Have you ever wondered why some property managers are killing it while others seem to barely scrape by? Is it because they’ve been in the business longer or have a bigger book of business? That’s possible. In reality, however, it’s more likely that these individuals are highly successful because they all share the same common traits. If you’re struggling to keep your head above water and remain competitive in the property management industry, working on the following key areas might help you turn things around.
They focus on relationships, not profits.
Obviously you want to do well and make as much money as possible, but if you’re focusing all of your attention and efforts on this, you’re probably going to continuously fall short. When it comes to business, especially in the digital age, valuing people and building relationships is what will truly set your company apart from the competition. Focus on this and the profits will naturally follow.
They sell benefits, not features.
Sure, you know your property management services are the best. But just touting how great you are isn’t going to win over new business. Those who are truly successful in this industry have found a way to demonstrate the value of what they have to offer. Don’t talk about what you do. Talk about how what you do can solve your clients’ problems. There’s a big difference.
They never give up.
Let’s face it, you’re not going to be successful at converting every single lead that comes across your desk, but that doesn’t mean you shouldn’t try. The most profitable professionals in the property management industry are those who are tenacious, persistent and always willing to put in the extra effort. You may not win them all, but you will win some if you don’t give up.
They know when to zip their lips.
For many, especially those in sales-related roles (as most property managers find themselves to be), knowing when to stop talking and listen can be challenging. The thought of an ensuing awkward silence can be enough to keep us rambling on and on with no end in sight. But keeping quiet from time to time can provide opportunities to better understand objections and more effectively overcome them.
Open and ongoing communication is essential in all aspects of our industry – from starting that initial conversation to following up after that big sales meeting to checking in about that maintenance request from the other day. Great property managers recognize the importance of keeping the lines of communication open and flowing in both directions.
While there’s certainly no magical formula or cookie-cutter solution to being successful in the property management industry, it can be wise to learn about what characteristics and habits those who have already built a name for themselves have common. If you are striving to get better results, perhaps adopting one or all of the above traits should be on your to-do list in the near future.