CRE Leasing’s Best Kept Secret: The Setter-Closer Model

Make your prospecting process 4-5x more efficient with the Setter-Closer Model.

 

Let’s start with a universal truth: everyone has limited time and wants more money in their pockets. While we’re certainly not here to make any promises we can’t keep, we can say for certain that the Setter-Closer model can help you do just that.

 

So what is the Setter-Closer Model?

The Setter-Closer Model operates on the principle that humans are easily distracted. It takes an average of about 24 minutes (23 minutes and 15 seconds, to be exact) to return to an original task after an interruption, according to Gloria Mark, who studies digital distraction at the University of California, Irvine.

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The Setter-Closer Model maximizes the way the human brain works by separating prospecting from what is usually one job function into two: the “setter” and the “closer”. This separation allows one person to focus on finding prospects and another person to focus on meeting with the prospects and closing deals.

 

In many cases, the setter-closer relationship can sometimes be similar to a mentee-mentor partnership, where the pair work in a positive feedback loop.

 

So who makes a good “setter”?

 

While it may be assumed that the setter should be someone junior, this is not always necessarily true. What’s more important is that the setter is open to learning and being coached by the closer on what businesses to be on the lookout for (and it’s a plus if they are tech savvy!).

 

Also, framing the role of the setter to be a position with great career growth is imperative in our rapidly changing world. So, we always encourage businesses to take the time to teach setters as much as possible and have them listen in on calls that the closers have with potential tenants. Taking this approach builds company culture AND just might mean training your next Head of Leasing!    

 

Here’s a list of some titles that typically make good “setters”:

 

Ideal Job Titles for Setters

 

Leasing Coordinator

Admin

Executive Assistant

Virtual Assistant

Junior Agent/Broker

Intern

Marketing Coordinator (& Marketing in general)

 

 

How exactly does the Setter-Closer Model operate?

Step 1 Target

The graphic above displays how the model functions. For the first step, the setter takes the time to locate the potential businesses that could be a good fit for the shopping center, making sure they’re not reaching out to someone they’re already speaking with.

 

Next, the setter logs in as the closer to reach out to the list of potential prospects. While the chart says this should be an email, this can really be a Facebook message or phone call depending on the situation.

 

Lastly, the setter stays in close communication with the closer and lets them know ASAP who responded to the initial outreach. Once this happens, it’s the closer's job to get the prospect on the phone as soon as possible to see if a potential deal could be reached.

 

The closer makes sure to take the time to coach the setter on which leads are qualified, helping to create the positive feedback loop we mentioned earlier.

 

And most importantly – don’t forget how important it is to follow-up. It often takes 8+ touchpoints to close a deal. We talk about this extensively in this previous blog.

 

If you give the Setter-Closer Model a try our team would love to hear from you! Reach out for a demo today and learn how Resquared can help increase productivity and streamline your setter-closer workflow!

Request Demo

 

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