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Reading Room Articles
Research tells us that an average apartment shopper will begin their search for a new apartment home at least six weeks in advance, sometimes longer. The average apartment shopper will also visit 8-10 apartment communities, then revisit one or two communities 3-4 times before making a decision to lease! Therefore, in today's highly competitive marketplace, it is critical to keep your community name in front of every apartment shopper that has visited your leasing teams. Bottom line…your leasing teams must have an organized system of follow-up to maximize their closing success! The first step to implement an organized follow-up system is to update the guest cards being used by your leasing teams. Examine your current guest cards and be sure a space is included for a prospect's cell phone number and E-mail address. Then, have your leasing teams start their follow-up program by obtaining a fully completed guest card from each and every future resident that visits their apartment community. A very important, yet often overlooked step in the follow-up process, is to have each member of your leasing team "ask permission" from each prospect to follow-up or keep in touch! Next, ask your leasing teams to create their own individual filing system for their guest cards. With your teams, help them choose either a traditional-sized guest card, combined with a file box system representing the months January through December. Or, they might like to use a newly developed 8-1/2x11 guest card, combined with a three-ring binder and monthly tabs to organize their guest cards. Lastly, have your leasing teams file their guest cards by projected move-in month alphabetically, according to their prospect's last name. In addition, many leading property management companies are using contact management software programs such as ACT, Goldmine, or other customized software programs to organize their follow-up process by computer. 24 Seconds Within 24 seconds after a prospect leaves an apartment community you own/manage, make sure each member of your leasing team sends a personalized, handwritten thank-you note to every future resident, inviting them to become a new resident! By implementing the 24-second rule, your leasing teams will recognize the importance of writing a personalized thank-you note immediately after their prospect's visit. This will allow your leasing team to remember the personal information their prospect shared with them while it's still fresh in their mind. Plus, it's much easier to write one personal thank-you note at a time than to be faced with the challenge of playing catch up with writing multiple thank-you notes all at once! 24 Hours Within 24 hours, have your leasing teams contact each future resident by telephone or E-mail and have them continue to stay in touch until this prospect makes a decision to lease at your community or somewhere else. In addition to keeping in touch by telephone or E-mail, instruct your leasing teams to mail a copy of their latest community newsletter or calendar of resident events to each prospect that is still undecided. 36 Hours As an executive with your property management company, send a personalized thank-you note on your company letterhead within 36 hours, to every future resident that visits your apartment communities. This personalized follow-up letter speaks volumes about you and your company's level of professionalism. In addition, it sends a message to each future resident that you really care and your letter may prove to be the one deciding factor that entices a prospect to return and lease at your community! An organized, consistent follow-up program requires a good amount of discipline, but the rewards more than justify the time spent on this powerful strategy. Effective follow-up systems can increase the closing ratio of your leasing teams by as much as 48 percent! Are your leasing teams willing to implement the 24-second rule and watch their closing success soar? Remember…in today's fast-paced world, our methods of communication are faster and easier than ever before. The benefits are enormous, but nothing takes the place of a good old fashioned, handwritten, personalized thank-you note that says "I took the time to sit down and write a personal note of thanks...I am a caring human being!" Want to hear more about effective follow-up strategies or request an example of the newly formatted 8-1/2 x 11- guest card and three-ring binder follow-up system? Send an E-mail to morsea123@aol.com or fax a note to (614) 761-8587. Author's note: Patty Morgan-Seager, president of Patty Morgan-Seager and Associates, Inc., is an national speaker and coach who designs custom training programs for the multi-housing industry as well as other sales and servicing organizations. She is former national sales trainer and regional director for HPC Apartment guides and is know for her genuine enthusiasm, professionalism, and unique ability to motivate her clients to achieve their highest potential. Patty can be reached at (614) 761-2567 or by E-mail at morsea123@aol.com. 
To read more articles from this author please visit www.smmonline.com.The Sales & Marketing Magic Companies, shares more than 20 years of experience in multifamily housing, encompassing leasing, marketing, management, training, authoring, consulting, developing, and Brainstorming! For more information on , Sales & Marketing Magic for Apartment Managers; the latest Tools & Forms Catalogue; The Annual Multifamily Housing Brainstorming Sessions™; or to receive top ideas, FREE, via e-mail, please call 727-784-9469 or visit www.SMMOnline.com. |
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