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What to Do When You Encounter the Bad Fit Property Management Prospect?

You will undoubtedly find yourself in conversation with a potential prospect, who just isn’t going to be a good fit client for you. Maybe you get an email response indicating the timing isn’t right, or there’s a transition to a new business venture. Keep the conversation open and don’t rule those prospects out altogether.

Today, we’re discussing a few best practices for taking a ‘no’ and keeping your future opportunities open when you encounter those who might not be a good fit right now.

Rejection vs. a Bad Fit

Before you assume the prospect is not going to be a good fit for your services, make sure you’ve uncovered all the objections first – and I mean all of them. Sometimes in sales, a potential client may object with vague or ambiguous reasons, to avoid confrontation or out of fear of rejecting you. However, it is in your best interest to stay persistent before you accept that rejection. To help determine the difference, be sure to ask open-ended questions about each aspect of your services in an attempt to uncover any remaining objections that the prospect might have. Know the difference between rejection and identifying a bad fit prospect. You may be critically missing an opportunity to convert a lead otherwise.

Bad Fit Doesn’t Mean Dead Lead

Even if you encounter a prospect who proves to be a bad fit as a client, you’re not left empty handed with that homeowner. A lead that can’t convert right now, can continue to be a potential source of value for you in providing referrals for example. If you’ve impressed someone with your customer service and sales process, chances are he or she may be eager to help you find others who could benefit – remember, a bad fit now, does not mean a bad fit forever.

Being upfront about asking for help can really boost your dead-leads value to your business. Don’t be afraid to ask for referrals or contacts if they know somebody that could be a good fit for you. Turn the non-client into a networking resource and continue to build on the relationship for future lead generation. It doesn’t hurt either, to stay in contact with those you’ve engaged, should their situation change in the future as well. Maybe in their current career role or position in life, they can’t work with you. However, a job change or opportunity presented can put this contact in a position to be a valuable client for you. Ultimately, using a bad lead to your advantage can provide long term gains – So don’t burn your bridges.

Keep the Emails Flowing

Don’t be afraid to maintain contact with your non-converting prospects via email or email marketing. Be mindful of course, that you’re not sending emails asking for the business or sending sales driven content that won’t apply to them. You can, however, routinely check back monthly, quarterly or seasonally to keep the communication door open and generate top of mind awareness for your business. Should the situation change and the prospect is in a position to revisit your services – you want to still be available in their inbox. Instead of asking business driven questions, check in to see how their process is working for them, send well wishes around the holidays and share any exciting news you might have. Making yourself available periodically can solidify your chances of turning that non-client into a potential client in the future.

In the property management industry, and many others, getting a ‘no’ is typical and even expected. Uncovering potential leads which then turn into the bad fit prospects is also bound to happen. Knowing what do to with leads to keep your sales funnel flowing can help you stay on top of long term potential business. Be sure to keep the lines of communication open and use the bad leads to ask for other contacts and referrals. Relationship building is paramount in our industry. For more ideas and tips on how to maximize your efforts with all of your leads, contact us!

We have killer email templates and tools that might be just what you need to take your property management venture to the next level.

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Disclaimer: Property Management Pros is not intended to be marketed as a Property Management Franchise, but rather a License. Every state has different laws regarding real estate and brokerage laws dealing with Franchises and Licenses.