Building relationships
with your investors How do you build a relationship with an investor? You do exactly that... build!
A manager has 101 different roles when running a complex. Sometimes it can feel like you have changed your professional hat a dozen times in one single day - from gardening to pool maintenance - to a professional real estate agent. Days turn into weeks and suddenly you have been running your business for 12 months and still not had a conversation with Betty who owns unit 14. I know 80 percent of you are nodding your head after reading this first paragraph, and that is ok because I am going to give you the nudge you need. The beautiful thing about relationships is that they can begin at any time, it is never too late.
For every (I do not want to say negative) constructive conversation you have, you will be one closer to a commendable one. This is what I want you to do - go to your calendar block out an afternoon, morning, or whatever time of the day you feel your best, and mark it ‘Business Building’ or ‘Relationship Making’ time, whatever resonates with you.
Kelley Rigby, Managing Director, Letts Rebuild
these days. I mean good oldfashioned human to human conversation. Pick up the phone.
Communication is key.
In a world where human interaction predominantly happens behind a keyboard, the power of face to face or voice to voice contact is even more affective. The thought of picking up the phone may make you feel a little uncomfortable, ‘what if my investor gives me negative feedback’ or ‘what if all they do is complain’.
When I say communication, I do not mean an email, or text, like, thumbs up or any of the non-human way we do things
My question is: would you rather they confide in you about their issues or Britney from Big Shot Real Estate?
and mine, fiddle with our data then snafu it to their mammoth computers, play the numbers game and sell all that information to the highest bidder. Not only that, but data manipulation, particularly since now it is big data mined from billions of phones, can produce answers in many different formats to suit many different uses by goodness only knows who.
NPR (National Public Radio) alerted me to something that really concerns me.
Besides the obvious data we all store on our phones we also store fingerprints, passwords, photographs and images of our ourselves. Face recognition has been bandied about for quite a while but today it is also one of the methods used to unlock and gain access to our phones. The image used for this is actually in true data format. Like all good story tellers, I have left the crunch to my story last. A report on Americas’ ResortNews | November 2020
It appears that a system called ‘predictive policing’ is in use in several states. The scheme used by these police forces relies on some AI software which uses big data to analyze criminal behaviour. That is not surprising nor alarming but what raised my concern is that the system goes quite a way further. Through data analysis, the police are provided with predictions that a certain person may or will commit a crime. Apparently, the police are empowered to restrain and interrogate that person without any notice, warrant or other identifiable reason. My understanding was that the American legal system upheld the same Westminster principles that we do: a person is presumed to be innocent
Then, repeat this appointment every three to six months so you are committed to making the phone calls. Always find a place you feel comfortable and confident, it could be your home, office or even the park. It is important for you to feel relaxed and confident as this will project from your voice. Take the time to communicate with your clients. A wise man once told me: prior preparation prevents poor performance!
Getting to know your client. During your scheduled non-negotiable 3-6-month conversations, ensure you are armed with a pen and paper ready to document
until proven guilty! Predictive policing appears to adopt the reverse of this by effectively demanding the suspect prove his innocence which then obviously raises questions of democratic governance. The underlying problem, however, is the internet and social media platforms. In combination, they provide the means by which every lamebrain or psychotic can communicate with every other one in the world thereby creating a data set which cannot in reality be simply recognised by our algorithmic devices; here is the start of misleading, if not totally false, information broadly called fake news! I do not think pictures are needed to detail the enormous and possibly irreparable damage this can and does do globally. However, we must not lose sight of the fact that the algorithm
MANAGEMENT
facts about your clients. Another wise man once told me: you have two ears and only 1 mouth for a reason. Listen and take notes. Think about this: Betty from unit 14 has a four-legged friend that is her pride and joy (let’s call him Fluffy) during your scheduled non-negotiable three to six-month conversation she mentions that Fluffy is having surgery on December 16. Armed with a pen and paper you document this fact and then on December 16 you call or email Betty (or if it was me , send flowers and a card) to wish Fluffy all the best for his surgery. We do this for many reasons, first and foremost we do it to make Betty feel good on a hard day, we also do it because next time Britney from Big Shot Real Estate calls and tries to win over Betty’s business, I promise you Betty will think twice about leaving the property manager that she now calls her friends. It is time to get comfortable with the uncomfortable and start building and nurturing some of the most financially beneficial relationships in your business. You are the expert in your field, be confident and know you are the best agent to service your investors.
that allows the chess champion to be defeated also analyses big data sets of CAT and MRI scans to allow that brain surgery to succeed. It provides the means by which physicians can obtain better treatment guidance and evaluate the prognosis of their patients. The same can be said for finding the ‘baddie’ in the crowd or predicting your future health thereby hopefully avoiding undesired outcomes for you. Google will find you volumes on these topics but you will have to rely on YI ( your intelligence) to solve these dilemmas which confront us. As to your mobile phones just be sure to check all the permission settings that your apps use. If they to use features which you think are unnecessary, please uninstall that app.
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