Breaking the Slump: How a professional recovers from poor production numbers!
Good News! This past week I was speaking with my leasing manager. We have been off with our production. I asked him my series of questions from my previous article, “How to Recover When Your Numbers Are Off!” We came up with the answers. One of the issues is that one of our agents that typically produced better results, was having an off month. The leasing manager ask me, “What can our agent do to get out of the leasing slump?”
It is easy to get off course and run into a leasing slump! When you’re not meeting your own goals and expectations there are a number of things you can do. The following three things are the top three tools pro’s use to recover.
1. Motivational Mornings Utilize Affirmations – I am not a believer that affirmations have magic power. There is some scientific proof within the study of the use of affirmations. “Positive affirming sentences are a constructive command to your subconscious mind; they elevate your mood, and, in addition, form wonderful beliefs about your character” (Āzmandiyān, 2010). I believe that you should start your day in a great mood. You should find a way to start positive. Even if you have a bad day, if you start well it ends up being not that bad. If your day starts bad and ends bad you will never pull yourself out. Start your day with a positive affirmation.
2. Focus on Referrals and Quick Follow-up – Look the highest conversion of leads come from referrals and quick follow up. In the Journal of Marketing,a recent article entitled, Sales Lead Black Hole, the authors state, “Sales reps' follow-up of leads (both marketing and self-generated) is a crucial part of the customer acquisition process” (Sabnis, Chatterjee, Grewal, & Lilien, 2013). They explain that 70% of the leads generated by marketing are never followed up on. Agents that are in the production black hole need to follow up on leads quickly. Jeffery Gitomer, suggests that, “One should earn and generate because it is of much higher percentage and is more respected in its approach to build relationship with prospects” (Gitomer, 2009). If referrals are generated and followed up on quickly you have put yourself in the highest percentages of likeliness to close the lease.
3. Increase Daily Outbound Calls Numbers- Good old hard work! Nothing is a substitute for activity. Most leasing slumps start when the agents mind is busier than their fingers. “If a [agent] knew that for every 20 people they contacted they would eventually make one sale and that one sale would generate a certain commission, then that [agent] would religiously follow their sales process” (Huffaker, 2010).
As you can see, you can recover. There are probably 30 ideas that have entered your mind. I would recommend that you save this article for when you are having a bad day, week, or month. Not everyone can turn it around but I have found the above help.
Āzmandiyān, ʻ. R. (2010). . New York: McGraw-Hill.
Sabnis, G., Chatterjee, S. C., Grewal, R., & Lilien, G. L. (2013). The Sales Lead Black Hole: On Sales Reps' Follow-Up of Marketing Leads. Journal Of Marketing,77(1), 52-67.
Gitomer, J. (2009). Top tins: skin cold calls, ask for the sale. Business Journal Serving Fresno & The Central San Joaquin Valley, (324023), 15.
Huffaker, T. (2010). Twenty questions every sales manager should consider regarding their salespeople. Enterprise/Salt Lake City, 40(7), 9-10.
Nathan Bush is a highly sought after speaker, writer, author and real estate investment professional. One of the most inspirational and motivational men of his time. He delivers a high impact, educational performance that has improved businesses bottom line. With over 10 years of experience in the real estate industry and asset management industry, his systems have generated millions of dollars in bottom line profits for thousands of sales professionals, leasing agents, property managers, & investors.
Nathan is the Founder and President of Priority Investing, LLC. a National Consulting Practice impacting and changing lives across the United States. Nathan holds an MBA with an emphasis in accounting from Keller Graduate School of Management and a B.A in Nonprofit Management from Lindenwood University. In addition to his degrees, he holds a Missouri real estate license and a National Apartment Leasing Professional (NALP) certification. He is currently a member of SCORE which is a nonprofit organization that serves to mentor start-up and growing businesses. Lastly, Nathan wrote the book and has been a guest speaker and facilitator at national conferences on the topics of leadership.