Science and Psychology of Apartment Leasing

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
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!

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

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

Do you have Target Apartments?

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

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

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

And we
practice
“Relationship
Leasing”

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.

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

• 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

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 product.
• University of Chicago

Incorporate emotion into your presentation.

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

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

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.

76% of people say they
feel more open and
friendly towards someone
after they shake their
hand

Transition of Needs
Three Step Process:

The Establishing a
prospect’s need for one Your needs
needs another

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

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? 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?”

Thanks for looking!

• If you share, please attribute the
information.

• Lisa Trosien
• ApartmentExpert.com
• 630-898-8898

Science and Psychology of Apartment Leasing

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