Category Archives for Real Estate Investing – Starting out

Memory Points Sell! Dave Lindahl

Memory Points Sell!

Dave Lindahl who’ll join us July, 26, 2016!

Memory points can help sell a customer (renter or buyer) on your multi-family property. Sometimes even something small can make your property stand out from the rest. That something small is a memory point. And a memory point is what sticks in potential customers’ minds making them much less likely to forget you and your property.

Anything you can do to increase a potential customer’s favorable impressions of your property brings you that much closer to completing a deal. You can even begin before you show the property. For example, you can set up a model unit for showing  that is home to a unique color scheme. This is likely very unforgettable.

Or, you can give potential residents of a larger multi-unit a memory point of the property’s clubhouse as an inviting community space. One way to do this is by creating the image of a front porch. There are few methods to use to achieve this. You can put out welcome mat; you can put in banisters; or you can create a path through the grassy area to get to the new porch. These are all inexpensive options.

It is a very good idea to get your potential customer interested in your property from the moment he or she enters the leasing office. If customers have to wait for any length of time, give them something to do that provides them with memory points of the property. One idea is to let them view video of the property. This is unique and the experience will stick with them.

You definitely do not want a negative memory point. If you see unhappy residents, keep them out of sight with a rolling display. On this display, you would have floor plans and the site plan. Roll your display away from the unhappy residents and into a friendlier environment.

Another great way to create memory points is to place words in various locations around the apartment or condo unit. These words should be suggestive of pleasant feelings or ideas. Wall decals/stencils are now widely available, or you could make your own cut-outs of words such as “ENJOY” or “HOME” in the dining and/or living rooms. Then, have your agent use the same word in a sentence or two to subtly bring the message home. For example, “You will enjoy meals in your dining room.” Or, “This room feels like home for me.”

As your customer leaves, give him or her something to remember you… A brochure of the floor plan with a written message from you is a great memory point. Also, follow up on the visit with a phone, email or text message to jar the customer’s memory of the unit.

Another nice idea is to create a special greeting to send prospective residents. This could be in the form of an email. And, it could (and should!) include streaming video of the property.

Do whatever you can to make your property stand out from the rest. Create memory points—big or small—that make a lasting impression. This all adds to your investing success!