Five Sales Mistakes that May be Holding your Property Management Company Back

Five Sales Mistakes that May be Holding your Property Management Company Back

Have you ever thought about what your property management company could do with two, three or even five extra sales a month?

What if you could add $36,000 in annual contract value every single month?

Today, we’re talking about some easy and common mistakes that sales people make.

Sales Mistake No. 1: Not Peeling the Onion

When you get a phone call, you need to quickly understand what your prospective client wants. It’s important to understand and identify the pain points in this first conversation. If you just blaze through your sales speech and hang up the phone, you’re making a big mistake. You need to let your prospect do most of the talking so you can understand the pain points that your potential client is grappling with. 

Sales Mistake No. 2: Not Addressing those Pain Points

Once you know what the paint points are, it would be a big mistake not to address them. Analyze what your prospective client is telling you, and then deliver a response that demonstrates you have a plan to make things better. Show that person that you care, and that understand what they need. 

Sales Mistake No. 3: Schedule a Follow-Up Call

A lot of sales people will leave it up to the prospect to call back or get in touch with any further questions. That’s a huge mistake. Instead of saying “do you have any other questions?” try saying “what day next week would be good to talk again?” Let them know you want this sale by setting up a follow-up call before you hang up the phone. Don’t just expect that your prospect will call you back. Instead, they’ll call other companies, and you’ll probably lose a sale. No one wants to lose a sale. So, set that follow-up call.

Sales Mistake No. 4: Not Setting the Agenda for the Next Call

You have to forecast the next call. Let the client know what the conversation will be about. Between that first and second call, you can send some blogs or articles you’ve done that address the pain points you’ve discussed. Let the client know what the conversation will be about. If this prospect fits the profile of your perfect client, you’ll be aligned with what’s happening and what the next conversation will be like.

Sales Mistake No. 5: Not Asking for the Sale

This is the biggest mistake sales people make. It’s one common and easy thing that will make or break your deal. You have made it through a couple of conversations and you’ve established yourself as the expert property manager who can solve this prospect’s problems. Now, what do you do?

You don’t invite the prospect to call you back once they’ve made up their mind. That’s a mistake. It’s also a good way to lose the deal.

Instead, ask if all the prospect’s issues and questions have been addressed. When they say yes, send them the contract and tell them it’s time to get it signed.

You need to address this as an assumptive sale. Believe that the client wants to work with you.

Set yourself up for success. Avoiding these mistakes will get you those extra sales every month. That means more money, more profit and a better property management company.

If you have any questions about these sales mistakes and how to correct them, contact us at Fourandhalf. We’ll be happy to tell you more.

Kim Tanner

About Kim Tanner

Kim Tanner, Fourandhalf marketing director, obtained her Bachelor of Science in journalism and Earth science from Central Michigan University and brings 15 years of professional marketing experience to the company. Her expertise includes marketing strategy, branding, marketing automation, CRM management, graphic design, content marketing, campaign management, product marketing, technical marketing and advertising.

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Desired Growth (# of properties) :
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Annual Contract Value: $0
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Estimated Lifetime Profit: $0
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How we got these numbers

• Annual Customer Value (8% of average rent multiplied by 12)
• Customer Lifetime Value (4 multiplied by ACV)
• Estimated Annual Profit (at 20% of ACV)
• Estimated Lifetime Profit (at 20% of LCV)
• Estimated Portfolio Value Upon Sale (1.2 times ACV)

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Alex Osenenko
President and CEO

Alex’s professional mission in life is to help small businesses grow and thrive. He is the President and CEO of Fourandhalf.com and is serving his 5th year on the Board of Directors for CALNARPM.

After spending 9 years in the trenches with his property management clients, Alex draws on his experience to host “The Property Management Show” Podcast and co-authors a weekly Property Management Blog on Fourandhalf.com. Alex has extensive experience speaking for various NARPM events at the local, state, regional and national level.

Alex is a graduate of San Francisco State University with an Electronic Commerce Systems Degree. His business philosophy is simple: Happy Customers are created by Happy Employees, which results in Happy Shareholders. Alex serves on the Board of Directors of CALNARPM (California Chapter of National Association of Residential Property Managers) and hosts a Podcast “The Property Management Show“, available on iTunes.

 

John Bykowski
Chief Operating Officer

After graduating from the University of Michigan with a film degree, John proceeded to do everything but. During his career, John has specialized in operations and has developed processes for small companies in diverse industries, such as bleeding-edge marketing technology, social networking, trade shows and exhibitions, and cloud software. John and Alex had worked together previously, and when he needed someone to help take Fourandhalf to the next level and beyond, Alex brought in John as his first employee, and later, business partner.

In addition, now that he’s using his film school know-how to help property managers look their best in their blogs, his mom no longer feels his degree was a complete waste of time.

Danny Morris
Director of Account Management

Born in Australia and growing up in Israel, Danny has spent a lot of time traveling the world between those two places. After completing his military service in Israel, Danny began following his biggest passion, writing, which he discovered while backpacking South America and publishing his first book.

When it was time to unpack, he returned to Australia to complete his Journalism studies amongst the beaches of sunny Perth. Danny is a huge online fan and after working in a number of related jobs, he finally gets to combine his two favorite things, working with media and people.

Marina Osenenko
Product Manager

Marina draws upon her real estate, business operations and customer service expertise for Fourandhalf. Her favorite part of being with Fourandhalf is the opportunity she has to really get to know our clients, build professional customer relationships and truly be part of a team that assists in their success.

Her time away from work is happily spent watching her children grow up and attempting to keep up with them! Any spare moments beyond nurturing her children are filled with hiking, spending time with friends, exploring the Bay Area and squeezing in a non G-rated movie every now and then.

Marie Liamzon
Product and Marketing Manager

Before joining Fourandhalf, Marie worked for one of the largest banks in the world. She took on different roles, but couldn’t find what she was looking for. She pursued a variety of side projects until she finally decided it was time for a career change.

Marie is very passionate about helping people and learning new things. In her spare time, you might catch her exploring new places and taking far too many pictures.

Kyle McLean
Customer Success

Born in San Diego County, Kyle McLean has since migrated to the Oakland woods. A fan of tall trees and tall tales, he holds a bachelor’s degree from the creative writing program at the University of California, Riverside and is a licensed California Certified Shorthand Reporter.

After a few years as a freelance court reporter, Kyle has joined Fourandhalf for an opportunity in sales and digital marketing. In addition to reading and writing, his hobbies and interests include gardening, hiking, soccer, coffee brewing, and craft beers.

Karen Wyle
Account Management

Originally from the Philadelphia area, Karen moved eight times in seventeen years all over the East Coast and to the Midwest before settling here in Northern California six years ago. She is an alumna of Brandeis University with a BA in American Studies and earned a MBA in Marketing Management from Indiana University in Bloomington. Karen’s business career has been well-rounded, with experience including advertising, direct marketing, corporate retail, product management, new product development, and new customer generation. Beyond an office setting, she has been thrilled to volunteer her time giving back to the community with KPMG’s Family for Literacy, at her daughter’s school, and as a Girl Scout Troop Leader. Karen enjoys music, good food, traveling to new places, completing jigsaw puzzles, meeting people and making connections.

Karen became a part of Fourandhalf’s Account Management team in 2016, relaunching her marketing management career after a pause to raise her family. She is excited to rejoin the business world and to work with such a strong marketing management team.

Paige DeRuyter
Account Management

Paige graduated from Chico State University with a degree in Journalism. Her favorite part of working at Fourandhalf is helping clients create and produce educational blog content to grow their business. She is an avid sushi enthusiast who enjoys riding her bike and watching college football and in her free time.

Nissim Boozaglo
Web Hosting Support

After working as a Radioshack store manager, Nissim decided to change his career path and pursue his passion for music production by getting his B.A.S. from Expression College for the Digital Arts. Nissim has a beautiful 8-year-old girl and loves cooking delicious homemade food and going camping with her! At Fourandhalf, Nissim is responsible for the implementation of the clients’ Landing Pages and Google Adwords campaigns.

Theresa Barnes
Campaign Director

Theresa Barnes was born and raised in the Bay Area and graduated with her Bachelors Degree in Communications Studies at San Francisco State University. She worked in aviation at a private FBO for 3 years, and other industries, before joining the Fourandhalf team. She finds a balance between being a young mother, work, and living a healthy lifestyle outside of work by staying as active as possible. She is dedicated to customer satisfaction and having a great work ethic.

Brittany Stephens
Campaign Director

Brittany recently moved to the Bay area after graduating from California State University Chico with a degree in Business Marketing. She is known for her excellent communication, customer service skills, and shameless nerdyness. Her passions include: music, tabasco, Lord of the Rings, and the Golden State Warriors.

Logan Jones
Business Development

After graduating from CSU Chico with a Degree in Business Marketing, Logan moved back to the East Bay and pursued a career in sales. With an attention to detail and a relentless drive, he strives to improve himself and his passions each day. When not at work Logan enjoys playing guitar and writing songs, and occasionally performing around the Bay Area. He is an avid sports fan keeping up with everything SF Giants, 49ers, Cal Bears, and Golden State Warriors.

Hope Lumbley
Account Management

Hope recently moved to the Bay Area after graduating from Chico State University with a degree in Journalism. She is coffee crazed, dog obsessed and hopes to visit all National Parks. One of the greatest times in her life was when she lived abroad in Costa Rica and hopes to travel more of Central America in the future. She feels blessed to work for a company who supports her love for travel and the need to learn more about what the world has to offer.

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