Solid Source Property Management Reviews 2009 and Looks Ahead to 2010
Some of you who know us personally, know that 2009 was a very challenging year altogether. My husband and I lost several family members and close friends/associates along the way. The rental market was by far the most difficult market I have seen in all my years in the business. We personally had high vacancies and thousands of dollars in rental repairs. Renters have demanded rent reductions and everyone is feeling the pain of a slow economy. We have lost several owners to foreclosure and this has significantly impacted our revenue. To say it has been challenging is an understatement.
On a positive note: On the real estate sales side, we have more than doubled our sales transactions. We have gotten creative and provided value to our customers. On the property management side, we have been able to provide additional value added services like inexpensive gutter cleaning as we forge additional relationships with various vendors. We have increased our marketing to include cutting edge internet advertising sites like Zillow and others to attract clients and tenants alike.
In spite of all the challenges, we have still been able to grow by adding new customers and referrals from our clients.
We have been recognized for our outstanding achievements by being asked to speak at Agent Appreciation Day at the Fox Theater, Ilyce Glinks’ “Profit from Foreclosures” seminar as well as several smaller venues around the city.
So, what have we learned from 2009 so that we can make 2010 a better year?
- Focus on what you want, not on what you don’t want.
- Be open to any possibility. You never know when a great idea will present itself.
- Surround yourself with people you like and trust. They will help you through the tougher times.
- Be flexible. In today’s market, you have to be able to give a little to get a little.
- Think beyond today to what tomorrow may bring. Looking forward will help you make better decisions than just looking at today.
- Work smarter, not harder.
- Put in more effort than your competitor. It will benefit you threefold.
- Be all in and live with no regrets.
Mark and I gave the book – The Traveler’s Gift to all our team members and asked that they read it before midnight tonight. We believe the 7 Decisions for Success that is discussed in that book will make 2010 a great year for us. We can’t change the economy, but we can change how it affects us. You may want to read it yourself.
May 2010 be your best year ever!
Mark & Anne Lackey
Atlanta Housing Source & Solid Source Property Management, Inc.
