Rolling with the Recession

It seems in these current tumultuous economic times with unemployment figures up, income levels down and foreclosures looming all over the country, we have to learn to roll with the punches when working in the real estate industry.

As a day-to-day furnished rental property manager, I am learning to be more innovative and flexible in my efforts to drum up business.

An example of “flexing the rule book,” I have begun to allow shorter-term property management contracts. Instead of pushing the 12-month deals, I am offering on-demand contracts. I ask owners to only sign the dotted line when I’ve located a tenant for them. And when they do sign on the dotted line, I’m not requiring the standard 12 months, but instead allowing them to sample my skills in hopes of eliciting a favorable customer reaction.

Another way I have had to be flexible in these tough real estate times is by networking with agents in town and by sharing my list of properties and clients so that everyone can share a piece of the pie. By being open to sharing, I have found more opportunities have come my way and that overall, being generous is the formula for yielding results during tight financial times.

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