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The
 Science
   and
Psychology
of Leasing
     Presented by Lisa Trosien
       ApartmentExpert.com
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
  goldfis...
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
                     SatisFacts Index: Insite™ Unclosed...
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 porta...
So Why Do We Do This?
Or this?
Or this?
And we
  practice
“Relationship
  Leasing”
Essential
Qualities
GOALS
                        Written Goals
I will not date
residents.

I will accurately
report my traffic.
             ...
Vulnerability

• Allowing yourself
  to be vulnerable
  helps the other
  person to trust
  you.
• Lays groundwork
  for f...
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 Power of the Pause


• Show respectful/quiet
  reflection
• Prospect will feel
  complimented
• You are raising your
 ...
Body
Language
I’m not afraid
of you at all.   I’m afraid of
I’m Steve        Steve Jobs
Jobs.
Emotional Anticipation


• People buy because of the way they
  anticipate feeling as a result of
  owning and using your ...
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...
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
v...
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     Establishing a
prospect’s need for one Your needs
  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 aggravat...
Landscaping/lighting


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

 White indicates cleanl...
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 s...
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
...
Believability
Are you believable?              Or not?


• “I’m so glad you called        • “Our two bedrooms range
  toda...
Leasing is sales.
The
 Science
   and
Psychology
of Leasing
     Presented by Lisa Trosien
       ApartmentExpert.com
Thanks for looking!

• If you share, please attribute the
  information.

• Lisa Trosien
• ApartmentExpert.com
• 630-898-8...
Science and Psychology of Apartment Leasing
Science and Psychology of Apartment Leasing
Science and Psychology of Apartment Leasing
Science and Psychology of Apartment Leasing
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Science and Psychology of Apartment Leasing

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Program on the science and psychology of leasing presented by Lisa Trosien at the 2010 National Apartment Association's Education Conference in New Orleans, Louisiana.

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Transcript of "Science and Psychology of Apartment Leasing"

  1. 1. The Science and Psychology of Leasing Presented by Lisa Trosien ApartmentExpert.com
  2. 2. It‟s getting harder and harder to sell these days…
  3. 3. We‟ve become distracted by bright, shiny objects
  4. 4. • The addictive nature of web browsing can leave us with an attention span of 9 seconds… the same as a goldfish.
  5. 5. We‟re drowning in YouTube videos, Linked In requests, Facebook Friends, Email and iPhone apps.
  6. 6. Is it any wonder people are committing social media „suicide‟?
  7. 7. But if some of the pieces fall into place…we just might buy!
  8. 8. So, lets talk about you.
  9. 9. Do any of your Leasing Pro‟s „have them at hello‟?
  10. 10. Do your people project an image that creates confidence in the prospect?
  11. 11. Make me feel special!
  12. 12. Do you have Target Apartments? And if you do, is that good? Or bad?
  13. 13. 2009 SatisFacts Index: Insite™ Unclosed Prospects 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
  14. 14. Does your leasing center resonate with positivity?
  15. 15. When you say ‘sales’, do your people think of this?
  16. 16. Today‟s Renters are Sophisticated • Real time availability • Online leasing & renewals • Resident portals • Credit card acceptance • LEED Certified buildings
  17. 17. So Why Do We Do This?
  18. 18. Or this?
  19. 19. Or this?
  20. 20. And we practice “Relationship Leasing”
  21. 21. Essential Qualities
  22. 22. GOALS Written Goals I will not date residents. I will accurately report my traffic. • Only 3% of I will not flirt with adults use goals residents. • Those who do = I will lease one apartment a day. Most successful I will not spend all day on Facebook.
  23. 23. Vulnerability • Allowing yourself to be vulnerable helps the other person to trust you. • Lays groundwork for faster, closer personal connection.
  24. 24. Focus/Intentionality • Make helping the customer find the perfect apartment be the focus of your sale.
  25. 25. Let people talk about themselves
  26. 26. Empathic Listening
  27. 27. 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.“
  28. 28. The Power of the Pause • Show respectful/quiet reflection • Prospect will feel complimented • You are raising your prospect‟s self esteem
  29. 29. Body Language
  30. 30. I’m not afraid of you at all. I’m afraid of I’m Steve Steve Jobs Jobs.
  31. 31. Emotional Anticipation • People buy because of the way they anticipate feeling as a result of owning and using your product. • University of Chicago
  32. 32. Incorporate emotion into your presentation.
  33. 33. Low Risk Provider
  34. 34. Risk • People like to feel SMART about their buying decision. • People are naturally risk- averse.
  35. 35. Risk • Give enough information so the renter can make a confident decision, without distractions
  36. 36. The Power of Similarity • Model furniture • Overall décor • Leasing professional wardrobe • Hotel badges • Bill Gates
  37. 37. Creating “Like”
  38. 38. Variations: Hometown; years experience, favorite color; etc.
  39. 39. Mirroring
  40. 40. Repeating • Wait staff who repeated customers orders received 70% higher tips than others
  41. 41. Consensus • Use testimonials in your leasing office, in your model…anywhere you can in your sales environment.
  42. 42. Reciprocity • People say „yes‟ to those they owe. • Robert Cialdini, “Influence”
  43. 43. •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.
  44. 44. The handshake
  45. 45. 76% of people say they feel more open and friendly towards someone after they shake their hand
  46. 46. Transition of Needs
  47. 47. Transition of Needs Three Step Process: The Establishing a prospect’s need for one Your needs needs another
  48. 48. Sales Environment
  49. 49. Resonance
  50. 50. Resonance • Leasing office atmosphere is crucial • We tend to match the mood of those around us.
  51. 51. Products that smell good have higher perceived value Smelly Apartment Scented Apartment
  52. 52. Scent Lavender and Chamomile: Release serotonin, which calms fears and helps relieve aggravation and stress
  53. 53. 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.
  54. 54. Don‟t Pounce!!! • 12 foot „decompression zone‟ acclimates to a new environment • Visuals ignored in this zone
  55. 55. Establish Standards
  56. 56. Selling an apartment Telephone, guest card, demonstrating, closing Yes! Some parts of your sales need to be scripted!
  57. 57. Cutting Down on No Shows • Will you please call me if you have to cancel?
  58. 58. “Selling” the Guest Card • “In order to help me find you the perfect apartment home, I need to ask you a few questions, okay?”
  59. 59. Believability Are you believable? Or not? • “I’m so glad you called • “Our two bedrooms range today. I love helping people from $750 - $800 find a new home. I just depending upon floor plan, need to ask you a few location and view. “ questions to help me do that, okay?”
  60. 60. Leasing is sales.
  61. 61. The Science and Psychology of Leasing Presented by Lisa Trosien ApartmentExpert.com
  62. 62. Thanks for looking! • If you share, please attribute the information. • Lisa Trosien • ApartmentExpert.com • 630-898-8898
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