Social Media goes the way of Academia

Here is a very interesting read about Social Networks…[Courant.com]

I think Social Networking via the Myspaces, Facebooks and LinkedIn’s of the world have become the way of the social world, it will be interesting to see how they really take effect in the business world.

Already we see Apartment communities with MySpace and Facebook sites communicating that way with “wall postings” and what would be considered email that is embedded in those spaces.

Hold on as 2008 is sure to be interesting…

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Should we add a social media search to our background checks?


The caption under this photo read “Watching You Watching Me”

Remember the post I did a couple of days ago about reputation? [click here if you missed it]

I think, as many potential employers are doing, we should design a system that would scan the social media sights for potential “red flag” behaviors of potential apartment residents.

We could design an algorithm based a variety of appropriately weighted derivatives targeted at identifying and assigning a R(Q) reputation quotient to each prospect. That could then be introduce to our various credit and criminal background models.

The algorithm would search for an number of otherwise apartment unfriendly behaviors. It would seek out blog posts, facebook smack talk, and Myspace friendly talk amongst other things.

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Portable apartment mini-model

Today someone told me of an outrageous idea that someone executed. I liked it so much I had to blog about. If this was your idea, please tell us more about it in the comment section below.

The apartment community created a portable mini-model that they displayed in a local mall. Talk about an attention getter. That to me is the kind of marketing that gets talked about. It creates buzzzzzzzz

I would love to hear more about if someone has the full scoop.


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When the close rate is high, traffic is up

This is an interesting insight via GrokDotCom:

Roy Williams, the Wizard of Ads, shares a brilliant insight from one of his fastest growing retail clients today in his Monday Morning Memo:

I asked, “How is traffic trending? Are we ahead of last year?”

“Roy, I don’t measure traffic.”

“You’re kidding.”

“Last week one of my salespeople made 63 sales
presentations and closed only 24 of them. That tells me 39 people
bought somewhere else. And right now they’re telling all their friends
why they bought where they did. They’re showing off their purchases and
explaining why they didn’t buy from us.”

“Good point.”

“That salesperson is no longer with us.”

“You’re really serious about this.”

Today’s close rate is the most reliable indicator of tomorrow’s traffic. When close rate is high, traffic increases. When close rate begins to slide, traffic soon begins to slide as well.”

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Trust and Reputation in the property management business

You can’t have one without the other just as we earn trust we must earn our reputation. We got a great testimonial from a current resident today which added value to our organization and we still have a long way to go.

Why?

Because the testimonial spoke to the location of the apartment community vs. the amazing customer service. Don’t get me wrong, I enjoyed the good words and at the same time I want people to shout from the rooftops because we treated them with amazing service. In essence we handled their need whatever that need may have been.

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Make your Apartment Property Insanely Great in 2008

I wanted to start the year of with a quote and this is the one I chose…

You
must live in the present, launch yourself on every wave, find your
eternity in each moment. Fools stand on their island opportunities and
look toward another land. There is no other land, there is no other
life but this.”

– Henry David Thoreau

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Changing the name of maintenace supervisors, technicians and make ready guys

I hear the word apartment maintenance and I think of maintain. Not really the proactive environment I am looking for. I like the phrase preventive maintenance but it is just not sexy enough.

What about introducing our apartment service teams as our solution officers or proactive personnel? Or, our bias for action team. I mean if The Secret is true then the more we use this kind of language then eventually the biases will imbue on the minds and hearts of the team. The byproduct would be enhanced real time actions, right?

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Apartment Management Accountability

Subordinates need to be willing to be held accountable and managers need to be willing to hold them accountable.” –Mark Goulston

I ran across the above quote while reading this morning and it really got me thinking about employee reviews. I have seen this equation work both ways meaning that sometimes the “subordinate” is thirsty to be held accountable but the manager is unwilling or unable. Conversely I have seen managers who are great at holding people accountable yet the “subordinate” makes no effort to amend destructive behaviors.

It truly is when both are willing and able that teamwork manifests. And, when that happens the natural byproducts are more apartment leases and amplified retention.

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Prometheus Real Estate Group takes the leap to Non-Smoking apartments

Bay Area Owner/Developer Takes No-Smoking Stand to Eliminate Fire, Health Dangers
Published: December 24, 2007

By Teresa O’Dea Hein, Managing Editor

San Mateo, Calif. — Prometheus Real Estate Group, which has over 18,000 housing units planned or underway in California and the Pacific Northwest, has implemented a no-smoking policy for all its new multifamily communities. The company is said to be among the first leading apartment owners to implement the policy in the San Francisco Bay Area. [see

  full story here]