MISS MANAGEMENT
CAROL LEVEY | LEVEY ENTERPRISES
The Pros and Cons of "First to Show Gets the Dough"
I’m a leasing agent for almost a year now. I’m a good closer but I’m getting stiffed and here’s why – we have a stupid rule. First to show
gets the dough. What I want to know is am I going to run into this limitation to my leasing bonuses at other properties or companies. Is
this an industry thing? I’d like to understand the pros and cons of this system.
In my experience with all kinds of onsite
teams regionally and across the nation I have
encountered several methods being employed.
Though the method you are experiencing is a
popular one there are certainly variations. For
instance, some teams stipulate that the bonus
goes to the one that physically tours the property
or the one to get the application. Usually these
methods require that the application to be
processed is complete and accompanied by
money. Some go further to define “complete”.
Other teams choose to pool and split leasing
bonuses. As you can imagine there are pros and
cons to any devised method to recognize
individuals while maintaining leasing as a team
activity. Some companies have gone so far as to
converting community leasing specialists to full
commission; at least on new lease-ups, especially
during construction or property repositioning.
Other companies have decided to eliminate
leasing bonuses entirely and/or have implement-
ed other measurements to use for individual and/
or team bonusing. There are also severe swings in
market conditions that govern. For instance, in a
market of many high-price alternatives our
potential leasing customers are going to
investigate more properties looking for the “best
bang for their buck.” It stands to reason that
such a customer will also re-visit each property
of interest more times and might purposely
inquire with different members of the team to
learn something else.
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If you believe that the policy that governs
your leasing bonuses is not fair to you and/or you
think you have a better idea then speak to your
supervisor. Remain op en minded to existing
policies and willing to see if there are examples
that are to your advantage. What I believe you
will find is that whatever the policies are it
requires strong leadership to hold everyone to
the same set of standards over a sufficient period.
Performance standards must be maintained
through written policies that should be under-
stood by the entire team. If policies are managed
consistently over time the benefits will normally
favor longer-term members of the team. This
should mean that someone getting the short
straw this time will likely benefit next time.
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