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Keys to Success in LeasingNational Apartment Leasing ProfessionalParticipant GuideKnowledge of the competition is very valuable when a prospective resident mentions havingvisited (either in person or via the Internet) a competitive apartment community. By beingprepared and understanding the competition, a successful Leasing Professional will alreadyhave a good understanding about precisely what information the prospective resident hasgleaned from the competitive community. This knowledge of your market will help youovercome objections and counter positive points the competing property may have made.The amount and type of information you will need to have about your competitors variesfrom company to company. However, one useful activity is to develop a notebook on eachof your competitors. This notebook can include newspaper ads, brochures, and othermaterials distributed by the competitor, plus photographs of key aspects of the community'sappearance that you may have taken yourself. You should also include information aboutthe various apartment types (floor plans), amenities, fees, rents, and other features thatmight compete with those offered at your community. When you have successfully gatheredthe necessary market information, you will have greater confidence in your own product andyour presentation to a prospective and renewing resident.When you prepare your Market Survey Presentation, you will apply this Market Knowledgeto the competing properties you review. In each of the three competitors you will shop,knowledge about pricing, unit types, amenities and neighborhoods will help you determinethe strength of your competition and what response, if any, is required of your own propertyto maintain its competitive edge.Define Product Knowledge:There are three basic areas of Product Knowledge that a successful Leasing Professionalmust have and use:1. Detailed knowledge of the apartment homes themselves;2. Thorough knowledge of the apartment community, including its residents; and3. Extensive knowledge of the neighborhood in which the apartment community is set.Product Knowledge helps the Leasing Professional in many ways. 2013 National Apartment Association Revision 121327

Telephone PresentationsNational Apartment Leasing ProfessionalTelephone Skills Self-EvaluationParticipant Guide(Please circle the appropriate answer)In all telephone conversations:Do you always answer the telephone with a cheerful greeting?YesNoDo you include your name and the name of your community?YesNoDo you always have writing implements, note pads, andimportant information at your fingertips?YesNoDo you give the caller your complete and undivided attention?YesNoDo you project a pleasant smile through your voice?YesNoDo you get the caller’s name and contact information?YesNoWhen an interruption occurs, do you give the caller anYesNoexplanation before you put them on hold?When asking callers to “hold” do you wait for a response beforeputting them on hold?YesNoDo you leave the caller on hold for more than 60 secondsat a time?YesNoDo you wait for the caller to hang up the receiver before you do?YesNo 2013 National Apartment Association Revision 12137

Telephone PresentationsParticipant GuideNational Apartment Leasing ProfessionalWhen speaking to a prospective resident:Do you create a positive mental picture of your apartmentcommunity for callers so that they will want to visitand see it for themselves?YesNoDo you try to schedule a definite appointment by providinga choice of times?YesNoDo you find out how the prospective resident heard about yourcommunity?YesNoDo you get the resident’s name, address and telephone number,as well as any other pertinent information, such as the type ofrepair needed?YesNoDo you try to isolate the nature and exact location of the serviceproblem?YesNoDo you try to contact the resident if the repairs will be delayed?YesNoDo you thank the resident for bringing the problem to yourYesattention?NoDo you let the caller know that you will follow through until theproblem is solved?NoWhen accepting a service request:8Yes 2013 National Apartment Association Revision 1213

Telephone PresentationsParticipant GuideNational Apartment Leasing ProfessionalVoice InflectionDuring communication, only 7% of the meaning is derived from the actual spoken words.The rest is derived from non-verbal communication. Clearly, inflection is an extremelyimportant part of telephone communication.Empathic ListeningLet's learn a little more about Empathic Listening and how it builds outstanding communication in all aspects of operating the propertyPerhaps as important as speaking is listening. Successful Leasing Professionals need tobe good listeners if they are to do well with the wide variety of people who make telephoneinquiries about apartment communities.Empathic: ACTIVITYTop 10 Ways to Improve ListeningWith the instructor, complete the following sentences.1. Work2. Pay3. Make4. Be12 2013 National Apartment Association Revision 1213

Telephone PresentationsNational Apartment Leasing ProfessionalParticipant Guide5. Listen6. Concentrate7. Ask8. Do not9. Concentrate10. Jot 2013 National Apartment Association Revision 121313

Telephone PresentationsNational Apartment Leasing ProfessionalParticipant GuideInitial Leasing QuestionsOf all the questions that are asked of Leasing Professionals on the telephone, the initialquestion is probably the most important, as it sets the tone for the remainder of theconversation. Successful Leasing Professionals know that you should not give pricinginformation the first time you are asked, but should instead, begin a dialogue with theprospective resident that begins the relationship leasing process.What are the most common “initial questions” you receive at your community?What is your typical response to these questions? 2013 National Apartment Association Revision 121321

Telephone PresentationsNational Apartment Leasing ProfessionalParticipant GuideWhat's Wrong with this Telephone Call?Providing the price when asked initially by the caller does nothing to build the relationship.Take a look at the following call scenario:Leasing Professional: “Good morning. Macie Manor Apartments. Thank you for calling.This is Jenna.”Prospective Resident: “Do you have any one bedroom apartments available?”Leasing Professional: “Yes we do.”Prospective Resident: “How much are they?”Leasing Professional: “They start at 425.”Prospective Resident: “Okay. What are your office hours?”Leasing Professional: “Nine to five, Monday through Saturday.”Prospective Resident: “Okay. Thank you.”CLICK (The Leasing Professional hangs up the telephone.)Prospective Resident: “Wait a second.I’ve got one more question! Hello?”CLICK (The prospective resident hangs up the telephone.) 2013 National Apartment Association Revision 121323

Telephone PresentationsParticipant GuideNational Apartment Leasing ProfessionalHow many objectives were satisfied?What did the Leasing Professional learn about the caller’s needs in the conversation?How could the Leasing Professional have made this call more successful?How often have they (participants) acted in the same fashion as the LeasingProfessional in the example?Remember, the key is to begin to build a relationship with the prospect!Scenario #1Prospect: “I was just over at Happy Hills Apartments across the street and they have agreat lap pool, tennis courts, a huge fitness center and a business center. The apartment Isaw had built-in bookshelves, three ceiling fans and new appliances. Can you beat that?”(In this situation consider that you have less of an amenity package)How often will you actually use the pool, tennis courts, etc?Did I mention there's a Community Center just one block from here that you are welcometo use?We are really committed to serving our residents. Did you ask about their service?24 2013 National Apartment Association Revision 1213

Telephone PresentationsNational Apartment Leasing ProfessionalParticipant GuideScenario #2Prospect: “You just quoted me a price that seems sort of high. You’re the third place I’vecalled today and there are some pretty good deals out there. Don’t you have some kind ofa special?” (In this situation consider that you have a competitive program but not thebiggest special.)Key Elements of a Successful Leasing PresentationThe successful Leasing Professional realizes that the leasing presentation begins themoment the telephone is answered. The prospective resident begins to develop feelingsabout the Leasing Professional and the apartment community and begins to measure thesefeelings against emotional needs and wants. Remember, “People buy from people they like.”There are three elements of an effective leasing presentation. They are highly useful in helpingLeasing Professionals organize their telephone presentations. The three categories are:1. Persuade: Make the caller feel important, that they are genuinely liked. How can youpersuade callers to feel important when they call your community?2. Inform: Know your product and provide strong reasons for living at your community.How can you convey strong reasons for living at your apartment community?3. Enthuse: Convey enthusiasm and belief in your community. Remain prospect-orientedat all times. How can you convey enthusiasm and belief while remaining prospect-oriented?Remember PIE: Persuade, Inform, Enthuse. 2013 National Apartment Association Revision 121325

Telephone PresentationsParticipant GuideNational Apartment Leasing ProfessionalConducting Follow-UpThe effective Leasing Professional always follows up a request for service with a telephonecall to the resident to make sure the resident is satisfied.It is an equally sound idea to follow up another time if the Leasing Professional sees theresident on the grounds. Such attention reminds the resident that their problems areimportant and the apartment staff is there for service requests.Handling Irate CallersList the most frequent causes of telephone calls from irate residents at your community:On average, the most frequent causes of irate calls are:While there is no good reason for tolerating an abusive caller, there are many good reasonsto empathize with a resident's situation in life. Treat the irate caller with dignity and theLeasing Professional will be rewarded at some later date with a “Thanks!” or “I'm sorry” orsome similar acknowledgment that the caller was indeed having a bad day.32 2013 National Apartment Association Revision 1213

Leasing and the InternetNational Apartment Leasing ProfessionalParticipant GuideTypes of Internet SitesFill in the blanks while the instructor leads a discussion.A well-designed Internet ad carried by an ILS offers the following:1. The ability to reach people both.2. The ability to reach more people since ILS’s purchase “hit by the major search engines such as Google and Yahoo.”3. The ability to instantly make changes to the adinformation fresh with the ability to highlight specials and current pricing.4. The ability to showcase all of the property5. Access, keepingand floor plans.a day, 7 day a week virtual leasing office.6. Flexible product options that can includeand their property-specific Web sites.7. Ease of trackingto companiesby specific ILS source.Visits to apartment search sites tripled from 2004 to 2007. On average, users hit 3 to 5 ofthe major ILS’s in their apartment search. Major sites and/or members of the NAA NationalSuppliers Council craigslist.orgMoveforfree.com 2013 National Apartment Association Revision 12139

Leasing and the InternetNational Apartment Leasing ProfessionalParticipant GuideThe Internet ProspectIn 2009, the U.S. Internet population will grow to nearly 200 million users, or 65% of thetotal population. By 2013, 221 million people will be online, nearly 70% of the population.The National Multihousing Council (NMHC) reports that 88% of apartment residents saythat, if they were given the option, they would use the Internet to look for an apartment andfill out an online application – all before visiting the community.1. What does this tell you about Internet advertising?2. Describe today’s renters:3. What is a “lifestyle” renter? 2013 National Apartment Association Revision 121311

Leasing and the InternetParticipant GuideNational Apartment Leasing ProfessionalMulti-Generational RentersWho are today’s renters? Based on the descriptions below, describe what would appeal tothe corresponding demographic:1. Millenniums – Teens to late 20’s. This group makes up 20% of Internet users. They arethe largest population in U.S. history. Millenniums are tech savvy.2. Generation X – 30's to 40's. This group makes up 37% of Internet users. They arehonest, straight forward and are looking for work/life balance. Xers seek value.3. Baby Boomers – 40’s to 60’s. This group makes up 45% of Internet users. They havehigh standards, are price sensitive, and are parents of potential renters.4. Immigrants and first generation Americans. The largest demographic increase isHispanic and Asian. The increase in renter households will be 1.8 million by 2015.12 2013 National Apartment Association Revision 1213

Leasing and the InternetNational Apartment Leasing ProfessionalParticipant GuideThe Guest CardAs our prospect changes, we must respond in terms of the tools we use to supportand enhance the experience of the prospect and the professionalism of the LeasingProfessional. One of the most important and basic tools in a “toolkit” is the Guest Card.Activity: Update Guest CardKnowing that today’s renters have greater demands on their time than renters of five yearsago, it is important to determine whether this information on the Guest Card is sufficient fordeveloping a relationship with a prospective resident?Directions: What would you change on this Guest Card to make it more e:Zip code:Size apartment needed:Number of occupants:Pets:Breed:How did you hear about us? Please choose one of the following sources:Apartment publicationNewspaperReferralInternet 2013 National Apartment Association Revision 121313

Leasing and the InternetParticipant GuideNational Apartment Leasing Professional1. What changes would you make to the Guest Card?2. How do you feel about asking prospective residents for additional information?3. Describe how you would ask a prospect for additional information.Tracking Internet TrafficOne of the greatest challenges to owners and managers is ensuring that employees aretracking leasing traffic effectively.Lead TrackingRecord phone calls: When someone calls in, put it into a calendar to follow-up within24 hours and it pops up to remind you (can integrate with Microsoft Outlook). Use thecalendar system in Lead Tracking.Use it as a tracking system: How many leads from what sources, how many tours,and whether prospects rented.With all of the internet ads' we use, there are also products that help us update andtrack content changes (like pricing and pictures.) Rent Sentinel is one company thatoffers a product like this. This program is also used to post and track ads on craigslist.14 2013 National Apartment Association Revision 1213

Leasing and the InternetNational Apartment Leasing ProfessionalParticipant GuideAnswer questions 1–4 below. Be prepared to share your answers.1. In what ways did you improve the Guest Card for tracking purposes?2. Why is “Internet” an insufficient category?3. Why is “apartment publication” an insufficient category?4. Where else might prospective residents find information about a community on theInternet? 2013 National Apartment Association Revision 121315

Leasing and the InternetNational Apartment Leasing ProfessionalParticipant GuideSample Monthly Lead ReportFrom online apartment publication, Apartments.com:Sunshine PropertiesMonthly Activity ReportSunrise Properties1020 Sunshine Ave.Any City, ST, 60606FAX: 312-651-2622To:Property ManagerApartments.com is pleased to present the activity report onyour Apartments.com advertisement. The following informationwas recorded in our database from June 01, 2009 to June30, 2009.Apartment Prospects Viewed:Your community in the Search Results page:Pages of your community’s advertisement:123 times501 times624 timesApartment Prospects Contacted You ThroughHot Leads:Via fax or e-mail20 timesVia your toll-free number25 times45 total leadsPlease contact our Customer Service department at888-658-RENT with any comments or questions you mayhave regarding your Apartments.com advertisement.Sincerely,Apartments.com Customer ServiceThis is the number of times yourcommunity met the prospect’ssearch criteria such as price,amenties, etc.Since your ad generally hasseveral pages, this numberindicates that a large number ofindividuals not only saw your ad,but looked at it in depth.Requests for additional informationare generally sent via fax or e-mailThis represents the total number ofe-mails and faxes you received forthe month.Most online apartment publicationsprovide your community with atoll- free number for prospects.This number represents thenumber of calls you received onthat toll-free number.This number represents the TOTALnumber of leads you received atyour office from your onlineadvertisement.Note: If a community is listed with one of the online locator services, it is important to listthe service under the “Internet” section of the guest card. Get updated lead report. 2013 National Apartment Association Revision 121319

Leasing and the InternetParticipant GuideNational Apartment Leasing ProfessionalRead the following Facebook post and discuss what you would doin response.Happy Lane Apartments has recently switched water billing companies and found out thatthe previous company was not keeping up with the water rate changes. The first bill theresidents received from the new company reflected the new rates and was drasticallyhigher. Many residents were upset and some even decided to voice their anger onFacebook.Here is a post from a resident. After reading please write what you would do once younotice this post on your com

Keys to Success in Leasing National Apartment Leasing Professional Participant Guide 19 Steps for Planning Goals How can a successful Leasing Professional improve performace? By setting goals. Define "goal": A goal should be: S M A R T Using the headings listed above, write at least two specific professional goals under each category. Daily .