How to Measure and Improve Leasing Agent Performance

Learn how you can improve your agents’ performance by focusing on calls.
January 22, 2018
People

Leasing Agent Performance

To Improve Performance, Focus on Phone Calls

Leasing agents are the first contact with prospective renters, so it is crucial that they make sure that first impression is a good one. They are responsible for creating and maintaining successful relationships with future residents. With any profession, if you possess certain skills, you’ll stand out and excel. Not surprisingly, leasing agents are no different. Often, the success of their close rate hangs in the balances of just one thing: phone calls.

Phone call leads are single handedly the most qualified of apartment-hunters. Why? Before a prospect decides to call, they almost always begin their search online. Research shows that four out of five renters use online resources to assist in their home search. So, when a prospect decides to call, they are highly motivated and are more likely to sign a lease.

At LeaseHawk, our data shows that 60% of calls to properties are pricing and availability inquiries. It’s vital that leasing agents possess the skills to handle these important leads and agent performance be measured accordingly.

How to Measure Agent Performance on Calls

Call tracking is key to getting started. Even if you have just one call tracking number connected to your phone system, you’ll be on the right path to measuring leasing agent call skills. Call tracking unlocks the ability for you to:

  • Record first-time prospect calls—and more importantly, the ability to listen to these recordings.
  • Gain visibility into the employee’s name and site of who handled the call, so you can quantify who is handling the most (or least) number of calls, choose to listen to their specific call recordings, and more.
  • Capture the call time duration. This is a great KPI to track as short calls with qualified prospects are typically a red flag.  
  • Track the ad source that generated the call. This is only available if you have multiple call tracking numbers for each of your sources. It’s an extremely valuable KPI to track for not just agent performance, but for optimizing your marketing budget too. Take it one step deeper with lead analysis to automatically differentiate prospects from general call volume.

With call tracking in place, the next step is to start analyzing.

To save you countless hours of having to listen and analyze recorded calls—we suggest you work with a trusted vendor to take care of that for you. Plus, it ensures all measurements of success are free from bias and scored on a consistent cadence.

At LeaseHawk, we have recorded and analyzed the performance of over 56,000 leasing agents on over 6 million phone first-time prospect calls. We are the longest-running trusted vendor for measuring leasing agent call performance. Our quantitative approach to scoring calls is the most data-rich and accurate way to gain a holistic view of your employees’ performance.

Categories We Use to Measure Performance

When you use LeaseHawk to measure your agent performance, you’re hiring an entire team of analysts dedicated to helping your leasing team succeed. We listen to your first-time prospect calls and score them using a survey of best practices.

The survey is a powerful tool and roadmap for training agents on how to properly handle prospects. It was created by industry professionals in the ownership, management, and operation of apartment communities—and is completely customizable. Call scores are based out of 100 points and are dependent upon how employees interact with prospects within several critical categories, including:

  • Introduction and Lead Information
  • Pricing
  • Qualifying Questions
  • Amenities & Benefits
  • Closing
  • Overall Impression

Analysts also measure if the agent was able to convert the prospect to an appointment.

Using Scores to Improve and Recognize Superstars

With call scores available fast—typically 24 hours or less—you can quickly see where an agent may be falling short. This allows you to identify the exact type of training that may needed going forward for that individual or site.

In addition to training opportunities, scores can be used to recognize your superstars. For example, property management company Village Green uses their scores for quarterly email shoutouts, “Top Hawk” awards at their annual convention, and even require top scores as a prerequisite for promotion. Brandon Kowalewski, Sales Trainer for Village Green says, “You can always tell when an on-site team makes their call performance a priority. Their appointment conversion rates skyrocket, and their closing percentages almost always improve.”

Scores provide insight into performance trends across an entire portfolio or site. You can compare your team's performance against the industry average with the Industry Report Card, published quarterly by LeaseHawk. Make it a goal for your properties to consistently outperform the industry average!

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Measuring Your Leasing Agent Performance with LeaseHawk

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