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Reading Room Articles Style-Powerful Leasing Techniques "Be-Backs" Do Come Back By Rick Ellis, CPM Ellis Property Management Service Written for Sales and Marketing Magic In the past, we were taught that we only get one chance to close each prospect. Those prospects who would put us off with the statement, "I'll be back" were considered lost leases. These wishy-washy people were called "Be Backs", and the conventional wisdom of "the time" was, "Be Backs don't be back". The astute on-site professional now realizes that this idea about "Be Backs" is no longer true. More and more prospects that tell us they will be back do, in fact, come back to the community. It seems that the typical apartment prospect starts looking sooner and visits more apartments in his/her search for a new home than even a few years ago. Most likely it is the economy -or at least the perception of instability, in the country that causes the prospect to spend even more time shopping for the best rental value. While price is very important, your prospect (future resident) is also looking for the three "S's". Service • Security • Stability Yes, we know you must not use the middle word, "security", due to previous lawsuits regarding apartment communities promising "security". Try words like "comfortable" and "peaceful" instead. Yet, each on-site professional must realize that his or her prospect wants value AND the three "S's". That's why some- times, no matter how well you present your community, the prospect has to "look around a little more". Below are a few techniques and ideas for combating the "Be Back": 1. CREATE URGENCY You don't have to lie and say, "This is the last apartment we have!" to create effective urgency. Try some of these urgency statements to achieve the same result. "This location is very popular. It will go fast!" "The special is great, isn't it? I'm sure the company will not let me lease them at this price for long." 2. 24 HOUR HOLD The length and "deposit" for this tactic depends on your property occupancy and prospect profile. "I don't blame you for looking around. I probably would do the same thing. But, I know you love the apartment, and I'm certain you will not find anything better! Here's what I can do. If you leave $25, I can hold apartment #301 for you until this time tomorrow. " Tell the prospect that her check will not be cashed. You will put it in the safe until her return. Even if the prospect does lease somewhere else, she has to come back to get her deposit. That gives you another chance to close the deal. Remember, the prospect can always go back to the place she left her otber deposit and get it back! 3. "BEE BACK COUPON" Note that this technique should only be used on a property with multiple ready vacancies. The "BEE BACK" coupon is a tool to get the prospect's attention when she gives you the "I'll be back" excuse. We call it "Bee" Back because the little Bumble Bee on the coupon reminds the prospect that you are really expecting her to Be Back! (You can find "BEE BACK" coupons in the leasing section of Sales & Marketing Magic's Tools & Forms). When the prospect says she will "be back", then your response starts like this: "I understand that you want to look around. I think when you check other communities in the neighborhood, you'll find that Southgate does offer the very best value in this area. I think you will be back because I know you can't beat what we offer here!" Yet, don't let it end here. Use the "BEE BACK" coupon to insure your prospect's return to your property. This technique gives the prospect a written reminder and reason to come back. "Of course, many of our visitors say they will "be back". Since I really think you would make a wonderful resident here at Southgate Apartment Homes, I want you to take the BEE BACK coupon. I will date and sign it to make it authorized. This will give you $50 off your first month's rent if you come back and leave your deposit within 72 hours. Please don't lose it because I must have the coupon to give you that special." BE CAREFUL! Only use a BEE BACK coupon as a last resort ...after the prospect has said, "I'll be back", and is walking out the door! If you pull the coupon out too soon, you will give the prospect a reason not to lease now! Now they have a $50 discount for looking somewhere else before they lease at your place! 4. COMPLETE PROSPECT INFORMATION Of course, any follow-up activity to get the prospect back for a second visit will be more effective if the leasing agent gets all of the prospect's qualifying information on the first visit. Don't forget to get the prospect's address and home and work phone numbers so you can call just in case she doesn't "BEE BACK". BOTTOM LINE: GET THE LEASE! Rick Ellis, CPM, is President of Ellis Property Management Services, a consulting and marketing company that offers an array of services to the apartment industry. To read more articles from this author please visit www.smmonline.com. The Sales & Marketing Magic Companies, shares more than 20 years of experience in multifamily housing, encompassing leasing, marketing, management, training, authoring, consulting, developing, and Brainstorming! For more information on , Sales & Marketing Magic for Apartment Managers; the latest Tools & Forms Catalogue; The Annual Multifamily Housing Brainstorming Sessions™; or to receive top ideas, FREE, via e-mail, please call 727-784-9469 or visit www.SMMOnline.com.