Nonrelated Businesses Can Still Work Together For The Benefit Of All

By
Property Manager with Investors Choice Property Management CAL BRE LIC# 01124954

My wife and I have a friend that is struggling in her serviced-based profession (sound familiar?). She does nails- manicures and fills mostly, but her business has been dropping off in the past year due to clients tightening their budgets and doing away with some luxury services.

As a Sacramento area property manager, I can relate to this plight. Although we appear to be weathering this economic cycle quite well, still meeting our growth quotas each month, I would be lying if I said I was not concerned over the possibility of our clients deciding that management services are a luxury. While we consider ourselves as vital to the success of our clients' investment properties, our profession is often misunderstood. So much of what we do for our landlord clients goes unnoticed, behind the scenes, invisible.

But I digress- this story is about how we decided to help our friend to help herself. Each week at the local SAR meeting, there is someone giving away a small gift as an incentive to come tour the listing they are pitching. It is almost always a gas card, coffee card or restaurant gift card. That got me to thinking...how often do these gifts generate new leads for the giver?

I decided to try an experiment. You see, most of the women who attend our local SAR meeting get their nails done, and I know from conversations with my wife and business partner that clients often talk at length with their salon person about business and personal issues. These same women are also real estate Agents, Brokers, Realtors, just the kind of people that we would like to get management referrals from.

We are purchasing between $600-1000 in gift certificates good for a free manicure and nails done, and giving these away at our Realtor meetings. Our sincere hope is that we can help to regrow our friend's client base (she really is a wonderful person) while in turn generating some word-of-mouth referrals for both of our businesses.

My questions to fellow real estate professionals is this- when was the last time you ever got referral business from a Starbucks, a restaurant or a gas station? If not, why not try some creative marketing with other serviced-based individuals, even those that have nothing whatsoever to do with your industry?

I am curious to know how this turns out and will report on the experiment's success, or minor success. Because either way we are helping out a friend, failure is not an option nor an outcome.

Investors Choice Property Management (ICPM) manages 100 single-family units with the care and diligence our Landlord clients deserve, in a manner that has them referring their friends, co-workers and family members. With over 16 years professional property management experience, our business is 95% word-of-mouth referral, we do NO Sales, and pay among the highest referral fees in the industry for management accounts. Visit our website at www.investorschoicepm.com today for more details, and find out what we mean when we say:

“Experience Property Management the Way it Should Be.”

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