From Modest to Multitude
Written by Dave Grodzicki, Property Management Director
A modest opportunity recently came our way. The small property with national tenants was near the office and was 100% leased. The fee was modest. However, a potential sale was looming and the short term assignment offered a chance to get in tight with current owners and potentially the new owners. The key: provide excellent communication and exceptional service.
We did just that as the business relationship developed and grew stronger. The out-of-state owners came to rely on us for much more than originally thought. A simple bi-monthly inspection quickly became a myriad of quick-acting responses to the property owner's needs. We were also able to reduce operating expenses yielding a higher sales price for the owner.
Eventually, the property was under contract by a nationally recognized real estate firm and the goal was to cultivate the new relationship while building upon the first. Hence, a “two-fer.”
That specific sale never came to fruition. However, the relationship with Ownership further blossomed and a sale eventually transpired. The former owner sent the new owner a highly praised letter of recommendation for Mid-America.
We successfully retained the management account. What was once a modest account turned into full management and accounting services. Not only was there an increase in service, but we were also able to cultivate both relationships. The new owner has indicated their intentions of future purchases of NNN properties (helping with brokerage and management) and the prior owner holds a certain level of trust and wouldn’t hesitate to contact us for any future management and brokerage needs.
At the end of the day this little modest account, which we originally questioned whether is was worthwhile to take on, became a multitude of opportunity. All we had to do was to implement what we should already be doing for every single property owner: provide excellent communication and exceptional service. It can come back two-fold and just like a box of chocolates, “You never know what you’re gonna get.
Dave Grodzicki, CPM RPA | Property Management Director
Mid-America Real Estate - Michigan, Inc.
38500 Woodward Avenue, Suite 100 | Bloomfield Hills, MI 48304
Direct: 248.385.5009 | Fax: 248.385.5033
firstname.lastname@example.org | www.midamericagrp.com