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Everything you need to know about starting a property management company

1. PROPERTY MANAGEMENT SALES TERMINOLOGY YOU MUST KNOW

Successfully selling your property management services involves finding prospects, identifying the common problems that plague property managers, and offering your services at competitive prices. But in order to effectively market and advertise your services, you should be familiar with pertinent property management sales terminology. Failure to know these important terms will leave you lost and confused, which is never good for your marketing strategy. Learn more here.

2. HOW LEAD QUALITY PLAYS INTO YOUR SALES PROCESS

Most businesses rely on leads to generate their sales, and property management is no different. Leads are customers who contact you through various channels for more information. They start at the top of your sales funnel, working through the sales process until they become a paying customer. Leads can come from a variety of sources. They might contact you through your social media channels, call you directly, or fill out a form on your website. It’s easy to assume that the more leads you have, the more sales you’ll generate. To some extent, that’s true. But what really matters is the quality of the leads you are getting. Not all leads are equal and learning to discern which leads are more likely to convert into sales will help you boost your bottom line in a big way. Here is everything you want to know about quality leads.

3. ALL ABOUT PROPERTY MANAGEMENT LEAD QUALIFICATION

If you are looking to start your own property management business and purchase a business license, you should be familiar with lead qualification and how it will help your marketing strategy. A lead is someone that could potentially become a client. They’re more likely to rent one of your apartments or even buy your entire property. They’ve expressed interest in your property. This lead can be acquired through a variety of methods: brochures, billboards, ads, email newsletters, etc. Lead qualification involves filtering through these opportunities to find the best ones that will eventually end in a sale. Learn more about lead qualification here.

4. STEPS TO EFFECTIVELY WORK LEADS THROUGH YOUR SALES FUNNEL

When your job relies on turning leads into sales, the process of actually working those individuals through your sales funnel can feel overwhelming. Your success in the industry is entirely reliant on how much time and effort you put into crafting lead generation and management techniques– it’s understandable that the process can seem intimidating to some. Heres more on the sales funnel.

5. CONNECTING WITH YOUR CONTACTS: HOW MUCH IS TOO MUCH?

When you create sales emails, one of the questions you have to ask yourself is, “How many of these do I need?” How often should you be contacting your prospects? It’s important to stay at the front of their minds—and equally important not to irritate or inconvenience them with too much communication. Here are a few guidelines to help you find the sweet spot.

6. FINDING THE RIGHT PROPERTY MANAGEMENT CUSTOMERS FOR YOU

The world is full of potential customers, and to have a successful business, you want all of them, right? Not exactly. There are good customers and bad customers, and every business will distinguish them differently: a “bad” customer for your business may be perfect for someone else’s—and vice versa. Having a successful business isn’t about having all the property management customers, it’s about having the right property management customers for you. Learn more about the right customers here.

7. LESS IS MORE: TIPS TO IMPROVE SALES EMAIL RESPONSE RATES

Email is a key element in your sales process. You probably touch base with prospects via email numerous times before you close a sale—or lose the sale. Of course, one of the primary challenges of using email or any other form of communication is getting a response. Your prospects are busy, indecisive, or maybe even just avoiding you. Learn more tips here.

8. KILLER POSITIONING STATEMENTS FOR YOUR PROPERTY MANAGEMENT SALES STRATEGY

In many cases, a positioning statement is viewed as an internal tool that a business uses in order to ensure their marketing efforts are aligned with their brand. Those who work one-on-one with clients sometimes leverage their positioning statements when they work with leads, as well. Here you can find more about positioning statements.

9. THE FLOW THAT YOU SHOULD USE FOR A TYPICAL PROPERTY MANAGEMENT SALES CALL

Being on the receiving end of a bad sales call isn’t a complete waste of time—it usually helps you decide not to purchase. Of course, as the person making the sales call, that’s the last thing you want. This is why it’s essential to learn how to run a sales call so that every contact you make stands the best possible chance of resulting in a new client. The prospect may decide to go in another direction, but don’t let it be because you can’t make an effective sales call. Here is how you nail that call.

10. WHAT TO DO WHEN YOU ENCOUNTER THE BAD FIT PROPERTY MANAGEMENT PROSPECT?

You will undoubtedly find yourself in conversation with a potential prospect, who just isn’t going to be a good fit client for you. Maybe you get an email response indicating the timing isn’t right, or there’s a transition to a new business venture. Keep the conversation open and don’t rule those prospects out altogether. Sound confusing? Here is exactly what to do.

11. HOW TO SET CLIENT EXPECTATIONS AND MAKE THEM HAPPY!

Most of the best sales professionals will say the key to closing sales and creating happy clients lies in properly setting the delivery expectations prior to closing the deal. While that is definitely important, it’s not enough to sell your prospects on what they can expect to enjoy when partnering with you. To truly make customers happy and embrace your role as a property management service, you’ll want to be thorough on all aspects of what your clients will experience in working with you.

How to Set client expectations and make them happy!

Most of the best sales professionals will say the key to closing sales and creating happy clients lies in properly setting the delivery expectations prior to closing the deal. While that is definitely important, it’s not enough to sell your prospects on what they can expect to enjoy when partnering with you. To truly make customers happy and embrace your role as a property management service, you’ll want to be thorough on all aspects of what your clients will experience in working with you.

Here are a few critical areas that you’ll want to discuss with your prospects before you convert, for long term business relationship success and great client retention.

Share the process that you use with current clients

It’s important to discuss with your prospects how you currently manage your existing clients and how your best clients interact with your business. In doing so, you not only set the expectation of what working with you will be like for the client, but you also are inadvertently showcasing soft testimonials that bolster your credibility with the prospect. Talking about what your current clients enjoy about your service, reinforces that partnering with you is a favorable decision. It also offers conversational opportunities for your prospects to align their needs with those services you offer.

Be accurate & precise about timelines

Many client relationships have fallen due to an improperly managed expectations of timelines. Your prospects will need to understand, before becoming a client, not only what you offer, but when you deliver on your various services. Discuss specifically your communication timeline, your plans for tenants, plans for maintenance, and contingency planning timelines as well. Be authentic and realistic about how and when you plan to execute each phase of your service offerings. Be mindful that you aren’t over-promising deadlines and ultimately setting yourself up for the potential to under deliver.

Outline client responsibilities

Remember, in closing a new client, you’re engaging in a business partnership what that client. Describe to your prospects what the most productive business partnerships look like with you. This means you’re not the only party responsible for contributing to the success of the agreement. Your client will have responsibility for certain duties, decision making timelines and communication as well. Teach your prospects precisely what they can do to ensure the lucrative and long term partnership, that you’re both hoping to achieve.

Shortlist what you plan to manage

You may feel you’ve discussed at length all the services you plan to manage. However, don’t assume that your prospect remembers the various conversations of the past, or understands your service deliverables. Before conversion to client status, craft a short list of the specific areas you will manage. Layout and discuss the details of those solutions you plan to provide. This will set the client relationship expectation for which tasks the client can hold you accountable. This is a great time to revisit previously discussed short, mid and long term goals and how you plan to execute on those goals.

Discuss what you don’t manage

It’s equally important to shortlist those areas you will not be managing as part of your service offering. With a variety of property management services on the market, you’ll want to clear the air of any service misunderstandings, prior to client engagement. In doing so, you present the opportunity for additional questions or discussions and remove any assumptions of management tasks you don’t plan to manage. You can, in turn, be a valuable partner with suggestions and insight on how your client can handle those tasks you don’t intend to offer.

To indeed make your clients happy, remember to have the discussion of expectations prior to converting them as clients. You are laying the foundation for the ideal, long-term business relationship and establishing the guidelines for which to abide to achieve success. For amazing templates, on how to send great emails to your prospects, check out our free download below!

What to Do When You Encounter the Bad Fit Property Management Prospect?

You will undoubtedly find yourself in conversation with a potential prospect, who just isn’t going to be a good fit client for you. Maybe you get an email response indicating the timing isn’t right, or there’s a transition to a new business venture. Keep the conversation open and don’t rule those prospects out altogether.

Today, we’re discussing a few best practices for taking a ‘no’ and keeping your future opportunities open when you encounter those who might not be a good fit right now.

Rejection vs. a Bad Fit

Before you assume the prospect is not going to be a good fit for your services, make sure you’ve uncovered all the objections first – and I mean all of them. Sometimes in sales, a potential client may object with vague or ambiguous reasons, to avoid confrontation or out of fear of rejecting you. However, it is in your best interest to stay persistent before you accept that rejection. To help determine the difference, be sure to ask open-ended questions about each aspect of your services in an attempt to uncover any remaining objections that the prospect might have. Know the difference between rejection and identifying a bad fit prospect. You may be critically missing an opportunity to convert a lead otherwise.

Bad Fit Doesn’t Mean Dead Lead

Even if you encounter a prospect who proves to be a bad fit as a client, you’re not left empty handed with that homeowner. A lead that can’t convert right now, can continue to be a potential source of value for you in providing referrals for example. If you’ve impressed someone with your customer service and sales process, chances are he or she may be eager to help you find others who could benefit – remember, a bad fit now, does not mean a bad fit forever.

Being upfront about asking for help can really boost your dead-leads value to your business. Don’t be afraid to ask for referrals or contacts if they know somebody that could be a good fit for you. Turn the non-client into a networking resource and continue to build on the relationship for future lead generation. It doesn’t hurt either, to stay in contact with those you’ve engaged, should their situation change in the future as well. Maybe in their current career role or position in life, they can’t work with you. However, a job change or opportunity presented can put this contact in a position to be a valuable client for you. Ultimately, using a bad lead to your advantage can provide long term gains – So don’t burn your bridges.

Keep the Emails Flowing

Don’t be afraid to maintain contact with your non-converting prospects via email or email marketing. Be mindful of course, that you’re not sending emails asking for the business or sending sales driven content that won’t apply to them. You can, however, routinely check back monthly, quarterly or seasonally to keep the communication door open and generate top of mind awareness for your business. Should the situation change and the prospect is in a position to revisit your services – you want to still be available in their inbox. Instead of asking business driven questions, check in to see how their process is working for them, send well wishes around the holidays and share any exciting news you might have. Making yourself available periodically can solidify your chances of turning that non-client into a potential client in the future.

In the property management industry, and many others, getting a ‘no’ is typical and even expected. Uncovering potential leads which then turn into the bad fit prospects is also bound to happen. Knowing what do to with leads to keep your sales funnel flowing can help you stay on top of long term potential business. Be sure to keep the lines of communication open and use the bad leads to ask for other contacts and referrals. Relationship building is paramount in our industry. For more ideas and tips on how to maximize your efforts with all of your leads, contact us!

We have killer email templates and tools that might be just what you need to take your property management venture to the next level.

This is the flow that you should use for a typical property management sales call

Being on the receiving end of a bad sales call isn’t a complete waste of time—it usually helps you decide not to purchase. Of course, as the person making the sales call, that’s the last thing you want. This is why it’s essential to learn how to run a sales call so that every contact you make stands the best possible chance of resulting in a new client. The prospect may decide to go in another direction, but don’t let it be because you can’t make an effective sales call.

Property Manager on sales call

Here are the steps you need to follow to run a sales call:

Nail the Introduction

“Hi, this is ____ from ____.” Your introduction should set the tone for the entire call: friendly, upbeat, and easy-going. Try starting “all sales calls with a bang” by including a positive comment: a fun story, exciting weekend plans, or even a pleasantry about the weather.

Share the Itinerary

“I’m calling because….” Tell your prospect exactly why you’re on the phone and what you’re planning to talk about. This itinerary is something you should write down before you ever pick up the phone. Prioritize the topics and intend to keep the conversation as short as possible (without being rude or failing to discuss everything you need to discuss, of course)—everyone has a full agenda and will appreciate your ability to keep it quick and thorough.

Recap the Last Call (If Applicable)

“Last time we chatted, we talked about….” This brings context to the current call—as well as, potentially, a reminder to the prospect about why you’re calling. 

Stick to the Itinerary

“Next, you were wondering about….” This will help you seem professional and it will help the conversation move smoothly from topic to topic. However, this article suggests dealing with any kickback or objections as they come up: don’t wait until the end or expect it to resolve itself. If the prospect has a question or concern, he or she might not even hear anything else you have to say until he or she is reassured on that point. If you can’t overcome that objection, you probably won’t make the sale, anyway.

Answer Questions

“Do you have any questions?” After you’ve completed your itinerary, open the line to additional questions or concerns. If you’ve done your research on the prospect, you may already be expecting certain questions to arise—which means you can be prepared with the answers, too. Let them know they can contact you anytime if they think of something else.

Schedule the Next Meeting

“Let’s talk again next week after you’ve had time to review this with your business partners; what time works for you?” This is like the call-to-action at the end of an email. What do you want the prospect to do next? Make sure you make a plan for that to happen: schedule a time for a call, meeting, or whatever next step is required in the process.

BONUS: Follow Up

“Thanks for chatting with me today!” The follow-up email is a great way to remind your prospect that he or she intended to take action in some way. We suggest making sure your follow-up email has a purpose—and that you make that purpose clear. You might ask for more information about something, offer additional information about something, remind the prospect about your next meeting, or simply say thank you.

Learning how to run a sales call is a bit of an art, and you’ll continue to improve with practice. Fortunately, when you partner with PropertyManagementPros.com, you receive hands-on training, ongoing support and education, a marketing strategy, and killer email marketing templates to help you succeed. Contact us today to learn more about the property management business and how we can help you learn to run a sales call—and so much more.

Two Killer Positioning statements for Your Property Management Sales Strategy

Branding plays a significant role in your success as a business professional. As you develop your company, creating a consistent brand presentation may increase your revenue by as much as 23%. There’s no question that crafting your brand’s image can have a massive impact on success and sales, but how do you go about doing that?

One way you can improve your brand presentation is through the use of a positioning statement. The perfect positioning statement is an amalgamation of several factors (which we’ll discuss below) and serves as both an internal and external marketing tool. 

Integrating Positioning Statements into Your Property Management Sales Strategy

What is a Positioning Statement?  

In many cases, a positioning statement is viewed as an internal tool that a business uses in order to ensure their marketing efforts are aligned with their brand. Those who work one-on-one with clients sometimes leverage their positioning statements when they work with leads, as well.

The ideal positioning statement is brief. It should include descriptions of:

  • The product or service you’re selling
  • Your target market
  • How your product or service meets some need of the target market

Essentially, your positioning statement should serve as a concise rundown of how whatever you’re selling addresses a need that your target market (or persona) is struggling to meet. This statement is critical to strengthening your brand and selling your products or services. 

How to Utilize Positioning Statements  

Your positioning statements should be used both internally and, in the case of those selling directly to clients, externally. A positioning statement geared for use with clients will likely be more compelling and less-detailed than one created solely for internal use within a large company.

If you’re a property manager who’s looking to boost their sales strategy, your primary use for positioning statements will be during client interactions. You can also utilize positioning statements as hooks for various means of marketing– the two that we highlight below would be excellent as the opening line of an email or newsletter.

2 Killer Positioning Statements for Your Property Management Sales Strategy

“Our current clients often think about making the jump into being a landlord, but don’t feel they have enough time to manage it themselves. Does that sound like you?”

This statement contributes a lot of effort towards moving a client through the sales funnel. Beginning with “our current clients” before leading into a roadblock to purchasing implies that you’ve worked through this issue with leads before. If other clients have gotten over their reservations, why shouldn’t this one?

Next, a problem is presented– leads want to become landlords, but don’t think they have the time it takes to do the job. In today’s world, everybody feels pressed for time. This problem is rampant and relatable; that translates to a positioning statement that can apply to just about anyone.

The question following the statement calls the reader or listener to action. They’re prompted to take a look at their own line of thought and assess what’s holding them back from taking the plunge. 

“Many of our current clients used to find themselves managing their own tenants, but couldn’t provide the level of services needed to keep tenants happy. Does this resonate with you?”

This alternate positioning statement is excellent to have on hand for leads who may have been through the property management ringer already. You need to consider that not every potential client is clueless or uninitiated– they may have just had bad luck in your sector previously.

The statement is compelling, strong, and concise. The question at the end calls the lead to think and a common pain point for property managers is honestly and openly addressed.

If you want to learn more about how a killer positioning statement can improve your property management sales strategy, give our team a call today. Our staff is comprised of industry experts who are passionate about helping you reach your sales goals; and, for those looking for tools to help them out along the way, we’ve got killer sales email templates designed to help property managers increase their bottom line. 

Less is More: 3 Tips to Improve Sales Email Response Rates

Email is a key element in your sales process. You probably touch base with prospects via email numerous times before you close a sale—or lose the sale. Of course, one of the primary challenges of using email or any other form of communication is getting a response. Your prospects are busy, indecisive, or maybe even just avoiding you. 

It can be tempting to include a lot of information in your emails; after all, you have a lot to offer! However, keeping your emails short and sweet may improve sales email response rates and allow you to keep that line of communication open. This is why—and how to do it:

Keep It Under 300 Words

Everyone is busy these days. Long emails will either get skipped (the readers may tell themselves they’ll get to it later when they have time…but they never do) or get skimmed. Either way, some of that valuable information you provided is lost. And people tend to forget things: even though we have possibly limitless long-term memory, our short-term memory can only handle a few items at a time. You might assume your reader already has one or two of those items in his or her brain. If you contribute much more than that, you’re practically asking that person to forget all about it.

The Solution: Keep your email direct and to the point. This post suggests pointing out these four pieces of information:

  • Who you are
  • What you want
  • Why you want it (or why it’s important for them)
  • When you want it

After you write your email, re-read it. Could you remove some words? Are you being direct and specific about the action you want the reader to take?

Ask Questions

Asking questions shows you’re interested in the other person, and it offers an opportunity for you to gather information that may help you close the deal. The questions you ask depend upon which part of the sales process you’re in, but using the right questions in your email encourages a response.

Questions You Might Want to Ask: What was your experience with your last property management company? What was most difficult about managing the property on your own? When do you need to make a decision on this? Is there anything getting in the way of making your decision? How can I best assist you in the decision-making process? What do you look for in a property management company? What would make us the ideal choice for you?

Send a “Break-Up” Email Before Moving on to Another Prospect

Endless emails (even short ones) to a prospect are a waste of your time—and theirs. If you’re not getting a response, it’s time for the break-up email, which is designed to kick-start the conversation or free you to move on to other prospects. HubSpot offers seven break-up email templates along with suggestions to keep it short, let them know you don’t want to bother them anymore, or tell them you’ll touch base in a few months.

This post outlines five elements you’ll want to include in your break-up email:

  • You’ve tried to help
  • They’re too busy or must have gone in another direction, so they never replied
  • You won’t bother them again
  • If they decide they need what you can offer, you’re still there for them
  • Your contact information

Quick Tip: Stay positive and avoid being accusatory. Keep the break-up email light-hearted and professional.

Tracking your email templates and response rates will give you a clearer idea of what works—and what doesn’t. When you partner with Property Management Pros, you have access to a proven email marketing plan to make sure your emails have the greatest impact. Contact us if you have any questions about becoming a property manager and how we can help you with email marketing.

Finding the Right Property Management Customers for You

The world is full of potential customers, and to have a successful business, you want all of them, right? Not exactly. There are good customers and bad customers, and every business will distinguish them differently: a “bad” customer for your business may be perfect for someone else’s—and vice versa. Having a successful business isn’t about having all the property management customers, it’s about having the right property management customers for you. 

Here are a few tips to help you find customers that are a good fit for your business:

Make Sure They Are Sales Qualified

There’s a reason you don’t pick up a phone book and call it your leads list: not everyone needs what you have to offer. There’s no reason to waste time contacting people who don’t even own rental properties! A qualified lead is someone you’ve done your research on: not only do they have a property, but they’re looking for someone to manage it for them.

This article notes the difference between a marketing-qualified lead (someone who has what may be a passing interest in what you do) and a sales-qualified lead (someone who is ready to buy). For you, this might be the difference between someone who has a rental property and is managing it himself and someone who is actively looking for a property manager.

Make Sure They Fit Your Business

If you specialize in managing vacation homes, someone with a long-term apartment rental probably isn’t the best fit for your business. If you typically manage small apartment complexes, taking on a six-bedroom house probably isn’t ideal.

Just because the potential clients (think they) want what you have to offer doesn’t mean you’re the best person and business to give it to them. This is why it’s a great idea to connect and build relationships with fellow property managers. You can refer clients to the businesses that are better able to meet their needs, and they can refer clients to you.

Make Sure the Property is Market-Ready

The property should be ready to advertise and rent. This means all appliances are in working order and aesthetic concerns have been addressed. You’ll have a hard time marketing the property if it’s not clean and in good repair. This article offers eight tips for preparing a home for rent, which includes addressing safety issues, making repairs, and removing anything of value that the owner doesn’t want the renter to use or have access to.

Make Sure Expectations Are Clear

You need to be clear about what you can offer, and the client needs to be clear about what he or she wants. If someone is pushing for a service you don’t offer or trying to get something for less than you charge, don’t make concessions or try to work out a deal. Instead, recognize that this customer simply isn’t the best fit for you. Taking those people as clients will probably not be worth it in the long run. Be transparent about what you do and what you charge, and make sure your customers are happy with that before you move forward. If not, it may be best to keep looking.

The right property management customers are out there: your first job as a business owner is to find them! With Property Management Pros, you’ll have the advantage of working with people who have been there, done that. We offer all of our partners thorough training, support, and marketing plans and materials to help you find and serve the right customers. If you have any questions about how we can help you start a successful property management business, please contact us

Connecting With Your Contacts: How Much is Too Much?

When you create sales emails, one of the questions you have to ask yourself is, “How many of these do I need?” How often should you be contacting your prospects? It’s important to stay at the front of their minds—and equally important not to irritate or inconvenience them with too much communication. Here are a few guidelines to help you find the sweet spot:

Offer Value

Don’t reach out just for the sake of reaching out: make it meaningful. Offer value. This may be information about a new blog post or a promotion that could help the prospect solve a problem, or it may be a happy birthday message or something else that is personal to that particular contact. Each email or phone call should serve a purpose in addition to simply reminding the prospects that you’re there and ready to help them.

Choose the Right Time

There’s a lot of data out there about the best times to email or call your prospects. For example, first thing in the morning is generally a bad idea, since everyone is getting to work, organizing the day, and managing urgent issues—not to mention going through all the emails they received overnight. You’ll also probably want to avoid weekends, holidays, and Mondays, since your message might get lost amidst the other messages that come in during those times when your prospect probably isn’t reading emails. 

Set a Meeting

Phone tag is off-putting after the second or third attempt. Whenever possible, set a meeting time before you make that call so you can be sure you’ll connect with the person you’re trying to reach. Otherwise, they may not pick up your unexpected call; if they answer, they might not have the time or be in the mental space at that moment to deal with what you’re planning to talk to them about. You might start with a quick email or text: “Hey, I saw you were interested in XYZ. I’d love to speak with you about it. What’s a good time for me to call you?”

Refine Your Subscription Options

For prospects who are on your automated email list, give them a choice about how often they would like to be contacted: daily, weekly, or monthly, for example. Stick to that schedule so people know when to expect to hear from you. Take care to segment your email list so you can make each automated email as personal as possible. For example, you may not want prospects with houses for rent to receive the same emails as prospects with apartments or condos. You might have different messages for prospects with one property and prospects with multiple properties. 

If It Feels Like Too Much—It Probably Is

If you’ve made several calls or sent several emails and haven’t gotten a response, it might be time to rein it in. If your prospect signed up for your newsletter, he or she will continue to receive those and may, of course, unsubscribe at any time. There may be several reasons why the prospect isn’t getting back to you: he’s too busy, she doesn’t need your help right now, or he’s decided to go in another direction. It may be time for a break-up email: that final message that says you’ll leave them alone since you haven’t heard anything. 

When you partner with Property Management Pros, you don’t have to create sales emails on your own. You get to take advantage of our effective marketing solutions, which include killer email templates to help move your prospects through the sales journey. Contact us to learn more about how to start your property management business—and how to market it effectively. 

Six Steps to Effectively Working Leads Through Your Sales Funnel

When your job relies on turning leads into sales, the process of actually working those individuals through your sales funnel can feel overwhelming. Your success in the industry is entirely reliant on how much time and effort you put into crafting lead generation and management techniques– it’s understandable that the process can seem intimidating to some.

Fortunately, there are six simple steps you can take from initial contact through making a sale that help boost your shot at success. You’ll need to work hard to form genuine connections and start molding your leads into qualified property management gurus, but the job is far from impossible. 

Six Steps to Working Leads Through Your Sales Funnel

1. Get connected with your sales prospect

This goes without saying– it’s difficult to start pushing leads further down the sales funnel if you haven’t even connected with them yet!

Outside of the obvious need to make contact, you should also be working to form genuine connections with your leads. Select your means for initial outreach carefully– numerous factors can influence how, where, and when it’s best to get in touch with a lead. If you have intrigued parties fill out a form online or in person, consider asking them how they’d like to be contacted and when the best time to reach them is.

Once you get talking, you’ll need to worry about what it is you’re saying. Focus all of your energy on a lead when you speak to them; people can tell when your mind is wandering elsewhere, and it comes across as unprofessional and rude. You should be working hard to create meaningful and lasting relationships with sales prospects.

2. Get Them Qualified

In some cases, you may wind up with leads who have already taken the steps to get qualified for the job on their own terms. Your job in these cases is pretty simple– in fact, you get to skip this step!

The majority of leads won’t know where to start with racking up qualifications, though. Since you’re the one who pulled them into the fringes of the industry, it’s your job to serve as a temporary mentor and direct them when it comes to the steps they should be taking to prepare for work. Give actionable pointers and offer references for the most streamlined route to qualification. 

3. Discover Their Needs

Nobody ever made a sale without their client experiencing some perceived need. Sometimes, you need to create or highlight these needs yourself– other times, your leads will already know what needs solving.

Regardless, it’s your job to pinpoint the needs of your future clients and start offering hard evidence that you can provide them with a solution. You should never lie or exaggerate during this process- being genuine, honest, and forthcoming goes a long way in establishing trust. 

4. Talk Strategy

Get your leads excited and invested in the opportunities you’re about to give them access to. You should have a clear, concise plan in place for pulling them into the fold and getting them integrated into the property management experience. If you don’t have any strategic insights or plans to offer your leads, your position as a knowledgeable authority figure begins to slip quickly. 

5. Solve Their Problem

Those needs and solutions we talked about earlier? This is where you need to start advocating for them much more strongly.

Prove that what you have to offer is the ideal solution to whatever problem your leads might be experiencing. Are they struggling in their current field and need a more flexible, lucrative career? Great! Tell them all about how more than a third of US homes are renter-occupied or that almost 90% of property managers increase their rental rates over the course of a year

6. Eliminate Objections

If you’re a true professional in your field, you should be confident enough in the sector and in your knowledge to refute just about any objection that comes your way. Never lie to prove your point– the web exists and it’s easy to find holes in stories.

Focus on being open and honest as you leverage persuasion to lead clients further down the sales funnel. Cite meaningful, exciting statistics; speak about the opportunities that property management offers today’s busy working professional. 

If you’re interested in learning more about how to build an effective sales strategy for a property management business, get in touch with our team today. Our team will be glad to speak to you about your concerns and goals moving forward in the business. Those who are interested can also download our killer sales email templates designed specifically for professional property managers. 

Everything You Need to Know About Property Management Lead Qualification

If you are looking to start your own property management business and purchase a business license, you should be familiar with lead qualification and how it will help your marketing strategy. A lead is someone that could potentially become a client. They’re more likely to rent one of your apartments or even buy your entire property. They’ve expressed interest in your property. This lead can be acquired through a variety of methods: brochures, billboards, ads, email newsletters, etc. Lead qualification involves filtering through these opportunities to find the best ones that will eventually end in a sale. 

SALES QUALIFIED LEADS (SQL) VS. MARKETING QUALIFIED LEADS (MQL)

A marketing qualified lead, or MQL, is more likely to become a client or purchase a product than the average person. A typical person may visit your website, read your blog posts, and then leave, uninterested in the product or service you offer. MQLs are more likely to subscribe to your email list, chat with you on social media, download an eBook, or fill out an online form.

A sales qualified lead, or SQL, is the next stage. They ask specific questions about your sales price and how your product or service works. So when it comes to property management lead qualification, an SQL is asking about your rent price, amenities, pet-friendliness, the number of bedrooms, and the community where the property is located. If they’re satisfied with what your property has to offer, then you’ve turned that sales qualified lead into an actual sale.

HOW TO TELL THE DIFFERENCE

Differentiating a MQL from a SQL may not seem important, because you may think that a lead is a lead. However, knowing the difference between the two can help your marketing team prioritize their activity and prevent them from wasting time on leads who won’t convert.

  • Source: A MQL may have been browsing social media and saw an ad about one of your properties. They weren’t actively looking for places to rent. They’re only mildly interested. A SQL may be actively seeking apartments for rent through a Google search or apartment sites. This is more likely to result in sales.
  • Intent: A SQL may ask for you to contact them by filling out a contact form on your property’s website. They’re more willing to invest their time in discussing your property further. A MQL may just visit your website, or may even inquire about the property, but may not be interested in further discussion.
  • Stage in the Buying Process: The MQL is actually in the buying cycle, while the SQL is not.

HOW TO CONVERT A MQL TO A SQL

Converting a MQL to a SQL involves you gathering information about a prospect to determine where they fit in a buyer’s journey. Then, you take action from there.

Below are a few ways you can convert a MQL to a SQL:

  1. Schedule an appointment immediately. Scheduling an appointment will dramatically increase your chances of converting the lead.
  2. Ask for referrals. By offering an incentive (i.e. $100 or $200 rent credit), you can motivate your existing residents to refer your units to friends and family, which can result in successful leads.
  3. Follow up. Although you’re busy managing properties, it’s important to respond to inquiries promptly. By following up with all leads, you’ll be surprised at how many SQLs you’ll acquire as a result.

HANDLING A SQL

When handling a SQL, you should understand their pain points, their stage in the buying cycle, and their budget. This will ensure that you’ve addressed all issues and thus, will help you achieve your ultimate goal: making a sale.

At Property Management Pros, we will show you how to successfully establish your property management company. Our compound marketing system will help you optimize your property management lead qualification. Contact us today to learn more!


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