Writing ยท Pricing / Revenue Management

2025-05-09
๐…๐จ๐œ๐ฎ๐ฌ ๐จ๐ง ๐ญ๐ก๐ž ๐๐š๐ฌ๐ข๐œ๐ฌ. ๐“๐ก๐ž ๐’๐œ๐จ๐ซ๐ž ๐–๐ข๐ฅ๐ฅ ๐“๐š๐ค๐ž ๐‚๐š๐ซ๐ž ๐จ๐Ÿ ๐ˆ๐ญ๐ฌ๐ž๐ฅ๐Ÿ. John Wooden didnโ€™t give pre-game speeches about โ€œbeating the opponent.โ€ In fact, he rarely mentioned who they were playing. One player joked that the team manager had to buy a program just to find out. Woodenโ€™s focus was simple: Get as close as possible to being the best you can be. Let the scoreboard reflect the workโ€”not the hype. And it worked. Ten national titles. Four perfect seasons. No fluff. What Woodenโ€™s Philosophy Means for Property Managers In multifamily, we waste too much energy watching competitors. Whatโ€™s that lease-up offering? Should we try this new AI leasing bot? How did they open with 90% preleased? Thatโ€™s distraction dressed up as strategy. The real game is inside your own gates: Are your units 100% turn-ready? Are your leads being followed up with quickly and consistently? Do your residents get their work orders done rightโ€”the first time? If you nail the basics, your performance improves. If you donโ€™t, no amount of software or concessions will save you. Woodenโ€™s Rulesโ€”Adapted for Property Management 1. Start with the shoes. Wooden taught his players to put on socks correctly to prevent blisters. For us? Walk your property. Every morning. Is the trash empty? Landscaping clean? Leasing office inviting? First impressions either earn trust or break it. 2. Master the fundamentals. Wooden ran the same drills until players couldnโ€™t get them wrong. Property version: Answer every call within 30 seconds. Return every lead within 2 hours. Inspect every make-ready unitโ€”donโ€™t guess, verify. 3. Keep it simple. UCLA ran just a few offensive sets. Donโ€™t overwhelm your team with 12 closing tools or 9 lease specials. Pick what works. Train it. Repeat it. 4. Watch the tape. Wooden reviewed practice film. You should review leasing calls. Grade the basics. Spot the gaps. Make it a habit. 5. Focus on what you can control. You canโ€™t control market rent growth or cap rates. You can control or influence:(Just a few to get you thinking) How your team handles calls and tours How work orders are handled Move-ins completed with no callbacks Those metrics tell you where to lookโ€”and where to improve. Real Story. No Hype. I once audited a struggling lease-up. The team blamed traffic and pricing. But the truth? The model unit wasnโ€™t clean. Phones werenโ€™t answered. And the leasing agents were winging it. We fixed the basics: Clean, ready units Clear follow-up process Daily accountability checks Within 60 days, the property went from panic to momentum. No fancy tech. No rent drop. Just fundamentals. Woodenโ€™s dad said: โ€œDonโ€™t try to be better than someone else, but never cease trying to be the best you can be.โ€ Stop obsessing over what the other guys are doing. Fix whatโ€™s under your roof. Train your team. Focus on execution. Do that, and the scoreboardโ€”NOI, occupancy, renewalsโ€”will take care of itself.
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