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Articles
by Steven Sessions
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Obituary
Networking
By Steven
Sessions
Sessions Group LLC
All together now,
finish this sentence: "It isn’t what your know, it’s..."
Who
has not been to a funeral service in which a priest is called upon to
eulogize a man or woman he or she has never known, the effect of which can
be relied upon to come off as successful as a fat guy trying to break a
sweat at the DAC...who is no longer a member!
A few years ago I attended a memorial service for an
acquaintance that had badly flubbed his life. Alcoholism, way too much
golf and a proclivity towards the opposite sex brought him too many sad
indignities and a fatal heart attack at fifty on the 17t h hole. I thought
the priest who conducted the service was wise in scarcely speaking of the
man, whom he didn’t know-the service was held at the request of the man’s
mother, who was a member of the church-and instead emphasized the
mercifulness of death.
At another memorial service, this one for a man I knew
rather better, three speakers arose to quote various great authors on the
dead man’s behalf, and all three praised him for his sense of humor.
However, you needed to be an archaeologist and really dig to get at the
jokes they shared, which, when one did get it, turned out to be not very
good. The service-and our memory of the dead man-was only saved when a
fourth speaker, one of the man’s sons, arose to talk about what a good
father he was.
Recently, the CEO of a large private company died and
the memorial service was packed, standing room only. What was even more
interesting was the long line of employees walking by the open casket. I
had expected to see a lot of Kleenex and much mourning. To my utter
surprise, there was not a moist eye in the room. They weren’t there to
mourn or pay their respects, but to be assured... to the last person, that
the CEO was stone cold dead!!! One woman even removed a compact mirror
from her purse and held it under the corpses nose...it seemed for at least
3 minutes! She only moved on…only…when absolutely assured there was
not a trace of fog.
Skill at the obituarist’s art...also known as networking
is rare anywhere, but seems at an especially low ebb in Denver, Colorado.
I cannot remember having read a single obituary in the Rocky Mountain
News that I consider close to dying for.
Now I don’t want to frighten anyone unduly, but it
seems rather clear to me that the last hour is the key hour...when
it comes to networking! That is the hour that judges all of the
other hours. No one can tell whether or not his or her life has been
successful until their last hour. As Sophocles said, "We must wait
till evening to know how pleasant the day has been." Thus, it
seems to me, to be a very helpful procedure to spend a little time pre
living our funeral. That is, what kind of person would you like to be when
the last hour of your life arrives? What do you want your children,
spouse, friends and associates to share at your funeral? What inscription
would you have written on your tombstone--- "Gone to another
meeting"; "Why me; why now"; "I told you I was
sick"; "You know what I said about seeing a light when you die?
That ain't true. I can't see a thing"; or my least favorite... the
last words of Faust before he died: "Faustus is gone to hell!"
Now if Faust had lived his last hour first, he never would have permitted
himself to come to this unprofitable place. My very favorite, "Safely
home, at last!"
So, It is a serious mistake to forget for a moment, as
they say in Vegas, "you can’t hope to beat the House!"
It really is quite humorous to really think that the current diet fads,
flossing, trainers, cosmetic surgeons can do a lot to really change
things, to somehow cheat the Dealer. No matter
the King’s trainer ‘s nor the King’s cosmetic surgeons can put any
of us back together again...for very long!
All things considered, and speaking as
a true property manager, even though my body is long out of warranty, with
a lot of mileage on it, replacement parts, almost impossible to obtain,
and trade-ins currently not available...I have come to terms that no
matter what one’s station in life, or what one’s wealth or natural
endowments, or whom one knows, the Lifeguard’s whistle will blow
and it’s everybody out of the pool, and that includes you
and me!
And so...Obituary Networking, what seems a
small or mildly amusing subject, when opened up and looked at from a last
hour perspective, may be larger and more intricate than anyone had
expected.
As for me, I have now focused and narrowed my networking
activities on successfully and truly making a difference in the lives of
those who matter most to me...and answering the following questions...that
I have a real hunch may be asked of me as I exit the pool: (1) Were
you honest in all your dealings? (2) How was your relationship with
Debbie? Did you love her with all your heart and mind? (3) How is
your relationship with your children...and now
grandchildren...individually? Did you try and make them happy? (4)
Did you magnify your talents and abilities to the betterment of mankind?
And finally, (5) did you provide meaningful service to others?
What a thrilling experience that we may truly network
and live well, enabling us to die well!
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What
Does a Property Manager Spend Time Doing?
By Steven
S. Sessions, RPA
Most
property management companies claim that their existing tenants represent
their most important asset in their real estate portfolio.
However, when one examines their behavior,
one finds that the vast majority of a property manager’s time is
allocated to reviewing financial reports, reporting upward, attending
internal company meetings, firefighting employee issues within their own
offices (internal politics), computer and telecom problems, and reviewing
leases and vendor service issues—rather than spending quality time
with their existing tenants! Simply put, property management companies
say they believe in one thing, but appear to be doing another. What’s
going on here?
First and foremost, property managers need time,
precious time, to meet with their tenants on a regular basis. Market
research indicates, "We know a lot less about our tenants than we
think we do." When property managers spend time with their tenants, they
discover many things, including: their real and often unstated
concerns and needs; their financial viability and soundness; changes in
the organization; and information regarding their future space needs and
occupancy.
Property owners should not find out
news about their tenants from reading the newspaper, but should have been
advised by the property manager in advance. I once knew a property manager
who lost his job the day an owner came into town and wanted to tour his
properties. The problem arose when the property manager had to get a map
out to find a couple of the properties! That is similar to an experience I
had when I first got into this business and toured the vacancies of a
high-rise building with an owner. I mistakenly assumed that the on-site
manager and staff had inspected every floor and vacancy prior to the owner’s
tour. What a poor and costly assumption!
I no longer make any assumptions as it
relates to vacancies and inspections by others. I want to see with
my own two eyes. I had not the slightest idea what was behind the many,
many, many doors on each of the 32 floors! If I had a parachute, I would
have jumped out of the 23rd floor. It was horrible. Each door
we came to, I felt like I was a contestant on Let’s Make A Deal.
I had not the slightest idea what was behind each door. That day I felt
that I literally came to the show (work) as one of the Three Stooges!
Since then, like Monty Hall, I now know
what is behind every door in every building in my portfolio, having spent
extra time and care with the vacancies. It has made all the difference in
the world to my peace and happiness in this fascinating business known as
property management. As property managers, we must take pride of ownership
in our buildings and ensure that our vacancies are white-boxed, and in
great show-able condition. First impressions with a prospective tenant are
lasting. There are no dress rehearsals in today’s marketplace!
Property managers also can demonstrate
their respect for their tenants by carefully listening to their concerns
and working diligently to solve the tenants’ problems. We all know what
it’s like to request service and not receive service. To ensure tenant
satisfaction, solve their problems with a positive attitude! Our tenants
must not only be "satisfied" with our firm’s services,
but also "super-pleased." We must demonstrate by our
words and actions that we are happy to provide them first-class service.
That is what our tenants are paying for and that is what they deserve. Isn’t
that how great tenant relationships are built?
If property management companies want the
substantial benefits that flow from developing existing tenant
relationships, they can have them. But they won’t occur automatically.
They must be explicitly managed!
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The
‘6 Bs’ of Property Management
By Steven Sessions, RPA
Sessions Group LLC
September 2002
We are so fortunate to work in
the real estate industry at a time when there are so many opportunities
and challenges. Never have there been so many opportunities to increase
our knowledge, improve our talents and abilities, and truly make a
difference with our tenants, our properties and our communities.
Conversely, the challenges we face today
are real, complex, and even frightful. The present business environment
remains very tough with corporate misdeeds, reduced earnings, and
downsizing/bankruptcies hanging over us like a dark cloud. There seems to
be a steady erosion of the moral and ethical underpinnings of our society.
How bad have things gotten in America? The Joseph son Institute of Ethics
reports, "Nearly half of all high school students steal. Seven in 10
admit to cheating on tests, and 92 percent said they lie." Sadly,
they have been taught ever so well by their parents, schools, politicians
and corporate America. It feels as if we are wading through a swamp of
distortion, diversion, and deception. But, we should not despair, as, for
the most part, these problems can be easily handled because they largely
involve behavioral decisions that can be made and followed. That is the
key!
I have"6 Bs," scrawled on a
Post-it stuck to my computer screen, which defines what traits I am
looking for in people who work with me. I will address each of them and
their implications because, as we conduct ourselves in the world of
property management, these are the traits that make a successful, valuable
person in business today. Believe me, these traits are what every owner,
tenant, vendor, contractor and fellow employee wishes to see in a property
manager. So here are my "6 Bs" for property managers that if
followed can and will make all the difference in the world:
Be
honest. In all our dealings,
we must be honest with ourselves and with others. Remember, "It
takes 20 years to build a reputation, and five minutes to ruin
it." We must never lie under any circumstance. In the next
years of our lives we are going to mess something up. We all do.
Here is what we should do. Admit it and move on. Do not lie. Do not
hide anything. There will be people who will want you not to tell
the truth at work. There will be people who you will see who will
get ahead from lying. These people are wrong and they will be
discovered. A liar is always caught in the business world. When
liars are exposed they are finished. Trust is everything, just
everything. We will never get tangled if we apply this one test:
"Do nothing that would make you or your family unhappy if your
statement or act was put on the front of the Rocky Mountain
News!"
Be
teachable. We are in the most
competitive age the world has ever known. We need all the education
we can get. We cannot bluff or cheat each other without bluffing and
cheating ourselves. Take no shortcuts. Individual development
requires much effort and sacrifice. We need to pursue our education
through self-discipline and planning. No matter how old we become,
we can acquire knowledge and use it. Each of us, regardless of our
constraints and circumstances, can find a way to study and grow. Too
much time is being wasted o mindless drivel that inhabits TV, sports
and videos, when our lives could be dramatically enriched through
learning. Education also makes a much more interesting person!
Be
aware.
Be aware of your surroundings. Have an eye for change and the
ability to adapt accordingly. Look for things that are not right.
Remember, things that go wrong are predictable, and if they are
predictable, they are preventable! See with your own eyes and hear
with your own years. Get belly-to-belly with your tenants and
vendors and listen to understand. Property managers need to come
down off the mountain as frequently as possible. We should not be
wed to our swivel chairs. We need to be active-personally involved
in the front lines, personally monitoring our properties, and taking
every opportunity to listen to the heartbeats of our tenants and
vendors. Further, this "B" readily applies to security
measures, collections and every other facet of property
management.
Be
of service. There are opportunities for individual service all
around us. Frequently we are engaged in various committee or group
service projects, which are surely needed and commendable, when
quiet, personal service is also urgently needed. A kind greeting, a
smile, a little boost or charge of encouragement adds momentum to
those we affiliate with. It has been said, "next to physical
survival, the greatest need of a human being is psychological
survival—to be understood, to be affirmed, to be validated, to be
appreciated."
Be
tenacious. Adversity and
rejection are just part of life. It is par for the course! It really
is what life is all about. The key is how you handle these difficult
situations. What does tenacity really mean? Go to the Tattered Cover
and buy Endurance by Lansing. This is the memoir of the great Ernest
Shackleton who triumphed over the most unbelievable set of
circumstances in a battle to get his crew from one end of the
Antarctica to the other in 1915. Whenever I find the rejection
around me overwhelming, I reread this book and remind myself that my
trials are nothing, just nothing. As Thomas Pynchon V said,
"You wait. Everyone has an Antarctica!"
Be
nice. Unfortunately, there is a tendency with a few—and only a
few property managers that when they get a little authority and
power, as they suppose, they abuse it. They become authoritative,
condescending and downright mean- spirited. "Perhaps such
littleness is like litter on an otherwise lovely lawn; we must not
be judgmental, of course, but we cannot help noticing. Come to think
of it, maybe we should all look first to our own lawns."
And that about wraps it up! Any of
these traits can help us, but we need all six to truly succeed. This
coalition of traits will make us unstoppable in the world we are going
into. Without them, we will go nowhere.
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