Communication
How Words Shape Multifamily Leadership
This blog is presented by RADCO Residential – A Property Management Service Firm based in Atlanta, GA. RADCO serves Owners and Asset Managers in the Southeast. Now, on to words and how they are used to shape reality.
Rudyard Kipling once mused that words are the most potent drug wielded by humankind. You’re likely acutely aware of this if you navigate the multifamily real estate sphere as a leader. Words aren’t just a means of communication; they are instruments that shape perception, construct realities, and, ultimately, drive decision-making. In a sense, they are the syntax upon which we code our world, particularly in industries like multifamily, where every interaction holds the potential for lasting impact.
Imagine a team member approaching you with concerns about a new applicant tracking platform integration. Your choice of words can distinguish between escalating anxiety or instilling confidence. You could say, “We’re still figuring it out,” or choose to articulate, “We’re fine-tuning our new system to optimize your working experience.” Same situation, different words, worlds apart in impact. Words are your first layer of an interface, and for an industry increasingly intertwining with technology, the role of words as a form of ‘human API’ is paramount.
Not only do words play a pivotal role in shaping external relations, but they also construct the internal culture of your organization. In recent years, the multifamily industry has been abuzz with terms like ‘human-centric leadership.’ The semantic weight of such terminology affects how your team approaches their work and their interactions with residents. Replacing the usual jargon with a more empathetic lexicon transforms the workplace into a more psychologically safe environment. For instance, “optimize resident turnover” may be replaced by “enhance resident moveout experience,” shifting the focus from mere numbers to a more qualitative experience.
Words carry potential energy, poised to release powerful outcomes. For example, renaming ‘conflict resolution’ to ‘harmony creation’ can shift mindsets from reactive to proactive.
This isn’t just armchair speculation; this is backed by the psychological concept of linguistic relativity, which postulates that language shapes thought and perception. Therefore, if you’re in a leadership position within multifamily real estate, a strategic vocabulary is not just a nicety but a necessity.
Technology, particularly artificial intelligence in natural language processing, can also be a game-changer. Semantic analysis tools can help parse resident feedback or online reviews to glean sentiment and actionable insights. Harnessing AI can also help team members craft personalized communication at scale, providing a unique form of verbal leadership that elevates the resident experience.
So, how do you cultivate this as a multifamily leader? Start by auditing your current vocabulary both at an organizational and personal level. Identify terms that could be imbued with more positive or action-oriented meaning. Utilize AI tools to understand your audience better and refine your communications strategy accordingly. Encourage a culture of ‘word mindfulness‘ among your team.
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Virginia Love | Collective Conversations
Release Date: 08.08.2023
In this episode, Mike Brewer sits down with Virginia Love – Industry Principle at Entrata. Virginia is a highly respected expert in the multifamily industry with a long history in multifamily leasing, marketing, and operations. She is a champion of the people in our industry and has a deep understanding of the ways that technology impacts the front-line teams and believes that it is our responsibility to elevate the role our team members play in the success of our industry.
Key Discussion Points:
- Lasting impact of the pandemic: The pandemic shed attention on the importance of the site teams and led to the current focus on them as the drivers of performance and doing what is right for the site teams, recognizing the need to reconsider appropriate wage levels. The pandemic accelerated the pace and adoption of technology and forced companies that were sitting on the sidelines to engage with virtual tours, self-guided tours, and more.
- Culture Matters: Entrata is a technology company that actively engages its customers in the Entrata culture – so much so that they become invested in the Entrata brand.
- Economic Inclusion: For decades, the only impact for residents who paid their rent on time was not incurring late fees and being sent to collections. Entrata offers a program that reports resident payment history to the major consumer credit reporting agencies. Giving renters the ability to build their credit by simply paying their rent is a significant economic empowerment tool.
- The Value of Yes – Advice if you desire to grow your multifamily career: Get involved. Make Yourself Indispensable. Do whatever other people don’t want to. Get active in your Apartment Association, IREM, or NMHC. Take every opportunity to learn and don’t wait for someone to teach you. There are countless ways to build your knowledge so take charge of your education and growth.
In between the non-stop camaraderie and laughter, Mike and Virginia share practical tips and advice based on their extensive knowledge and expertise in the multifamily industry.
Whether you’re a seasoned investor, property manager, vendor/supplier, or someone interested in learning more about the multifamily market, this series offers valuable insights that can help you navigate the challenges and seize the opportunities in this dynamic industry.
About Mike Brewer
Mike Brewer is enthusiastic about people, technology, and the world of multifamily. He serves as President of RADCO Residential and COO of The RADCO Companies. As the Founder of Multifamily Collective, Mike draws on his deep understanding of the multifamily space and is passionate about sharing insights and wisdom through a series of Collective Conversations with others in this industry. This podcast creates a platform for industry professionals to connect, learn, and grow together.
About Virginia Love
Virginia Love, Industry Principal at Entrata is directly involved with marketing, product and sales as a liaison from the multifamily industry to these departments. Before joining Entrata, she held prominent leadership roles for apartment owners and operators such as Trammell Crow and ING Clarion. Immediately prior to coming to Entrata, she was Vice President of Leasing and Marketing for Waterton Residential. With nearly three decades of industry experience, Virginia has served on numerous multifamily committees and boards for industry organizations including the Atlanta Apartment Association, Georgia Apartment Association, National Apartment Association, National Multifamily Housing Council and Zillow Multifamily Advisory Board. Love served as the 2018 Chairperson of the Georgia Apartment Association and the 2011 Chairperson of the Atlanta Apartment Association. Virginia is a National Apartment Association Lyceum graduate. In 2021, she was named a Multifamily Influencer by GlobeSt. Real Estate Forum and was honored by Connect CRE’s Women in Real Estate Awards for 2022. Virginia is also a part of the Apartment All Stars.
Additional Resources:
Some of the world’s largest owners and operators use Entrata’s vast suite of products to manage their entire portfolios using one operating system. Multifamily, Student, Affordable, Military, or Commercial – Entrata has the technology solutions to meet your needs. www.entrata.com
Sponsorship Info:
This episode is sponsored by: Updater
Updater is the app that gets residents move-in ready faster. Did you know that residents who are happy with their move-in experience are 59% more likely to renew their lease? Move-ins matter. Get them right with Updater. Visit go.updater.com/mike, and as a special gift to our listeners, Updater is offering a special gift when you book a demo.
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Disclaimer:
The views and opinions expressed in this podcast are solely those of the individuals involved and do not necessarily reflect the official policy or position of MultifamilyCollective or any other organization mentioned during the episode. The podcast is for informational purposes only and should not be considered professional or legal advice. Always consult a qualified professional or your organizational leadership before making strategic, professional, financial, or investment decisions.
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Exploring the Full Spectrum of Improvisation for Success in Multifamily
Unleashing Creativity and Agility for Operational Excellence
Photo by RhondaK Native Florida Folk Artist on Unsplash
In multifamily management, leaders are confronted with numerous unforeseen challenges daily. Embracing the full spectrum of improvisation could be the game-changer needed to effectively navigate these challenges, optimize operations, and improve resident satisfaction. In this brief space, I want to unpack the potent benefits of improvisation and provide practical strategies for its application in multifamily management.
Despite structured management models and established protocols, multifamily leaders and property teams often encounter situations where no policy or procedure fits. Whether dealing with extraordinary maintenance events, handling delicate resident issues, or navigating team member concerns, these unanticipated situations require a swift, innovative response. Unfortunately, rigid adherence to antiquated procedures can stifle creativity, slow response times, and reduce satisfaction, leading to potential downsides or adversities.
Integrating the spectrum of improvisation into your management approach can offer many benefits. First, it promotes agile thinking, enabling your teams to adapt as new challenges arise and to quickly devise innovative solutions. This flexibility not only reduces downtime but also improves efficiency and productivity.
Secondly, improvisation fosters a problem-solving mindset, encouraging teams to find solutions rather than dwelling on problems. By empowering your team members with the freedom to improvise, you foster a proactive culture where challenges are seen as opportunities for innovation and growth.
Moreover, incorporating improvisation can enhance communication with residents, team members, and business partners. Emphasizing dialogue over rigid processes can lead to a better understanding of resident and team member needs, ultimately improving satisfaction and retention.
Finally, the act of improvising can stimulate continuous learning and improvement. By recognizing each unexpected event as a learning opportunity, you can refine your management strategy, creating a cycle of ongoing advancement.
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Is cutting people off in conversation rude or enthusiastic?
Photo by Christina @ wocintechchat.com on Unsplash
Interrupting someone mid-sentence can be a delicate social situation. While cutting people off in conversation is generally considered impolite, interrupting can also show enthusiasm for the topic.
So which is it?
Is interrupting rude or a sign of engaged conversation?
Interrupting can be a valuable communication tool when done correctly. It can show that you’re actively listening and engaged with the conversation. For example, interjecting with a relevant comment or question can demonstrate your interest and understanding of the topic.
However, interrupting can also come across as rude and dismissive. It can signal that you’re more interested in your thoughts and opinions than hearing the other person’s words.
This can cause the conversation to become one-sided and hinder effective communication.
So, how can you find the right balance? It’s important to be aware of social cues and to listen actively. Wait for a pause or an opportunity to speak, and don’t monopolize the conversation. Additionally, be mindful of the other person’s perspective and considerate of their thoughts and feelings.
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Effective Communication in Multifamily
Photo by Volodymyr Hryshchenko on Unsplash
Effective communication is the cornerstone of a successful workplace, and it’s essential to ensure that all team members are on the same page and working towards the same mission and vision. One key aspect of effective communication is over-communication; let’s explore why it’s so valuable.
First and foremost, over-communication helps to prevent misunderstandings. Miscommunications can occur when information is not communicated clearly or accurately, leading to significant problems, such as missed deadlines, incorrect work, and frustrated employees. By over-communicating, you can help reduce the likelihood of misunderstandings and ensure everyone is on the same page.
Over-communication also helps to build trust and transparency in the workplace. When employees feel that they are being kept in the loop and are aware of what’s happening, they are more likely to trust their leaders and feel more invested in the company’s success. By over-communicating, you can help create a culture of trust and transparency, leading to increased engagement and productivity.
Additionally, over-communication can help to reduce anxiety and stress in the workplace. When employees feel they have all the information they need to do their jobs effectively, they are less likely to feel overwhelmed or stressed. Over-communication can also help to reduce the risk of burnout, as employees are less likely to feel like they are constantly playing catch-up or trying to fill in the gaps in their knowledge.
Finally, over-communication can help to improve the overall work environment. The workplace is more efficient and effective when everyone is on the same page and working towards the same goals. This can lead to increased job satisfaction, higher levels of engagement, and a more positive work environment for everyone.