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10 Things I’ve Learned as a Multifamily Industry Newcomer

10 Things I’ve Learned as a Multifamily Industry Newcomer

10 Things I’ve Learned as a Multifamily Industry Newcomer

As some of you know, I made the switch from the auto industry to multifamily back in November. Over the past few months, I’ve been soaking up everything there is to know about the industry and my newfound passion keeps growing.

 

I wanted to share a few tidbits I’ve picked up along the way, just in case there are any newcomers out there like me (and in case you need a smile or two):

 

#10 - If you are a vendor, you are owned by either RealPage or Yardi.*

(*Exaggeration...kind of.)  

 

#9 - If you can’t find a property manager, call the property across the street.  

 

# 8 - There is a trade show every day of the year somewhere in the country for the multifamily industry. (Frequent flyer clubs, here you come!)

 

# 7 - Everyone loves a good name drop. Any mention of Michael Kors will generally buy you at least 3 minutes in a conversation. (Note: Does not work well with men.)

 

# 6 - I learned this one early: “Business Development” in multifamily means construction, not the folks who manage partner relationships (like it does in technology companies). Trying to sell them leasing and retention software isn’t the best approach.

 

# 5 - When a property management company rep asks, “Do you integrate with my PMS?,” it has nothing to do with that certain time of the month. (The first time I got this question, I thought she was joking...and promptly explained how it might help with cramps. Not my finest moment.)

 

# 4 - If you exhibit at one of the 365 multifamily trade shows mentioned earlier, your first challenge will be coming up with a worthy booth giveaway. Two words: designer handbag. They'll come running (in heels) from aisles away.

 

# 3 - I’ve heard some of the best stories I can’t repeat from leasing agents.  

 

# 2 - Themed parties ARE actually cool!  

 

# 1 - And the No. 1 thing I’ve learned? Not only is this industry bursting with extremely hardworking individuals getting things done—no job description could do you justice—but the way you accept new folks is heartfelt. So many busy people have spent time with me to help me learn the ropes. For that, I can only say THANK YOU.

 

If you can think of a few more, I would love to hear them.  Leave them in the comments below.  

 

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