• Ep.488: Unlocking Real Estate Success: A Deep Dive into Property Development and Team Dynamics with Vez Meas

  • Sep 7 2023
  • Duración: 12 m
  • Podcast

Ep.488: Unlocking Real Estate Success: A Deep Dive into Property Development and Team Dynamics with Vez Meas

  • Resumen

  • Sean: What are some of the things that you do in order for you to still be able to make sure that you have a good occupancy for renters in your units available? Vez: We focus on the service. You know, when we opened 2014, there weren't many condominiums out there, but you go look at it now, it's surrounded by them. So, it's kind of like gas station days. I said my family owned gas stations. And here in the States, you go to an intersection, you get four gas stations in one intersection. So you're going to think gas is gas, right? In the convenience store, a can of Coke is a can of Coke, a bag of chips, a bag of chips. And, you know, pricing wise, of course, it's going to be the same. So the product itself is there. But what's going to make you different is the service that you offer. So, you know, let's say why we were successful in our gas station day was that sometimes small things, the customer is short of a couple of dollars. Hey, don't worry about it. You know, come back tomorrow. They got no cash. Hey, don't worry about it. Come back tomorrow. Hey, you're a regular. Here's a free donut. You know, these small things, this actually means a lot to people. And sometimes that small donut brings them a lot of happiness. So those things that you can get over the feeling like, Oh, what if they don't come back and pay me? Or what if everyone started asking for free donuts and whatnot? But sometimes it's just something you have to do. So with our property, it's the same. We offer housekeeping, we offer laundry, we have a full kitchen, we have 24 hour security. So anything to make people feel at home, feel at ease, because a lot of our tenants are people coming from overseas. So, you know, I'm a Cambodian American, I have that Western culture as part of me. So anticipating what their needs are, anticipating what can make their stay comfortable, we try to provide all that. So it's the service that will ensure that people will come back to our place and at least help us get the occupancy to a decent level. Sean: That's very good stuff. So how do you tell them, though? How do you get the word out that, Hey, we do the extra, we go the extra mile? I mean, for someone who's just thinking about renting for the first time or thinking about renting again after x number of years, maybe after three years during the pandemic, how do you get the word out to them that, Hey, we go the extra mile for you, why don't you rent with us? Vez: Referrals. It's definitely through word of mouth. Of course you can advertise online, you can put on your website, do SEO and everything. That's of course you got to do that, but at the same time, it's referral. So you treat everyone special, you treat everyone the same, and then they will tell their friends. You know, for us, let's say we have a lot of people that do business in Cambodia. They rent there for a long term. They would have guests come. They're business associates, whatnot. They would recommend staying at our place just because like, hey, I had a good experience. You should come stay here. Plus, it's convenient for me. Easier for me to take you out and whatnot. So you understand the tenants, what their needs are, meaning are they doing business. Are they going to be meeting people? Are they going to need transportation? You help make all that easy for them. So they would just keep telling their friends. - - - YouTube: https://www.youtube.com/leadershipstack Website: https://leadershipstack.com Facebook: https://www.facebook.com/leadershipstack Leadership Stack Merch: https://leadershipstack.com/shop/ - - - Vez Meas Website: https://www.nakitokens.com/ Instagram: https://www.instagram.com/vezmeas/?hl=bn Email: vezmeas@nakigroup.com LinkedIn: https://kh.linkedin.com/in/vezmeas
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