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The heART of the Deal: Psychology of Apartment Leasing – the Evidence Fundamental

Mar 1st, 2011
by jameswb.
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Our customers have been trained to question claims and promises.  People expect lies.  How do we demonstrate our credibility?

Key:  I can’t deny what I see.

In a situation where we are being sold we tend to approach it from a negative perspective.  We are prepared to disagree. Our brains spend a great deal of time looking for evidence to support what we have already decided is true.  Therefore, when a sales person says something that runs counter to what we already believe, we deny it by labeling it as a mistake or an out-and-out lie.  This is why it is so important to have proof of what we say—and any proof that your customer can see with their own eyes has the most power.  The strength of this proof is that when you bring it to the attention of your customer, they have to judge it independently and cannot immediately deny it.  Some examples include:

  • A market study showing average rents or occupancies in your area - “See!  I told you that you better not wait too long to put your application in on this apartment home!”
  • Newspaper articles, journal articles or blog entries showing rental trends, the cost of home ownership, discussing the planning, development or construction of your property, etc.  Any positive PR regarding your property should be framed in your leasing center.  More topical information should be placed in a notebook within easy view of your customers.
  • Consumer report information on appliances – some customers question the quality, reliability and energy efficiency of the appliances they will be using.  Provide documentation that you are green and that the quality of the appliances will reduce their face time with your maintenance team.
  • Blueprints or architectural reports on sound attenuation, staggered stud common walls, R-factors, etc. – Often in a renovation or new construction scenario, we are selling what will be; not what is!  As such, we are selling the dream.  Provide concrete evidence whenever you possibly can.
  • Actual photographs of the available home in Craigslist ads or e-mail enquiry responses – “Jan, here is a photo of the view from the apartment we talked about on the phone…”
  • Youtube videos –  showing construction in progress or of actual available apartments.
  • A print out of your apartment ratings web pages showing actual customer comments regarding your property.
  • Meeting your residents and staff – one of the beauties of the internet is that the majority of our customers have narrowed their choice based on what they have seen on-line.  Their eventual buying decision is hinging on whether or not there is chemistry.  By taking the time to greet other residents while touring you demonstrate that you care about your customers after the sale.  In addition, when they meet other members of your team, it gives them more evidence that you are good people and will take care of them.

Evidence depends on its source for credibility.  For example, many customers today realize that apartment ratings sites are often used for revenge so while they may read them; they take these comments with a grain of salt.  The same is true for the photos we use in our advertising.  Our customers are used to ‘models’ (both human and structural) being airbrushed and photo-shopped.  This is one reason that videos have become increasingly effective (they demonstrate what the customer would actually see if they were in the apartment).  Look for credible evidence that supports your sale.

Evidence is especially important when we are uncertain.  Uncertain moments for most of us include when we are going through a life-change (going away to school, divorce, death of a partner, relocating to a new city, etc.).  This is when we go into a hyper-research mode looking for any evidence we can about our potential buying decision.

Take the time to pull together evidence that supports your customer’s decision to rent at your property.  Look for material that is hard to deny (and thus supports your position and gives them comfort).  Prove that you are a leasing professional with integrity!  When you add this supportive evidence to your already flawless leasing technique, you will be unstoppable!

Cheers!  Jim Baumgartner | Rent Soda

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Posted in: Leasing, Marketing, People Skills.
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Better Retention through Grocery Carts*?

Feb 15th, 2011
by jameswb.
10 comments

In the past, one of my frustrations with new construction is that within 37 minutes of moving in your first residents, ugly beat-up old grocery carts from neighborhood shopping centers start appearing in the common areas.  Grocery carts may be the wire hangers of the multifamily industry:  they reproduce at an astonishing rate.  Why not streamline the look, modify them to protect your walls and elevator cabs and get some marketing oomph from them?

Yesterday, I spent the afternoon working with my friend Linda Kelley, CEMG (Chief Executive Marketing Guru) at City’s Best Marketing (http://www.c-b-m.com/)  in Minneapolis.  She and her team continually work towards the goal of cutting-edge marketing innovation.  I walked into her office and was blocked by a sleek gray cart.  Linda is a lover of fine food.  She ensures that the kitchen in their employee lounge is always fully stocked and has been known for spontaneous acts of culinary.  My first reaction was that perhaps she was trying to efficiently transport food.  But no!  It was a sample of their latest concept:  customized grocery carts!  Now instead of seeing the name of your local retailer emblazoned on your site grocery carts, you can have your site name or company website imprinted on the handle.  As we started brainstorming together (practicing creative one-upmanship) we tossed out other ideas—placards along the walls of the cart featuring discounts for residents at area restaurants and shops; resident referral signs; or flyers announcing resident events, directing folks to your Facebook page, etc.  Why not make these utilitarian tools—items that we don’t even notice when we see them—work for us?

*Or for our friends on the East Coast—Carriages, or in Denver:  Buggy.

Cheers!  Jim Baumgartner | Rent Soda

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Posted in: Marketing, Resident Retention.
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The heART of the Deal: The Psychology of Leasing – the Exchange Fundamental

Feb 4th, 2011
by jameswb.
2 comments

In all human interactions there is a great deal going on below the surface.  This is psychology.  We all bring different understandings, intents and cultural references to relationship; however, there are some concepts that are relatively universal.  In order to be a better salesperson, it pays to understand the psychology of human interactions.

One of these key concepts is the Exchange Fundamental.  In effect, it is the Golden Rule in reverse:  When I do something for you; you are obligated to do something in return for me.  Have you ever been on the receiving end of something nice and the giver says, “Now you owe me one!”  This is an example of the Exchange Fundamental.

Back in the day you might have encountered religious folks in white robes passing out flowers in the airport.  While it appeared to be a gift, an obligation to give something back was created.  The obligation could be paid in the form of money (donation) or your time to listen to their message.

We don’t always exchange cash or concrete things.  It’s really about the perceived value.  For example, when I volunteer to teach, a note of thanks afterwards means so much—it is an acknowledgement that I have given my time and shared my knowledge. The other day, I got a call from a seminar participant thanking me for some practical applications on profiling. This helped her build a positive relationship that will mean a lot of revenue for her company. That call brightened my day.  Likewise, when I give my son a cash ‘infusion’, his hug and ‘thanks, Dad’ means the world to me.

What happens if someone violates the Exchange Fundamental?  As we learn to mimic the behaviors we see on reality television, we may be tempted to take—but not give back.  Doing this risks being rejected by your peer group.  (We subconsciously keep score.) The exception to this is if you are dealing with someone of a higher status.  However, even a higher status person will find that people are less forthcoming as they begin to learn how he or she operates—all take and no give.  At some point, without adequate rewards, the giving on the part of the subordinate will stop—or the least, the quality will drop.

Pay it forward – The Exchange Fundamental gives us confidence that if I help others today, I can count on their help when I need it in the future.  In fact, we can even help people we do not know with the understanding that in our hour of need, there will be someone there to help us.  Carol Burnett, in an interview on William Shatner’s show, Raw Nerve, described how a California businessman invested in her career.  His stipulation was that if she made it big, she had to help others.  So she has set up numerous scholarships to pay back this debt.

So how does this apply to leasing apartments?  Offer gifts just for stopping by.  When you receive a gift, you feel obligated to do something in return.  Some examples include site-monogrammed key lariats at student housing fairs, inviting senior housing prospects to ice cream or pie socials, offering a Target or IKEA gift card as a close or participation in drawings ‘just for stopping by’. 

Consider the guest card exchange:  if you do not fill it out for your prospect, hand the guest card to them and say, “Let me get you a cup of coffee or bottle of water while you fill this out.”  (It’s most positive to lead with what you will do for them.)

If, at the end of the demonstration, you are unable to close your prospect, ask if they have any friends that are looking for housing.  Turn up the heat by offering a small referral bonus.  This creates the opportunity for you to leverage that relationship into a new relationship—and thereby make it easier to close a new sale.  The majority of prospects will search their minds for referrals in an effort to ‘even the Exchange score’.

Whether we are comfortable with it or not, there is a lot going on below the surface!  Take the time to understand how the Exchange Fundamental can work for you.  You will find that it positively impacts your closing ratio—and it will increase your network of friends and supporters as well!

Cheers!  Jim Baumgartner | Rent Soda

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Posted in: Leasing, Marketing, People Skills, Success.
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What’s In a Name?

Feb 1st, 2011
by jameswb.
3 comments

I just came from working out at my gym.  Although I really shouldn’t call it a gym because it’s one of those shiny places with new equipment, wallpaper, carpet and amazing equipment.   Midway through my workout, they announced a special add-on membership deal through the end of the month.  They closed with an invitation to see a Membership Engagement Associate.

Say what?

My first thought was, “Is my gym offering matchmaking services?”

Nope.  A Membership Engagement Associate is a sales person.  Their job is to sell—in an engaging way I’m sure—memberships.

That got me thinking about a discussion I had a while back with a site Leasing Consultant (aka sales person).  We had just hired a corporate leasing consultant and given her the title of “Corporate Leasing Specialist” (aka sales person).  This caused envy amongst the ranks.  In fact the site Leasing Consultant with whom I was having the conversation had just had his business cards reprinted with the title “Leasing Specialist” under his name.  He was pretty stoked about it.  It struck me at the time that this simple title change had a hugely motivating impact.

Fast forward to a few weeks ago:  During participant introductions in a training class I led, a leasing consultant proudly announced her title (it was far grander than Leasing Consultant) and her company name.  Her pride struck a chord.  I had seen similar pride in other employees from that organization in the past.  The company is a good one but in her mind it is bigger than life!  Her employer has done a great job of naming the position, training the staff that fills their sales positions and creating an amazing sense of team.  The result of this has been an ability to close more Leases (sell) at a higher rate than their competitors.

How cool is that?

I don’t think that just the title resulted in all that.  However, using a cool title as a starting point, the company has built an entire culture that values their sales people.  This sense of value and esteem is reflected in all aspects of their work.  They are able to represent themselves as elite professionals to their customers which is reflected in several ways:  1) the sales people have greater confidence in themselves, 2) the customers have greater confidence in the sales people and 3) the customers have greater confidence in the product being sold.  It is a self-fulfilling prophecy that has resulted in a greater ability to close the sale.

So from now on, please refer to me as an Organizational Behavior Modification Advisor.

Cheers!  Jim Baumgartner | Rent Soda

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Posted in: Human Resources, Leasing, Marketing, People Skills, Success.
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Renting to Students: 4 Steps to Marketing to College “Renters-in-Training”.

Jan 28th, 2011
by jameswb.
2 comments

As we near the end of January, if you rent to college students it is time to make sure you are geared up to rent your September 2011 availability. 

What?!  Already?

Absolutely, this is a demographic that is focused on finding and locking in the best apartment for Fall Semester.  At this point, they are considering who their roommates will be, what they want in housing for next year (party place, jock dorm or library) and where the best location will be. 

Step One:  Determine who will be renewing and who will be vacating.  You need your availability as soon as possible.  Many students want to finalize their housing before finals (as early as April).  (Ideally, you can build this language into your Lease.  If it is not in your current Lease, make sure to add it at renewal.  In the meantime, offer an incentive for current residents to renew or give notice early so you can get the apartment re-rented.)

Step Two:  Let people know—Advertise.  Once you know how many apartments you will have available for the new school year, determine what your closing ratio is and therefore how much traffic you have to generate.  Ideally you will get a lot of traffic through Craigslist.  However, you should also send flyers, post on your Facebook page, e-mail blast, etc. your current residents offering a refer-a-friend special.  In addition, advertise in the student newspaper/web site.  Also, speak with the student affairs offices to let them know you have availability and ask them to refer students to you.  Find out when any housing fairs are taking place so you can participate.  Make sure a banner is on the building (where municipal codes allow) letting prospects know you are renting–and how they can find out more about you.  If you have the ability to text for information or instant message, this is a great resource for students.  Remember, this is a very tech-savvy demographic.

Step Three:  Understand your market.  Student housing can be a challenge because you are marketing to students (“Where’s the party!”) and parents (“You’ll keep my baby safe, won’t you?”)  You will have parents touring with their off-spring.  Therefore you have to market to both.  Remember the parental hot-buttons:  safety, security, well-lit common areas, consistent management and for you to protect their babies.  Now consider student hot-buttons:  Close to campus, fun, a place to meet potential dates, exercise room, bike storage and privacy.

Step Four:  Make sure your Lease and paperwork are ready:

Deposit amount:   Are you renting by the bedroom or by the entire unit?  With student housing it can be a helpful marketing tool to break it down into cost per occupant.  You may be able to push your rental rates because $400 per occupant (assuming four occupants) doesn’t sound as expensive as $1,600 for the unit.  If you have been in business for a while, review what your average damage charges have been at lease-end and charge that amount.  If you are new, look at what your comps are charging. 

Lease considerations: 

If you are new to student housing, make sure you have the ability for parents to co-sign the Lease.  Students have no rental history so they are difficult to qualify.  In addition, if the parents are on the Lease, you can contact them if issues come up.  Make sure your screening is consistent.

Clarify that each person on the Lease for any given apartment are responsible for the entire rent (‘jointly and severally’).  This is helpful when the inevitable roommate disputes arise.  Consider offering roommate referrals—pairing people to alleviate the fear of being left holding the bag for the entire rent amount.  (However, due to liability concerns make sure there is an understanding that you are making no guarantees.)

One complaint of student housing is that it is often a seasonal business.  Make sure to specify that you allow only one year Leases.  In this way they start at the beginning of the school year and end right before the next school year begins.  (This does make turnovers a challenge; however, your owner will appreciate the revenue.)  Determine if you are comfortable with your residents subletting to summer students.  If you are a high-demand property in a high demand location, you can have stricter guidelines.  If you are on the periphery (aka ‘location-challenged’) or in a new lease-up, you may want to reconsider that.

Policies and Procedures:  Students are very impressionable.  As ‘Renters-in-Training’, remind them that they are creating their credit and landlord histories from this time forward.  Many will understand that their behavior will have results in the future.  Others will not (see notes about parents co-signing above!)  Let them know up-front what your expectations are.  Make sure to cover what is and is not acceptable behavior.  For instance, there will be parties; make sure your language addresses parking and how many people are allowed to visit an apartment.

Renting to students can be fun and rewarding.  They bring great energy to your world too.  Follow these basic steps and you will be geared up to have a positive ‘higher education’ experience!

Cheers!  Jim Baumgartner | Rent Soda

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Posted in: Leasing, Marketing, Policies.
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Success Stories: Two Apartment Managers Who Started Small & Making A BIG Splash!

Jan 26th, 2011
by daisynguyen.
4 comments

This is the first blog in a series of blogs that takes a closer look at success in the multi-family apartment industry – Who’s successful? Who’s Being promoted? How did they do it? and most importantly to YOU as the reader – can their stories help YOU become successful in your apartment industry career?

This blog examines:

Two SUCCESS Stories of Apartment Managers Who Started Small

and Currently Making a BIG Splash!

I interviewed Kate Heitzman of Greco Properties – General Manager at BLUE in Uptown Minneapolis, a 242 unit luxury market rate property and Toni Powell of Bigos Management – Community Manager at Calhoun Greenway also in Uptown Minneapolis, a 350 unit market rate property. Both management companies operate in Minnesota.

Q: How did you get your start in the apartment industry?


Above: Toni Powell of Bigos Management

Toni: By accident! I moved to the twin cities from St. Cloud. The apartment building I moved into didn’t have my apartment ready – they needed a manager, and there I was. It was a 40 unit 1st tier

Minneapolis suburb, class A property. Eventually, they asked me to take over a different 38 unit luxury townhouse project. I did. When my manager left, I asked to take over both properties. I was bored and I needed MORE. They didn’t think I would be able to handle both properties, but they gave it to me, and I made it work.

Above: Kate Heitzman of Greco Properties

Kate: I had always worked in retail management, and didn’t want it anymore. Once I had a kid, the hours didn’t work for me. I did my research and felt that as a single mom, property management would fit into my lifestyle. I applied for a full-time caretaker position at Laurel Village. As you may know, Laurel Village is one of the largest properties in the twin cities metro area with 720 units across 7 buildings spanning 3 city blocks in downtown Minneapolis. On a site this large – there’s a lot of miscellaneous stuff that needed to get done. THAT was me. It gave me a good introduction into property management – I’ve seen a lot and done ALOT. I’ve been surprised by people many times, and they STILL surprise me to this day! That’s property management for you – never a dull or predictable moment.

Q: How Long did you stay in your first property management job before you decided to move on? What made you decide to move on?

Toni: (I stayed with my first company)…for 3 years and then started to look for opportunities. I get bored REALLY easily, so I need to have challenges!

Kate: I was there (at Laurel Village) for 3.5 years. In the last year, I realized that I would definitely stay in property management, but I REALLY wanted to have my own property to manage. While I was at Laurel Village, I was promoted from Caretaker to Operations Assistant.

Daisy’s observations: It looks like for both Toni & Kate, stayed a decent amount of time with their first employers and learned as much as they could learn. As it does to many people I have talked to in the apartment industry, it HOOKS you, it gets in your blood, and then you’re left looking for MORE. They both wanted MORE > which is the catalyst that prompted them to look for the next step in their career. Interesting!

Q: Where did you go next? What did you decide to look for? How did you find your next job?

Toni: Another peer I networked with worked for Bigos and LOVED the company. So I found a job posting they had listed and interviewed with a Regional Manager at Bigos. I didn’t hear back from him! But I KNEW I wanted to work there (at Bigos), so I decided to call him once a week for 2 months. I had heard that the “word on the street” was that I was not a good fit for the property I had applied for, but I knew in my heart, I wanted to work for Bigos. My persistence DID pay off. Another Regional Manager at Bigos called me and offered me a job at Mallard Creek – 120 units in Golden Valley. It was a market rate, older property (20 years old) in a GREAT area.

Daisy: Here’s a woman who doesn’t take “no” for an answer!

Toni: I stayed at Mallard Creek for 3 years, and during that time, I handled a total rehabilitation of the property (interior and exterior) – it kept me challenged and I was constantly learning new things.

Kate: I started to look for opportunities where I could manage my own site, and saw an ad for a Section 8 property in Edina. It was 80 units spread across 4 different buildings – similar in set-up to Laurel Village, but that was where the similarities ended. It was MUCH different in size and demographics. I stayed there for 1.5 years – I worked hard, I did everything from ripping out carpet with my Maintenance guy, plunging toilets, to doing Section 8 paperwork. You name it, I did it. I’ve not only become pretty handy with tools, when I work with Maintenance, they respect me, as I’ve done many of the things they’ve done right alongside them. I learned everything I could about managing my own site, and my next opportunity was a larger site in Chanhassan – 162 units. I stayed there for a year before realizing I didn’t like being so far out. From there, I was contacted by someone I knew in the industry to manage a 290 unit property in St Louis Park. My sites kept getting bigger and bigger, my responsibilities grew, and I learned A LOT during this time!

Q: Why/How did you decide to go about finding your next opportunity?

Toni: I love working for Bigos. I have great managers/supervisors. I communicate with my supervisors that I want something new, and that I can get bored really easy. They always find ways to challenge me. I love new challenges. After Mallard Creek, when I started getting bored again, I started to apply to other openings in our company, but I didn’t get the positions I applied to. In hindsight, it was a GREAT decision both for myself and for Bigos – because I got to do all the things I did, learned a lot, then when I WAS ready, Bigos was there to challenge me. My next challenge was a 245 unit market rate property in Plymouth called Willow Creek – I stayed at Willow Creek for 1.5 years before applying for other challenges within the company. From Willow Creek, I was promoted to Shadow Hills, a 322 unit market rate property – we won property excellence last year at the MADACS – this property is one that I consider my biggest challenge and triumph so far! I’ve been with Shadow Hills now for exactly 12 months, and just when I thought I might get bored, along comes another challenge. (At the time of the interview) – Next month, I will be transferring to a Calhoun Greenway. This is in Uptown – I’ve always been in the first tier suburbs. This will be a whole new area and demographic for me. This is a new acquisition and total rehab of 350 units. It’ll be totally different than anything I’ve done, its different clientele, different location, with lots of moving parts. I’m going to LOVE it.

Kate: Working in the suburbs, I realized I missed the hustle bustle of a densely populated urban area. I knew I wanted to either return to downtown or uptown in Minneapolis. I began networking with people I knew, putting my feelers out for opportunities that met my need. I now had experience, so I didn’t want to go just anywhere. I wanted to find the right match for me & my family. I knew what I wanted, and I was willing to be patient and look for the right opportunity. That’s when I heard about Greco Properties and their new project in Uptown Minneapolis, called Blue. 242 units of luxury market rate apartments in Uptown. This was a new project with a new lease-up – something I had never done, but couldn’t wait to do.

Q: What are the biggest challenges going from a smaller property to bigger properties?

Toni: It wasn’t much different. The more units you had, the more people you have to get everything done. For me it wasn’t a change. You just learn to manage and increase your employee base, and work on larger numbers when thinking about resident retention. The challenges in property management are the same from a small property to a large property – those challenges are resident relations, turnover, staff moral (especially with management company transitions), and the most challenging of all, but also the most rewarding – is to take a property over from another management company and bring it up to the Bigos standard of excellence. We have a standard of excellence – both with apartment residents and employees. Sometimes making those changes can be tough – but in the end, it’s good for everyone.

Kate: The biggest challenge is all the things you don’t know. But just know that its trial & error, and if you’re smart, you can figure it out quickly. The biggest challenge for me is to know what I want out of a job/career. It’s taken me a couple of years of experience to find my niche – find what I liked, what I don’t like, what I am good at, what I am not so good at and find a company who wants me for all the things I do well. There’s a lot of variety out there, and lots of availability. There’s a job, career, company for everyone. You have to find the right property and right management company for you.

Q: What do you think has played the biggest role in your success – what would you advise others to look for/do to become successful?

Toni: The thing with Bigos is that they’re a big, smartly run company. There’s always another opportunity to do something new. They’ve been a HUGE part of my success. They support their people, they provide education, they have opportunities – it’s a culture of cultivation. Bigos has promoted and moved people within the organization – which has been a HUGE part of my learning, growth and success.

I also advise others to communicate with their supervisors about their long term and short term career goals as well as what you’re good at, and what you want. I’ve always communicated to my supervisors what I want next, let them know I BELIEVE I can get it done. I’ve let them know that I can get bored easily and I need to have new challenges. I have been lucky to have supervisors and managers that listen and utilize me to the best of my abilities.

Kate: Ask A LOT of questions, get to know your peers in the industry, go to the MADACS & other MHA functions, attend networking functions that are offered in the industry to get to know everyone and what’s out there. It’s a big industry, but at the same time, it’s SMALL – you know? You can get to know people, network with them, help them out, treat your vendors well, etc.

I also recommend that everyone get to know themselves and what they want. For me, I have always looked for smaller, more hands-on management companies where they know you personally and where you’re not just another employee. It’s more family oriented. Where you feel like your suggestions and voice is heard – where they DO listen and implement your suggestions. I found out what I wanted through my journey and when I looked for opportunities, I paid attention to what made sense to me – what I wanted out of a management company. When I’ve found the right management company – I am able and allowed to be successful.

Daisy’s observations: Both women were high energy, go-getters. Both started relatively small, and grew their success from there. One went the path of a large management company, and the other went the path of picking smaller management companies with the right opportunities that met her needs. The thing that struck me about BOTH of them is that they both KNEW themselves well – knew what they wanted, knew what they were good at, and knew what they were looking for. I talk to A LOT of people – there are MORE people that are confused about who they are and what they want to do than there are people who KNOW themselves. These women KNEW themselves. This is part of their success.

Something not noted in the blog, but I want to mention, is that both Kate & Toni talked extensively about their team and resident strategies. It is clear that both liked working with people, and both women valued working in teams, as well as valued their teams.

It is our hope that through our SUCCESS STORIES series, you, the reader, will find new inspirations, new ideas, new ways of becoming successful. Our next SUCCESS STORIES blog will be focusing on individuals who have been successful making a transition from being a vendor in the apartment industry to working at a property management company.

Are you at a small apartment community manager or leasing agent with goals to work your way up? Have you worked your way up and have additional tips to add on what it’s done, and how to be successful at moving towards larger goals? Leave us a comment and share with the readers!

Don’t GET IT? RENT SODA! GET IT!

-Daisy Nguyen in Minneapolis, Minnesota MN

CEO/President

RENTSODA-small

Offering Apartment Marketing, Apartment Business & Operations Consulting & Apartment Leasing Training

Web: RentSoda.com Email: Daisy {at} RentSoda(.)com

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Posted in: Career Advice, motivational, Property Management, Success.

The heART of the Deal | Lessons in Management: The Art of Delegating

Jan 18th, 2011
by jameswb.
1 comment

 Any time you manage other people or projects your life goes from simple to crazy!  The only way to survive is to learn to delegate.  While many joke that they have mastered the art of delegation (and now spend the majority of their time, feet on desk, surfing eBay or YouTube) most supervisors struggle with this key management technique.  Unless managers delegate some of their work, they are acting as individual contributors instead of as a leader. 

To delegate means to assign a task to another person.  This gives them the responsibility and formal authority for accomplishing that task.  One key item to remember is that while authority and responsibility are passed on to a subordinate, the buck still stops at the manager’s desk.  Therefore, monitor progress to ensure that the task is done with quality and on-time.

An added benefit of delegation is that it provides experiential learning.  This allows the entire team to develop and grow.  There will be mistakes but the educational opportunities are well worth it.  Several years ago an employee bashfully entered my office.  I could tell he felt horrible.  With prompting he relayed that he had screwed up on a project and it would cost a property a chunk of change.  I asked, “Will you ever do that again?”  He emphatically replied, “No!”  Consider this tuition for the school of life.  Today he is very successful in the multifamily industry (and he never repeated that mistake!)

There are three basic components to delegation—just think much ADO about nothing:

A – Authority:  The manager needs to pass the authority on to the person to whom the task has been assigned. 

D – Duty:  Assigned the project or task to the person on your team most well-suited to the work.  Make sure you are clear as to what the desired results are.

O – Obligation:  Create a sense of responsibility on the part of the employee—ensure that they will do the work.

The process of delegating by a manager can be done in three steps:

  1.  Make the decision to delegate and ask four questions: 
    1. What are the objectives—what do we need to accomplish?
    2. When does it need to get done?  Is it urgent?
    3. Does the employee have the right resources to get the job done?
    4. Who has the talent best-suited to the task?  (To do this you need to know your team.)
    5. Clearly communicate to the employee:  what is the task, what resources are available to the employee to complete the task and what are the benchmarks to measure progress.
    6. Evaluate how the process went (after the task has been completed):
      1. Were the original objectives met?
      2. Did the employee grow?
      3. Was it done efficiently?
      4. Was the delegation effective?

So why don’t more managers delegate?  When I was a newbie manager, there were quite a few reasons why I stumbled:

  1. No training—I did not know how.
  2. A belief that I could do it better than anyone else.
  3. I came up through the ranks and knew only one way!
  4. No system to measure and assess.
  5. It took too much time (when I am struggling to keep up, it is hard to conceive of the idea that delegating can actually—eventually—save me time!)
  6. Fear of having the subordinate outshine me.
  7. The corporate culture was filled with insecurity and instability.
  8. I didn’t trust my employees—or know them.
  9. The employee rejected taking on additional duties.

So I learned a few things!  I learned that when I delegated to my employees they grew and became stronger contributors to the organization.  The amazing thing was that this enabled me to grow too!  I found that as I hired a team that balanced out my weaknesses, we became a powerhouse!  I got credit for their strengths.  Then I learned to pass the credit for a job well done on to the employee—but if it was a flop, I took the hit.  I avoided the temptation to torpedo the employee who screwed up.  If I did, none of my team would want to take on anything different or new.

I also learned that as an employee, a great way to win the respect of my boss was to take the initiative to take on additional tasks.

So delegate!  You will find that you have more time to manage for the future (because you are taking less time to react).  You will discover jewels in the rough on your team—and with your delegation and accompanying counseling they will turn into highly polished and valuable jewels.  Lastly, it will help you grow to the next level.  And that’s the heart of the deal!

Cheers!  Jim Baumgartner | Rent Soda

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The heART of the Deal | Lessons in Management: The Dynamics of Relationship

Jan 11th, 2011
by jameswb.
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Life has a way of dropping needed messages in our laps that, when pieced together, bring new insight. The news of another shooting spree came after I had finished teaching a management class where we had discussed Transactional Analysis (basically the study of interactions—or ‘transactions’—between people) and its impact on our relationships with internal and external customers. 

Transactional Analysis is a method of understanding human behavior and interactions—a concept discovered and popularized by Dr. Eric Berne in his book The Games People Play.  His work was carried forward by one of his students, Dr. Thomas Harris (the author of I’m Okay – You’re Okay).  Dr. Harris outlines four positions of ‘Okayness’.  The shooter in Tucson was a classic example of “I’m not okay – you’re not okay”.

Before delving into ‘Okayness’ and its impact on our internal and external customers, we need a firmer understanding of the background of Transactional Analysis.

Ego States:  The Foundations of Transactional Analysis

Dr. Berne theorized that there are three ego states: child, parent and adult.  These are based on the belief that our life experiences impact the way we look at the world.  We learn the first two ego states from our parents and authority figures.  In fact, he believed that we literally record every event in our brains—to be relived, remembered or replayed later.  We drift in and out of ego states within seconds; however, we have a tendency to spend more time in one.

Child Ego State – When we are children, we record the internal events that are associated with external events we witness.  Basically these are the emotions or feelings that are tied to those events.  This ego state typically exhibits childlike behavior such as tantrums, selfishness, a desire for immediate gratification and raw emotions.  It is referred to as the ego state of “I Want”.  In an appropriate setting (out on the town, a party, at a football game, etc.) it is a wonderfully fun and releasing place to be.

The Parent Ego State – Also learned in childhood, we modeled this ego state on our parents’ (or others in a parent-like role) values and prejudices.  It is thought that there is a massive collection of external events that were perceived during the first five years of life.  These might include: “never take candy from a stranger”, “look both ways before you cross the street” or “always chew with your mouth closed”.  During the first five years of life, the child receiving these messages and events has no way of filtering the information.  Have you ever watched children play and heard your words (and tone) come out of their mouths?  I will never forget my shock the first time I opened my mouth to reprimand my son and my father’s words came flooding out.  I had sworn I would never say that—and yet I spoke it as if on ‘auto pilot’! This is the ego state of “I Should”.   

The Adult Ego State – the final state, this is what we perceived to be different from felt (Child) or observed (Parent).  At around one year of age, we are able to exhibit gross motor activity:  grabbing a toy, playing peek-a-boo, etc. We converted the information gathered from these situations into information. According to Berne, the Adult ego state is “principally concerned with transforming stimuli into pieces of information, and processing and filing that information on the basis of previous experience.”  It acts as a referee between the emotional pinings of the ‘Child’ and the biased ‘Parent’ to sift out the facts and draw a satisfactory conclusion or compromise.  It is the ego state of “I Will”.

(While Berne was influenced by Freud, do not confuse his three ego states with Freud’s Id, Ego and Superego.  It was Berne’s belief that instead of finding ourselves in a stage, human personality is multi-faceted.  Each of us contains personality factions that collide with each other.  These interactions and collisions between our factions result in our thoughts, feelings and behaviors.)

 A researcher who greatly influenced Berne’s study of Transactional Analysis was Dr. Wilder Penfield. Using electric currents Penfield discovered some amazing things about our brains.  Some of Penfield’s findings that most influenced Berne were:

  • Our brains record events like a camcorder.  You may not be able to access the information at a conscious level; however, it is always in your brain.
  • The event, as well as the feelings that were experienced during the event, is stored in your brain.  As such, they are entwined and neither can be recalled without the other.
  • When recalling a past event, they will be so vivid that the same emotions will be felt.

Is it any wonder that we have ‘hot buttons’ that cause us to feel extreme emotions? 

The goal of understanding that we all wander in and out of one of three ego states is to enable us to better gauge our customer’s point of reference.  If your customer is yelling at you for towing their car for snow removal (Child ego state) you probably will not have great success if you respond by saying, “Well, you know you shouldn’t have parked it there!” (Parent ego state.)  This transaction is known as a crossed ego state.  Your goal is to get them into a complementary or parallel ego state so a constructive discussion (transaction) can take place.

Fast-forward to Dr. Thomas Harris.  A student of Berne’s, he took the study of Transactional Analysis to a new level.  In his book I’m Okay – You’re Okay he relays that as babies, we learned that we are completely dependent upon ‘big people’ and therefore not okay.   As we grow, we can become more accepting (and therefore move towards a sense of okayness) as a result of positive input and reactions from others or we get stuck in a very negative self-concept.  (Negative inputs would include comments like: ‘why can’t you be more like your father?’, ‘don’t be such a baby’ or ‘you’ll never amount to anything’.) Therefore, we start out ‘bad’ and need to be talked out of it.

There are four positions or attitudes of Okayness:

  1. I’m Okay – You’re Okay:  This is expressed by self-confidence, relates well, accepts people at face value and respects opinions.
  2. I’m Okay – You’re NOT Okay:  People holding this perspective are self-righteous and domineering.
  3. I’m NOT Okay – You’re Okay:  These people see the world from their insufficiency and insecurity.
  4. I’m NOT Okay – You’re NOT Okay:  These people exhibit depression and despondence; nothing in life is good.

Jared Loughner, the shooter last weekend, is probably operating out of a position of “I’m NOT Okay – You’re NOT Okay”.  While it is unlikely that we have people waiting to shoot us with real bullets, there are a lot of folks out there with emotional bullets aimed at us.  It is helpful to understand that this condition exists and is not personal.  There are a few steps we can take to counter it:

  1. Take the time to listen; don’t try to shove negative behavior or comments under the carpet.
  2. Make eye contact and smile.  Establish a positive and personal connection.
  3. Understand that you are powerless to bring this person to a place of Okayness.  (Don’t try to rescue.)
  4. Ask about her/his feelings.
  5. Don’t make excuses for behavior lapses—hold her/him responsible.
  6. Be honest about what you need from her/him.
  7. Be empathetic.

We spend the majority of our time communicating and interacting with others; you have the power to make it positive!  Understanding how others can push your ‘buttons’, how you can slide into a less-than-healthy-ego state for the situation or how your sense of self impacts communication will make you a better leader, a better salesperson, a better employee and a better friend.  And that’s the heart of the deal!

Cheers!  Jim Baumgartner | Rent Soda

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9 Apartment Mobile Apps for the iPhone/iPad

Dec 13th, 2010
by daisynguyen.
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With studies showing that the mobile web will rule by 2015 (i.e. more users will access the internet through their mobile devices than their desktops), in the apartment industry, who has apartment-related mobile apps?

As apartment professionals, whether leasing agent, marketing director, apartment industry consultant, property manager, etc, it’s important to see and understand how our prospects are finding us – so that we are reaching out to them in the platforms that they use. We should know which one of our current advertising sources (your apartment internet listing service or apartment ILS) are already mobile ready and which ones aren’t – so that we can make better advertising decisions. If your apartment community’s demographics are likely to use their mobile devices as part of their apartment search – you should come up on that search!

This blog explores the options for the iPhone/iPad. We will explore options for other platforms in a separate blog.

9 Apartment-related Mobile Apps for the iPhone/iPad:

NOTE: These are not listed in any particular order. All apps allow for a traditional search – where you enter in a city/state/zip, as well as a GPS-enabled search to locate near-by apartment rentals. I’ve also noted their average current user rating in the app store/# of ratings as of the date of this blog – most users aren’t going to download all of the apps available. Many of these have similar functionality – just slightly different user interface, branding, and different “special” features. If there are special features to each application, I’ve note them, below.

  1. PadMapper Apartment Search – You can see all craigslist apartment listings on a map closest to your location or closest to the location you enter. This is an app you’ve probably never heard of, but one that it is getting high reviews from users (your apartment prospects) in the app store. They also have an online, desktop version. If you’re listed on craigslist, you’re already listed on this app! Allows you to see the original craigslist add, take/save notes, email, phone,add as favorite, map, and get directions. FREE. Ave 3 1/2 STARS/83 ratings
  2. Another one you may never heard of, “Find An Apartment” searches top apartment websites like Apartments.com, ApartmentGuide.com, Sublet.com, HotPads.com and Move.com and returns the results to the user. The only app we found that cost $0.99 – all the other apps were free. Although they claim to return results from some of these top apartment websites, I could not find those listings on this app in my area. It looked like most listings were coming from postlets, roommatefinder.com and other small organic listing services. To see pictures, you have to click on several screens before seeing the pics. I was surprised that this app had relatively high ratings, when I thought the user-interface wasn’t all that great. Ave 3 STARS/105 ratings
  3. Rentals – this one claims to aggregate listings from the major apartment listing services, but it does not specify which ones. The ones I was able to locate were all from craigslist. This is a much nicer user interface than #2. There is a little hype behind this app, since it was featured on The Wall Street Journal, Business Week, Forbes and Bloomberg. Ave 3 STAR/194 ratings
  4. ApartmentGuide – search ApartmentGuide’s listings. Some options include CALL NOW, SEND EMAIL, and MAP LOCATION right from your screen. Also had photos, floorplans, add to favorites, as well as an option to view recent history. User interface was much nicer than the first 3 apps I listed. Ave 3 STARS/850 ratings
  5. Apartments.com – search Apartments.com listings. Options include CALL, EMAIL, photos and floorplans, as well as a FAVORITES option. They had the “favorites” and “history” convenience options for users. Nice, clean and easy user interface.  They had the GPS-capability to find nearby apartments, but didn’t show all the results on a map – list results only. You can refine your search as well as sort it once your search was returned. 2.5 STARS/398 ratings
  6. ForRent.com – search ForRent.com listings. Options include CALL Property, View Gallery, Check Availability, View Floorplans, Map Property, Tell Friends, and WATCH VIDEO! The only thing I could not find was an easy way to email the property. They have a sort feature that was easy to use and find. One feature I didn’t see anywhere else was the ability to search by a “keyword.” LOVE this feature. They also had the “favorite” option as well as the “recents” option. Nice graphics, user, interface. Ave 3 STARS/8 ratings
  7. Rent.com – you have to have register for an account in order to search.There are lots of comments in the reviews that this is a turn-off for people, which is reflected in their ratings. Options include send email, Call, Claim $100 Reward Card, view photos, save to favorites, refine. Something that most other sites did not offer was a place to add your own notes and photo’s. Nice user interface, clean, neat, graphically pleasing. 2 1/2 STARS/104 ratings
  8. MyNewPlace.com – you can map, send message, email to a friend or save to favorites. This one also had the ability to add notes, as well as a great advanced search. I did NOT see a way to call the site directly from the application. 2 1/2 STARS/64 ratings
  9. ApartmentFinder.com – you can call, email property, view floor plan images, map, GET DRIVING DIRECTIONS (only app to provide this), add to favorites, add notes, and email to a friend. It also had a history feature and advanced search. They have a sort and refine button once you received your results. Nice easy user interface, graphically pleasing. Not sure why it got such low reviews – 2 1/2 STARS/3425 ratings.

Is your listing showing up on mobile searches?

Although the ratings for these apps weren’t stellar, (the highest was 3 1/2 star/5 star possible), based on the number of reviews and comments, people want these apps, they are using these apps, they are thirsty for these apps. What did our prospects want out of an apartment application?

  1. Stability – apps that crash or didn’t work received lots of negative comments and reviews. This was the #1 reason for negative reviews
  2. Availability in major cities – some apps worked great for me – I’m in Minneapolis, but in other major cities, they just didn’t have many results, or didn’t work. Users complained about this. This was the #2 reason for negative reviews
  3. The ease of contacting the site – via email, phone, website, etc.
  4. The ability to refine, sort, do an advanced search.
  5. The ability to return results in a list OR a map.
  6. The ability to see accurate photo’s, floorplans, pricing, etc.
  7. The ability to add notes, comments, track their apartment searching history. etc.

Apps have come a LONG way, and still have some tweaks to go. I am impressed with the availability of these apps, the functionality, and the ease of use. I can’t wait to see what comes in 2011 to the apartment industry, to apps for searching for apartments and to our apartment internet listing services (apartment ILS)!

These apps make searching for an apartment so much easier, and the tools are readily available when the prospect needs the information. Is your property coming up on one of these apps?

Don’t GET IT? RENT SODA! GET IT!

-Daisy Nguyen in Minneapolis, Minnesota MN

CEO/President

RENTSODA-small

Offering Apartment Marketing, Apartment Business & Operations Consulting & Apartment Leasing Training

Web: RentSoda.com Email: Daisy {at} RentSoda(.)com

Become a fan of RENTSODA on facebook.  Connect with RENTSODA on LinkedIn!

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Posted in: Apartment Website, Internet Listing Service (ILS), Marketing, Mobile.

FRESHLY POSTED: January 2011 RENT SODA Training Calendar

Dec 9th, 2010
by daisynguyen.
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Are you READY to POP in 2011? Hit it out of the park? Are you excited about the new year? Want to learn new skills? Need a refresher? Want to get an energy infusion? Learn to profile your boss? Sell more? YAHOO! Let RENT SODA’s TRAINING POP! knock your SOCKS off with our classes.

FRESHLY posted, all with limited seating to ensure the quality of your training/workshop, we are proud to present the January 2011 RENT SODA Training Calendar: (Early bird specials also posted – so register now before they expire!)

01/14/11 ADVANCED LEASING WORKSHOP: Profiling Your Way to MORE Leases! This is an advanced workshop for leasing and marketing professionals who work in the residential apartment industry. CLICK HERE TO READ MORE.

01/17/11 ADVANCED SALES WORKSHOP: Profiling Your Way to MORE Sales! This is an advanced workshop exclusively for sales and marketing professionals in any industry. Designed to address the needs  of sales and marketing professionals, this is a full-day intensive workshop featuring two well-known trainers: CLICK HERE TO READ MORE.

01/20/11 LEASING POP! Leasing Training for Apartment Professionals! This is an entry level apartment leasing training —perfect for your new apartment leasing pro or as a refreshing review for your seasoned leaser! CLICK HERE TO READ MORE.

BLOG IT! Beginning Blogging For Business With RENT SODA! This is an intensive once-a-week for 4 weeks workshop that covers business blogging basics! Thursdays starting January 27th through February 17th, 2011. CLICK HERE TO READ MORE

01/25/11 FAIR HOUSING EXPRESS! Training for Apartment Professionals! Everything you wanted to know about Fair Housing in the apartment industry in 90 minutes! CLICK HERE TO READ MORE

Early bird specials also posted – so register now before they expire!

Want to see what our attendees are saying about RENT SODA classes? CLICK HERE to read their testimonials!

Don’t GET IT? RENT SODA! GET IT!

-Daisy Nguyen in Minneapolis, Minnesota MN

CEO/President

RENTSODA-small

Offering Apartment Marketing, Apartment Business & Operations Consulting & Apartment Leasing Training

Web: RentSoda.com Email: Daisy {at} RentSoda(.)com

Become a fan of RENTSODA on facebook.  Connect with RENTSODA on LinkedIn!

Follow RENTSODA on Twitter!

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Posted in: Training.

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