29th January 2017 - The Role of Positive Sentiment in Real Estate
I've seen it time and time again over a period of time.. Positive, responsible and virtuous people make for positive effects on real estate. Whether it's residential or commercial properties, landlords and tenants put themselves in stronger positions in the market and create reputations for properties over time with a positive sentiment.
There is a difference between ego and self-esteem with the latter quality going miles as also does humility. And I say this for all walks of life beyond real estate. Self-esteem and humility go hand in hand. There's a taking in of information and a simultaneous give-out. It's only natural.
Coming back to the point, I've seen how residential complex owners have literally created a strong brand image of their complexes, attracted the right crowd, held firm capital and rental rates and more-over created for a happy atmosphere in their complexes. Infact, micro-markets are that very product of positive real estate sentiment with a higher holding power and being insulated somewhat from recessionary trends and depletion in capital values.
As far as developers go, it's the ones that have strived to think of customer delight and improve quality levels that have done well. Positive value propositions attract the right kind of customers.
The same positive spirit goes for brokers as well. Those who offer the qualities of reliability, professionalism, and correct advice besides competency are the ones who do well in the long term. They're out not just to do that immediate deal but create a reputation in the long run.
At the end of the day, everybody want's to deal with someone's that basically a positive person. Negotiations are part and parcel of the game, but sensibility and doing what one ought to do goes a long way. I've seen residential landlords who genuinely care about maintaining a good experience for tenants, have the least of hassles. Yes, you do get extra finicky tenants at times as well, but that's part and parcel of the game. More or less, you end up having good experiences with tenants – 7 to 8 out of 10. I'm sure office space landlords will also agree.
In this day and age of commercial interests I thought I'd highlight the value of positivity.. Just something to think about.. have a good day ahead!!
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