·         “Bulls” are very business-like.  Stick to the facts.  Provide immediate, accurate facts and figures.

·         Remain highly professional at all times.

·         Listen closely to his/her needs

·         Demonstrate how your property is the logical choice.

·         Be direct and brief.

The Owl

Very analytical detailed orientated researcher

Seeks logical order

How to recognize a “Owl”

·         He/She offers a strong, squeezing handshake.

·         He/She thinks more than they talk.

·         He/She is extremely observant and detail oriented

·         They may come armed with a notebook.

·         He/She will ask a lot of detailed questions.

How to sell to an “Owl”

·         Working with an “Owl” requires extensive product knowledge.

·         Provide specific information.

·         Put your information in writing whenever possible.

·         If they ask you a question that you do not know the answer to, find it.

·         You’ll need to be patient.  They will not make a decision until they have all of the facts.

The Lamb

Seeks To Please People, Avoids Conflict

Takes Forever To Make Up Their Mind

How to recognize a “Lamb”

·         He/She offers a limp “dead fish” handshake.

·         They may be reluctant to shake your hand at all.

·         He/She will appear nervous or flustered.

·         The prospect of moving causes great stress.

·         He/She will be hesitant to interact with you and your product.

How to sell to a “Lamb”

·         When working with a “Lamb” you must be extremely supportive and understanding.

·         Help to ease their burden.  Emphasize that you intend to make his/her life easier.

·         Make sure your approach is personable, gentle and reassuring.

·         Be patient.  They will not rush into any decisions.

·         However, you may need to encourage a bit or they may never decide.

The Tiger

Very Expressive and Fun-Loving

Impulsive and Excitable

How to recognize a “Tiger”

·         He/She is energetic, expressive and fun loving.

·         The handshake will be warm and generous with multiple pumps.  If you don’t get a hug instead.

·         “Tigers” can be loud, funny and employ body language such as pointing.

·         “Tigers” are highly social and may bring a friend or two.

·         He/She will interact with you and your product throughout the tour.

How to sell to a “Tiger”

·         Offer a tour that is warm, entertaining and fun.

·         A “Tiger” loves to talk about themselves, so let them do so.

·         Stress how your community provides social opportunities.

·         Focus on how they feel about the move and your community instead of facts and figures.

·         You will need to follow up with them regularly until the move in date to make sure they do not cancel.



Athena Magruder
V.P. Operations
Mission Real Estate & Property Management Inc.
3600 Pegasus Dr #15 Bakersfield, CA 93308
www.MissionRE.com 
(661) 829-7839 

Successful Leasing and closing

Successful Leasing and closing

As we come into the slow season, you may have more vacancies than you anticipated.  How can you increase your closing ratio?  How do you bridge the gap between prospect and tenant?  I will be sharing some sales and closing techniques that will help you close your sales and assure that you are maximizing on every tour.

Most people are completely unaware how much their body language affects a sales pitch.  Within the first two seconds of meeting you, every customer will decide if you are a threat or a friend.  That is an incredibly limited window.  If this sounds a bit tribal, it is.  Humans are animals by nature and we still subconsciously relate to each other on this level.

You need to make sure that you are sending the right signals.  There are three ways to initiate contact with your customer that will put them at ease. 

1. Look them in the eye and smile.  A good trick is to discover their eye color. 
2. Point your heart toward them.  This will give you an open body language that is non-threatening
3. Synchronize your body language and speech with theirs.  Mirror their body language and pace of speech.  This sends powerful subconscious signals.

Now that you have their trust, how do you earn their business?  During a tour, make sure you are asking open ended questions.  Do your best to stay away from questions that have a yes or no answer (until the close).  A few examples are; “If I could find the perfect home for you, what would it be like?”, “Tell me what is most important to you in your new home.” or “Why are you choosing to move?”  These simple questions will get your prospect talking and give you the opportunity to match your products to their needs.  It also gives you clues for the correct closing technique.

The art of persuasion

There are proven persuasion techniques that you can use that will make you a more effective sales person.  Employing these techniques will increase your closing percentage and ensure that you have complete control of your guests.

1. Nodding your head yes.  This sends a subliminal message of agreement to the prospect.  When anything positive is being said, nod your head.  This creates a positive feeling that will be associated with what you are selling
2. Mirroring.  As stated above, this is a powerful subconscious tool that will put your prospect at ease and that makes for an easier sale.
3. Smiling naturally.  It has been proven that a smile fosters a positive reaction.  A prospect will get a good feeling from a smile and will associate that feeling with you and your product.
4. Have a firm handshake.  Nothing is worse than a limp noodle handshake.  Shaking someone’s hand sends a powerful message.  You will either come across ad confident and friendly, weak and timid or (NO!) unmemorable.
5. Have good eye contact.  Another technique that was mentioned above.  Always look someone in the eye when you are asking a question.  To avoid any awkwardness, look down occasionally to take notes.  This is of the utmost importance when closing.  If you are not looking in your prospects eyes it could come across that you are untrustworthy and not confident.
6. Voice Inflection.  This is a very powerful communication tool.  You should be using your full range of voice to emphasize various points of your conversation.
7. Use an assumptive attitude.  It is very important that you believe that everyone who walks in your door is leasing from you.  An effective way to do this is to use the possessive “you’re” to make the guest feel ownership of the apartment and community.
8. Repeat the prospects hot buttons.  During the tour you should be asking your tour what they are looking for in their new home.  These are the things that will get them excited about living in your community.  Nothing sells better than repetition.  Try to incorporate as many hot buttons as you can within your presentation.
9. Talking in word pictures.  Moving is an emotional experience.  Using descriptions will get your prospect to visualize an emotional experience.  It is your job to make your community sound like the ideal place for anyone to live.
10. Use open body language.  Your body language should be relaxed.  Never cross your arms.  Keep yourself open.  Make sure your body language says that you are approachable.

A Successful Close

Now that you have their trust and your prospect likes you, you need to close the sale.  This can be daunting to new leasing agents and even experienced managers can have difficulty closing.  To be successful, you need to master a few closing techniques.  Here are a few:

1. The Which Close.  “Which apartment will you be taking today?”
2. The Simply Ask Close. “So would you like to leave your deposit today?”
3. The Team Close.  Have another agent come in to your office after the tour, greet your prospects and it should go something like this: “Oh, you were looking at 105?  Isn’t it a great apartment?  I have a tour today at 4 for that same one.  Let me know if I need to call them and cancel.”
4. The Summary Close.  “So you liked the walk-in closet, you said the living room is the right size for your couch and the apartment is close to the pool….everything you were looking for.  Will you be leaving your deposit today?”
5. The Shortage or Urgency Close. “This is the only one bedroom I have left available.  I would love to take your holding deposit and take this one off the market for you.”
6. The Assumptive Close.  “Let’s head back to the office and I will get your paperwork drawn up.”
7. The Incentives or Special Close.  Never tell a prospect over the phone what your leasing special is.  This is a closing tool.  “You know, this apartment has a look and lease special.  If you lease today, you will receive $100 off your first month’s rent.  Would you like to leave your deposit today?”

Must Know Closing Tips

1. A.B.C. This acronym stands for “Always Be Closing” It’s important to remember that you are always aiming towards a close.  This does not mean that you should be battering your prospect to death with a barrage of unsubtle closing techniques however.
2. Silence.  When you have used a closing technique, be quiet afterwards and let the prospect respond.  If you keep talking you may miss what they have to say.  Yes for example.
3. Be observant.  Always pay attention to the body language that your prospect is showing.  By the way they are reacting to your presentation will let you know if they are interested in leasing or not.
4. Over-Closing.  It is not unheard of for an over-eager agent to close a prospect and then talk them right back out of it.  Don’t over-do it.
5. Be confident.  Be very deliberate with your words and actions and speak with conviction.

 Successful leasing and closing take practice and confidence.  Sometimes taking your manager or another agent on a tour will help prepare you for a prospect.  If you are experiencing a slump in your closing, have another associate come along and critique your sales pitch.  They just might find the one thing that you are doing subconsciously that is killing your closing ratio.

Happy Leasing!

Athena Magruder

VP Operations

Mission Real Estate & Property Management, Inc.
 3600 Pegasus Dr #15 Bakersfield, CA 93308

http://www.MissionRE.com