The Ellis Benchmark Ranks Nationwide Mystery Shopping Scores
The Ellis Benchmark Report compares shopping report performance for the multifamily industry. Have you ever asked yourself the question, “How do our leasing professionals compare to those in comparable management companies?” Now you can get an answer to this question, at least in regard to your onsite team’s leasing performance. Ellis has created a quarterly shopping performance rating report for major shopping Customers.
The Quarterly Shopping Performance Summary measures the affirmative answers to 10 key and universal shopping report questions. With consultation from major Customers, Ellis has identified the 10 leading performance questions common to most telephone/onsite mystery shopping reports. Participation in the quarterly Ellis Benchmark Report is a benefit reserved only for larger and long-term shopping Customers. We will not reveal the participating management companies by their individual performance scores. However, each quarter approximately 35 to 40 companies are represented, which equates to summary data comprised of anywhere from 4,500 – 5,000 individual shops during those three months.
As such, the Ellis Benchmark Report provides our participating clients with a sizable sampling of data to help them evaluate their performance in the market. Below are the 10 key questions. Two of the questions relate to the telephone presentation while the remaining eight questions correspond to the onsite presentation. Participating management companies can even compare how their company ranks on a question-by-question basis. Note that the percentages reflect the weighted average of all shopping reports, resulting in a fair and equal comparison.
Ellis has been providing comprehensive, executive-ready shopping reports nationwide for more than 25 years. Our references include some of the largest and most well-known property management companies in the country.
Why Use Benchmarking
Ellis selected 10 key questions, common to all shopping reports. A majority of property management companies have an organization-specific shopping report format, which still addresses the 10 key questions to allow for consistent comparison.
The 10 Ellis Benchmark Questions:
The Ellis Benchmark Report ranks our participating Customers based on the performance on 10 critical questions from their shops. These questions are:
- Setting an Appointment
- Obtaining a Telephone Number
- Positive First Impression
- Identifying the Prospect’s Specific Needs
- Discussing and Showing the Property
- Condition of the Apartment Shown
- Selling of the Apartment Features & Benefits
- Overcoming Objections
- Asking for a Deposit
- Would the Prospect Lease from that Associate
Impact of the Ellis Benchmark
Not only does benchmarking let you measure your service against that of your competitors within the industry, but an effective benchmarking program will give you critical information about your overall performance so that you can shore up weak spots and market your strengths. The Ellis Benchmark can be used to create healthy competition within the company as well, in addition to giving the ability to focus your training strategies on both strengths and weaknesses in the leasing presentation.
The Ellis Benchmark has become a respected tool in the multifamily industry, often giving participating companies a competitive edge. Many Customers successfully utilize their participation status in completing RFP’s to acquire new business. The summary data from across the industry is extremely helpful when used as a supplement to your shopping reports.
Benchmark Participation Criteria
What types of companies participate?
- Large, medium and small property management companies
- Regional and national companies
- A, B and C properties – conventional and affordable
Requirements for participation
- 40 or more shopping reports per quarter
- Shopping report must address the 10 key questions
- Review and sign letter of agreement outlining the program
All Things Considered... An Ellis Perspective 