the tough 10: real estate management client situations requiring intervention
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Real estate management is a service business and having good client relationships is essential. But different personalities, values, communication styles, and expectations affect satisfaction for both sides of the table. There is such a thing as a bad client. Here is a brief look at the Tough 10!TRANSCRIPT
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The Tough 10Real Estate Management Client Situations Requiring InterventionReal estate management is a service business and having good client relationships is essential. But different personalities, values, communication styles, and expectations affect satisfaction for both sides of the table. There is such a thing as a bad client. Here is a brief look at the Tough Ten!
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The Time Thief takes up time better spent elsewhere (e.g., due to a need for inordinate information, the desire to socialize or not honoring work hours).
1.
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2.
The Payment Procrastinator is late-paying, or worse, non-paying–and may even be in financial trouble.
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The Miser hunts for bargains, wanting services at a reduced rate or gratis. One type regularly asks for extras, trying to take advantage of you. Another type won’t spend needed money on the property.
3.
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The Bully can be demanding, rude, argumentative or disrespectful. This client deflates egos, creates stress, causes self-doubt and hurts morale. Ultimately, this can cost you employees.
4.
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5.
The Blamer uses hurtful, unproductive, criticism. For instance, when the property isn’t performing as the client desires, management is to blame. Blame tears people down.
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6.
The Loser refers to the account—not the person—and is the low- or no- profit account. Loss leaders should lead only, not make up the masses.
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7.
The Maven gives you the gift of advice. Actively involved is different than controlling, and this client tries to control. Eventually, you’re virtually made incompetent. If there is a problem later, who will be held responsible?
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8.
The Indecisive changes direction often, with goals as moving targets. Approvals may be late or not given—an indication of client efficiency problems. This leads to yo-yo management or ineffective paralysis.
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9.
The Insatiable Complainer expects and demands special treatment and impossible results. Ask yourself: Are you being reimbursed for the time this takes? Is accommodating this client causing distress that hurts performance?
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10.
The Unlawful holds no allegiance to landlord-tenant laws, building codes, Fair Housing laws, labor laws, contracts or the IREM Code of Ethics. It’s a major danger zone: A client may not last forever, but a reputation does.
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Visit www.irem.org for more real estate management information and resources.
The Tough 10 is excerpted from “Client Shades of Grey: How to Reduce the Pain or Break the Bonds” by Natalie Brecher, CPM®, Brecher Associates.
JPM®, Journal of Property ManagementJuly/August 2014Volume 79, Number 4