Posted by Richard Farmer on Wed, Dec 30, 2009 @ 04:54 PM
We are all faced with call reluctance at one time or another in our sales careers. We all know that we need to prospect and make calls daily to generate new business. However, knowing and doing can be two entirely different things. The fear of calling can be a career ender for many sales people.
Let's take a look at what most Agents do when call reluctance hits. Most Agents take the worst possible action ... they avoid the calls. Are you avoiding the calls when call reluctance hits? The problem with that plan of action is that avoiding something out of fear only teaches you to fear it more.
Taking this plan of action only makes the challenge larger and harder. Your call avoidance only intensifies your anxiety, which leads to greater reluctance and greater avoidance. We have all lived this pattern, leading us farther down the slippery slope of call reluctance. How do you break this pattern of destruction? There is a five-step strategy to overcome call reluctance:
Strategy #1: Take Stock of Yourself and Your Skills
Most people who are chronic call reluctance sufferers are their own worst enemies. They are experts in all of their own faults and shortcomings. They see only their weaknesses, not their strengths. To be successful at prospecting over the phone, we have to have a clear sense of what we can provide to the prospect. Until we have a clear understanding of our value, we will never achieve comfort in prospecting over the phone.
The overcoming step is to evaluate what you have to offer the prospect. Take inventory of your skills and abilities. Understand your track record of results. Review your list of satisfied clients and the reasons why they're satisfied. 
- List the things you can do for the prospects.
- List the qualities that make you the person they should work with.
- List the specific benefits of your services.
Always have these lists ready by the phone. This way you can easily review them before you begin to call. You will also be able to use them during your call to convince the prospect to work with you.
Many of us are challenged because we see making a call to a prospect or even a cold opportunity as an unwanted interruption. By using this list, you can change your mindset to see that you are giving the prospect a valuable opportunity to be served by you. We need a new perspective of opportunity.
Strategy #2: Set Realistic, Achievable Daily Goals
We can easily get ahead of ourselves. By setting a daily goal that is realistic, we can create momentum. People who are challenged with call reluctance often believe that they need to make 20, 50, or even 100 calls a day to make a difference. Since they can't do that, they avoid even starting. Start with a small number you can commit to daily. We have seen Agents double their businesses in a year by making 5-10 contacts a day. A little goes a long way. Prospecting is like Brill Cream: a little dab will do you. It just has to be used every day.
Set manageable goals for each week, and then break them down into goals for each day. If you are struggling to hit the daily goal, break it down to each part of the day or even each hour if necessary.
Make it into a game. How many calls can I make before lunch or before my next appointment at 10:00 am? Make the target achievable. You want to achieve the feeling of accomplishment. When you achieve the goal, reward yourself. We call it celebrating the victory. Part of being effective in calling is learning to reward yourself along the way. The mouse wouldn't work as hard to get to the end of the maze if the cheese wasn't there. The reality is that we are no different. You have to create small rewards along the way.
Strategy #3: Control Negative Self-Talk
We all have an internal voice. Sometimes, that voice is our biggest fan and encourager. Other times, it feels like that little voice is chaining us to a cement block and pushing us into a deep river. That internal voice can challenge us for good or bad; it can criticize and chastise us, as well.
For those of you who are challenged by call reluctance regularly, this negative self-talk can be particularly aggressive. It can become almost hyperactive when you are preparing for a sales call. When you go to pick up the phone, the negative self-talk turns up the volume and intensity.
"They are going to reject you." "Why would they use you instead of these other Agents?" "Maybe there is another way to do this." "I should really be handling the problem transaction." "I need to do more research before I make this call."
Meet the challenge of the negative self-talk head on. If you do, the voice will get quieter, and after a few dials, it will go away completely.
If you are really struggling, write down what the negative self-talk is saying. By having it down on paper, you can refute what is being said in your mind. The only way to repel the voice is to create the responses that defuse the arguments. It's the difference between your thoughts controlling you, or you controlling your thoughts. You are in charge here.
The difference between you and the mouse is that you can change. The mouse will go back forever and look for the cheese. You know better than that. Take the steps to go a different direction for a newer, better opportunity.
Strategy #4: Visualize the "Perfect Call"
We often begin each call by envisioning rejection. We begin each call with the thought process, "I hope they're not home." Mentally, we are poorly prepared. Even if they are present, we may not be. Do you visualize them hanging up the phone in disgust, or is there a voice telling you they are happy to hear from you? We often have a horrible movie playing in our head. Those negative images are making the calls more difficult to execute.
We can create the outcome before we ever pick up the phone. Those negative visions create self-fulfilling prophecies. We get caught going through the motions without the results we desire. There are two key reasons we end up short of the outcome we planned for:
- The "negative visions" generate stress, and the mental stress blocks performance. We are preoccupied with the stress. We are waiting for the other shoe to drop, so we can be right. Henry Ford said, "If you think you can or think you can't, either way you are right." You will create the outcome you visualize.
- The "negative visions" are a rehearsal. The more you run the negative through mentally, the greater the probability of reproducing it in reality. Remember, practice doesn't make perfect ... only perfect practice makes perfect. All practice does is make it permanent. The mouse practiced going for the cheese even when the cheese was taken away.
We must visualize ourselves talking on the phone with confidence. We must have a "bring it on" attitude. We must visualize ourselves handling the objections efficiently and effectively, and we must visualize ourselves setting an appointment.
Strategy #5: The One-Call or Ten-Minute Strategy
It's really easy when you are in call reluctance to envision hours of calling and toiling on the phone. You believe that you are going to have to bear hours of rejection to generate one measly lead. Then you figure you might as well give yourself the day off, and you can make it up tomorrow.
Resolve, before you give up for the day, to make 10 minutes worth of calls. The truth is any of us can make the calls for just 10 minutes. When you have completed 10 minutes or a certain number of contacts, like two or three, you are free to quit guilt-free. You have "bought" your freedom for the day.
You have taken a big step to breaking through call reluctance. Do the 10 minutes and know you are progressing out of call reluctance.
The other thing you will discover is that the hardest part is behind you. You can tap into the momentum you have just created. I guarantee that the next dial will be easier and not feel or look so intimidating. You have started to control the negative self-talk. You can choose to continue on. This is the best commitment you could make and keep for yourself.
Call reluctance is real for every salesperson. There is no one who doesn't suffer from some form of call reluctance. If some claim they don't ever have it, just realize they must have deeper psychological problems to deal with. Apply the five steps today and work to overcome call reluctance.
Posted by Richard Farmer on Mon, Dec 21, 2009 @ 03:30 PM
If you have investment property which you've been hiring out, you might have had a taste of what is involved. Managing investment property on your own will definitely not be a pleasant experience especially if you already have a full-time job. Calls coming in at maybe 10:00 pm saying that the drainage is clogged or there is a problem with the toilet. It could be just about anything. But if you have hired the services of a company dealing in property management in San Diego then all such calls and many more will get routed to their property managers.
Hiring the best property managers gives you a lot of spare time to look for the next best deal when your property is being looked after. Before you select a company dealing in property management in San Diego you should check out the fees which may vary from place to place. They could be as low as four percent of the gross rents for bigger apartment buildings to as much as twelve percent when it comes to single family homes. Make sure that the fees are clearly stated in the contract and agreed upon.
While choosing from the San Diego property managers you would do well to pick one that has been handling property that is similar to yours. You could also drive by other properties that they have been managing and see for yourself whether it appears good. Also if you were to select a particular company dealing in property management in San Diego, find out who it will be that you will be interacting with. Check out how much experience he has in handling properties similar to yours.
Before you select a company, another thing you ought to find out is what other extra costs will be involved. Whether they will charge you extra fees for showing prospective tenants around your property or if they will charge you extra if there is need for evictions. You have to find out all this from the various San Diego property managers before you select the best one suited to your needs.
Discuss with your property manager as to how often and the way the rents will be collected. How often they will bill you is yet another thing you need to know or whether they will be deducting the fees directly from your account. Some of the companies dealing in property management in San Diego might advertise for your vacant units along with those of other people so the costs will be lower for you than if you were to do it yourself. They might do this in the local newspapers, magazines, on websites and even through newsletters.
You also need to know how much they will charge you for cleaning your property once it is vacant and the time it will take before you have a new tenant. Discuss with the San Diego property managers as to what requires the property owner's approval and the amounts up to which they can utilize without the property owner's authorization. Then only decide which company dealing in property management in San Diego you would like to choose.
Posted by Richard Farmer on Thu, Nov 19, 2009 @ 11:06 AM
I think it should be a requirement for people who work in the multifamily industry to rent an apartment, at communities they don't directly work at, for at least 5 years, moving at least once every 24 months. What would possess me to make such an outlandish request of my fellow industry compatriots?
One word: EMPATHY
Empathy goes a long way in making us adequate at our jobs. Without being able to see things from the other side of the leasing desk, we run the risk of not only alienating, but eventually also losing our residents and clients. Personally, I've moved several times in San Diego and relocated once to Nevada, and each time was a daunting task, and not just because of the 20+ boxes of books that I have accumulated over the years, but because moving, just the act of planning to move and trying to ensure that the execution goes well, is an incredibly stressful experience!
I've been told countless times that residents make their decision to renew with in the first 48 hours of moving in to their new apartment. This means that it doesn't count how good your tour went with them anymore. If you can't deliver the goods wrapped up in amazing service when they come toting boxes, you might as well have not even rented that apartment. What you have in that moment on move-in day is a second first impression.
Please don't confuse my meaning here. I do not mean that you get a second chance to make a first impression. That's not going to happen. But what you do get is your first real interaction with your resident as their management team, and it will set the tone for their time with you. Come in with a bad attitude and decide that the problems are THEIR problems, and you've got an unhappy resident who counts down the days until they can move out. Make the move-in day not only pleasant but memorable and remarkable, and resident retention starts at minute one.
I offer up some suggestions today to make more move-in day magic!
- Always offer a pre-move-in appointment with your resident.
Give them time to sign the lease in a moment that isn't costing them 20 dollars an hour for the truck rental as you explain lease addenda A through K. Not only does it give you time to thoroughly explain the lease to them so that there are clear understandings and expectations on each side, but it shows the resident that you care enough to keep in mind the stress of moving day right from the start.
- Walk the unit with a punch sheet- Be proactive!
The steps we take to turn an apartment, and the standards that the apartment should meet to be considered "market ready," or, "move-in ready," are the same each time. The day before move-in, grab a checklist and a last minute sparkle kit and take 20 minutes to really walk the unit that will be turning into a home. Better to catch that there is debris on the patio or something in the toilet before you have to quickly react with your residents watching.
- Don't just hand them the inspection sheet.
Too often I'm seeing this out there. Mr. and Mrs. Jones move in. They sign their lease and it's a particularly busy day when the phone is ringing and there are people constantly needing attention in the office. The leasing consultant, trying to streamline and prioritize their day, hands the new residents their move-in inspection form and asks them to just bring it back after they've filled it out. The problem with this is that there's no personal touch to it. The first 5 minutes in a new home stick in most people's minds, and best that you and your excellent customer service are part of that memory. Plus, it's better for everyone in the end if we can all agree that yes, in fact there is a large stain in the dining room carpet, sign off on it and have a copy.
- Information Packs
I'm not just talking about how to switch your cable over and a couple of coupons for dry cleaning here. Make them personal. In the move-in process, we learn where people work. If we take three minutes and print out a Google map with directions from their new home to their place of employment, and maybe include a few hints about ways to get around the local area traffic, people will remember. If it was mentioned in the tour that they have a dog and love to go to dog parks, take a moment to highlight the dog parks closest to your community on the map. If you know they love seafood, pizza or even little local cafés, point those out. If you just listen, you'll be surprised what you can remember about their discussions. When you remember the little things, people remember you.
- Pets are People too!
At least they are to the people who have them. Americans spend over 41 billion, that's BILLION with a B, dollars a year on their animals according to Business Week magazine. Consider adding something like a logo-ed leash or even a small bag of treats tied with some pretty ribbon to your move-in gifts for new residents with furry friends. Learn the pet's names and take a picture of them on move-in day. Next time there is a cat or dog brought in to the office, you'll have a better chance of finding which family is really going to miss Fluffy when they get home that night!
- One Box
Take a moment and pick up one box to carry it in to their home. It's a small gesture, but it's one that won't be forgotten because it's something most people wouldn't think to do. Get your team past the, "Frankly, I don't want to carry in my own boxes, why would I pick up yours?" attitude and show your new residents, in one box, how much they're going to love living here. Have your porter or maintenance tech stop by an hour or two later and repeat the gesture while introducing themselves to the new residents.
- Don't give away every surprise.
Your resident finding the nice pitcher of Lemonade and stack of plastic cups in the fridge next to the handwritten welcome note will be something that's not only refreshing, but also memorable, and more importantly, mentionable. If making lemonade takes too much time, try leaving bottled water in the fridge. Take the extra dollar and put some toilet paper in the bathrooms too. There's nothing more inconvenient as a new move in than discovering that you're missing toilet paper a moment too late and doing something as simple as just leaving the mini-model as a small move in gift can eliminate this awkward moment. Also, to soften the home upon move in, you might consider leaving your new resident a plant for their home. House plants can run as cheap as $5 at Home Depot, and add a touch of life to what can seem a sterile environment.
- Follow up with more than a phone call.
The day after your new residents have moved in, don't just call them for the follow up on their move in process. Stand up, leave your office and go deliver their move in gift in person, taking the opportunity to follow up with them face to face so that you have the advantage of reading their non verbal communication as well.
It doesn't take much to make a move-in remarkable. What I'm suggesting might add some extra time to the process, but it doesn't add as much time as it takes to turn the apartment and re rent it 12 months down the road, nor does it add as much cost. And remember, make these things standard practice with your residents for all move-ins to avoid any potential fair housing questions that might arise. What we do for one, we do for all, which should be easy when what we're doing is providing exceptional service!
Posted by Richard Farmer on Thu, Nov 12, 2009 @ 07:36 PM
A Real Estate data firm "Foreclosure Radar" said in their monthly report that notice of defaults were down for San Diego properties 1.9 percent to 2,762, although a year ago the figurer was 1,764 so we still have a long way to go.
The report also highlighted a jump in the number of properties actually completing the foreclosure process and getting sold at auction. The previous three months saw a trend toward lenders pulling properties from the auction block in the hope of modifying loans or completing a short sale, but last month, 167,081 properties statewide were sold to the banks, up 22.2 percent from September.
I don't see these figures as being all that significant as foreclosures often take six months to complete, and an increase in bank purchases aligns with a bump in defaults in May. At the peak, banks were buying 50 percent of foreclosed properties, far more than the 20 they purchase now.
While the number are still off for San Diego real estate, investors are becoming more optimistic and are gaining confidence that they can make money reselling homes purchased on the courthouse steps.
Posted by Richard Farmer on Wed, Oct 21, 2009 @ 03:38 PM
The use of surety bonds in lieu of traditional security deposits is becoming common place within California's multifamily market, with owners and managers of some 30,000 units statewide now offering them as a resident amenity and/or risk managemnt tool.
The current state of our economy has made this an attractive option for many residents because the cash savings that result from the lower cost of surety bonds leave extra spending money for other moving expenses.
In California, where traditional security deposits can equal one month's rent or more, many owners are accepting surety bonds to help them compete for residents by making their community more affordable.
Surety bonds can easily be accepted by owner's in place of a traditional security depositas a means to protect themselves (owners) against unrecoverable losses due to damages to an apartment caused by the resident that go beyond normal wear and tear or skipped rent. At a time of intense focus on balance sheets, security deposit alternatives have become part of a risk management strategy for owner's statewide.