In 2004, during a season of change in my life, I decided to leave my job in the mortgage industry and had a major decision to make. I had a job offer from a large retail company, offering me a management position. But, after working in retail for over a decade, I didn’t really want to return to that field.
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At the same time, I had a series of interviews with a property management company for a leasing consultant position. I thought my interviews went well, but I hadn’t heard back from the company when I got the message from the retail store manager offering me the position.
Did You Think You Would Be Here?
As you may have guessed I turned down the retail position and waited for the call from the property management company-which f i n a l l y came. And over ten years later my life has been changed in so many ways, all because I chose to enter the multifamily industry, so many years ago.
We all know that most of us in multifamily did not choose to do so as part of some master plan. We come here from many different directions and with many different stories. Some people stay for a short time, while others (like me) end up hanging around for years. Now that I have fully transitioned to the vendor side of the industry, I can look back on my time as in “insider” with great fondness and appreciation.
Here are some of the things that I appreciate the most about our industry:
Recession Resistant: Whatever the condition of the economy, there will always be a need for rental housing. During poor economic times I have never been worried that the entire industry would suddenly disappear, leaving me wondering what I would do next. And, even if your existing company falls on hard times, there are many, many companies that would love to have you if you’re talented.
It Prepares You for Many Different Industries: Have you thought about the different number of hats you really do wear as a multifamily professional, especially if you’ve been in the business for awhile?
Customer service. Sales. Management. Budgeter. Project manager. Contract negotiator. Business Financials. Trainer. Real Estate. Marketing. Maintenance.
When I managed, I realized that many of my people would not be “lifers,” especially the younger ones fresh out of school. So, I used the fact that their experience in the multifamily industry would prepare them for whatever their dream careers were more effectively than almost any other job option they could select as a way to motivate them.
Incidentally my story totally embodies this point. There were some very talented people that I worked with in retail who are still “stuck” and never found a way to transition out of it. I was able to parlay my experience in this industry to launch my own corporate consulting firm and today I get to do what I love. How cool is that??
Anyone Can Succeed and Advance: I worked for a portfolio manager who was one of the smartest and savviest industry people I have ever known and she never finished her college degree. I used to say about her that she forgot more about the industry than I probably ever learned during my career and it was her talent and results that mattered…not just credentials. This is probably one of the most democratic industries around, where someone getting started today has a legitimate shot of becoming a high level executive in the future, regardless of your background.
I wish you tremendous success…and hope you enjoy the ride!
