VRMA Sponsor Round-Up offers the latest products and services from VRMA’s member company sponsors.
The Formula for a Winning Team
Legendary UCLA Coach John Wooden won 10 national titles in a span of 12 years. During one stretch, his teams won 88 consecutive games. No one in college basketball history can touch the dynasty Wooden created. But did you know it took Wooden 15 years before he won his first title?
Wooden understood that building something that lasts takes time and dedication. He didn’t believe in shortcuts. He preached hard work, responsibility and teamwork above all else. And, he never wavered from his principles. Winning was simply a byproduct of doing things the right way.
At LiveRez, we have a special place in our hearts for John Wooden. It comes directly from our own coach, CEO Tracy Lotz. Like Wooden, Tracy believes that when you work hard and work together, you can overcome nearly any obstacle. And he’s no stranger to beating the odds.
Tracy came from humble beginnings. He entered the industry in the early 1990s with a single computer, a book on building websites and the spirit of an entrepreneur. He now runs the largest and fastest growing software company in the industry. But his journey from underdog to contender didn’t come easy.
Through countless struggles, Lotz and his team at LiveRez developed not only software, but grit, determination and an appreciation for teamwork. Along the way, Tracy didn’t take shortcuts. While competitors took venture capital or sold to big money, Lotz bootstrapped LiveRez with his own savings. Today LiveRez carries no debt and is beholden only to our partners.
At the heart of LiveRez, we exist to help our partners win. To win the right way. To win as a team. And to win together. If you share these values, there’s a place for you on Team LiveRez.
CSA Travel Protection
Grow Your Business and Protect
Your Guests in 2017
It’s hard to believe that we’re already mid-way through the first quarter of 2017! Luckily, there’s still time to implement business strategies and seek new ways to exceed your 2016 revenues.
If you manage coastal properties, you may be making a push to encourage more bookings now through spring, while also gearing up for high season. And if your rentals are in a cold or mountainous region, you may still be getting business from skiers and putting plans in place to maximize bookings when the weather turns warmer. No matter what region your rentals are in, offering Vacation Rental Damage Protection and Guest Protect travel insurance plans to your guests all year round is a great way to earn additional revenue and help protect them from losing their valuable trip investments.
For more than 25 years, CSA Travel Protection has been dedicated to helping you and your guests. Our plans include coverages such as Trip Cancellation, Trip Interruption and Travel Delay, and services like 24/7 emergency assistance, concierge and on-demand medical assistance. All aspects of our insurance programs are managed in-house, which means we don’t outsource the administration and servicing of our plans to companies that don’t specialize in travel insurance. As a CSA business partner, you also get access to exclusive trainings, selling tips and tools, and marketing resources to help you comfortably offer our products to your guests.
Now is a great time to get in touch with your dedicated CSA account manager to review and optimize your travel insurance programs. We’re happy to answer any questions you may have and work with you to develop a plan to increase take rates. And if you aren’t currently a CSA customer, we invite you to learn more about how we can help you and your guests. Visit www.csatp.com/vrma, or contact us at (800) 989-8684 or email@example.com.
We look forward to working with you in 2017!
One Quick Fix to Immediately Improve Reservations Conversions and Sales for Vacation Rentals
Before VRMA National, our team made more than 400 calls to 84 properties in order to take the pulse of vacation rental reservations sales and establish benchmarks. We measured 10 areas, from answer to hang-up. Some 72 percent of agents were professional and courteous, suggesting they understand their role in service delivery. So far, so good.
But only 9 percent of the agents in our sample proactively asked for the reservation. It doesn’t come naturally; it requires training and practice. But it increases the chances the guest will book by 440 percent (Hotel Marketing).
The answer is just as important as the question. A noncommittal guest is an opportunity to follow up. If the guest declines, it’s an opportunity to overcome objections. Failing to ask loses these two essential pieces of the sales process.
With more than 400 VRM and hotel clients, NAVIS knows that the top three areas agents should focus on (which we call the “big 3”) are:
Asks open-ended qualifying questions. Practices active listening. Uses information discovered to build rapport, find the best property, and sell the experience.
Confidence and giving personalized recommendations
Gives personal recommendations and is excited about the product. States the value before the price. Acts as the in-the-know expert and demonstrates confidence.
Asking for the reservation
Asks for the sale after they have earned the right.
These three areas alone increase clients’ inbound conversion rate by 7-12 percent, on average. Adding outbound selling practices (a no-brainer), add an average $4,000 in incremental revenue per unit, per year. For a 200-home vacation rental management company, this could amount to $800,000 in just 12 months.
The reality is that this level of performance improvement takes hard work and alignment from the entire team, but the rewards to the team and to overall performance are immediate.
HomeAway is more than just a website. We’re a network of 45 sites around the world, receiving millions of visits per month. We’re the world leader in vacation rentals with a team of people dedicated to serving our property managers. We recognize that you need more tools and increased functionality to manage your vacation rental business. That’s why we offer dedicated services and features to make it easy to advertise your rental portfolio, whether you manage five properties or 500. With HomeAway, you get access to a worldwide network of travelers, dedicated account management and support, and flexible pricing options to get you the most value and best return from your marketing investment. All the tools you need to succeed, and integration with the leading software providers around the world, make it easy for you to manage your listings and bookings straight from your software.
Our account managers are standing by to recommend strategies, maximize your marketing ROI, and help your business grow. Get started with HomeAway today and call 1-888-581-1849!
As a gold corporate sponsor, Streamline will play an integral year-round role in supporting VRMA’s education, events and publications, helping to further the association’s work to advance the professionally managed vacation rental industry
Built by property managers for property managers, Streamline Vacation Rental Software is smart, modern, powerful, and truly one of a kind. Nearing 12 years of innovation and proven excellence, Streamline has quickly become an industry leader, raising the bar in the realm of property management technology. More than just a software, Streamline is a long-term business solution formulated by property managers to solve their evolving needs. To learn more visit www.streamlinevrs.com.
Proper Insurance Services
Proper Insurance has quickly earned the top referral spot for many professional property managers across the U.S. Thank you! Insurance is complicated and with the growing regulations on short-term vacation rentals, many insurance carriers are not adjusting or accepting the exposure. Property owners seem to get different answers from different carriers; except when they call Proper. When your owners ask about insurance, call Proper 888-631-6680. It’s that simple.