This should be on your mind every day. Why? Because real estate is an industry that can make or break you! As real estate professionals we are the ultimate in multi-tasking. We know that anyone can become a real estate professional, but the ones that truly standout are the ones that manage their building. Not the other way around.
There can be constant interruptions and challenges throughout any given day. The day starts out fine until you get a call about a flooded property, or an unexpected customer complaint. Now you need to drop what you are doing and attend to the crisis at hand.
As you begin to tackle this new challenge, it is best to keep reminding yourself that you manage the building, the building does not manage you! When the flood hits, do you have a contingency plan? Why is the customer complaining? The number one solution is to be proactive. Do all you can to prevent these issues from happening again. Manage it and do not just react to it!
When an issue arises, it must be broken down into small steps in order to find the reason or cause. Once it has been solved, it is time to develop a new approach or plan so that it can be prevented in the future. This can be as simple as more training in a specific topic. The solution needs to be developed, implemented, and then monitored. If a solution is developed but it is never put into action, or if it is put into place but no one follows up on it to make sure it is being implemented correctly, it will do no good and create more headaches for you later on down the line.
The point of managing is to anticipate and not wait for matters to arise. The entire premise of good management is to think about “What If” and anticipate everything. Constantly ask, “What is the worst thing that can happen?” or “What if this happens?” Then consider another important question “How should I prevent it or react if it does happen?” If you are prepared, it is no longer a crisis or interruption. Remember, the goal is to manage your property, not for the property to manage you!
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