Imagine you’re at a restaurant. You shell out your hard-earned money not just for a meal – but an experience. After all, would you return to a place that served an excellent meal with poor service? Likely not. And many of us would more easily forgive a mistake or a fine – but not exceptional – dinner if it came with attentive, personable service.
Now, investing isn’t exactly like eating dinner. But it’s not as different as you might think! Because here’s the truth: when you’re a passive real estate investor, you are the client in a people business. You will work with turnkey partners, property management, and any number of professionals to help achieve the financial future you desire.
Not only will you work with these people – you will ideally be together for a mutually beneficial, long-term arrangement. And because of that, your experience matters. The relationships you form matter.
If something as short as a restaurant experience matters, why should your investment experience be any less important? Why settle for anything less than the best? Maybe you’re not convinced yet. Perhaps you think the ends justify the means – how you feel about the people doesn’t really matter if the job gets done right.
Here’s why that’s just not true.
Long-term relationships are built on trust, nurtured through consistent positive experiences. If your needs are met reliably, you’re more likely to continue that partnership. As a passive real estate investor, your career could last decades…maybe even the rest of your life! Ideally, you’ll establish trust and excellent working relationships with professionals, and you won’t have to switch providers. Because that trust is there, you can work together more seamlessly.
Did you know some of our investors allow us to make portfolio decisions for them? That’s because we’ve earned their trust!
A company that prioritizes your experience demonstrates that it values your input and aligns with your objectives. This ensures the relationship is mutually beneficial, especially as you grow together. Part of the trust you give to a company comes when they repeatedly prove that they value the same things you do. You don’t want a partner in it for themselves – you want someone who will invest in your success!
A positive client experience fosters open and effective communication. In some ways, this is a chicken and egg situation because excellent communication is a cornerstone of an outstanding client experience. However, not everyone wants to communicate in the same way. As you work together, the company becomes more attuned to your preferences, enabling smoother and more personalized interactions.
Passive investors rely on a reliable back-and-forth with advisors and their property managers.
Further Reading: What Property Managers Do (And Don’t Do) for Investors
In a long-term relationship, challenges are inevitable. A company focused on your experience will proactively address issues, adapt solutions to your unique circumstances, and truly value your satisfaction. Companies that aren’t client-focused may be more inclined to do “damage control” rather than make things right for you.
When your experience is a priority, the company continually works to elevate its services for your benefit. They innovate, improve, and expand to meet your evolving needs. This ensures that the value of the relationship remains high over time, which benefits you both. As any real estate investor will tell you, retaining great clients is more profitable than sourcing new ones.
A positive experience fosters loyalty and emotional connection. Let’s be honest here – we’re in a people business from top to bottom! Feeling valued and supported makes you more likely to stay engaged, benefiting everyone involved: you, the investor, the turnkey company, the property managers, and your rental residents.
In long-term relationships, your experience provides crucial feedback for the company. A company that listens and improves based on your input demonstrates its commitment to the partnership. Not only does this reinforce their dedication to you, but it should iron out existing issues while mitigating future risks.
By prioritizing your experience, your professional partners ensure a sustainable, growth-oriented relationship that adapts to your evolving needs and challenges. Ultimately, that makes a thriving, dynamic partnership that brings in the right results for everyone.
So, at the end of the day? Investors, value the experience you have with professionals in this industry. Your financial future will thank you.
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