Oct 1, 2023

As a commercial or retail property manager, you understand that your role is to provide exceptional client service and deliver unique recommendations and strategies to improve your property investments' performance.

So why would a client or property owner use you to manage their properties today? Your answer has to be specific and market-relevant. Not all property managers are the same, and you should not be.

But how do you stand out from the crowd and gain a competitive advantage in a constantly changing and challenging market?

Focus Facts for Property Managers

Here are some tips to help you achieve your goals and become a trusted advisor to your clients.

• Understand your market. To provide effective advice and solutions, you must have a thorough understanding of the market conditions, trends, opportunities, and threats that affect your properties and clients. To stay up to date on the latest developments and best practises in your industry, you should conduct market research, analysis, and benchmarking on a regular basis.
• Get to know your customers. You must understand your clients' needs, expectations, goals, and preferences in order to develop long-term relationships with them. You should communicate with them frequently, listen to their feedback, understand their problems, and provide tailored solutions that are tailored to their specific circumstances and goals.
• Understand your properties. To manage your properties efficiently and effectively, you must be familiar with all aspects of them, including their physical condition, maintenance, leasing, tenant relations, financial performance, compliance, risk management, and so on. You should conduct regular inspections, audits, reports, and reviews to ensure that your properties are in good condition and aligned with the goals of your clients.
• Understand your value proposition. To set yourself apart from the competition, you must have a clear and compelling value proposition that highlights your unique skills, experience, expertise, and accomplishments. You should emphasise how you can add value to your clients' property investments by increasing occupancy, lowering costs, improving tenant satisfaction, increasing asset value, and generating higher returns, among other things.
• Understand your network. You need a strong and diverse network of contacts and partners to support you in your property management activities if you want to expand your opportunities and leverage your resources. Relationships with industry associations, peers, mentors, suppliers, contractors, consultants, brokers, lenders, investors, and other stakeholders who can provide you with insights, referrals, leads, assistance, and collaboration should be nurtured.

By implementing these suggestions, you can gain a competitive advantage in commercial and retail property management and establish yourself as a valuable partner to your clients. You can also demonstrate your market professionalism, credibility, and reputation, attracting more business opportunities.