Ten Ways To Build Value

by Lori Snider

1. Always Know What's Behind Door Number One.
On a daily basis, pick 3 to 4 vacant readies to open. Get the lights on, shades open and make sure the temperature is comfortable. If it is nice outside, open a window. Prepare your product for presentation so it puts its best foot forward. Then when you tour it, you can focus on selling the apartment rather than opening it up. Not to mention -- we all have stories of entering an apartment that was listed as ready just to find many a surprise when we opened the door. Always know what is behind door number one.

2. What Are You Selling?
Go to your model or vacant apartment. Make a list of 25 features that that apartment offers. Now, next to the features, make a list of the benefits that feature presents to a resident. For example, a feature in an apartment might be a gas fireplace. The benefit to having a gas fireplace is twofold -- ease and comfort. -- "Mr. Jones, if you have ever built a fire from scratch, you know that it is somewhat messy and inconvenient. First you have to procure the wood. Then you have to light it. And keep it lit. And hope the sparks don't fly out and damage the hearth or surrounding carpet. It is a pain. Our fireplaces require you to flip a switch for instant comfort and ambiance. The fireplace does all the work. How easy for you."

Do not assume the resident understands the benefit to your features. This is called building value. You are showing the client why you are priced the way you are. Now, what if the apartment comes with a standard fireplace? Well, there is value in that, too. The benefit to having a standard fireplace is "Mr. Jones, our apartments offer real fireplaces for your enjoyment. There is nothing like the sight, sound and smell of a real fire in the fireplace on a cold winter's evening. Gas fireplaces simply can't compete with the real thing." The benefit to a real fireplace is sensory enjoyment. When you finish with 25, see if you can find 50.

3. What Is Your Community's Marketing Niche?
If nothing immediately comes to mind when you ask yourself this question, brainstorm with fellow team members. Make sure you are capitalizing on your marketing niche.

4. Answer the Phone. In Person.
Instant value is built with a prompt greeting. People don't like to wait for a call to be returned. Value is enhanced with immediate response. Keep the phones off answer.

5. Check All Of Your Internet advertisements.
Clients are doing more research and leasing from the Internet than ever before. Are your Internet advertisements friendly, informative and thorough? How do your pictures look? Are your prices correct? Are there any spelling errors? Your Internet advertisement is your client's first impression of your community. Are you making a positive one?

6. Looking Good Counts.
You are your most important value-enhancing tool. Pay attention to your appearance. If you are a manger, pay attention to your entire team's appearance. It doesn't cost a thing to show off a superior community team. Image is more important than you might think.

7. Implement A "Just One Little Thing" Program At Your Community.
At each service request, the service staff will find just one little thing extra that they can do for the resident. It could be replacing a light bulb, touch up caulk, etc. Most important, leave a note for the resident telling them what has been done and thanking them for being a resident. It's kind of like going to the bakery and getting 13 donuts instead of twelve. You expected the 12, but that extra donut is a nice treat.

8. Be Of Value To Your Locater's.
When you lease to a client that was sent by a locater, do you get on the phone with the locater and let them know the client leased? Do you thank them for the referral? Do you know the name of any of your locaters? It is not just with clients that value can be created. We can build value with our suppliers as well. Is there a particular locater that sees you as valuable to the success of their business? What is the end result? They will send you more traffic and ultimately you will lease more apartments.

9. Spring Clean Your Models.
This is easy. If there is anything in your model that looks out of place, doesn't match or is just sitting there because it always has, remove. Now. Get fresh candles. (Ok, candles will cost a couple of bucks, but it is money well spent.) Get the bedding, towels and linens cleaned. Clean the light fixtures. Make sure they are absolutely primo.

10. Windex, Windex, Windex.
When was the last time your community's clubhouse and exterior windows were cleaned? An instant enhancement - sparkling clean windows.

Remember, there is value all around you. The secret is to make the most of that value and to share it with those your serve.

Happy leasing!

About The Author
Lori Snider is national speaker, published author and marketing consultant with over 15 years of property management experience. Her seminars and workshops are packed with real life experiences that the listener can relate to and her sense of humor makes sessions fun and interesting. Lori's enthusiasm, sales skills and imaginative problem solving abilities can provide solutions to your leasing and retention challenges. For more information visit www.lorisnider.com or call 303.517.2006.

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