How to Setup a Solid Property Management Sales Process

FULL TRANSCRIPT: http://fourandhalf.com/setup-solid-sales-process-property-management/ My Co-Host and colleague Jordan Muela, with LeadSimple, visited the Fourandhalf studio to help me map out a solid sales process for your property management company. The topic today is how to set up a sales process for your property management company. The timing is good for us to help you put together a process so you can compete effectively and take advantage of every owner lead that comes into your company. You don’t need specific sales tools. Our guest is Jordan Muela, the creator of a property management CRM system, so his talents are in the sales process and how to automate it. But we’re talking about putting together a sales process that is so simple, it can be written on a notepad. Q: So Jordan, let’s dive right in and talk about the first stage of the sales process. Initially, when that lead comes in, whether it’s an email lead or a phone call, what is the most important thing that needs to be done? A: Discovery is what has to happen first in your sales process. Engage with people. Control yourself and don’t start talking about yourself and what you do. Start the listening process. Ask questions. A: That makes so much sense. It might sound backwards to some people. They think they need the leads first. But if you get those leads and there’s no sales process, you’re wasting your money and the leads will not work. So it’s a first order of business, definitely. Q: For the first few years that we were in business at Fourandhalf, I was the only sales person. It was one of my duties as CEO, but I had many others. The only way I could do sales successfully is by using a process. You may think that if you’re the only one selling, you don’t need a process. That’s not true because without a process, you can’t grow. The sales process for one is as important as the sales process for 10. What else do you have to tell us about techniques for discovery? Property Management SalesA: Qualification is very important. When you’re thinking about sales qualification, we recommend using the acronym BANT – Budget, Authority, Need and Timeline. It’s a handy thing to keep in mind. You need to know if the owner you’re talking to has a budget. If he’s underwater on his mortgage and struggling to keep the home afloat, he might not be the best property management client for you. You need to know if they have the authority – do they actually own the home? Then think about their needs. Do they have crazy requirements for tenants that might be illegal and are they exhibiting problematic behaviors? Can you recognize their pain points and respond at an emotional level? Finally, there’s the timeline. You need to know what their decision timeline looks like. Lots of people skip over this, but you want to know if they are ready to buy now or if they won’t be ready for six months. This is the best way to frame and reference your qualifications in discovery. A: No one has the time to have four 45-minute conversations with different property managers. So once they know they have established trust, they are going to hire you. Q: Caring is really the art here. If they ask what your fee is right away, your answer is simply - we do have different programs for different property owners depending on where you are with your property. Let me ask you – how long have you had the house? Don’t ask for their social security number right off the bat. Find out how they came to be a landlord. Start from far away and build your discovery into a full conversation where both of you are engaged. When you do listen, take notes. Get to know those pain points. Interpret and validate what they say. Keep peeling. They aren’t going to tell you what they are about and they don’t know what to ask. So you need to get them ready to tell you about their pain points. Train yourself on care during discovery and take notes. That will be your first differentiator. So discovery is done. Now you want to talk to them about your products and services. How do you approach presentation? Q: So we have a blueprint: Discovery, Presentation, Closing and Follow Up. That’s it – four steps, and we don’t need to overcomplicate the sales process. Where can our listeners find you, Jordan? A: Check us out at LeadSimple.com. Thanks for joining us. And if you need help with marketing for property management companies, please contact us at Fourandhalf.