What’s the (Negotiated) Deal?
If you follow us on social media, you’ve likely seen us post properties with caption descriptors like “negotiated deal,” “exclusive pricing for Smart City clients,” or “only xx units available at this price.” Yes, we always only post the best-priced units in each of our servicing cities, but did you know that a portion of those deals are negotiated by us, for you? In order to explain the process, we’re going to play a game of “two truths and a lie.”
Strapped for time and need to skim? We got you – peep the bolded part of each section, then bookmark this blog to read the full details later!
Smart City is a pioneer when it comes to negotiating rent.
Truth number one – A few years back, our CEO, Cassie, asked a property in Dallas to lower their rent. We gave the property data on price comparison and our company’s leasing success in that neighborhood, and wouldn’t you know it, they agreed! Now, we’re the first group of locators with an established Property Relations team in each city dedicated to negotiating deals with local properties. Sure, we make it sound like all you have to do is ask, but it’s much more intricate than that and properties will look at you crazy if you walk trying to negotiate pricing.
Establishing exclusively negotiated rent is still new in apartment locating (even though we set an audacious 2020 goal to lease 2,000 clients in negotiated units), so the stars really have to align for a negotiated deal to successfully come together. Our goal is always threefold: lease as many clients as possible at lower costs than they could find themselves, help properties lease units in bulk, and keep the lights on here at Smart City. Our Property Relations team keeps a rolling tab on industry and neighborhood data so that when we approach a property about exclusive pricing for our clients, we’re ready! Our team might look at things like occupancy rates, floor plan availability, leasing rates, and new property development/comparison; it really depends on the type of deal we’re trying to establish!
Once the numbers reflect projected success for our clients, the property and business development, we go for it! Sometimes, if rent can’t be negotiated, our Property Relations team explores the option of negotiated concessions with the property. These might show up as waived application or administration fees, lowered deposits, or concessions around pet fees. The important thing is that when they do show up, it’s for our clients only! Can you guess our next “truth?”
Negotiated Deals are exclusive to Smart City clients only.
Truth number two – The whole idea behind a negotiated deal is that not just anyone off the street could gain access to that price or concession. This may seem like a “duh” statement if you just read everything above, but it’s a common misconception that the type of pricing achieved through a Smart City negotiated deal already exists in the market. Well, we’re here to tell you that it does not!
We’re not going to sit and act like we’re the only apartment locators in DFW, Houston, and Austin. Properties pay locators through marketing budgets, which keep our service free to our clients, so we wanted to do our clients one better and add an extra tier of exceptional service. What better way than by lowering apartment costs? Needless to explain any further, pricing associated with a Smart City negotiated deal is exclusive to our clients and our clients only. It sets us apart from other brokerages and locators leasing apartments in our current markets, and continues to support our company statement that we really do “take your space personally.” There’s even an official contract signed between Smart City and the property, and everything!
These deals will be around “tomorrow” or “next week.”
Lie, lie, lie! Units associated with a Smart City negotiated deal typically lease within 24 to 48 hours of the deal being posted to social media. Okay, wait, don’t smack your lips at us just yet. We know clients already using us may not be perusing social as diligently because they have an agent taking care of their list, so we make sure they get a heads-up about the pricing and neighborhood location from their agent right before the deal is posted on social media. So, it’s fair game.
As a side note, and one worth knowing, since pricing within the apartment market is largely regulated by supply and demand (hello, high school economics class), it fluctuates DAILY. Yes, daily. As we continue working alongside properties and proving leasing success, we’ll essentially affect pricing of surrounding properties as supply and demand in that area shifts. We won’t get into all that right now; just know that pricing, established by our Property Relations team here at Smart City, is disrupting the apartment market and changing the way people find apartments.
Okay, so maybe this wasn’t a true game of two truths and a lie because we gave you the answers, but you get the picture. We post negotiated deals in all three metros that we service, so make sure you’re following us on Instagram and Facebook so that you’re ready the next time one pops up!
Dallas/ Fort Worth ∙ Houston ∙ Austin
If you’d rather get a head start and begin searching for your next apartment now, fill out a 30-second webform through our website by clicking the button of your respective city!
