How to Make the Case for a Raise as a Leasing Agent: A Step-by-Step Guide

As a leasing agent, you’re the vital link between your property and its potential tenants. You know better than anyone that your role requires a unique blend of customer service, salesmanship, market knowledge, and administrative skills. But sometimes, all your hard work and dedication can go unrecognized—especially when it comes time for a well-deserved raise.

If you’re looking to secure a salary increase, it’s important to approach the conversation strategically. In this post, we’ll break down the steps you can take to make a strong case for why you deserve a raise as a leasing agent.

1. Track Your Achievements and Successes

Before you even think about having a conversation with your manager or property owner, start by compiling your recent accomplishments. Reflect on your performance over the last year (or since your last raise) and collect data that demonstrates your contributions to the property.

Key metrics to track:

• Occupancy rates: Have you consistently helped fill vacancies? Highlight the number of leases you’ve signed and how it impacts the property’s profitability.
• Tenant retention: Are you skilled at keeping good tenants and reducing turnover? Tenant retention is often a key metric for property owners.
• Lead generation and conversion rates: How many leads do you convert into signed leases? A high conversion rate is a strong argument in favor of your value.
• Customer satisfaction: If you receive positive feedback from tenants or prospects, it’s worth noting. A positive reputation as a leasing agent can be a powerful selling point.

If you’ve exceeded goals or contributed to team success, make sure to highlight those achievements.

2. Know Your Market Value

Understanding the average salary for leasing agents in your area and with your level of experience is essential. You don’t want to ask for too little or, conversely, too much. Do some research on salary websites like Glassdoor, Payscale, or Indeed to see what leasing agents in your location and industry are earning. This can help you set a realistic target for your raise.

Don’t just consider your base salary—look at bonuses, commissions, and other compensation factors that can be part of the overall compensation package.

3. Understand the Property’s Financial Health

Leasing agents often work in tandem with property managers and owners to ensure the property is profitable. Having a sense of the financial health of the property you work for can bolster your argument. If the property has seen increased revenue, reduced vacancy rates, or an overall improvement in profitability, it’s more likely that there is room for salary increases.

If possible, inquire discreetly about the property’s performance or look at the property’s historical financial data. For example, if the occupancy rate has improved under your watch, use that as a reason to justify your raise request.

4. Prepare Your Case Using Data

Now that you’ve tracked your achievements and researched your market value, you’ll need to make a compelling, data-driven case for your raise. It’s important to present your value in tangible terms that your manager or property owner can understand.

Here’s how you can structure your conversation:

• State the facts: “Over the past year, I’ve been able to increase occupancy by 10%, which has contributed to a 15% increase in overall revenue for the property.”
• Show your impact: “In addition to filling vacancies, I’ve consistently received positive feedback from tenants, contributing to a 5% improvement in our retention rate.”
• Link your compensation to performance: “Given my success in meeting and exceeding these goals, I believe my compensation should reflect my contributions to the property’s continued success.”

By presenting hard data, you position yourself as a results-driven professional who is directly tied to the property’s success.

5. Timing Is Everything

Timing your request for a raise is crucial. Make sure you’re asking at a time when your contributions are fresh and can be backed up by recent successes. It’s also important to consider the broader context of the business—if the property is undergoing financial difficulties or hasn’t seen positive results recently, it may be harder to justify an increase.

Try to schedule your conversation after a successful leasing season or when occupancy rates are high. Avoid periods of high stress or when the property is facing challenges.

6. Have a Professional Discussion

When you’re ready to make your case, ask for a formal meeting. This shows that you take the conversation seriously and are approaching it professionally. Stay calm, confident, and polite throughout the discussion. If you’ve done your research and have a strong case, there’s no reason to feel nervous.

A few tips for a successful meeting:

• Be prepared to listen: Your employer may have reasons for their decisions, so be open to hearing feedback, whether it’s about your performance or the property’s financial constraints.
• Be flexible: While a salary increase may be your primary goal, be open to other forms of compensation, such as bonuses, additional benefits, or professional development opportunities.
• Stay positive: Even if the answer is “no” or “not right now,” express appreciation for the consideration and remain professional. If it’s not the right time, ask for specific goals you can work toward to revisit the conversation in the future.

7. Follow Up

After the meeting, be sure to send a polite follow-up email thanking your manager for their time. If you didn’t get the raise you were hoping for, use this opportunity to inquire about any steps you can take to increase your chances in the future. Be proactive in setting goals and showing how you can continue to add value to the team.

Final Thoughts

As a leasing agent, you are a key player in the success of the property. Your efforts in marketing, customer service, and sales are directly tied to the bottom line. If you’ve been consistently exceeding expectations, it’s reasonable to ask for a raise. The key is to approach the conversation professionally, armed with data, market research, and an understanding of the property’s financial performance. By demonstrating your value and making a well-reasoned case, you increase your chances of securing the raise you deserve.

Best of luck—your hard work deserves to be recognized!