1,757 Redefining the Comp Shop - Part 1

Today, we are discussing comp shops in the multifamily property management space. You might be wondering, what exactly is a comp shop? Simply put, it's when your team visits competing apartment communities to understand why prospects might choose them over you. Whether these competitors are next door, down the road, or aspirational, they are anyone you might lose a lease to. In today's market, comp shopping goes beyond just visiting these properties. It's about immersing your sales team in the entire neighborhood experience. Give them gift cards and send them to local spots like the taqueria across the street or the dry cleaner down the block. This firsthand experience of the community allows them to sell your property with authentic knowledge and passion. Investing in this type of education might cost you upfront, but the returns are immense. Your team will be better equipped to sell the entire living experience, making your property more desirable. If you found this insight valuable, please like this video and subscribe to our channel for more tips on multifamily property management and PropTech innovations! #Multifamily #PropertyManagement #CompShops #PropTech #RealEstate #CommunityExperience #LeasingTips #NeighborhoodInsights#mikebrewer #multifamilycollective #multifamilymentoring #multifamilycoaching #multifamilypodcast #leadership #OpenAi #multifamilymedianetwork