Thursday, December 31, 2009

Make a SMART New Years Resolution

As the new year is now just hours away, I thought I would share this interesting article about how to actually keep your New Year's Resolution. This article from SuburbenChicagoNews gives some great advice from Craig Harling, the director of behavioral health and licensed clinical professional counselor at Provena Saint Joseph Hospital.

"In the field of psychology, Harling said they developed an acronym for making achievable goals. They refer to them as SMART goals. SMART stands for Specific, Measurable, Achievable, Relevant, and Timely."

You can read the whole article here. It's a great read because it makes since. Too often we set ourselves up for failure when it comes to New Years resolutions. It is a bad habit to get into, and one that lends itself to future failed attempts at change.

On the flip side, achieving your goals is a great habit to get into. But it has to start with the dynamics of the goal itself. Is it Smart, Measurable, Achievable, Relevent, and Timely?

Happy New Year. See you next decade!

Wednesday, December 30, 2009

Flip Your Vacant Apartments

Recently, at the annual CLASS Holiday Party, our Leasing Specialists were given Flip Videos.



Not only are the Flips fun, but they can be a very useful tool in the apartment industry. Kate Good writes about it here on her blog.

Imagine how much fun prospects will have playing with the Flip while they tour the property. Not only that, but I bet close to 100% of the prospects will open the email you send them in order to view the video they made of their new home. Compare that to how effectively your current follow-up methods are working and you will see that this is an amazing new tool!

Have fun...

Tuesday, December 29, 2009

Get a Better Twitter Background

I just came across www.twitterbackgrounds.com

This is a great site to change your twitter background in order to make it look more customized. When using Twitter, it is important to look like you are a credible source of information, and that you know what your doing. By having a better looking background, you encourage more people to follow you.

Check it out today, and replace those standard backgrounds with something with a little bit of "pop" to it.

Monday, December 28, 2009

The power of Social Proof


Social Proof is defined as a psychological phenomenon that occurs in ambiguous social situations when people are unable to determine the appropriate mode of behavior. Making the assumption that surrounding people possess more knowledge about the situation, they will deem the behavior of others as appropriate or better informed. (Thanks Wikipedia)

In other words, this is why it is so important to monitor your apartment ratings and keep tabs on what is being posted on the Internet about your community.

When people are unfamiliar with a product, they trust the opinion of others who have tried that product much more then conventional advertising.

I came across an interesting article about it here.

This is a good Monday AM read.

The best example I have heard about Social Proof is a story about a master violinist who typically played infront of thousands of people in gorgeous venus for hundreds of dollars a ticket. One day, as an experiment, they had the violinist start playing in the subway in New York. The result was that no one even stopped to hear him play. They would have paid good money to hear him play at Carnegie Hall, but without the social proof, the music meant nothing.

Social Proof is a very intersting phenomenon to keep in mind when selling and marketing our apartments.

Tuesday, December 22, 2009

What not to Tweet about


I feel like I need to take a moment and talk about the way some Apartment Communities are using Twitter. As people rush to jump on the social media bandwagon, many have done so without giving any thought to how they will utilize these new tools. The most often misused Social Media toy is The Apartment Community Twitter Page.

When I look at these Twitter Pages, I notice that many apartment communities have about >30 followers, most being vendors and residents. The Tweets seem to always be about specials that are going on, or links to the apartment website, or something that just says "Check out XYZ apartments, Great Specials!"

In order to make Twitter work at your property, you must provide better content. Content that will allow you to build your following, to appeal to your residents, vendors, and prospective renters.

Take a look at the people following you on Twitter. Will they care that you are having an amazing special this Saturday? Probably not.

Let's give them some information they can actually use. If you are providing a steady drip of information about movies you've seen, good restaurants in the area, happy hour specials, places to board your dog, funny blogs, discount shopping, when the pool will open, remember to let your pipes drip tonight etc., people will appreciate the information

What is the difference between your Apartments Twitter account and someone who has 1000 people following? The answer is CONTENT. Give people some info they can use and they will reward you by following you. Twitter can be a marketer's dream if used the right way. It's free and you can reach thousands of people. But, it starts with better content.

Friday, December 18, 2009

Our opinion doesn't matter!


“Marketers of successful ideas rarely market the facts. Instead, they market stories that match the worldview of the people being marketed to.”

This is a quote from Seth Godin’s Blog. I love it because it seems that every now and then we need to be reminded that we are not promoting a product to ourselves. Too many times we come across marketing ideas and say “No, I don’t like that.”

Well, the truth is it doesn’t matter if we like something or not, what matters is if our target market likes it. This concept is especially hard for apartment owners and managers to grasp because, in most cases, they are part of a drastically different demographic then their prospective and current residents.

Instead of saying “No, I don’t like that, we need to say “Will our target market like that?” Seems like marketing 101, yet this is a concept that it often forgotten.

Every time I see a commercial on TV that I do not like I remind myself that the person who concepted and created the ad probably doesn’t care if I like it or not. I am most likely not the demographic they are aiming for and, therefore, my opinion shouldn’t matter to them.

So, how do we apply this concept to our apartment communities? Maybe the answer lies in knowing our residents better? I am just throwing this idea out there, but what about getting some of our residents to fill out a survey so we can get to know their habits? How about having a free coffee and breakfast day in the office and when they come in to get their grub, we have them fill out a quick survey? Let’s find out where our residents shop, eat, and go to grab a drink. Let’s find out what their favorite radio station is, TV show, website, blog. Let’s find out what time they go to work, and whether they drive or take the bus.

If the secret to effective marketing lies in appealing to our target market, the first step is to understand our target market. Don’t ever forget that “our opinion” doesn’t matter. What matters is the opinion of our customers.

Thursday, December 17, 2009

Best and Worst Marketing Ideas

This is a fun read about the best and worst marketing ideas ever. I agree with everything on here except for the Quiznos Subs Rats. Those guys were hilarious.

Wednesday, December 16, 2009

Movies meet social media

Back in 1998, America was just beginning to get the hang of this whole "Internet thing." Chat rooms were all the rage, and everybody was very familiar with the term "You've Got Mail". Who can forget the sound of your computer dialing up and connecting to the Internet?

Well it didn't take long for Hollywood to jump on the bandwagon and craft a movie around this new phenomenon. So in early 1999, Tom Hanks and Meg Ryan starred in "You've Got Mail" and 125,000,000.00 million dollars later, we see the marketing gold of such a movie.
The funny thing is that today, anyone under the age of 18 probably isn't familiar with the term "You've Got Mail". It is as extinct at rotary phones and 8 tracks.

In a few weeks Hollywood is giving the same marketing concept another shot in the Romantic Comedy "It's Complicated" starring Alec Baldwin and Meryl Streep. For anyone at all familiar with Facebook, you will recognize the "It's Complicated" phrase from the popular way to describe one's relationship status on the social networking site.


The interesting thing about such a movie is that it revolves around the complicated relationship of a Babyboomer couple. The studio is attempting to create this decade's "You've Got Mail" by using a title that is familiar in today's society.

There has been much debate about whether or not the Social Networking Craze will reach demographics other than Generation Y. Like 1999's "You've Got Mail",
2009's "It's Complicated" is validation for the power of Facebook and social networking in general. Social Networking is not just a Gen Y tool anymore. If Facebook carries enough weight to greenlight a huge studio picture, it is safe to say that people of all ages are on board. Let's face it, who's mother doesn't love Meryl Streep?

It also makes us realize how drastically different the communication world will look in 2019. What will be the movie that defines the next decade's social tool of choice? Your guess is as good as mine.

Monday, December 14, 2009

Using Twitter at Your Property.

Today, everybody is talking about Twitter and Facebook and how social media marketing can be used to spread the word about your property or small business. The problem is that getting these new tools set up and running can be a very daunting task.
The secret to getting Twitter up and running at your property is actually easier then it seems. Follow these steps and, within a month, you will start to see the advantages of using Twitter

Step 1.
Create a property Twitter Account. Use the name of the property and post a picture as well as contact information.

Step 2.
Create a flyer that directs residents and prospects to the Twitter site. Remember that not everybody understands how to use Twitter. Include the twitter.com link and instructions on how to create a profile and follow someone.

Step 3.
Market your Twitter page to local vendors. Tell local salons, gyms, vets, bars, restaurants, tanning salons, etc. that you will be updating the Twitter page daily to include their specials and promotions. Use this outreach as a spring board to establish a working relationship with local vendors.

Step 4.
Update the Twitter twice/day. Below are examples of Tweets you can use:

-1/2 off a large pizza at Tony's across the street for all Hallmark Residents!
-Molly O'shea's has great happy hour specials every day from 5-7
-Mention that you live at Hallmark and get a free month of Tanning at South Beach Tan
-Don't forget Rent is due on the 3rd
-Water in building 3 will be turned off from 12-1 on Saturday afternoon
-Free coffee and fruit for residents in the office
-Tina's Boutique has some great clothes on sale
-Happy Birthday to Tom, our maintenance superstar!

Having a Twitter page can do many things for your property. It can inform residents of things going on in the community. It can educate residents about local sales and specials. It can help begin great cross marketing relationships with local vendors. It can help the office stay connected with the residents on a more personal level. But the best part of all....It's FREE!

Give it a try for 30 days, it's worth a shot!


Wednesday, December 9, 2009

the holiday spirit

Peter stopped by to get you in the Holiday Spirit...errr... sort of.....

Tuesday, December 1, 2009

Pounding the Pavement

The Internet has given us many new wonderful things such as YouTube, Twitter, Facebook, and Dateline's To Catch a Predator

The problem with the Internet is that it has made the apartment industry become lazy. A decade ago, marketing was done by getting out and networking with local businesses, putting out fliers, and chatting with residents. Now, the industry has become completely reliant on the Internet for any and all marketing. Not that the Internet is not a great way to market your property... but we must remember that it is not the only way.

Before the Internet, grassroots "pound the pavement" marketing was a quick, cheap, and effective way of driving traffic into the door, and it still is today. Don't let the Internet make you lazy. Don't forget that networking and connecting with locals is still an effective way to create traffic. You can and should use the Internet, but don't put all of your eggs in one basket.

Wednesday, November 25, 2009

Georgia Techies Dating.....

For those of you not affiliated with either the University of Georgia or the Georgia Institute of Technology, this Saturday's football game between the two bitter rivals is commonly known as "Good Old Fashion Hate."

In the spirit of such things, I bring you this gem. The Georgia Tech Class of 76' Where are they now video......



"Type A I'm not, comfortable, caring, and concerned about a relationship... I am"

Tuesday, November 24, 2009

Don't ignore Apartmentratings.com

With every passing day, the internet becomes a larger decision making tool for today's consumer. One of the most widely used decision making tools is a consumer testimonial. In the apartment industry these testimonials are most commonly found on the site Apartmentratings.com

The well documented problem with this site is that it can quickly become a vehicle for upset residents to vent about their problems. While some issues posted on this site are accurate and honest, many are the result of the resident being evicted, or fined for breaking the rules of their lease. While these posts seem quite obvious to anyone in the industry, prospective residents who use this site to decide which communities to call home, may not be able to differentiate between honest feedback and eviction rage.

Jeffrey Lee, from NAAHQ.com has his take on it here. "When renter Candice Chung was deciding between two apartments in Arlington, Va., she turned to past residents at both communities to help her make her choice. On the Web site ApartmentRatings.com, she found a network of renters from both communities sharing compliments and complaints about their experiences. One community had 100 percent positive ratings, with commenters mentioning specific things they liked about the community, such as its friendly management. The other, a commenter alleged, had rats.
“After that, I was really adamant about getting the apartment with high ratings,” Chung says. “I liked that the management left responses to the comments, like ‘Thank you for your comment.’ ” The responses reassured her that management was responsive, she says. As to the rats: “How would I ever have known that otherwise?” she asks."



The question on everyone's mind is how do we manage our property's online reputation? It is silly to ignore and just assume that prospective residents won't react to our prior residents beef with management. Studies show that not only do consumers take notice, they are using this information to make a decision.

The answer is to be proactive with ApartmentRatings.com The first way to be proactive is to have a the manager pay the fee and provide feedback to all post (both positive and negative). When someone sees that management is taking an active roll in addressing issues at an apartment, it shows that the manager cares about the community.

The second way to combat this problem is to have happy residents post good things about the community. Anytime a happy resident comes into the office, we should have Apartmentratings.com pulled up and ready for posting. We should then invite the resident to share his or her experiences on the site. Just asking someone to post later does not insure that it gets done. We must already have the site pulled up, and then we must ask them to take 2 minutes to write a brief testimonial while we make them a cup of coffee or get them a refreshment.

These two easy steps can do wonders for your property's online reputation. If we can surround the negative comments, by many positive comments, it shows the prospect that the negative comment was left by a disgruntled tenant who may have been facing fines or eviction due to their inability to follow the rules of their lease. Which as we all know, is typically the case. The bottom line is this, don't ignore your property's Apartmentratings. While the real reasons for most negative postings are very apparent to us, the prospect takes them to heart.

Friday, November 20, 2009

RIP UGA VII



The University of Georgia's beloved mascot Uga died yesterday of a heart attack.
RIP Uga VII.

Friday, November 13, 2009

Marketing to parents on a college property



Surfing the blogosphere today I came across an interesting story on NAA's blog. It is titled College Enrollment Is Up, But Is Student Housing?

The post talks about the countercylical nature of community colleges during a down economy. Basically, 4 year institutions have seen a plateau, or enrollment stagnation, while commuter schools and community colleges have seen a drastic increase in enrollment. The reason is that many people view the slow job market as a time to further education.

The problem this poses for the Multifamily Housing Industry is that the majority of community college students live at home with Mom and Dad. That is almost 3.5 million students who are living at home.

Maybe the secret is to market to the parents. I'm sure that Mom and Dad dream of those empty nest days, and they would love to get their kids out of the house. Rather then flyering the local community college, how about sending a direct mailer to the student's home and have it addressed to their parents? Have the post card talk about how economical by-the-bed leasing can be, and how for just 400$/month they can get their kids out of the house.

Thursday, November 12, 2009


This is a great post from Copyblogger titled What My Five-Year-Old Taught Me About Marketing.
This is a great read as it really dives into the underlying meaning of some of today's advertising.
Here is a section of the post that really grabbed my attention

Most advertising is based around associative conditioning, which is taking something that you already like and pairing it with something that they want you to like. Or with someone you already like, in the form of a celebrity endorsement.
You may be standing up and denying angrily that you don't fall for any of those things, but billions of advertiser dollars say either that you’re quite unique or that you’re mistaken. Maybe you don’t come out and say, “Ooh, Tiger Woods. I want that!” but it happens anyway — deep down, at the inner child level.

Everytime I look at a property website and I don't see people in the pictures I wonder why the Multifamily Industry doesn't believe in associative conditioning. The best marketing minds in the world subscribe to this way of thinking. I would bet my bottom dollar that they are right.

Instead of just showing a playground, why not show kids playing on the swings? Instead of just showing the pool, why not show some beautiful people enjoying it on a nice summer day? Instead of just showing the model, why not show a happy family cooking dinner together with the family dog smiling in the background?

Our marketing material should not just show the amenities, but how the amenities are going to ad value to your life. If Fortune 500 companies spend millions of dollars a year advertising this way, I think it's a concept worth considering.

Monday, November 9, 2009

My new favorite site

If your like me, you have certain sites or blogs you visit everyday in addition to checking your facebook and email. Here is another to ad to the mix. It's just a little tidbit of useless information that could act as a great conversation starter.

I give you Learn Something New Everyday!

Friday, November 6, 2009

A letter to the Leasing Specialist

Let’s do everything the right way this weekend. Let’s get to work 20 minutes early tomorrow morning. Let’s walk the tour route and make sure no one partied too hard last night and left trash in the bushes. Let’s make sure there are no spider webs in the breeze way in front of the model. Let’s make sure that all the lights are on and that the model looks, smells, and sounds like a place you would want to call home.

Let's get our balloons out early, and let's make them BIG. Let's spend 5 extra minutes and make a balloon bouquet so big that when kids drive by they are going to beg their mothers to stop because they think the guy from Pixar’s UP works there.



Let’s answer the phone on the first ring and have the biggest, goofiest, friendliest smile on our face. Let’s tell the prospect that we are “SO HAPPY THEY CALLED! because they JUST FOUND THEIR NEW HOME!!!!!!”

Let’s fill out our guest card completely. Let’s ask the extra questions like “what did you type into Google?” Let’s find out why our prospect is moving?, where do they work?, what are their hobbies?, and what is important to them?

Let's research their business online and know what they do for a living. Let’s have some treats ready for their kids and swing by the play ground so they can “test out the slide”.



Let’s remember to sell the features, not the special. Sell the value, not the concession. Sell the lifestyle, not the reduced rent.

Let’s look them in the eye and tell them it’s ok to smile because they are finally home!

Let’s track our traffic right after they leave the office. Let’s write a thank-you note while the prospect is fresh in our mind.

Let's visit the restaurant across the street and drop off some flyers and tell the manager that you will spread the word about their happy hour special.

Let's flyer 100 cars and refresh Craigslist 3 times. And let’s think outside the box when we post the ads and put something up that will catch everyone’s eyes.

Let’s tell the staff how much we love working with them and how vital they are to our success.

Let’s thank the maintenance crew for getting our units ready.

Let’s have a great weekend!

Thursday, November 5, 2009

A new comp...


Since the housing bubble burst, the Multifamily Housing industry has had to deal with a new competitor: The rental home.
While renting a home has always been an alternative to renting an apartment for many prospective tenants, the economic downturn coupled with the depreciation of home values has led to many IRO's(Independent Real-Estate Owners) leasing their homes at well below market rates.
This well documented trend has taken an even newer twist. Fannie Mae just announced that they will now rent foreclosed homes to the borrowers in order to allow the family to stay in their own home.
Fannie will benefit because they can sit on the asset as opposed to re-releasing it into an already saturated market. The former home owner can benefit because they do not have to incur a moving cost while money is tight.
What does it all means for the Multifamily Industry? We have a new competitor in Fannie Mae.
Many apartment owners have been hedging on the Foreclosure market to drive a whole new demographic of renter in the door. This will be something interesting to keep an eye on.

You can see the whole article here

Tuesday, November 3, 2009

For the heck of it.

I was just sent this via email. Thought I would share
Who said history isn't fun


The next time you are washing your hands and complain because the water temperature isn't just how you like it, think about how things used to be. Here are some facts about the 1500s: Most people got married in June because they took their yearly bath in May, and they still smelled pretty good by June. However, since they were starting to smell brides carried a bouquet of flowers to hide the body odor. Hence the custom today of carrying a bouquet when getting married.

Baths consisted of a big tub filled with hot water. The man of the house had the privilege of the nice clean water, then all the other sons and men, then the women and finally the children. Last of all the babies. By then the water was so dirty you could actually lose someone in it. Hence the saying, "Don't throw the baby out with the Bath water!"

Houses had thatched roofs-thick straw-piled high, with no wood underneath. It was the only place for animals to get warm, so all the cats and other small animals (mice, bugs) lived in the roof. When it rained it became slippery and sometimes the animals would slip and fall off the roof. Hence the saying "It's raining cats and dogs."

There was nothing to stop things from falling into the house. This posed a real problem in the bedroom where bugs and other droppings could mess up your nice clean bed. Hence, a bed with big posts and a sheet hung over the top afforded some protection. That's how canopy beds came into existence.

The floor was dirt. Only the wealthy had something other than dirt. Hence the saying, "Dirt poor." The wealthy had slate floors that would get slippery in the winter when wet, so they spread thresh (straw) on floor to help keep their footing. As the winter wore on, they added more thresh until, when you opened the door, it would all start slipping outside. A piece of wood was placed in the entrance-way. Hence: a thresh hold.

Getting quite an education, aren't you? In those old days, they cooked in the kitchen with a big kettle that always hung over the fire. Every day they lit the fire and added things to the pot. They ate mostly vegetables and did not get much meat. They would eat the stew for dinner, leaving leftovers in the pot to get cold overnight and then start over the next day. Sometimes stew had food in it that had been there for quite a while. Hence the rhyme: Peas porridge hot, peas porridge cold, peas porridge in the pot nine days old.

Sometimes they could obtain pork, which made them feel quite special. When visitors came over, they would hang up their bacon to show off. It was a sign of wealth that a man could, "bring home the bacon." They would cut off a little to share with guests and would all sit around and chew the fat.

Those with money had plates made of pewter. Food with high acid content caused some of the lead to leach onto the food, causing lead poisoning death. This happened most often with tomatoes, so for the next 400 years or so, tomatoes were considered poisonous.

Bread was divided according to status. Workers got the burnt bottom of the loaf, the family got the middle, and guests got the top, or the upper crust.

Lead cups were used to drink ale or whisky. The combination would sometimes knock the imbibers out for a couple of days. Someone walking along the road would take them for dead and prepare them for burial.

They were laid out on the kitchen table for a couple of days and the family would gather around and eat and drink and wait and see if they would wake up. Hence the custom of holding a wake.

England is old and small and the local folks started running out of places to bury people. So they would dig up coffins and would take the bones to a bone-house, and reuse the grave. When reopening these coffins, 1 out of 25 coffins were found to have scratch marks on the inside and they realized they had been burying people alive. So they would tie a string on the wrist of the corpse, lead it through the coffin and up through the ground and tie it to a bell. Someone would have to sit out in the graveyard all night (the graveyard shift.) to listen for the bell; thus, someone could be, saved by the bell or was considered a dead ringer...

And that's the truth...Now, whoever said History was boring!

Monday, November 2, 2009

Resident Retention Part 2

Good afternoon everyone. I truly hope that everyone had a safe and enjoyable Halloween over the weekend. Today I'd like to talk a little bit about resident retention and some ideas that could be implemented to help the success of this vital part of our industry.

Currently, even in our economy, volunteering is up all the way across the board in regards to age groups. People are wanting to give back and are wanting to help others. How about organizing a bi-monthly volunteer activity for those residents that want to participate? This sets you apart from other communities as a place that cares, not only about its residents, but also about the community and environment that surrounds it.

Setting up a "committee" of sorts that your interested residents could join would help. Efforts for community involvement don't need to entirely rest upon your staff. Ask for resident involvement. People want something to do and want to feel like they belong somewhere.

Lets try to think of ideas and ways that can make our residents not see us only as an apartment community but see us as neighborhoods and as home. Because if they feel they belong, if they feel like they're home, then they will continue to stay. And who wouldn't want a community full of residents that want to be involved? Who wouldn't want a community full of residents who have fallen in love with their home?

Friday, October 30, 2009

The Walmart Brand


My wife, Jen, is a graphic designer for The Visualab here in Atlanta.

The other day she dipped into Wal-Mart to pick up a few items on the way home from work and had the following observation. People blindly follow the Walmart Brand Products. to such a degree that they will grab something off the shelf without even checking the price.

It's fascinating when you thing about it. That plain old Great Value Logo has people so brainwashed into thinking it's the cheapest item on the shelf that cost conscious consumers will pick it up without even comparing it to other brands.

If I was designing a new food product label, I would go with the simplest thing possible. Heck, maybe that’s the rout we all should be taking. Shouldn't the consumer dictate how we market our product? Why are we trying to make everything glamorous and fluffy when our target market just wants the bare essentials?

All the statistics show that today’s buyer is cost cutting and looking for the most economical option. That begs the question; maybe we shouldn't be advertising amenities that would lead one to believe that rents are high. Maybe people just want a clean place to call home where they can save some money. It's food for thought and a great topic for another day.

Have a great weekend everybody

Happy Halloween!
-Danny

Thursday, October 29, 2009

Food for Thought

This is from Multifamily Insiders. It's a great little motivational read.

Notably Quotably Great!

Written by Heather Blume
Saturday, 28 March 2009 00:00
Last weekend, Alan bought a book on photography. It's one of his hobbies and he wanted some advanced information on how to get even better at it. He was reading it one morning before work and came across a passage he thought that I would like:

"I have once heard that three human ingredients will combine to produce success in any field of endeavor; Enthusiasm Talent and Hard work. And that a person can be successful with only two of those attributes as long as one of the two is enthusiasm." -The art of Photography; an approach to personal expression by Bruce Barnbaum

It made me think about how I hire people. One of my biggest personal standards is that I strive to set people up for success. I want to find the best people for the right job and give them everything they need to be successful. More than that, I want to do everything in my power to empower them to chase that success. However, I have learned that no matter what I do, I can't give a person inner drive, a friendly personality, a work ethic, and the ability to show up to work on time. Those are things I think you have to get from your parents, and if they failed you, I'm not really sure I can help.

One of the key things I look for when I'm hiring someone is Enthusiasm. Talent is great, but talent without enthusiasm for the job at hand is worthless. Some of my best hires ever were people without any experience, but they had that real *SPARK* to them. You know the one I'm talking about. They were the people who :

Understood that Everyone on site picks up garbage
Don't think that there are any jobs "beneath" them
Make great eye contact
Have an abundance of both enthusiasm and energy
Genuinely WANT the job, not NEED it
Are able to establish a rapport with me right away
Try to connect with me during the interview on more than a professional level
That's just the first few qualities on my *SPARK* list. What's on your list? What triggers your sixth sense in hiring people?

_____________________________________________________

Monday, October 26, 2009

Monday AM Reading

Hi Everyone. I'll get to some more posting this afternoon, but to start off the day I wanted to draw your attention to this article from Forbes. Thanks to Multifamily Insiders for bringing this to my attention!

Friday, October 23, 2009

What can a little sushi restaurant in San Diego teach us about marketing? Take a look at this article from www.openforum.com

This article perfectly illustrates the benefits of social media marketing. In particular its cost effectiveness and ability to reach an audience on a whole new level. The story talks about a small Sushi Restaurant putting in a Tweetwall. While I don't advocate apartment communities adding such a feature to the existing office decor, I love how social media marketing was used to enhance the experience of customers and spread the company's name.

The point is that with social media marketing, we now have a brand new tool box to construct some really outside the box marketing campaigns. The message of the story is simple: Use these new innovations like Twitter to enhance your customers experience and Twitter will spread your brand.

So how do we use this in the apartment industry? Well that's the million dollar question. Let's come up with some ways to make social media marketing work for our properties. I'm looking for some comments on this one....

Have a great weekend
-Danny

Thursday, October 22, 2009

Say Hello to Twellow


Twellow is a new site that calls itself “The Twitter Yellow Pages”



Basically, Twellow is a way to sift through the millions of Twitter accounts and connect with people who are interested in a common topic. When you sign up for Twellow, you create a more in-depth Twitter profile and choose to which topics/categories you would like to attach your profile. Twellow lets you pick 10 categories from a list of about 10,000. The categories range from sports (like mixed martial arts), to roommate searches, to dogs, to industry related topics like media marketing.

I just set up my account a few hours ago and I can already see how Twellow can be very advantageous to anyone with a Twitter account. I can now search the Twitter accounts of people who are interested in apartments, marketing, social media, student housing, and real estate consulting.

Twellow is the kind of tool that makes Twitter relevant to the business world and not just another social networking site like Myspace.

If you Tweet on Twitter, then you might as well Twellow….



www.twellow.com

CNN on Fair Housing

Wednesday, October 21, 2009

Twitter is Here to Stay. Part 1




My wife hates Twitter. My best friend Mike hates Twitter. Our waitress at Ceviche in Roswell hates Twitter. This was the topic of discussion the other night over dinner. While I completely understand the animosity towards Twitter (everyone knows someone who hates twitter) I think the hesitation to jump on the Twitter bandwagon stems from our limited understanding of its many functions.

Here is the thing with Twitter: It is young. The products and ideas it will spawn have yet to be seen. What is clear is that Twitter is one of the main vehicles driving the social media revolution.

So as we enjoyed our food at Ceviche I went about attempting to convince my wife, friend, and our waitress the details of the Twitter revolution. I believe the negative perception of Twitter comes from the fact that people view it as just another Myspace or Facebook fad. What makes Twitter different and in for the long hall is the fact that it is the next wave of text messaging. I think everyone can agree that texting is not going anywhere anytime soon.

Let me put it this way, in a couple of years EVERYONE who texts will be on Twitter. They not only will be on Twitter but they will have multiple Twitter accounts. The average person will have about 3 Twitter accounts. The first will be for work. Some of the advantages of Twitter in the workplace have already been explored. Many people are beginning to see the advantage of sharing industry related information with their peers.

The second Twitter account will be for your friends. I already picture myself watching Monday Night Football and tweeting back and fourth with my friends. This is simply a mass text message that will act as a discussion between my friends and me. How many people get funny emails, jokes, or youtube clips emailed or texted to them by their friends. Twitter will be a way to send such things while sitting on the couch watching the game.

People will also have a 3rd or 4th account to link in their family. Think about it this way, every New Years Eve I get those mass text messages from people saying Happy New Years! Sometimes it’s from people I haven’t spoken to in years (I just happen to be in their phone) Twitter will be a new way to connect families. Birthday announcements, family reunions, updates, pictures, ect…. It will all come through Twitter.

We have not yet even begun to tap into its potential as a networking device. But regardless of whether you hate it or not, it is here to stay.

Twitter meets The Office

This is brought to us from Hubspot.com (thanks marketing gal) http://www.yourmarketinggal.com/social-media-marketing/

Friday, October 16, 2009

The Future of Security at your apartment community

Have you ever heard of Biometrics? Soon you will.
First, how about a definition...
Biometrics refers to methods for uniquely recognizing humans based upon one or more intrinsic physical or behavioral traits. In information technology, in particular, biometrics is used as a form of identity access management and access control.

Now you are probably asking yourself, what does this have to do with the apartment industry. Well very soon, apartment entry will be done solely by Biometrics. Keys will soon be replaced by cameras that scan a persons face and either grants or denies entrance to an apartment, or common areas.

I know this sounds like something out of a science fiction movie, but the reality is that such products do exist. The more amazing thing is that it might just be a cost effective solution for many new projects due to come-online in the next few years. http://www.fst21.com/default.asp

Wednesday, October 14, 2009

Hump-Day: Seperated at Birth??????




Detroit Lions QB Matthew Stafford and Chunk from The Goonies. Twins Seperated at Birth?


Thursday, October 8, 2009

Resident Retention Part 1

I often ask myself, why is resident retention not taken more seriously? Isn't a renewal just as good as a lease?

In some ways, it's even better. For instance, when you calculate in the advertising dollar per lease, the cost per turn, the cost of having an apartment stay vacant for a week, and most importantly, the risk of leasing to a new tenant who may not pay rent on time, isn't a renewal the safer bet? Especially if the renewal is a good resident.

This begs the question, why is more time not spent on Resident Retention? The answer lies in the lack of motivation from the leasing team to focus on the back door. When a leasing team is rewarded per move-in, then the focus is always on creating traffic and closing on it. Very little time, money, and effort is spent on keeping the currant residents happy.

Why not base commission on occupancy rather then move-ins? Give your team a reason to care about the back door as well as the front door. When we look at the cost per renewal vs the cost per lease, you can see that it will even improve your bottom line.

Friday, October 2, 2009

LSU Weekend!!!!!!

Around this time tomorrow, I will be standing on north campus in Athens Georgia celebrating with 90K Georgia fans, and another 25K Yellow and Purple Bourbon Drinking Corn-Dog smelling LSU fans.

I have never been to a soccer game over in Europe, but from what I hear the only American sports contingent that matches the passion and comradery of their fans are the swamp people from Louisianna.

I have an absolute love affair with LSU fans. They are wild, rude, drunk, obnoxious, and just plain fun to spend a fall Saturday with.

But because they are such a "different breed of cat" as my dad always said, below are a few rules about how to talk to an LSU fan.

Rule 1. LSU fans are like bears. You must approach them calmly and without fear. If they sense that you are nervous or wishing them illwill, they will unload a barage of cajun cursing upon you at the drop of the hat.

Rule 2. Ignore the initiall threat. People who have trouble with LSU fans tend to react to the initial taunts they are known to throw your way. Example, when approaching LSU fan, just ignore the Tiger Bait chant and proceed directly to offering to take a shot of bourbon with them. This will put LSU fan at ease and allow the celebration to commence.

Rule 3. LSU fans smell like corndogs, however they do not like to be told so. If you begin to notice the smell of corndogs or funnel cakes, just keep it to yourself. LSU fan is very selfconscious of his odor.

On that note, enjoy yourself this weekend, and as always GOOOOO Dawgs. Sic Em.

Thursday, October 1, 2009

The Double Edged Sword


Yesterday I was at a career fair in Auburn Alabama recruiting floppy haired, bow tie wearing twangy folks to come work for the nation’s largest and most successful leasing firm. After a few hours it started to occur to me that I was getting asked the same question over and over.

The conversations went something like this….

Floppy haired kid: “Isn’t the economy good for the multi-family housing industry?

Danny: “you mean because no one is buying because of the credit crunch?”

Floppy haired kid: “Yeah dude, it’s like, who’s going to buy a house right now if you can’t get a loan. I bet it makes yawls job pretty easy.

Danny: “Well there are other factors to consider, like the effect foreclosure and bankruptcy has on the buying power of the consumer, and particularly on their ability to pay rent.”

Floppy haired kid flips his Bama Bangs and thinks for a second: “Yeah, like my dad totally lost his job last month, so now I have to drink The Beast instead of Makers Mark before Auburn games.”

Danny: Yeah, Something like that.


It is really funny to me how people seem to forget that when someone goes through a foreclosure, their mortgage is the last of their debts to go unpaid. Most people will forgo other payments in an attempt to hold onto their house. This means by the time a foreclosure has occurred, they are in so much debt they will not have the means nor the credit score to rent an apartment.

Thus is the double edged sword of today’s economy. Even an industry that should be thriving off of the reduced credit available for purchasing a home, still suffers the same fate as the electronics store in the strip mall down the street.

That doesn’t even touch on the enhanced risk apartment owners take when trying to restructure their credit criteria for approvals in order to capture the “foreclosure market”

I guess Adam Smith’s invisible hand has slapped even the multifamily housing industry. So get a haircut young fella and come join us in the trenches.

Wednesday, September 30, 2009

Prospect and Residents. Keep Them Separated



Maintenance requests are an everyday part of our business. But it doesn’t need to be the business of our prospects. When a resident comes into the office to place a work order, where are they directed? Hopefully it is not to the same area where prospects are filling out a guest card or an application.

Think about standing in line to order at Wendy’s and a person walks up to complain that there is hair in their food. Not very appetizing is it…

The same thing can happen when we are trying to close on a prospect and a resident comes in to request pest control for their apartment.

Why not keep them separated? It is not hard to have an area of the office where we direct our current resident to discuss work orders and rent questions.

Let’s keep the prospect surrounded by the positives... not the negatives.

Tuesday, September 29, 2009

Concessions,... what is the point?

I shopped a property the other day and when I asked how much the rent was for a 1 bedroom apartment I was told it was on special for $695. I asked the girl what the rent was regularly and she didn't know. Really.....

Concessions have become so common in our industry that our own Leasing Agents don't even know the market value of the product. If the 1 bedroom in question had a market rent of $800, then we can now consider it completely devalued. What is the use of having a special if our sales people don't even know the value of the special?

Isn't that the point of the special, to show the prospect what he or she will be saving? To show the prospect that they can live in an $800/ month apartment for $695....

As far as I know the apartment in question has a $695 value. I am sure the owner would be thrilled to know that in the eyes of the prospect their asset just depreciated by $1,260 per unit annually.

If that’s how we are going to sell a concession then what is the point?


Monday, September 28, 2009

Kicking Things off!

So lets call this Post#1 and get this thing kicked off right. Welcome to TheSolutionToVacancies blog, where multi-family news, ideas, and attempted humor will be the name of the game.

On tap here at TheSolutionToVacancies we will be serving up some marketing ideas, stories of tours gone wrong, industry news, and of course the occasional tribute to The Georgia Bulldogs. you can also follow along on twitter. Twitter name DannySoule.

So to start things up I'll leave you with the totally creepy Mick Jagger. I guess when you sell more then 200 million records it's ok to be this weird.......http://www.youtube.com/watch?v=ed36UQX8kXQ

Happy Monday!!!!!!