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Why do property management firms exist?

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Many commercial property management firms today measure their success by their ability to achieve goals such as making larger transactions, increasing the amount of square feet they manage or obtaining more upscale properties. Unfortunately, in their quest to attain these transaction and asset-driven rewards, these firms often lose sight of the real reasons they exist. This lack of purpose results in fuzzy business objectives that ultimately fail to serve the best interests of a firm's clients - or even the firm itself.

One property management firm with a clear vision of why it exists is Meissner Jacquet Investment Management Services. Since opening in 1992, Meissner Jacquet's primary purpose has always been to provide a quantified increase in property value. The firm's business strategies and working environment are geared toward delivering outstanding customer service not only to clients, but also to their tenants, Meissner Jacquet employees and the community.

"Our business has always been about attracting highly-educated, experienced individuals who work closely together to create an enterprise that delivers true results to our clients and their tenants through training, technology, sharing, support, open communication and maintaining a healthy work/life balance," explained Meissner Jacquet Principal Jerry Jacquet. "By making this our focus instead of worrying about the size of our portfolio, growth and success have come naturally."

Having a strong sense of purpose and direction that starts with its management teams and permeates throughout the firm also enables Meissner Jacquet to quickly identify and react to trends that will impact their clients' assets.

"Meissner Jacquet has always been relentless in our pursuit of new technological advancements, such as evolving application technology, that allow us to increase operational productivity and strengthen our customer relationships," said Jacquet.

In the next two decades, having a clear vision of why they exist - and emphasizing a customer-centric approach to business - promises to be even more important for property management firms. As the real estate industry continues to undergo dramatic changes, the most successful property management firms will be those that are adept at embracing and implementing new technologies. Leading firms will also need to find innovative ways to develop and retain staff for the long term. They will need to have the willingness and energy to look beyond traditional, existing demand factors and have the insight and flexibility to overcome internal barriers to success.

"In the future, we see the professional third party property management firm's position growing within the industry due to clients' increasing need for sustainable strategic relationships," Jacquet said. "These types of relationships have always been important to Meissner Jacquet, and we're finding that they're becoming even more critical for our clients as they hold onto their assets longer."

For more information, call Jerry Jacquet at (858) 373-1130

Submitted by Meissner Jacquet

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