How to Double Sales by Qualifying Property Management Leads

How to Double Your Sales by Qualifying Property Management Leads

Are you failing when it comes to new leads? 

You do all this property management marketing and your phone rings with an owner on the other line inquiring about your services.

Do you know what to do?

Do you know what NOT to do?

To avoid that feeling of despair when a good lead goes to a competitor, we provide a reliable method that you can use to double your closing ratio as a property management business.

We’re going to go over the whole process from how property managers handle sales calls over to how it can be improved so that an owner will be convinced that you’re the best manager for the job. With that said, grab a notepad and a pen and let’s get ready to close more business.

What a Typical Sales Call Sounds Like for Property Managers

  1. The phone rings with a property management lead on the other line
  2. The property manager says hello, introduces the company and immediately asks for information such as the property address, and whether the property is occupied.
  3. The owner lead provides this information.
  4. The property manager launches into an explanation of fees and services. The conversation focuses on why that property management company is so good and how their services are the best.
  5. At the end of the call, the owner prospect will probably end up responding, “I’ll think about it.”
  6. After the call, the property manager sends a copy of the contract and follows up in a week.

Typically, that’s the conversation that is happening by property management companies the majority of the time. It’s important to keep this in mind when you are looking to improve your process.

How to Be Different and Close More Property Management Leads

If you want to double your closing rate, you have to be different.

And to be different, you have to use a simple strategy:

Flip the 80/20 to 20/80.

Speak 20 percent of the time and listen 80 percent of the time.

Care about what the owner prospect is telling you. Start off with engaging the owner with questions that give them an opportunity to share valuable information. Instead of asking for the address, ask things like:

  • Tell me a little bit about your property.
  • Tell me why we’re talking today.
  • What challenges do you have with your existing tenants?
  • How do you feel about pets in your rental property?
  • Why did you decide to invest in this area?
  • Are you thinking about growing your portfolio, or is this your only investment property?

Ask them more questions like this, and as they are talking to you, dig in.

Peel back the layers of what that owner faces, and figure out what this person really cares about. This simple conversation means more to the owner than to you. After all, their home is likely their largest asset.

As the property manager, if you do not connect and build that relationship, your service becomes a commodity and the owner’s only goal is to find the lowest fee.

Be the Property Manager that Cares

If you are the person who builds the bridge between the owner’s problem and your solution, you will earn the business. You need to care and sympathize with your prospect’s specific circumstance. Only by being genuinely interested in THEM you’ll gain a true understanding in their specific pain points. 

While on the call, resist the urge to talk and persist with discovery. Sure, you’ve heard most of it before, likely hundreds of times, but you can’t allow impatience to interrupt your process.

Once you are able to do that, then, you can talk about your solution. Once you know everything about the situation, you’ll be able to respond and close the deal. That’s how you win and double the number of deals you close without spending a dime more on marketing.

At Fourandhalf, we wrote a book about the whole sales process. It’s called “The Art of the Sales: A Process for Property Managers” and it covers everything you need. It’s only 19 pages, and you can get through it in a couple of hours.

We look forward to your feedback after you try this strategy. Please contact us at Fourandhalf and let us know if these tips help with your closing success.

Alex Osenenko

About Alex Osenenko

Alex’s professional mission in life is to help small businesses grow and thrive. Alex is the President and CEO of Fourandhalf.com and a Co-Founder of the PM Grow, Inc. His business philosophy is simple: Happy Customers are created by Happy Employees, which results in Happy Shareholders. Alex's deep commitment to entrepreneurship and improving the lives of small business owners everywhere empower him to host “The Property Management Show” bi-weekly Podcast and speak internationally on the subjects of Growth, Marketing, Sales, and Entrepreneurship.

2 Comments

  • Avatar for Alex Osenenko Sally La Bate says:

    Hi Alex,

    Thank you for your video…..I learned allot and am looking forward to your next video! I always look forward to your videos! So thanks again for all your help.

    Best regard’s,
    Sally La Bate

    • Avatar for Alex Osenenko Alex says:

      Thank you kindly Sally, this means a lot. If you have any other growth-specific related questions you’d like us to tackle, please leave us a comment and we’ll attempt to share our collective wisdom in subsequent blogs. Thank you!

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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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