Managing Properties In A Fast-Paced World

How to Make Communication & Customer Service a Priority

It's late Friday afternoon and you are running behind for a dinner meeting with a major client. You have to give a presentation on Tuesday, your best property manager just resigned and budgets are due. Monday is a holiday, but it looks like your plans have just come to a grinding halt—you need to work that day just to catch up. It gets worse; the boss just called to tell you that your property is for sale… again.

Opportune Times

Improve marketing by investing in technology and tenant service

You’ve probably heard the saying, “Opportunity knocks.” But when opportunity does show up at your door, will you be ready? Sure, we all have troubles these days with properties, tenants and even employees. It’s a challenge to get creative with marketing when much of your time is spent trying to figure out how and where to cut costs. But the dog days of summer just may provide the necessary downtime you need to invest in and improve your marketing strategies. Take advantage of this time so that when opportunity does knock again, you’ll be in the best possible position to open the door.

Get On The Short List

Attracting business from owners requires knowledge and networking

It’s a small world. My former boss used to say that real estate management is a handshake sort of business, where who you know can be just as important as what you know. This is a crucial concept when it comes to getting your company hired as a third-party manager. How do you know what will appeal to owners in these tough times? Here are some ways to get your company’s name on the short list.

Surviving Office Politics In the New Economy

You know the scenario: You're presenting an important proposal to your company's executive team when you realize the theme from "Jaws" is buzzing in your head. Somehow, the office shark has done it again. He has managed to both put down your idea - in front of your colleagues, no less - and get the other lesser sharks to swim along with him. Face it: You're in the wrong aquarium.

Make No Mistake

Avoid these common mishaps when marketing your properties

This time of year , advice is plentiful . As a mother of a high school senior on the brink of applying to college, I am receiving a variety of sugestions on how my daughter can best market herself to the schol of choice . Surprisingly, I’ve found that much of the best marketing advice for college-bound students can be applied to business owners and property managers: Network and build your reputation. Differentiate yourself from everyone else out there. Be genuine. And perhaps most importantly in these trying times, don’t sabotage your own efforts. Here are four marketing mistakes you should avoid:

Is Your Tenant Headed For Trouble?...

It’s noon on Friday as you walk into Andre’s Attitudes, a full-service hair salon in the neighborhood shopping center you lease, intending to talk with Andre about his overdue rent. Andre is nowhere to be seen, and another stylist tells you he is not only out of the salon for the day, but is out of town for an undetermined period of time. The usual receptionist, who also handles the bookkeeping, is out sick; and no one else seems to know when—or where—you will be able to pick up the rent check.

Techniques for Tough Times

Don’t Let the Recession Hamper Your Marketing Efforts

When times are tough, we all want to save money. Often this leads to cutt ing back on resources and limiting our company’s marketing budgets. Although prudence is a virtue, now is exactly not the time to drastically reduce your marketing efforts. Here’s the good news: even if your company is small, you can invest in its future with some techniques that are relatively simple and easy. Here are some ideas to get started:

Marketing the Unmarketable

Difficult-to-lease spaces need special attention and unique marketing tactics

You know how it goes: Your shopping center has a vacant space or two you just can’t seem to lease up. You planned to have the space leased this quarter, but time is passing and it just hasn’t happened. Merchants are dissing, brokers seem disinterested, and your owner is dissatisfied.

Stay On Message

Focus marketing efforts by knowing your target audience.

One key aspect of your job As a real estate manager is to attract tenants to your commercial building, retail center or apartment site. To do that, you must focus your message for your target market. But first, make sure you already have a clear understanding of where your property sits in its marketplace relative to the competition, and who your customers (and prospective tenants) are. Here are a few tips I’ve learned along the way:

Rules Of Attraction

Getting the best management team in place requires a marketing strategy

Imagine a perfect management world: It’s Monday morning and you’re extremely satisfied. Your new property management team is self motivated, you’re happy with everyone’s performance and they all fit right in with your company’s culture. Even better, well-qualified candidates are knocking down your door. Now imagine reality: You’re pulling your hair out and it’s only Monday. You have absolutely no prospects for your vacant property manager position. The assistant property manager doesn’t seem to get along with anybody and you’re going to have to begin disciplinary action. Even worse, the engineer can’t be found.

Back To Class

Adult acting class was off script

It all began with the brochure. Sleek and glossy, the colorful pamphlet from Orange County's South Coast Repertory – with its descriptions of adult acting classes – tempted me to look closer. Possibilities beckoned! I could achieve personal growth and development, learn how to use storytelling techniques and rediscover the art of communication, all by simply signing up. Like so many in commercial real estate, I had some spare time. Perhaps I could regroup and sharpen my skills. And why not do that on the stage of a dynamic regional theatre company? Excited by the prospect of taking class in a theatre again, I pulled up the registration on my laptop. Except... What was I thinking?

Word Of Mouth

Creative use of credentials opens doors.

D uring my 15 years as an IREM instructor, many students have asked me to help them weigh the potential benefits of becoming a CPM or an ARM. Most of them consider obtaining an IREM designation for the knowledge, credibility, resources and networking it affords. In today’s competitive business climate, they want to stand out in the crowd of real estate management professionals.

Speech Therapy

Delivering a great presentation requires preparation and poise.

You’ve been working hard on a proposal for a potential client because the account could put your company on the map, and finally, you’ve been granted the opportunity to make a strategic oral presentation. Suddenly, you’re a little lightheaded, and your palms are sweaty. Your stomach is dropping faster than Disneyland’s Tower of Terror. If this reaction seems familiar, you’re not alone. For many of us, the mere thought of speaking in public evokes a fight or flight response.