In the dynamic landscape of multifamily residential leasing, a staggering revelation has emerged—less than 30% of leasing agents delve into the crucial question of "WHY" when people are on the move. This revelation surfaced during a recent conversation with a regional director who highlighted the challenges faced by sales teams in the post-pandemic era.
In this high-stakes environment, people exhibit impatience, heightened tension, and a guarded demeanor, creating an unexpected hurdle for leasing professionals. The gravity of this issue struck me as I prepared to create a video lesson addressing these challenges, leading me to uncover a significant problem in the leasing world.

According to the Q3-2023 Industry Report Card by LeaseHawk (Source: Link) a mere 27.52% of leasing professionals attempted to determine why the caller is moving. Even worse, they score this benchmark YES if the caller volunteers the information. This statistic is not just surprising; it's downright unbelievable!

Tension thrives in high-stress environments; building trust is the only way to remove it in sales. How can I trust you if you are not listening to me or asking me questions about my situation and why I'm even calling as a potential resident? If you don't know, I'm moving because my current neighbor has a loud barking dog, and you begin to laundry list amenities and sell me on the dog park, I'm out! Determining the why for the move is a critical Key Performance Indicator (KPI) for sales teams navigating the challenges.

As someone who spent nearly five years working on-site, my success was not accidental—it was driven by meticulous efforts to build rapport, ask the right questions, and understand each prospect. Maintaining an overall LeaseHawk TPA score above 99% for my career shows that I was obsessed. We had 26 benchmark questions when I was on site, and many salespeople I've trained have done well on phone call performance because they know what is possible through my metrics. It's no secret that asking the right questions every time makes raising occupancy easier.

In the face of challenges, it becomes evident that the three Ps—Product, Promotion, and Price—lie at the core of any issues when the P-People max out KPIs related to effort. My focus has always been on executing our jobs with unmatched effort. The effort, to me, is the secret sauce that drives success in the industry.

While I have no affiliation with LeaseHawk, I am so grateful for the Telephone Performance Tool (TPA) tool. This tool allowed me to micromanage my performance, ensuring excellence. When I traveled to assist other properties that didn't have LeaseHawk, you better believe I had my call cheat sheet and used it on every call. I don't care if the call is recorded or scored; the prospects always score us!

The crux of the matter is clear—if your sales team is grappling with challenges presented by hard, tense, impatient, or stressed clients, it's time to acknowledge the realities of the moving process. Moving is synonymous with stress and demands empathy and understanding.

In a video accompanying this post, I dive into strategies to reduce tension and desperation, emphasizing that coaching is imperative for sales and leasing professionals. It's wild how operational leaders often point fingers at sales when performance drops, yet few invest in training and coaching for their teams.

In conclusion, the overlooked " WHY " question is key to transforming the leasing landscape.

Me: "Why haven't you rented somewhere else yet? You said you looked all around; what was it about those places that made you leave without placing a deposit?"
Prospect: "They said they were luxury, but when I looked, they were dirty and outdated."

Me: "You mentioned that you work from home. Why are you looking at the smallest one-bedroom?"
Prospect: "I was in a rush and just called and asked about the first one I saw."
Me: "OK, great! It happens all the time, and I'm glad I asked. We can go over that style and show it to you during your appointment, but after talking to you and doing this for so many years, we should look at the one bedroom with a den. It's under your max price, and since they don't come available that often, it would be a disservice not to show you and give you the choice of the two. Like I said, the one-bedroom is great. The layout is open, and the one I have available has a great view. However, the den has an equal view of the same living layout, but that den will give you some separation in your work-life balance."
Prospect: "I want that one. Can I come in on Saturday?"
Me: "You can! But it is Monday, and I doubt it will stay available that long. You can fill out the application and place a deposit sight unseen to protect it, or we can schedule a video walkthrough at 2 pm today. Which would you prefer?"

By understanding the motivations behind a move, asking questions, and building TRUST, sales professionals can navigate the challenges of the post-pandemic world with finesse, ultimately driving success and exceeding industry standards.

You can keep things the way they are, or you can give me a call and start dominating your competition. Which would you prefer?

Book it!