4 Steps to growing Property Managers

There are many variations of the following principle out there so I’ll make no claims of a new approach. That being said I think there is a tremendous value in creating goals and or targets to shoot for in your personal and professional life. To illustrate, I heard a speech sometime back given by the famed Zig Ziglar where he quipped, "How can you hit a target you do not have?" It was an a-ha moment for me and I have since made it an annual exercise to write down some goals, usually around New Years Day.

The goals were usually targeted for the following year and they were more about things that I wanted as opposed the person I was to become. Please note that I am not suggesting that "thing goals" are not good or necessary. They are very necessary. However, that should not be the end of the exercise. If it is, that is somewhat short-sighted. I decided that my targets should really be further out there, more big picture if you will.

All that being said, I want to share this as an exercise you can do with those you lead. Try it and let me know how it turns out.

1. Have your direct reports Imagine that they are deceased. Morbid I know but stick with me.

2. Then have them imagine that they get a chance to come back to address those they provided influence to in their lives. Both Good and Bad.

3. Have them write a speech or create a power point presentation. *Note, it’s not an apology speech. It is a speech about the lessons they have learned via this vehicle we call life.

4. Have them deliver that speech to their associates.

What does this accomplish? Clarity and Purpose. Do you want to develop amazing leaders in this industry? Do you want to be one yourself? Do you want to be responsible for the development of amazing people? Take the time to have them complete the above steps and be patient.

The assignment will be challenging and heartfelt if taken seriously and it will define the absolutes that guide ones life. Values, if you will.

Once those goals and or targets are defined we can go to work helping the person(s) become the great leaders of tomorrow.

Why did you lease?

We should be asking new residents why they leased in lieu of asking 
prospects why they didn’t lease. We could quickly identify our 
strengths and then market those heavily.

Building Meaning on your Blog

Our world has quickly morphed into a quest for meaning or has it always been that way? Maybe we are just now taking hold of the philosophy and giving it the press it deserves.

That being said Seth, in his truly infinite wisdom guides us on the authentic creation of meaning when crafting a blog.

For those of you that have thought about starting a blog for your property or about the industry in general or for those who have taken the plunge these principles will be very helpful.

Have an amazing Friday!!! M

The key to a thriving life

"Until you value yourself, you won’t value your time. Until you value your time, you will not do anything with it." -M. Scott Peck

Could I take that one step further in the way of being a leader in the Property Management Space? Until you value your time you won’t value the time of others either.

Echo Boomers and the propensity to rent…but from whom?

I pulled the following excerpt from an AP story over at [Yahoo]

"The so-called Echo Boomer generation, which is loosely defined as the
children of Baby Boomers, will help drive business for Equity
Residential and the apartment market as a whole, Neithercut said. He
said the population, estimated at 80 million, will have a high
propensity to rent and will be attracted to the company’s core markets."

That is, in part, David Neithercut’s, sentiment on the multi-family market and more specifically the core markets that EQR manages property in. Mr. Neithercut is the CEO and President of Equity Residential Properties based in Chicago, IL.

I’ve read the estimates that the EB crowd numbers in the 75 to 80 million range, I have also read that 57% or greater are staying home and or going back to live with Mom and Dad after college graduation. [Read Here] And, note that affordability not only seems to be a driver for more renters in lieu of buyers  but it is also a driver for doubling or tripling up and or staying home a few more years. The Echo Boomer’s are ambitious and driven not to mention more responsible than most think. If they can live at home with little to no overhead and pay down college loans and otherwise get their financial affairs in order then they will do it.

I’m not so sure I share the same optimism as Mr. Neithercut although I consider Equity Residential to be the absolute best PM firm in America.