In any industry there are trendsetters and then there are followers. Trendsetter or follower… What do you identify yourself as?
How to identify your reliable guides and true trendsetters that produce sustainable above-market returns in the property industry?
Property is a wonderful investment asset class and it is worth spending your time to find reliable guides in organizations and teams, that are able to stay ahead of current trends in the industry, offer current, proven, and established investment opportunities, whilst providing value-added services that ensure your investments produce sustainable above market-related returns.
Time is needed to establish such a trusting relationship.
The trendsetters in the property industry can be identified by establishing if they:
IDENTIFY THE NEEDS IN THE INDUSTRY IN ADVANCE:
Do they have an insight into the future of the property industry, establishing the future needs, preparing and creating solutions to address those needs? Look into the management team and history to determine if they were involved in the previous trend-setting activity
CREATE SUSTAINABLE LASTING SOLUTIONS:
Are the solutions that they create a sustainable win-win for most stakeholders or only a selected few? Any lasting solution needs to have a measurable impact to be sustainable. Organization vision and mission statements will provide you with an insight into why they are in business, but always measure if their actions and results reflect that. Ask for testimonies and referrals for assessment. Greed-driven solutions are not sustainable in the long run.
HAVE AN EXPONENTIAL AND HOLISTIC APPROACH:
Does the organization provide a platform and opportunities for current role players in the industry to participate and increase their effectiveness, instead of having a lone ranger approach? Lean decision-making teams will continue setting the trend should there be new emerging needs and can move quickly to address that need
ADAPT TO THE CHALLENGES THAT COMES WITH TRENDSETTING:
Many people have new trend-setting ideas but as soon as the first hurdle is met, they give up. If the vision, mission, and massive transformative purpose are not true to their heart it may not last. Thus, a good question should always be “what difficulty have you experienced to date to provide these solutions?”. Find out the story behind the story and it will guide you to why they are in business!
EXAMPLES OF TRANSACTIONS THAT WERE A FAILURE AND HOW DID THEY MANAGE IT?
Always ask about the challenging transactions, practical examples, and how it was managed, what solutions were found or what the outcome was. That will provide you with some insight of how your matters will be managed if it becomes a challenge. If they had no challenges to date, rather run because yours may just be the first challenging one and you do not know how they will deal with those difficulties.
The Property Assist team members have been trendsetters in the property industry for more than 25 years. We focus to continually identify new needs in the property industry and turn those opportunities into solutions, within the lifetime of those opportunities, for all property stakeholders including investors.
Get in touch with us today and we can assist you on your journey
