It’s a changing Multifamily Industry! As this past year has shown us, change happens! To keep everyone safe while we continued to lease apartments, the multifamily business underwent a major overhaul. There was a lot of uncertainty and stress as everyone scrambled to accommodate this new way of life, but guess what? Change is an inevitable part of business, and we must be prepared to roll with it. Here we discuss 5 keys to help navigate the changing landscape of the multifamily industry.
1. Identifying What You Can and Cannot Control – The Realization of Change
First, it’s vital to determine what aspects of a changing environment are beyond your control. For example, when COVID-19 started and a lockdown was issued, that was beyond our control. How you handled your new policies for touring apartments during COVID-19 was in your control. Once you’ve identified what you can control, you can (and should) spend your time focusing on making a game plan. Investigate technology available to you and the people on your team to decide if there are any new or better ways to utilize that technology to meet the challenges you’re facing. Be creative and try to think outside the box as you brainstorm new ways to do old business through this ever-changing environment.
2. Communicating the Buy-In – Your Plan of Action Needs to Be Communicated
This is likely the most important key to utilize to manage a changing environment successfully! Simply creating a plan of action isn’t enough; you must effectively communicate that plan to your team and ensure each person is invested. You may need to spend some extra time or effort in communicating a plan to address change. If you can make it fun, you’ll get them to listen! Look below to download our Positive Pivoting handout for creative ideas that you can use!
In addition to securing approval of your change plan, you’ll need buy-in from those you work with every day. Invite employees to weigh in on decisions that you know are your change champions. GET LEADERSHIP INVOLVED. Otherwise, no matter how well the plan is put together, your plan may fail even with the best intentions.
Also, remember that communication should continue throughout the course of the change – not just at the beginning. Your communication needs to continue until your plan is completed.
3. Understanding How to Use Imaginary Hindsight – Imagine That You’ve Already Succeeded
This key encourages you to visualize your end goal so you can guide your efforts in the most productive direction. Knowing exactly what you want your success to look like will make it easier to stay on task and reach your goal without wasted effort. This “hindsight” process is like working backward! For example: If your ultimate goal is to be 90% leased by a specific date, you already know your “hindsight” goal.
It is important as you plan from end to beginning that goals are set with specific completion dates to stay on task. If you are a dreamer with a fantastic idea, that isn’t enough to make that vision come true.
4. Cultivating the Strength of Persistence – It’s All About Follow-Up
A wonderful idea that is effectively communicated with the end goal visualized will not come to fruition without persistence and follow-up. Follow up with your team to make sure each person meets their individual objectives and offers support where it’s needed. Designate team leaders to help keep everyone on track. You may even create a contest for the highest completion rate between teams. You don’t need to spend your hard-earned funds either. Our Positive Pivoting download has some great, very inexpensive ideas. We’re talking bananas, folks!
5. Celebrating the Victories – Even the Small Ones!
Take the time to celebrate victories, even the tiniest of accomplishments! When a step in the change process is completed, simply acknowledging that completion makes a difference in morale. It can be as simple as a social media post or congratulatory note on the bulletin board. And that difference in morale equals buy-in. And that buy-in leads to getting things done because we all want the same goal!
It’s fun for everyone to celebrate the successes of the team. We have other ideas to celebrate, you guessed it, on our Positive Pivoting Handout. Enjoy!
If you can implement these 5 keys to help navigate the changing landscape of the multifamily industry, you and your team will be able to tackle this changing environment as it comes your way.
NEED CREATIVE IDEAS TO PIVOT POSITIVELY? Download our Positive Pivoting Handout!
Director of Engagement and Communications | Edge2Learn
Director, Training and Customer Experience | Gene B. Glick Company
Edge2Learn is an eLearning company whose focus is the Property Management Industry and specializes in property management training and multifamily education. With almost 40 years of experience and a commitment to increase industry excellence, we are passionate about engaging learners to maximize benefits for both companies and employees. Aligned with a well-respected industry leader, Ellis, Partners in Management Solutions, the Edge2Learn platform provides a turnkey solution for clearly identified needs and opportunities. We prepare learners to deliver a superior customer experience and also reduce corporate liability risks and overall employee turnover.