** Concierge services: what to say to a dissatisfied owner? **
💯Receive the free book by email (the 6 mistakes that make you lose money) by joining my private group on Facebook 💯 https://bit.ly/2KRS5WK
(don't forget to enter your email to receive the bonus)
⚠️ Subscribe to this channel and 🔔 click on the bell 🔔 to stop saying to yourself: “what was the channel that gave good ideas on prices? » https://bit.ly/2OLq0lx
#jannoncecomplet #rentalsseasonal #revenuemanagement #pricing #price #realestate #rentalsaisonniere #airdna #gite #maisondhotes #rentability #eliseripoche #subletting #conciergerie
Hello to you, and welcome to the channel I display Complete. I hope you're doing well. Today we are talking about these owners, when we are a concierge service, who can sometimes be unhappy. And it happens even to the best to have a disgruntled owner. In these cases, we have the person on the phone who can be quite annoying. It can happen, so it's not necessarily an easy situation to manage, it's a situation that can sometimes be, for some of us, I think, even a little anxiety-provoking, a little worrying. So, today I am going to give you some tips so that you can manage this type of situation as comfortably as possible, or in any case so that you have the possibility of relying on methodologies to be able to exchange with the owner in a constructive way, because obviously, the objective is on the one hand to defend the quality of the work that you do on a daily basis to strengthen the confidence of your owner, but also to provide a real response to the owners, because the irritation which does not may manifest itself in a way that is not always constructive, there is a substance behind it, and it is important to treat it. It’s important to provide feedback and a response. So, if you are concerned by this subject, if sometimes, as I said, it happens to all concierge services without exception, really, if you have a concierge service, or if you plan to create a concierge service, I think that this video may help you. So stay with me. It's going to be interesting.
If you are not yet subscribed to the J'poster Complet channel, I encourage you to subscribe so you don't miss any live. You have noticed, I don't have the possibility, with my diary, to be extremely regular with my schedules, unfortunately. Once again, I apologize. But suddenly, it has an important advantage to be a subscriber, and to click on the bell so as to be really alerted when I go live. This will allow you to join me, and also, potentially, to ask me your questions. Besides, if you are there with me, don't hesitate to greet me, it's always a pleasure, or to ask me any questions you have, or perhaps, also, to share your experiences: have you ever had a disgruntled landlord? How did you manage it? What was his behavior? What were their complaints? Did that seem relevant to you or not? Write this to me in the comments. It's really very interesting, and you'll see, that's the case for everyone. This will allow us to talk about it and make sure we find something to do with it to be ready if the situation were to arise again next time.
So, I have four things to share with you on this. The situation is this: you may have owners who are unhappy on operational issues. That, I can't touch on that subject, because obviously, our field, at J'annonce Complet, is more revenue management, marketing, pricing, and optimization of the turnover. So, I'm going to confine myself to the subject of dissatisfaction which may be linked to that. It's true that with covid, you may have had certain situations in which, unfortunately, sales being more difficult to obtain, owners could be a little more unhappy than usual. The market has also changed enormously, so we have been forced to adapt. In a certain number of cities, the markets have collapsed, that is to say that pricing has really gone from simple to doubling. So, it was very frequent, Paris being the first market which completely collapsed, so it could have aroused among owners who entrusted us with the keys to their apartment, therefore becoming a little disengaged from the realities on the ground, from the realities of the market. This may have given some owners a bit of incomprehension, who, overnight, realized that in fact there were a lot of changes, and who didn't understand. So, in this situation, what options do I suggest to you?
− Hello Axelle. Welcome to live.
What points can I share with you to help you provide a concrete response to owners? The first thing I noticed, I noticed this from experience, because it happened to me a few times, it's not ultra-frequent, but it happened to me a few times to having owners on the phone who wanted to understand the revenue management strategy. The first thing, in my opinion, is to come back to the figures. For what ? When we move away from an activity, we may have a distorted memory. That's true for everything, whether it's the financial performance of your apartment or your personal life. When we move away, it's a vague memory. You may have owners who will have vague memories of their performance, who will tell you, for example, “Ah, the price has gone up. » I'll give you a concrete case, an owner who could tell you: "Usually, I sold for 100 euros. There, you sell for 70 euros, so it's still worrying. » That, you can provide an answer by saying: “It's true that in the past, you sold at 100 euros, but in reality, we only sold 20% in the month, in the past, at that price . So, what I am proposing to you is in fact to have pricing which will perhaps be a little lower, a little more adjusted, but to have, as a result, a filling which will be good more important than 20% filling, and therefore, ultimately, allow a greater turnover to be obtained. » So that was an illustration. But this illustration really goes to show you that we absolutely have to go back to the numbers. If we are exclusively based on impressions or “what we say”, and this is quite common in feedback from owners, it is an impression, in fact. Whereas when we give figures, it calms us down. And I noticed it, because I use this method. After hours of giving the figures, it completely calms people's minds, because we come back to something concrete. We say: “Ah, ok. It's true that I sold for 100 euros, but you're right, I didn't sell often. » So, that's the first factual point. This immediately starts the discussion in something constructive. Another example: “Ah, you are not satisfied with the filling of the apartment. We filled it to 70%, and you think that's too low. We could have paid a little less, but in which case, in terms of turnover, I don't know if you would have found yourself in this scenario. » Immediately, as soon as we talk about the figures, it's much more factual, and it helps to deflate the nervousness. So that's my first tip: talk about the figures for the apartment concerned, or the apartments concerned by the owner's grievances that you have on the phone.
The second tip, and you will see how important it is, I recommend that concierge services have AIRDNA. And this is yet another illustration of this interest: you need to put it into perspective with market information. If we have, I take the example of performance at 70%, a filling performance at 70% for this owner, for this property, and the owner expresses dissatisfaction, this can really be extremely relevant to promote quality of your work than to highlight the fact that on AIRDNA, the market only made 50%, on average. You can say: “I'm currently looking at AIRDNA for my city, in Dijon, the studios, and we have 70% occupancy, but know that the studios, on average, in Dijon, over that month, they don't 'were only 50% full on average. » So straight away, it's quantified, it's factual; there is a source which is not just yourself, it is an external source which allows you to put into perspective what we are talking about. And that is an argument that was very important to use also during the rather difficult periods that we have just experienced. Maybe it will still be useful in the future. I don't want to, because at some point, I still hope that we will be able to get rid of all these problems. But whatever happens, using market figures to put into perspective both the performance of the property in a general context, it will help you enormously, because if you do your revenue management well, and therefore, if you have good performances on your properties, your performances will be superior to the market performances, and this will also allow you to show owner the quality of what you do, and therefore the fact that the figures, as disappointing as they may be for him, in his perspective, well in reality, it is a good performance compared to the average of what ordinary seasonal rental companies have managed to produce in the city at that time. So, first tip: talk about the figures of good to leave this exchange on impressions. Second tip: put the property figures into perspective with the market figures to show that you are operating in a market that is moving, that is fluctuating. It's tourism, so sometimes it goes well, sometimes it's more difficult. And the objective we have as a concierge service is to do the best possible, but above all to do better than the market. And so, if you have done better than the market, part of the deal is obviously respected.
The third point can also be to do a little education with your landlord. Explain why you do that, why do your prices fluctuate depending on the type of period, why sometimes you have the impression that you can sell, in fact, less expensively than at other times, and explain your general logic to him, and thus make him understand that judging the quality of your work will be done on a more important scale than just next week. Judging the quality of your work will also be done on the scale of a year, to see if on the scale of the year, the turnover that he will have obtained thanks to the exploitation of the property will be greater than what has been done in the past. And it's only on this scale, we could say six months, we could say a year, but in any case, in general, when owners call, it's for the short term. They are very disappointed, because the upcoming filling does not reflect what they would like for the month to come, or conversely, they are disappointed because the month which has just passed is not what they would like. But show the owners that this is happening on a larger scale, and that as a result, maybe the average price is a little lower, but the idea is to fill in and Conversely, over other periods, you will obviously not hesitate to set average prices which will be much higher. So, that’s why this pedagogy part is really crucial. And in fact, I put it in third position, but in reality, it could have been in the very first position, because ultimately, the pedagogy, this time that you will spend with the owner explaining to him your way of working, by talking to him about revenue management, and talking to him about the methods that will increase the turnover of his property, you are building something with him, in fact. This is the advantage of this idea compared to the first two keys, is that you build trust at the same time, but by demonstrating your expertise. And this is where it is important, because once we have acquired the trust of the owner, unless we have a major accident, overall, it is a trust that will give us the future, and as a result, it will also streamline your relationship with the owner.
So, first key: talk about the numbers of the apartment; second key: put these figures into perspective with market figures; third key: don't hesitate to spend a little time training, allow your owner to improve their skills on all these revenue management topics, and explain to them why you operate like that.
And the fourth key, some choose not to do it, which I can understand, but this fourth key, in case of last resort, can still be a situation to allow owners to have exhaustive visibility and to definitively reassure yourself, or to express the limit in a factual way your points of concern, it is to share your entire revenue management strategy with them. What do I mean by that? What is revenue management strategy? These are the forecasts you have for a coming year, and the price grid that you have established for the year. Share this strategy with him, explain to him why, tell him that you have studied the history, that you have studied the market, that you have obtained demand forecasts, is the demand going to be strong, weak , average, and a price scale adapted to all that, a length of stay strategy, etc. By revealing this entire strategy to him, it's a bit like the last card to play to show him that you have anticipated all of this, that things are under control, that you have the professional expertise, that his apartment is between good hands. And frankly, if you have a strategy that is solid, in 99% of cases, it is a vector of reassurance for the owner to see that all of this is under control, and that these are not things that are decided on a corner of the mind. table.
That's it for the four keys. So, I'm doing a final recap: talking about the figures and the performance of the property, putting it into perspective with the performance of the market, and for the penultimate point, recalling how revenue management works, and doing a little teaching together on this subject, and the fourth point, finally, if all these points have not convinced the owner of the seriousness of what you are doing, well the last point is to share with him the entire revenue management strategy that you have established for its benefit. Namely that certain concierge services, as I said, choose not to share this part for the simple reason that obviously, the owner could harvest this revenue management strategy, leave you, and use it himself. -even. So, it's up to everyone, but it can ultimately allow you to convince the owner of your seriousness.
Hello everyone.
− Hello Mélanie. Welcome.
− Axelle, thank you for sharing. You tell us: “I had an owner who had arranged for us to take care of his swimming pool for free, which supposedly took 5 minutes for each change of customers. In fact, it turned out to take 2 × three hours a week…” That’s huge. “…Moreover, he blames us for the damage caused by travelers. I ended the contract at the end of summer. For what you are currently saying, the owner who is complaining about the number of nights sold also. »
Stunning. Look, it’s true that sometimes there’s that too. You know the Pareto law, it is always the 20% of your customers who give 80% of your turnover. This happens in many situations, but also, beyond turnover, there are also 20% of your customers, your owner customers who take 80% of your time. And so, it’s true that as you say, Axelle, it can sometimes be an excellent idea, when your concierge service develops, and when you start to have enough assets to make a choice to perhaps say to yourself: “ These owners require a lot of my time, so I am going to choose to stop working with them. » It's true that this can be part of the realities.
− Hello Laetitia. Welcome.
Look, I see I don't have any further questions. If you have any questions, points, subjects that are keeping you up tonight or that are a real thorn in your side currently, whether you are a concierge, a sub-let, or a seasonal renter, write to me in the comments these questions. It would be with great pleasure that I would take note of them, and that I would make these questions the subject of a future video. As you know, I make videos from Sunday to Thursday on all social networks. If you don't want to miss the next videos, subscribe to the YouTube channel I'm displaying Complete, and then if you are not in our private group which is called seasonal rental prices and maximization of turnover, I can only encourage you to join us. By joining the group, you will receive your free bonus of the six mistakes not to make when you make your prices, so I think that will help you a lot. The link is just below if you're on YouTube, or just above if you're on Facebook so you can join us. So. I say see you soon.
− “Thank you Élise. At the top. »
Thank you. See you soon. See you tomorrow for the next video. Take care of yourself.