Disqus - Latest Comments for lisatrosien

Re: Tell Them How Much You are Moved by the Neighborhood

lisatrosien — Fri, 11 Sep 2009 08:10:36 -0000

I'm not saying to 'focus' on price, but Mike's post says nothing about pricing, at all. There has been quite a bit of discussion in the multifamily space lately about 'avoiding' discussing pricing with prospects as much as possible and I simply have to disagree.

Selling location is definitely important, but pricing will not 'simply fall into place'. Prospects have a right to know the pricing of the product and to avoid discussion altogether is simply, in my mind, not a smart strategy.

The concept of revenue management places price at the forefront of the discussion. In working with Yieldstar, as I know JC Hart does, you have to determine individual need factors for Yieldstar to give you a price. I have yet to see a Leasing Professional that uses Yieldstar to go through a demonstration and 'tour' of the community without going to Yieldstar first to obtain the quote sheet. If JC Hart does the quote at the end of the tour, I'd love to hear about it and how successful it is.

I think avoiding the presentation of price is a deterrent to selling value in the sales process.

Re: Tell Them How Much You are Moved by the Neighborhood

lisatrosien — Thu, 10 Sep 2009 20:23:06 -0000

Mike, I love you like a brother, but I have to (vehemently) disagree with you here.

This is the second discussion I've had recently regarding the whole 'not discussing price' issue. And I remember when this started out as a philosphy back in the 80's. My owners were adamant; I was not to discuss price; I was to 'tell the story' and avoid price discussion.

It failed. Miserably. And believe me, I tried. Especially today, in our oh-so-price sensitive economy, pricing is important. While I agree with the concept of building value, I very much disagree on not discussing price.

Re: Apartment Marketing Idea: You are not Your Apartment Prospect

lisatrosien — Mon, 07 Sep 2009 14:15:47 -0000

I think the ABC stands for "Always Be Curious" as well. If you STOP wondering what they like and think you know it all, you'll remain where you are; stagnant. Today's renters have changed significantly, especially our Gen Y. Studies by the University of Michigan have shown that our newest renters have been the most affected by the recessionary economy. It appears they won't be as willing to spend on luxury apartment homes as they were in the past, and I doubt Mom and Dad are going to be as willing to supplement a more lavish lifestyle. After all, the Boomer parents are now adding years to their working days due to the decimation of their 401K's.

All apartment operators need to 'Always Be Curious' about their renters' habits, tastes, desires, needs and wants or they will Always Be Crushed by their competitors.