COS Marketing & Sales Strategies 3 — Questions and Answers
Question 1: When a prospective resident tours a unit, which leasing technique is MOST effective for closing a lease?
- Pressuring the prospect to sign the same day
- Highlighting features that match the prospect's stated needs (Correct answer)
- Offering a unit in a different building without explanation
- Avoiding discussion of rent until after the tour
Correct answer: Highlighting features that match the prospect's stated needs
Matching property features to the prospect's specific needs builds relevance and increases the likelihood of a lease commitment.
Question 2: Which digital marketing tool allows an affordable housing property to target local prospects searching for 'low-income apartments'?
- Print newspaper inserts
- Search engine pay-per-click advertising (Correct answer)
- Direct mail postcards
- Telephone cold calling
Correct answer: Search engine pay-per-click advertising
Pay-per-click ads on search engines display to users actively searching relevant keywords, providing highly targeted local reach.
Question 3: Under Section 504, what must a property's marketing materials communicate to prospects with disabilities?
- That pets are not allowed
- The availability of accessible units and reasonable accommodations (Correct answer)
- The income limits for all bedroom sizes
- The property's inspection history
Correct answer: The availability of accessible units and reasonable accommodations
Section 504 requires properties to affirmatively market accessible units and inform prospects of their right to request reasonable accommodations.
Question 4: What is 'affirmative fair housing marketing' (AFHM) primarily designed to accomplish?
- Maximize rental income beyond program limits
- Attract applicants from groups historically underrepresented in the area (Correct answer)
- Reduce advertising costs for the property
- Limit applications to current neighborhood residents
Correct answer: Attract applicants from groups historically underrepresented in the area
AFHM plans require properties to proactively reach underrepresented groups to foster inclusive, integrated communities.
Question 5: A property manager notices the waiting list is exclusively composed of one demographic group. What is the MOST appropriate action?
- Continue current marketing since the list is full
- Review and broaden the AFHM outreach to underrepresented groups (Correct answer)
- Close the waiting list immediately
- Offer bonuses to current residents who refer friends
Correct answer: Review and broaden the AFHM outreach to underrepresented groups
A homogeneous waiting list signals insufficient affirmative outreach; the AFHM plan should be reviewed and expanded.
Question 6: Which statement BEST describes the concept of 'value proposition' in affordable housing marketing?
- The lowest possible rent offered to any applicant
- The unique combination of benefits a property offers that meets resident needs better than alternatives (Correct answer)
- The total value of all property assets
- The ratio of occupied units to total units
Correct answer: The unique combination of benefits a property offers that meets resident needs better than alternatives
A value proposition communicates why a prospect should choose this property by highlighting its unique benefits relative to other options.
Question 7: How should leasing staff respond when a prospect objects that the unit is 'too small'?
- Agree and end the conversation
- Acknowledge the concern, then highlight storage solutions and efficient layout features (Correct answer)
- Offer to illegally subdivide another unit
- Lower the rent to compensate for the size
Correct answer: Acknowledge the concern, then highlight storage solutions and efficient layout features
Handling objections by acknowledging the concern and redirecting to relevant features keeps the prospect engaged and moves toward a leasing decision.
COS Marketing & Sales Strategies 3
When a prospective resident tours a unit, which leasing technique is MOST effective for closing a lease?