Experts in each profession have certain defining characteristics that allow them to be successful in their fields. For example, nurses are known for being caring and resourceful, while engineers are known for their ability to solve problems creatively. Experts in real estate often share the following characteristics.
Observant
Landlords such as Steven Taylor have to be observant, or else they will miss opportunities. They must be able to survey neighborhoods, both online and in-person, and quickly determine what the average income of a neighborhood is and what kind of housing people in an area want. During property inspections, Taylor Equities must pick up on small details that give hints as to the condition of the building. Landlords develop these skills through practice, but without them, they have almost no chance of success.
Skilled in Communication
At each step in the real estate process, landlords must be able to effectively communicate. For example, a landlord must work with their employees as well as city officials, potential tenants and vendors. This involves being good at oral communication, which includes appropriate body language and conversational skills. However, landlords must also know how to communicate effectively through their emails and written advertisements.
Hardworking
Although being a landlord may seem like an easy job, it actually requires lots of time and dedication. Landlords must look for and inspect new properties, perform or oversee maintenance on existing property and advertise units to fill any vacancies. Once landlords have been in business for long enough, they can hire employees to take care of many of these responsibilities. However, in the early days, landlords must personally complete all of these tasks.
Landlords must be observant, skilled in communication and hardworking if they want to be successful. Potential landlords can develop these skills if they do not come naturally, but they should be prepared for years of effort.