Leasing agents are the face of a multifamily property, responsible for attracting and retaining residents, negotiating lease terms, and providing excellent customer service. A great leasing agent can make a significant difference in the performance and profitability of a property, as well as the satisfaction and loyalty of the residents. But what are the skills and qualities that define a successful leasing agent? In this article, we’ll explore some of the essential traits that every leasing agent should have, and how they can improve them.
Real Estate Knowledge
The first and foremost skill for a leasing agent is having a thorough knowledge of the real estate market, especially the multifamily sector. A leasing agent should be able to understand the characteristics and benefits of different types of properties, such as apartments, condos, townhomes, etc., and how they compare to each other in terms of price, location, amenities, and demand. A leasing agent should also be aware of the current trends and challenges in the market, such as supply and demand, vacancy rates, rent growth, competition, and how they affect the leasing strategy and goals of their property.
A leasing agent can acquire and update their real estate knowledge by conducting market research, attending industry events and webinars, reading relevant publications and blogs, and taking online courses. Grace Hill offers a variety of courses on multifamily topics, such as market analysis, fair housing, tax credit compliance, and more, that can help leasing agents enhance their real estate knowledge and skills.
Another key skill for a leasing agent is having strong sales skills, as the role involves convincing potential residents to rent an apartment home at the property. A leasing agent should be able to effectively market and promote the property to prospects using various channels and tools, such as websites, social media, flyers, signs, and sales techniques. A leasing agent should also be able to showcase the features and benefits of the property and the units to interested prospects, using engaging and persuasive language, visual aids, testimonials, and other sales skills. A leasing agent should also be able to negotiate an advantageous deal on behalf of the property owner or manager, by offering incentives, discounts, or concessions, while maintaining profitability and occupancy goals.
A leasing agent can improve their sales skills by practicing their pitch and presentation skills, learning from feedback and reviews, observing successful salespeople in action, and taking online courses. For example, Sales, Inc. offers in-person leasing and sales skills training for leasing teams. In the training sessions they learn valuable skills, such as prospecting techniques and closing strategies that can help leasing agents boost their sales performance and results.
Customer Service Skills
Besides finding new prospects for the property, leasing agents also manage existing residents and provide them with excellent customer service. A leasing agent should be able to communicate effectively with residents before, during, and after their move-in process, answering their questions, addressing their concerns, resolving their issues, and ensuring their satisfaction. A leasing agent should also be able to build rapport and trust with residents by being friendly, professional, courteous, and respectful. A leasing agent should also be able to retain residents by offering them renewal options, upgrades, or referrals offers, and by creating a sense of community and belonging among residents.
A leasing agent can enhance their customer service skills by being responsive and proactive, listening actively and empathetically, following up and following through, and taking online courses to learn vital interpersonal communication techniques.
A great leasing agent is someone who has a solid real estate knowledge, strong sales skills, and excellent customer service skills. These skills can help a leasing agent attract and retain residents, negotiate favorable lease terms, and provide superior customer service. A leasing agent can also improve these skills by taking advantage of reputable sources, such as Grace Hill and Sales, Inc., that offer industry-specific training and development solutions for multifamily professionals.