‘Are you a problem client?’: Building good relationships with property professionals
Smart property investors know that establishing good relationships with property professionals is an important part of a good investment journey, and getting to know the best professionals in the vast industry means having to learn how to be the best client.
Many investors often hesitate to reach out to their financial team for fear of being tagged as the “annoying client”.
However, according to MJ Anthony, his being proactive has made him a well-loved client among property professionals throughout his 13-year investment journey, where he was able to successfully build a portfolio worth more than $2 million.
“If I was really demanding and really aggressive and arrogant, then [I will be a problem client], but no. It's very, very pleasant. I keep them in check, and they love me,” he said.
Striking a balance between being proactive and being a “nuisance client” is a people skill that property investors must learn to maintain good relationships with reliable property professionals, Smart Property Investment’s Phil Tarrant said.
As much as you want to get good-quality services from them, you also need to be aware of the limitations of their capabilities as professionals.
“You often hear people firing property managers because they're not up to par. I know a couple of people who get their property management agreement… and they go, "You've got one day's notice. I'm telling you—you've got one day [or] you're out,’ ” MJ said.
“But you don't really think about the other way [or viewpoint] of the property manager going, ‘No, you're actually a horrible client. We don't want to work with you anymore. [We will] cut the strings,’ ” the property investor added.
Rather than being too demanding, both Phil and MJ encourage their fellow property investors to remain involved in growing their portfolios by asking questions and understanding the processes involved as best as they can.
Initiate conversation, make sure you give them the information they need and that you understand each other's needs, and you’re basically going in the right direction, MJ said. After all, being tagged as the “horrible client” will never help anyone along the way, especially in an industry where news travels fast.
“Reputation goes around… so you want [to] be a good client to have… [otherwise], you're not going to get the service. People go over and above for people that they like,” Phil concluded.
Tune in to MJ Anthony’s bonus episode on The Smart Property Investment Show to know the essential things to observe when appointing a new property manager and how to find and keep the perfect property manager.
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