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This post from Christian Sargent tells a quick story about a residential property management company who didn’t do anything wrong, but still lost a client:
This story is quite the testament to the difference a relationship can make in the property management business. But I want to take it a step further.
It’s not just the relationship that mattered to this owner. They had one with both property managers, but still chose one over the other. Why?
I think it comes down to what relationships can unlock, which is trust. You can’t have trust without a relationship. It’s the precursor. In the end, this owner trusted one property manager more than the other. Not that the one is untrustworthy, but when it comes to high-stakes decisions, you have to go with who you trust the most.
Therefore, what really matters is proving you’re the most trustworthy person for the job, which makes a lot of sense when you think about it.
For many owners, their rental is the largest asset they will ever own, so of course they want those charged with caring for it to be the most trustworthy people they can find. When property managers meet that expectation, they earn loyalty and set themselves up for a long-term partnership. Lenders, realtors, and other agents work with owners for a short, defined period of time. But property managers who prove their trustworthiness may work with an owner for a decade or longer!
Don’t take my word for it
Ray Hespen and Randall Henderson tell their own stories about the power of trust in this PropertyMeld Webinar (starting at the 16:55 mark).
Ray shared how a mechanic’s high-integrity service earned his loyalty. Randall shared that “one of the most valuable contacts” in his phone is his windshield guy because he built credibility by knowing which specific windshield his older Lexus needs.
Both agreed that trustworthiness is what has turned them into repeat customers, and that it’s something all service businesses can use to differentiate themselves.
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