The Science

and Psychology of Leasing

Presented by Lisa Trosien

ApartmentExpert.com

630-898-8898

It‟s getting harder and harder to sell

these days…

We‟ve become distracted by bright,

shiny objects

• The addictive nature

of web browsing can

leave us with an

attention span of 9

seconds…

the same as a

goldfish.

We‟re drowning in YouTube videos,

Linked In requests, Facebook Friends, Email and iPhone

apps.

Is it any wonder people are committing social media „suicide‟?

But if some of the

pieces fall into

place…we just

might buy!

So, lets talk about you.

Do any of your Leasing Pro‟s „have them at hello‟?

Do your people project an image that creates confidence in the prospect?

Make me

feel

special!

Do you have Target Apartments?

And if you do, is that good? Or bad?

2009 SatisFacts Index:

Insite™ Unclosed Prospects

All Prospects: 2009

Have you rented a new apartment since you visited this community? 45%

Have you rented a new apartment at this community? 43%

Prospects Who Either Rented Elsewhere or Have Not Rented A New Apartment Yet:

With regards to the leasing consultant, how satisfied were you in terms of…

Being courteous, friendly and professional 4.24

Asking questions to determine your needs 4.03

Adequately answering your questions 4.09

The information shared about the apartments 4.09

The information shared about the community’s amenities and services 4.13

Trying to help you find a home that met your specific needs 3.89

Overall, in terms of their presentation 4.05

How satisfied were you with the…

Appearance of the community 4.02

Appearance and features of the apartment home 3.87

Location of the community 4.02

Rent and value that you’d receive for that price 3.41

How likely to rent at this community in the next six months? 3.11

Overall Satisfaction 3.98

Scoring Key:

Very Likely (4.00+), Likely (3.01-3.99), Nei ther Likely nor Unl ikely (3.00), Unl ikely (2.01-2.99), Not At Al l Likely (below 2.00)

Figures shown are the percent of respondents responding "Yes"

©SatisFacts Research (www.SatisFacts .com)

Satisfaction Five Point Rating Scale:

Likelihood Five Point Rating Scale:

SatisFacts Index: Insite™ Unclosed Prospects

Exceptional (4.50+), Superior (4.00-4.49), Average (3.50-3.99), Warning (3.00-3.49), Red Flag (below 3.00)

Percentages:

Does your leasing center resonate with positivity?

When you say ‘sales’, do your people think of this?

Today‟s Renters are Sophisticated

• Real time availability

• Online leasing & renewals

• Resident portals

• Credit card acceptance

• LEED Certified buildings

So Why Do We Do This?

Or this?

Or this?

And we practice

“RelationshipLeasing”

Essential Qualities

Written Goals

• Only 3% of

adults use goals

• Those who do =

Most successful

I will not date

residents.

I will accurately

report my traffic.

I will not flirt with

residents.

I will lease one

apartment a day.

I will not spend all

day on Facebook.

GOALS

Vulnerability

• Allowing yourself

to be vulnerable

helps the other

person to trust

you.

• Lays groundwork

for faster, closer

personal

connection.

Focus/Intentionality• Make helping the customer find

the perfect apartment be the focus

of your sale.

Let people talk about themselves

Empathic Listening

Empathic Listening

• Practice Empathic Listening

– "Uh-huh," "I see."

– head nodding, facial expressions matching the speaker, open and relaxed body expression, eye contact.

– "Tell me about it," "I'd like to hear about that.“

The Power of the Pause

• Show respectful/quiet

reflection

• Prospect will feel

complimented

• You are raising your

prospect‟s self esteem

Body Language

I’m afraid of

Steve Jobs

I’m not afraid

of you at all.

I’m Steve

Jobs.

Emotional Anticipation

• People buy because of the way they anticipate feeling as a result of owning and using your product.

• University of Chicago

Incorporate emotion into your presentation.

Low Risk Provider

Risk

• People like to feel SMART about their buying decision.

• People are naturally risk-averse.

Risk

• Give enough information so the renter can make a confident decision, without distractions

The Power of Similarity

• Model furniture

• Overall décor

• Leasing professional wardrobe

• Hotel badges

• Bill Gates

Creating “Like”

Variations: Hometown; years experience, favorite color; etc.

Mirroring

Repeating• Wait staff who

repeated

customers

orders received

70% higher tips

than others

Consensus

• Use testimonials in your leasing

office, in your model…anywhere you

can in your sales environment.

Reciprocity

• People say „yes‟ to

those they owe.• Robert Cialdini,

“Influence”

•Place a handwritten sticky

note on your leasing floor

plan/brochure.

•Write a personal note,

thanking the prospect for

visiting.

•Invite them to come back

and lease.

•Say “Thank you!” and add

your initials.

The handshake

76% of people say they feel more open and

friendly towards someone after they shake their

hand

Transition of Needs

Transition of Needs

Three Step Process:

The

prospect’s

needs

Establishing a

need for one

another

Your needs

Sales Environment

Resonance

Resonance

• Leasing office atmosphere is crucial

• We tend to match the mood of those

around us.

Products that smell good have higher perceived value

Smelly Apartment Scented Apartment

Scent

Lavender and Chamomile:

Release serotonin, which calms fears and helps relieve aggravation and stress

Landscaping/lighting

Lots of green: Sends message of coolness, freshness and vitality.

White indicates cleanliness and shows better at night

Yellow attracts attention since yellow is the first color our eyes can process.

Don‟t Pounce!!!• 12 foot

„decompression

zone‟ acclimates to a

new environment

• Visuals ignored in

this zone

Establish Standards

Selling an apartment

Telephone, guest card,

demonstrating, closing

Yes! Some parts of your

sales need to be scripted!

Cutting Down on No Shows

• Will you please call me if you have to

cancel?

“Selling” the Guest Card

• “In order to help me find you the perfect

apartment home, I need to ask you a few

questions, okay?”

Believability

Are you believable?

• “I’m so glad you called

today. I love helping people

find a new home. I just

need to ask you a few

questions to help me do

that, okay?”

Or not?

• “Our two bedrooms range

from $750 - $800

depending upon floor plan,

location and view. “

Leasing is sales.

The Science

and Psychology of Leasing

Presented by Lisa Trosien

ApartmentExpert.com

630-898-8898

Thanks for looking!

• If you share, please attribute the

information.

• Lisa Trosien

• ApartmentExpert.com

• 630-898-8898