112 - Why We've Been Teaching Value All Wrong

Ronald Harrington https://www.linkedin.com/in/ronaldharrington/ and Stephanie Oehler https://www.linkedin.com/in/stephanie-o-0295924/ explore the true meaning of value in leasing and sales, emphasizing the importance of connection over concessions. They discuss how to train leasing teams to create genuine value and build trust with prospects, moving beyond transactional tactics.In this episode:The true meaning of value in leasing and salesHow to train leasing teams to create real valueThe impact of concessions and discounts on perceived value - the McDonald's versionBuilding trust and connection with prospectsThe role of emotional storytelling in salesThe influence of AI on leasing workflowsStrategies to shift from transactional to relational salesThe importance of understanding prospect prioritiesChapters00:00 Introduction and guest introduction01:29 The concept of value in leasing and sales02:23 McDonald's value meal analogy and its limitations03:13 Redefining value as higher than the asking price05:29 Selling the value of the neighborhood06:53 Location as the primary search factor07:22 Creating value based on prospect priorities08:39 Impact of transparency and full information10:09 The connection and emotional value in leasing11:47 Using points and travel as an example of value13:14 Relationship vs. transactional sales14:23 Concessions and shrinkflation in leasing15:50 The challenge of rising concessions and renewal shock19:07 The role of AI in leasing workflows21:27 The importance of closing out leads effectively22:34 Training teams to create value higher than the asking price23:28 The impact of industry expectations on discounts24:23 The dangers of slashing prices and trust erosion25:09 Using math to demonstrate true value to prospects27:44 Moving from transactional to relational sales28:12 The importance of perceived value over price29:20 AI's role in supporting human interaction32:33 Effective lead management and closing strategies33:39 Stephanie's leasing superpower: energy and enthusiasm35:53 Contact information for Stephanie Oehler🔔 Click subscribe to @MultifamilyMediaNetwork on YouTube and stay up to date on our growing lineup of multifamily industry leaders and must-hear conversations! 📰 Sign up at https://www.multifamilymedianetwork.com/ to receive our newsletter and explore our library of podcasts and blogs from today’s multifamily experts!