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Leasing - Knowing Your Competition
Transcript of Leasing - Knowing Your Competition
How your property differs from the competition
Who your competitors are
Floor plans offered
Good sales people can outsell their competition without ever mentioning a competitor's name.
It is equally important to know your own product. If you are able to demostrate product knowledge, it gives your prospect confidence in you and your property.
Play to your stengths by knowing your competitive advantages
An advantage that a firm has over its competitors, allowing it to generate greater sales or margins and/or retain more customers than its competition.
Overwhelm your prospect with knowledge
Never bad mouth the competition.
Knowing Your Competition
Why Should I Know My Competition?
Brands are imprinted in our minds: we remember those that are reinforced or stand out
Just like our property may imprint a prospect or current resident's mind.
Make sure we are remembered in a positive way.
Make sure that we stand out and above the competition.
Who are my competitors?
What Knowledge Should I Have?
What Do I Look For When Shopping?
How Do I Gain This Knowledge?
Prospects are not only touring your property
Not all properties are the same
Not all prospects are the same
Helps you overcome objections
Knowledge is power
In order to effectively sell your own commmunity you must understand what is available in the market and how you stack up against others.
Student Housing Apts.
Dorms/On Campus Housing
Townhomes/Homes for Rent
Websites: This includes apt. rating sites
Monitor Ads: on campus, local businesses, etc.
Ask your prospects
Ask past residents about their experiences
Shopping the competitors
What was one thing you disliked about the leasing agents tour?
What was one thing you like about the leasing agents tour?
What was your favorite part of the property?
what was your least favorite part of the property?
What was their current special?
How did the leasing agent try to close you?
How do I Use this Knowledge?
What Competitive Advantages Does Your Property Have?