It is no longer just about what you say & how you say it, the Property Management Client of 2019 also needs to see the clear benefit of each of the outcomes we offer.
Whether you are negotiating a bond release between tenant and owner, closing the deal to sign a new management or negotiating a price adjustment to avoid further vacancy, the key to achieving an outcome of value to the client (investor), the customer (tenant), the business and you as the industry professional, is all about your use of “benefit” focused dialogue.
Let’s discuss the price adjustment scenario.
Outcome Sought: Reduction in Price
Effective language: Adjustment in Pricing Strategy (Avoid word such as reduce, drop etc)
Benefit Based Dialogue : “Based on the current level of market competition, the feedback of the X number of inspections undertaken so far and the available date of the property, should we not have a suitable application by close of business today, I will be adjusting the price to $xxx per week – in order to ensure minimal vacancy and to allow us to attract a higher volume of quality tenants. Am I safe to assume you too would like to achieve minimal vacancy and a quality tenant?”
Note: The reason for the adjustment is market based – it is a result of volume, and tenant feedback – not your individual opinion. The aim is always to focus on facts and feedback, not personal opinion. Additionally, the final closing question as been used in such a way, that the only logical answer is yes.
At this point, it is time to close the conversation, and confirm firm agreement to your request – “Great, I will make the necessary changes, and be in touch Thursday with feedback from our next Open home!”
If you would like to take your own dialogue to the next level, why not join our Virtual Class.
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