If you are actively looking for great residents to fill your investment property then not only are you a property manager, but you are also a salesperson.
Now, being in sales, it would greatly benefit you to know how to develop the skill of selling. So, I’m going reveal the most important question you need to ask to sell something. It’s basic, but very powerful for you to grow your business and get your properties filled quickly.
Currently, in my city of Chico California, as well as cities all over America, there’s a massive amount of new properties being built. Just one glance on websites like biggerpockets.com and you can see that there are more and more people getting into real estate investing all the time. When rental property managers don’t just show properties, but sell properties, it gives them a huge advantage in the marketplace.
First off, sales have a bad rap. When people think about sales, they often think of a used car dealer or someone just trying to pressure them into buying something. Although there are selfish and immoral sales people out there, truly great sales people are honest, noble, and always put the customer’s needs first.
It’s the great sales people who live by referrals, hard work, and taking great care of their customer. They follow up and over-deliver on everything they say. They keep their promises and treat the customer like gold. These are the people that great companies are built on and we love to do business with. So, let’s jump into selling your Chico or Redding rental property to great residents.
Do you believe in what you’re selling?
This is the most important question to ask. Do you believe in your rental property? Do you believe your amenities benefit your residents? If you do, great you’re on your way! But if you don’t, you need to stop right now and examine your motives.
This is hard to teach because believing is an intangible aspect to selling. You can’t really measure or quantify it or even check it off on a list of sales steps to take with the potential resident. This has to do with the heart, so it can be tricky. But make no mistake, just because this is more of an intangible aspect to selling, doesn’t mean it’s not important.
It’s the sales people who don’t believe in their company, their product, even themselves, that won’t be successful in closing deals. If you don’t believe your property is of great benefit to your potential residents, then people will intuitively pick up on that, and they will keep looking elsewhere.
The Best Property for the Price
Most of the rental property owners reading this don’t own the newest property in town, with shiny new amenities, and brand new luxury appliances. That’s ok. You don’t have to believe that you have the best property in town, but you do have to believe that you have the best property for the price.
As you conduct a walk-through with a prospective resident, you must have a deep seeded belief that they will have a great experience living in your rental property and it’s in their best interest to rent from you. If you, or the people who show your properties, don’t believe you have great rentals that are priced right, you will see your units sit vacant for a longer amount of time.
What We Believe
Hignell Property Management believes you need peace of mind, knowing that your investment property is being managed with excellence. We bring over 60 years of unmatched experience in the field of residential property management with a commitment to caring, communication, convenience, competence and cost-effectiveness in all we do.
Whenever Hignell Property Management meets with a prospective owner who wants us to manage their property we always do a walk-through of the property. If we don’t believe the property is well maintained, and if the owner is not willing to fix repairs, then we won’t manage the property. Why? Because we don’t believe it’s a good property to rent – plain and simple.
We manage properties that are 50 years old, but we make sure they are well-maintained and safe places to live. We believe in our properties, which is partly why we have low vacancy rates and have consistently raised rents to match market values. We want every resident manager and showing agent to know deep down in their hearts that every unit they show is going to be a great place to live. The result is people intuitively pick up on that and sign lease agreements right on the spot.
There are many other aspects of selling including understanding your prospects, overcoming objections, and asking for the sale, but if you don’t have the belief in your property, then what’s the point? At that point you’re trying to convince someone to do something that you wouldn’t even do yourself. That’s borderline immoral, and the type of thing that gives sales people a bad name.
So, search your heart. Look at your properties. What are they worth? What are they really worth? Whatever you come up with, that’s what you will be effective in selling. If you have showing agents, then you’re going to need to know that they believe in your properties just as much as you do. If you don’t sell your showing agents, then they in turn will be ineffective in selling prospects, costing you lost rent and units that sit vacant.
The first step in selling anything is being sold yourself.