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Ever wondered how to keep a client for years or maybe even decades? Matthew, Evernest's Founder and CEO, and Spencer, Evernest's Director of Marketing, recently sat down with industry expert Jeremy Tallman to tease out just that. Jeremy shares his journey from being a real estate investor to managing over 1,200 properties, highlighting the importance of building meaningful relationships with clients, residents, and vendors.
You can listen in to that conversation here, or simply read on for top takeaways.
Let’s dive in!
Meet Jeremy Tallman
Jeremy Tallman is the co-founder and CEO of T&H Realty Services and a longtime industry friend. He currently lives and works in Indianapolis.
Jeremy's Journey
Jeremy’s path into property management began when he started purchasing rental homes, which eventually led to a full-fledged career in managing properties. This transition wasn't without its challenges, but it was a learning curve that taught him invaluable lessons about the industry.
At the heart of it all? Meaningful relationships. "Our purpose and cause and passion is to build meaningful relationships, which really struck a chord with all of us in leadership," Jeremy says.
So, let’s explore some of the top tips Jeremy has for building relationships within the industry.
The Importance of Empathy
One of the key takeaways from Jeremy’s experience is the need for empathy. Jeremy says that understanding the stress and challenges that investors face is crucial, and fostering a culture of empathy within your team can make a significant difference in how you manage properties and relationships.
"I can go to investors and say, 'I feel your pain’,” Jeremy says. “We had an apartment building last year with a $50,000 roof. Those are hard to overcome, but you can't have a roof that leaks."
The Evolution of Leadership in Property Management
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As T&H Realty Services grew from managing a handful of properties to overseeing more than 1,200 units, Jeremy’s role and that of his business partner evolved significantly.
The two transitioned from being involved in the day-to-day operations to focusing on managing managers and the strategic direction of the company. This shift highlighted the importance of hiring the right people and fostering a culture of trust and transparency, particularly when onboarding new clients.
The Role of Content Creation and Inbound Marketing
In today's digital age, content creation and inbound marketing are essential for building trust with clients.
Jeremy’s company's website is a testament to this, providing detailed information about their services, pricing, and processes. This transparency has streamlined the client onboarding process and has been instrumental in maintaining high-quality service as they scale.
Reframing Conversations with Clients
We also touched on the overall impact of inflation on property management and the necessity of preparing clients for increased costs.In property management, setting clear expectations and executing on them is fundamental to establishing trust with clients.
One great idea we discussed is incorporating an inflation clause into your sales script to address rising costs and ensure that clients have the correct expectations from the outset. This approach is incredibly helpful, especially when managing client expectations around property maintenance and costs.
Reframing conversations and setting the right expectations are skills that every property manager should master. It's about being transparent and proactive in communicating with clients to avoid misunderstandings and foster long-term relationships.
Vision for Growth and Building Relationships
Looking ahead, Jeremy aims to reach 2,000 doors by the end of 2026. That’s a healthy goal for many PMC owners and, as Jeremy explains, requires total buy-in from the entire team. "That's what we're trying to hit,” he says. “We work every day toward it, and I think our staff is pretty keyed into it now."
Achieving this goal will require a focus on organic growth, adapting to market changes, and, most importantly, building meaningful relationships with clients, residents, and vendors. These relationships are the foundation of our business and resonate deeply with their leadership team.
Final Thoughts: Building Lasting Client Relationships in Property Management
From the importance of empathy and setting clear expectations to some solid strategies for achieving growth, Jeremy’s insights are applicable to nearly anyone in this industry.
As we all navigate the complexities of property management, it's clear that building trust, maintaining high service standards, and overall fostering meaningful relationships are the keys to success.
Thanks, Jeremy!
Ready for More?
We know what it’s like to grow a property management business from 30 doors to more than 16,000. The journey was anything but easy, and we learned tons of lessons along the way. Our desire to share that knowledge with you motivated us to start the Evernest Property Management Show podcast, a weekly newsletter, and our monthly webinar series for property managers.
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