Why communication is essential to a healthy real estate business?
“It has long been foretold that communication is essential to a great relationship be it a familial, romantic or professional association between landlords and tenants where real estate managers act as a bridge between the both.”
Being a manager of gated community living development, you hugely contribute to both the landlords, tenants and even future buyers as a mediator. While it all sounds easy and stupidly obvious, fluid communication goes a long way when it comes to successful management of a property portfolio. In today’s digital and connected world, we’re blessed with infinite options to establish a healthy communication but it’s surprising that most of the people out there ignore the benefits.
Essential tips for healthy real estate business
Tenants usually take a request to the Dubai Real Estate manager who further communicates it to the landlord. The homeowner then responds to the real estate manager who then again relay this information to the tenants. You may think of it being simple and all too easy but it isn’t that way all the time unfortunately.
Real estate managers all over the world have realised the significance of communication and its role in successful achievements in form of long-term agreements and lower turnover. All of this eventually leads to improved client’s satisfaction and more commission for you.
A 2016’s real estate survey performed in Australia revealed that above 64% respondents’ value clear and healthy communication. The big question is how to focus on improving this particular aspect. Have a look at the details for better understanding.
Timely respond to the landlord & tenants’ requests
Bernie McElwaine; the proud winner of Property Manager of the Year 2015 have this to say:
“A right and professional real estate manager needs being in regular contact when managing property units. It’s necessary of the manager to keep you informed and updated on everything that goes on with the property, rental payments, maintenance and even to the evacuation notice you give to the tenants.”
Whether the request is as insignificant as to fix a leaking faucet or a blocked shower drain, never leave a client hanging in between. Always respond to all the requests ASAP in the most professional manner even if it a possible disagreement over some fact.Likewise, you’d need getting the information back to the homeowners in a quick and smart way.
Manage requests through online platforms
Drowning in an ocean of emails and swimming through the inbox just to find what you’re looking for is a real waste of time and tiresome. And this is true when managing multiple properties for numerous clients or a large-scale gated community living project. It’s obvious there isn’t any other good way to track everything other than the smart technology so make sure you’ve a system, a programme or dedicated real estate software to keep update and organised with everything.
That said, an online property management software is sure to go a long way and having it integrated to the smart technology would give you access from anywhere, anytime. Added bonus is a client portal which enable landlords to login and monitor all activities alongside tasks that require immediate management.
To be a sociable property manager
It’s important and something a tired, packed and stressed property manager usually forget! Irrespective of the stress level or work pressure, don’t make your tenants and landlords feel isolated from open communication. Be open and reach out to them which is also a part of real estate management. Never disregard a genuine and reasonable request else it creates mistrust and hostility amongst everyone involved.
Know your state laws
Like every other business, real estate laws also vary between countries and even from a city to another depending on demographic and geographic factors. It’s thus important for everyone involved in real estate business to know about the codes of conduct and ensure abiding by them to the highest possible standards.
Often, businessly speaking, the major importance of both internal and external communication in terms of profit and maintenance of a prestigious corporate reputation is forgotten and forgotten. There are even specific sectors with the acquired vice of being considered self-sufficient, far from the necessary professionalization of the Communication. Ignoring that Communication is everything: not just a correctly written press release or unpolluted texts on the company’s official website.
Communication is also the wording of the basic principles of the entity and Communication is also the message in the unified speech of the employees when addressing the client. And Communication is the tone of a dialogue and Communication is non-verbal language. But also the corporate color of the company implicitly generates a communicative message. And a sense of brand. To put some examples to boat soon.
While technology bridges the communication gap significantly, it’s irreplaceable to personal or face-to-face talk so be confident, accessible and open.