Handling Tenant Prospect Calls

Tenant prospects who call you usually have one question.  It is the first one they ask.

"How much is the rent?"

Tenants usually do not know the many ways your property might be different from others in the marketplace. They think one 3BR, 2-1/2 bath house with a fenced back yard in a certain school district is like every other one.  If you a quote a price that is higher than any other, they will dump you like last year's fashions.  Even if your rent is competitive, they will usually write it down, finish making their calls, and THEN make a decision about whether to call you back.  If they can find the piece of paper on which they wrote your information.

You must slow down the prospect in their headlong rush to get a rental rate and nothing else.

You must give yourself time to position yourself favorably in the market place of available rentals, establish a relationship, and get them to make an appointment to see your property.

To do these things, you must gain control of the conversation. If a prospect asks a question, and all you do is answer it, they have control.

These are some ideas for slowing down the conversation and gaining control. You should at least PARTIALLY answer their question, otherwise they will get irritated with you.

• The price range for that house is $XX to $YY, depending on lease term, number of occupants, credit score, and any incentives for which you might be eligible. Do you mind if we chat a little bit about your particular needs, and I can quote you a more firm rate?
  
• That particular house/apartment is $BB a month, but we also have very similar units from $AA to $CC, with differing amenities, owner incentives, and other such things.  Can I ask you a few questions so we can focus in for a property that is right for you, at the right price?
  
• The quoted rated for that property is $HH, but the owner does sometimes offer discounts and incentives. Can we talk a little bit more so I can tell the owner about you, and then get back with you about a firm quote?
  
• The quoted rate is $PP for that property, but I have someone who verbally committed to rent it. Nothing in writing yet. Can we talk a little bit more about what you want, and maybe I have something else that will work just as well for you?  If the other person doesn't sign a lease, maybe you'd still be interested in this one, too.

Once you gain control of the conversation, you have the ability to sell yourself, and your property.  That is the difference between high "close ratios" and low close ratios.