Apartment Operations
My Take on Reputation Management
Reputation Management = All You Really Need to Know You Learned in Kindergarten:
“These are the things I learned (in Kindergarten) – Robert Fulghum (not an affiliate link)
1. Share everything.
2. Play fair.
3. Don’t hit people.
4. Put things back where you found them.
5. CLEAN UP YOUR OWN MESS.
6. Don’t take things that aren’t yours.
7. Say you’re SORRY when you HURT somebody.
8. Wash your hands before you eat.
9. Flush.
10. Warm cookies and cold milk are good for you.
11. Live a balanced life – learn some and drink some and draw some and paint some and sing and dance and play and work everyday some.
12. Take a nap every afternoon.
13. When you go out into the world, watch out for traffic, hold hands, and stick together.
14. Be aware of wonder. Remember the little seed in the Styrofoam cup: The roots go down and the plant goes up and nobody really knows how or why, but we are all like that.
15. Goldfish and hamster and white mice and even the little seed in the Styrofoam cup – they all die. So do we.
16. And then remember the Dick-and-Jane books and the first word you learned – the biggest word of all – LOOK.”
Boom Done
This seems like price of entry sort of stuff to me.
Can we get on to more compelling stuff in the multifamily space?
Your I’m sorry, please, thank you, excuse me, can I help you with that Multifamily Maniac,
M
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Abolish Leasing Commissions
I am 100% convinced that leasing commissions need to go away.
They are a long survived sacred cow and serve no real purpose in the way of motivating people to lease more apartments or more importantly – serving people.
My solution – pay people a fair wage and tie 10% of that to your companies year over year same store revenue growth or some like kind metric.
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But – The Policy Says
How many of you know this guy/gal?
How many of you work for someone like this?
How many of you are like this?
Don’t be this guy/gal?
Your thinking that decisions should include context Multifamily Manic,
M
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Get Your Email Read
Doing some fall cleaning and thought I would pass on an old but good note on email.
Ideal times to get your email read are between 5a and 7a.
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Multifamily Five Years From Now….
My annual prediction post…of sorts. Just a few quick hitters…
Remembering last year before we look forward to the coming five….
Assume that:
Predictive analytics point people to the perfect Experiential Apartment Community (EAC) for them. One stop shop – if you will. Marketing as we know it – even today – will be rendered uninteresting and borderline useless.
Apartment prices are predicated on twenty times the metrics they are today – think big social data.
Interactive Digital Signage trumps the kiosk and does most of the heavy lifting as it relates to leasing and service after the sale.
People choosing to do business with you do so by telling Siri (or, any equal) what they need and she taps into your community IDS and together these two Digital Experiential Monitors take care of it all.
Personal Experience Agents pick up where the DEMs leave off. If there is anything left to do.
The term social media finally gives way to something deeper and more meaningful.
Business newcomers continue to fragment people’s attention by inventing 300 new variations of review sites, ILS’s and niche communities.
ILS’s, middlemen and other business newcomers stay in better contact with your residents than you do.
ILSs service after the sale.
ILSs create loyalty programs.
Middlemen reinvent themselves such that he comes back with a crushing vengeance.
The Nest finally prices for the masses.
The Internet of things is near saturation.
Smart appliances, mechanics and hardware schedule their own maintenance calls.
Those same appliances, mechanics and hardware, once repaired, follow-up via the preferred method of communication.
They also, order up the part used to repair the problem.
They also, order in bulk for your portfolio assuring you bottom dollar pricing.
Your current apartment related job is either gone or looks 100% different from today.
What then?
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