Accounting Terminology
The Property Management Co. charges fees for managing the portfolio.
What are Management Fees?
Often focused on the front end of the business. Putting behinds in beds.
Who is a leasing agent?
You should have one on every demonstration, and it outlines the purpose of each call.
What is an Agenda?
This part of the "sales cycle" is critical for understanding a client’s or prospect’s business.
What is discovery?
The maximum amount of rental income that can be attained within a time window, assuming properties that are occupied are market rent
What is GPR?
Often, the most complex individual to gain buy-in from for switching software.
Who is an Accountant?
Your demonstration should be based on this.
What is your discovery?
BANT
What is our sales methodology?
These fees, such as late charges, markups, and application fees, often do not reach the owner or owner distributions.
What is Pass-Through income?
I am responsible for the day-to-day operations of a given property or a group of properties.
Who is the Property Manager?
What we spoke about
What the client or prospect said
What are our next steps are
What are your notes in SFDC?
It never happened if it's not in (FILL IN THE BLANK).
What is SFDC or CRM?
A PMC would take revenues and subtract out all expenses to determine this.
What is Net Operating Income (NOI)
In large organizations, this group will often be involved in business-critical decisions.
Who is the Board of Directors?
True or False - When demonstrating, is it ok to show how each feature works within the solution?
False. It is ok to answer "yes" and continue. If your client or prospect wants to see something, they will ask.
To overcome objections, it is helpful to use "BLANK"
What are their words?
Within charge codes and pay codes, there are detailed accounts for specific tasks and posting rules.
What is GL Mapping?
I will often be your advocate, and at times, I'll be the POC for this evaluation and implementation. You want me involved and rooting for you/SS&C Skyline but others as well.
Who is my Champion?
We should wrap up every meeting with this?
What are next steps?
You can use this to create urgency. A tradeoff...
What is give-and-get?