What makes a company good? We have many different metrics that define our standards of service. When we work with a company, whether in a short-term engagement (like purchasing a product or dealing with their customer service representatives) or in the long-term (like buying a subscription service or partnering in a long-term arrangement), there are certain expectations that we have. Certain ways we desire to be treated.
If those expectations aren’t met, we’re not satisfied. Something has gone awry.
In the world of turnkey real estate, no one knows the expectations of the business better than we do. We know that lasting success—for our clients and for ourselves—isn’t just about making a good first impression. It’s all in the follow-through.
How Should a Turnkey Real Estate Provider Follow-Through?
Regular, detailed check-ins.
It’s crucial that your turnkey provider makes a point to provide their clients with regular, detailed updates on the status of their investment properties. As a passive real estate investor, you aren’t involved in the day-to-day. That doesn’t mean you can afford to not know what’s going on! It’s so vital that you’re aware of things: evictions, repairs, tenant issues, and even just that things are going perfectly fine. If anything, it feels good to know that something happened and your provider was able to handle it without any issues or having to stress you at all!
Check-ins mean there are no surprises. It means you know exactly the condition of your investments. You can be truly engaged with what’s going on while still being a passive investor. And that’s precisely what you want.
Guidance when you need it.
The best turnkey real estate providers don’t just give you a little update at the end of the month and leave it at that. They also do their very best to ensure that you are reaching the goals you’ve set for yourself. Considering most passive real estate investors aren’t the most experienced when it comes to investing in real estate, your turnkey provider should step up and help you navigate the ins-and-outs when things get confusing. If you need help deciding where to go, how to finance, who to finance with, or what your strategy for growing your portfolio should be, they should be there to provide that guidance.
Follow-through is more than just reporting in on the properties you already own. It’s partnering with you for long-term success!
Why Does Follow-Through Matter So Much in Real Estate Investment?
It gives you peace of mind.
As human beings, one of our greatest fears is the unknown. We don’t do well when we don’t know what’s going on around us. And where real estate investment is involved, it can be anxiety-provoking to not know what’s happening with something as valuable as an investment. When you have an attentive and detailed-oriented turnkey real estate provider, it gives you a peace of mind to not only be informed but to have access to knowledge. When the process is demystified and available to you, it’s far less intimidating. Comfort grows, and so does security.
It legitimizes your partnership.
The unfortunate reality of just about every business is that there are people out there who will take advantage of people. It’s no different in the business of real estate. There are so-called turnkey companies out there who do not provide legitimate services, looking to fleece innocent investors of their hard-earned money.
One of the big red flags is a lack of communication, details, and follow-through. One of the ways you know that your partnership with a turnkey provider is real is their follow-through: consistent, detailed updates, dedication to your growth, and open, honest communication.
It deepens your relationship.
Unlike most business transactions, the relationship between investor and provider is a long-term one. It truly is a relationship: one that grows over months and years. Communication and follow-through aren't just valuable, they are the heartbeat that keeps the relationship alive! For us, we know that this is the way that we grow with our clients, growing closer and closer in sync with them so that we best can meet their needs, anticipate their goals, and improve our services to create the best experience possible.
For us, follow-through is essential because it is what makes the relationship work so well.