Life as a Leasing Agent

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Life as a Leasing Agent

May 17, 2021

Life as a Leasing Agent

Life as a leasing agent is never boring. With a combination of working in an office space and touring rental properties, this working environment creates new experiences every day. Working as a leasing agent is a great job for anyone wanting a career in the real estate industry, especially property management. The leasing agent is responsible for leasing apartments and rental properties to prospective agents. There are many tasks that the leasing agent must know how to perform adequately to fulfill this objective. Working for a temporary agency that trains leasing agents, such as Leasing Temporaries, is a great way to start as a leasing agent. Leasing Temporaries will set you up for success by giving you in depth training before you ever step onto a property as a temporary leasing agent.

The property management industry in the United States generates about $88 Billion in revenue and there are roughly 281,345 property management companies in the U.S. With an employee turnover rate of 33%, far higher than the national average of 22%, property management is a great industry to have a career in. Starting as a leasing agent will help you to gain significant experience that will propel your career in this field. If you are someone with great communication skills, enjoy talking to people, have a positive attitude and want to get into property management, working as a leasing agent could be an amazing opportunity for you.

What Do Leasing Agents Do?

The main objective of the leasing agent is to get prospective residents to sign a lease for the rental property. Seeing every prospective resident as a future resident is key. Working at a temporary staffing agency that trains their leasing agents to be proficient in their closing skills is the best way to learn how to do the job properly. Leasing Temporaries trains their staff to be efficient leasing agents and know how to conquer any circumstance that comes their way. Below are daily facets of the job that any leasing agent should be trained in:

> Handling Telephone Inquiries

While in the office, a leasing agent should expect to get phone calls daily. While some will be from current residents who have questions, need maintenance, etc., the leasing agent has the responsibility of handling calls from future residents. A leasing agent needs to know how to talk to future residents on the phone to get a close on a lease. There will be many telephone inquiries from interested future residents wanting to know more about the property. The main objective for the leasing agent while on a call with a future resident is to “close” on an appointment to show them the property. Proper telephone etiquette training can teach the leasing agent how to get appointments for the future resident to come see the property, which is essential to close on a lease.

> Replying to Email Inquiries

Another task that a leasing agent should be expected to have to perform daily is replying to emails from future resident. It is important for a leasing agent to be trained in replying to email inquiries. Future residents that contact a property via email are highly interested in the property, yet 70% of these leads are never contacted! Replying to these emails as soon as possible is crucial to getting a close. When online future residents are called back within an hour the closing success rate is 93%. After just 8 hours, the rate falls to an 84% failure rate. This is why it is so important to get in touch with these leads immediately and be trained in proper email etiquette. Setting an appointment, closing on a lease, getting relevant information and much more can be done with a future resident using email communication and the internet, making it a key learning objective for leasing agents.

> Showing the Property

When a future resident arrives for an appointment, the leasing agent is expected to tour the property with them. No matter if the property is residential or commercial, a leasing agent must know how to show the property so they can close on the lease. Leasing agents need to be prepared for the possibly of tours every day, whether appointments have been set for the day or not. This is important because you never know when a last-minute appointment will be set or when you will have a walk in. Knowing which unit(s) will be shown and making sure that they are clean and presentable is a responsibility of the leasing agent and they should check these units every morning for proper upkeep. Being trained on how to plan your tour route, property curb appeal, showing your target units, and getting the property market ready is pivotal for any successful leasing agent. Some critical success factors when showing a property include being on time, looking presentable, making sure the property is presentable, and having extensive knowledge on the property.

> Gathering Information on Site

The most important part of the job of any leasing agent is when the front door opens and a future resident walks in. From the time the future resident enters the community, their impression of the property, management company and employees depend on the leasing agent. Seems like a lot of pressure, right? Don’t worry, being properly trained on greeting future residents will prepare you for when they come through the door. After greeting the future resident, it is important to have them fill out a guest registration card. The guest registration card will provide the information needed to determine the future resident’s needs, ensure they meet the rental qualification criteria, and serve as documentation for fair housing. Knowing how to properly gather information from a future resident while they are coming to see the property is necessary to be trained in so the future resident can have a comfortable experience while meeting with the leasing agent.

>Overcoming Objections

While interacting with future residents, a leasing agent can expect to come across objections that the future resident has with the property. An objection is any obstacle or concern that can prevent the closing of the lease. Objections occur when there are doubts or unanswered questions in the mind of the future resident. Knowing how to handle objections and ease the mind of the future resident is something that every leasing agent should be expected to get trained in. If trained properly, a leasing agent will know many types of objections and how to talk through them with the future resident in a way that removes the objection as an obstacle for the closing of the lease.

> Closing

From the first moment a leasing agent makes contact with the future resident (whether it be on the telephone, through email, or on site), closing begins. Everything done during the leasing process is leading to the close. With training, a leasing agent will acquire key knowledge that enables them to become a successful closer. Knowing different closing methods and how to converse with future residents is essential. Closing leases is the leasing agent’s job, extensive training on the closing process and the steps leading to the close will help you to excel as a leasing agent.

How to Become a Trained Leasing Agent

Now that you know what the daily life of a leasing agent entails, you probably realize that being trained for this role is pivotal for success. While some companies will accept temporary or even full-time leasing agents with little or no training, training can help you stand out from other leasing agents, keep your job, and even move up in the property management industry. One of the best ways to start as a leasing agent is to work for a temporary agency that specializes in property management. A temporary agency will help you to gain experience and network with many different properties since you will be placed at different properties regularly. When looking for a temp agency that specializes in property management, it is important to ask them if they train their leasing agent. Surprisingly, a lot of companies view their temporary leasing agents as warm bodies to place in properties with very little or no training. However, Leasing Temporaries is a company that values their staff and clients, so they make sure every leasing agent gets paid training before they place them into any property. Leasing Temporaries even offers training services to properties that want to train their current leasing agent(s). Becoming a trained leasing agent is important to close leases with future residents and fulfill the responsibilities needed for any leasing agent to excel.

Start Your Life as a Leasing Agent Now!

If the exciting life of a leasing agent seems like a great fit for you, there is no reason to wait. The sooner you apply for a temporary staffing agency or full time leasing agent position, the sooner you will start your dream job. Just remember, training is the key to success and growth within this industry, do not sell yourself short. The only thing standing in the way of you having this amazing position is you, start today!

Leasing Temporaries, LLC

Managing Owner: Shelly Gray

(614)986-7590

info@leasingtemps.com

www.leasingtemps.com

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Breaking Into Property Management: Top Skills and Traits for Millennials and Gen Z

By Shelly Gray • December 9, 2024

Breaking Into Property Management: Top Skills and Traits for Millennials and Gen Z

How Mystery Shopping Can Boost Leasing Performance

By Shelly Gray • December 9, 2024

The property management industry is evolving rapidly, and the expectations placed on leasing agents have never been higher. In an increasingly competitive market, providing excellent service is not just a goal—it’s a necessity. One of the most effective ways to ensure consistent performance and exceptional customer service is through mystery shopping. Whether you’re a property manager looking to enhance your team’s skills or a property management staffing company like LeasingTemps , mystery shopping offers invaluable insights to improve leasing performance. What Is Mystery Shopping? Mystery shopping is a tool used by businesses to evaluate the customer experience. In property management, a mystery shopper poses as a prospective tenant to assess leasing agents’ professionalism, knowledge, and ability to close deals. This service provides an unfiltered view of how your team interacts with prospects and highlights areas of improvement. The Benefits of Mystery Shopping in Property Management 1. Evaluate Customer Service Skills Leasing agents are the face of your property, and their ability to engage with potential tenants can make or break a lease agreement. Mystery shopping: Identifies strengths in communication and rapport-building. Pinpoints gaps in service, such as missed follow-ups or lack of enthusiasm. 2. Assess Leasing Skills A well-trained leasing agent knows how to highlight a property’s features and address tenant concerns effectively. Mystery shopping evaluates: How well agents promote the property. Their ability to handle objections and guide prospects toward signing a lease. 3. Ensure Policy Compliance From fair housing laws to company-specific guidelines, compliance is crucial. Mystery shopping ensures: Adherence to legal requirements during interactions. Consistent application of internal policies and procedures. 4. Boost Team Morale and Accountability When done constructively, mystery shopping isn’t just about identifying problems—it’s about celebrating successes. Sharing positive feedback can boost morale and motivate agents to maintain high standards. How Mystery Shopping Works The process typically involves these steps: Customized Evaluation Criteria : Define what you want to measure, such as communication skills, property knowledge, or sales techniques. Shopper Assignment : Mystery shoppers visit your property or conduct inquiries via phone or email, mimicking real prospect interactions. Detailed Reporting : After the visit, you’ll receive a report detailing the shopper’s experience, including areas of strength and opportunities for growth. Real-Life Success: The Impact of Mystery Shopping Consider this scenario: A property management company noticed their leasing rates were declining despite steady traffic. After implementing mystery shopping, they discovered: Leasing agents were not asking closing questions. Prospects were not being offered additional services, like virtual tours. With targeted training based on mystery shopping feedback, the team improved their lease conversion rate by 20% within three months. Why Choose LeasingTemps for Mystery Shopping? At LeasingTemps , we specialize in mystery shopping for the property management industry. Here’s why our clients trust us: Tailored Evaluations : We understand the nuances of leasing and create custom evaluations to fit your needs. Experienced Shoppers : Our team includes individuals familiar with the industry, ensuring detailed and accurate assessments. Actionable Feedback : Beyond reports, we offer training solutions to address specific challenges identified during mystery shops. Take Your Leasing Team to the Next Level Mystery shopping is more than just a performance review—it’s a tool for continuous growth. By identifying areas for improvement and celebrating successes, you can create a leasing team that excels at every interaction. If you’re ready to improve your leasing team’s performance and enhance your property’s reputation, check out our training and mystery shopping services . Together, we can make every tenant interaction a success.

The Future of Property Management: Embracing Technology

By Shelly Gray • December 5, 2024

The Future of Property Management: Embracing Technology

The Importance of Customer Service in Property Management Staffing

October 28, 2024

In property management, the success of any business is closely tied to tenant satisfaction. A positive relationship between tenants and property managers plays a pivotal role in ensuring long-term occupancy and reducing turnover, ultimately leading to higher profitability and fewer vacancies. One of the most effective ways to foster these relationships is through top-notch customer service. When property management staff are customer service-oriented, they create a welcoming, responsive, and supportive environment that significantly impacts tenants' experiences. This blog post explores why customer service is vital in property management staffing, how it contributes to tenant satisfaction, and the benefits it brings in reducing turnover. Why Customer Service Matters in Property Management Property management is unique compared to many other industries because it involves maintaining ongoing relationships with tenants, often over several years. These tenants rely on property managers not only to provide them with a functional and safe living environment but also to address concerns and needs quickly. Every interaction between tenants and property management staff impacts the overall experience, making customer service a central component of success. There are several key reasons why customer service plays a crucial role in property management: 1. First Impressions and Onboarding The first interaction a potential tenant has with a property management team sets the tone for the entire relationship. A friendly, informative, and helpful staff member can make a significant difference in whether a prospective tenant chooses to rent from that property. From answering questions to facilitating tours, customer service during the onboarding phase is crucial. A smooth and welcoming experience not only attracts tenants but also makes them feel confident in their decision, starting the relationship on a positive note. 2. Building Trust and Rapport Trust is the foundation of any successful relationship, including that between tenants and property management staff. When tenants trust their property managers to handle issues professionally and promptly, they are more likely to feel comfortable and satisfied with their living situation. Building trust comes from consistent, reliable communication and responsiveness. Staff who show empathy and understanding when handling tenant requests or complaints contribute significantly to the tenant's overall sense of well-being. 3. Effective Communication Communication is central to any relationship, and property management is no exception. Clear, respectful, and timely communication fosters a sense of trust and reliability. Property managers who take the time to explain procedures, update tenants on maintenance work, or provide information about property policies make tenants feel valued. Proactive communication—such as notifying tenants in advance of scheduled maintenance or changes in policies—demonstrates that the management is attentive to their needs. Tenants are more likely to stay when they feel informed and heard. 4. Resolving Issues and Handling Complaints In any rental situation, problems are inevitable—whether it's a maintenance issue, a billing question, or a noise complaint. What sets a great property management team apart is how they handle these problems. Tenants appreciate prompt, effective resolutions to their issues, and the speed and professionalism with which complaints are handled can either strengthen or weaken the tenant-manager relationship. Customer service-oriented staff understand the importance of listening to tenants' concerns and taking swift action, preventing small issues from escalating into larger disputes. 5. Creating a Sense of Community Properties are not just buildings; they are homes where people build their lives. Property management teams that focus on customer service contribute to creating a sense of community among tenants. Organizing events, communicating about community activities, and encouraging a respectful, harmonious living environment make tenants feel more connected. This connection often leads to higher satisfaction and a desire to stay within the community longer. How Customer Service-Oriented Property Managers Reduce Turnover One of the biggest challenges in property management is tenant turnover. Each time a tenant leaves, property managers must invest time and resources into preparing the unit for the next occupant, including marketing, cleaning, repairs, and screening potential tenants. High turnover can quickly drain resources, while tenant retention can lead to steady cash flow and lower operating costs. Here’s how customer service-oriented property management staff can significantly reduce turnover: 1. Enhancing Tenant Satisfaction Happy tenants are more likely to stay in their units. When property management teams provide excellent customer service, tenants feel appreciated and valued. This leads to higher levels of satisfaction and a lower likelihood of tenants leaving at the end of their lease. Studies show that tenants are more willing to overlook minor inconveniences or higher rental costs if they feel they are being treated well. In contrast, even a perfect property in terms of physical maintenance won’t hold onto tenants if the management staff is rude, unresponsive, or dismissive. 2. Addressing Problems Before They Lead to Turnover Often, tenants leave properties because their concerns are not addressed in a timely or satisfactory manner. It may be a chronic issue with maintenance, unresolved noise complaints, or general dissatisfaction with management's responsiveness. Customer service-oriented staff actively listen to tenant concerns and work to address them before they escalate. By staying proactive, they can resolve potential issues before they cause frustration and lead to a decision to move. 3. Fostering Long-Term Relationships Personal connections matter in any service industry, and property management is no different. When property managers know their tenants' names, remember important details about their living situation, and show genuine concern for their needs, tenants feel more attached to the property. This sense of connection fosters loyalty, making tenants more likely to renew their leases. Staff who go the extra mile to ensure tenants feel comfortable and appreciated make a lasting impact. 4. Creating a Stable Living Environment High tenant turnover disrupts the stability of a community. When tenants constantly come and go, it can create a transient feel, making it difficult for long-term residents to feel settled. Customer service-focused property managers help to maintain stability by cultivating a community atmosphere where tenants feel at home. This sense of continuity encourages tenants to stay longer, as they feel secure in their surroundings. 5. Positive Word-of-Mouth and Referrals Satisfied tenants are often the best advocates for a property. When tenants have positive experiences with management staff, they are more likely to refer friends or colleagues to the property. Word-of-mouth recommendations reduce marketing costs and attract quality tenants. Additionally, positive online reviews can enhance a property’s reputation, drawing in prospective renters who value excellent customer service. This referral cycle leads to lower vacancy rates and fewer resources spent on acquiring new tenants. Best Practices for Customer Service in Property Management Staffing To ensure property management teams provide excellent customer service, it is essential to implement best practices that promote tenant satisfaction and retention: 1. Training and Development Property management staff should receive regular training on customer service best practices. This includes communication skills, conflict resolution, empathy training, and problem-solving techniques. Investing in staff development ensures that they are well-equipped to handle the various challenges that arise in property management. 2. Creating a Customer-Centric Culture Management should foster a culture that prioritizes customer service at every level. From the front desk staff to maintenance teams, everyone should be aware of the impact they have on tenant satisfaction. Encouraging a customer-centric mindset ensures that staff consistently strive to exceed tenant expectations. 3. Implementing Feedback Systems Actively seeking feedback from tenants allows property management to understand what is working and what needs improvement. Implementing regular tenant surveys or providing easy ways for tenants to share their thoughts helps management teams stay proactive. Addressing feedback in a timely manner shows tenants that their opinions are valued and taken seriously. 4. Setting Clear Expectations Tenants should know what to expect from their property management team. Clear communication regarding maintenance schedules, office hours, and response times sets the standard for interactions. When tenants are aware of what to expect, they are less likely to feel frustrated by delays or misunderstandings. 5. Utilizing Technology for Better Service Technology can enhance customer service in property management. Online portals for rent payments, maintenance requests, and communication provide tenants with convenient and efficient ways to interact with management. Streamlining these processes improves the tenant experience and reduces frustration. Conclusion In property management, exceptional customer service is more than just a "nice-to-have"—it is a vital component of building lasting relationships with tenants and reducing turnover. Customer service-oriented property managers help create an environment where tenants feel valued, heard, and supported. These positive interactions lead to higher satisfaction levels, which directly translates into lower turnover rates, fewer vacancies, and a more stable community. By prioritizing customer service in property management staffing, businesses can not only improve tenant retention but also enhance their reputation and profitability in a competitive market. In the long run, the investment in building strong tenant-manager relationships pays off in the form of long-term loyalty and financial success.