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so we had a perspective owner client call our office just the other day and he said as so many perspective owner clients have been doing lately hey please send me your property management agreement I'm gonna compare that agreement with another company that I'm thinking of hiring and then based upon that comparison I will make my decision on who I want to hire and it seems like that's happening more and more often these days so at what point in time should we give out our PMA to a perspective owner client well I'm mark Cunningham with great property management I'll share a couple thoughts and suggestions on what's worked well for us as it relates to closing these owner clients down and when to give them our property management agreement but before I do that I want to thank the sponsor for this particular video citizen Home Solutions we use them we love them because they're a personal concierge service and yes you have to say that way cause their service for your tenants to transfer utilities they cost you nothing as a property manager and they actually pay you a referral fee for those tenants that they that utilize their services so when this video is over go visit them citizen homes solutions.com great guys Peter West's telemark sent you they will take good care of you okay so a couple pieces of guidance number one don't fall into the property management agreement comparison trap don't go there so your PMA should not be your presentation tool to a new perspective owner client just like if you were gonna be talking to someone about listing their home for sale so if you do sales would you walk into that perspective seller and say well let me let me tell you about how great of a job I'm gonna do for you and here's my listing agreement and then you start going through the listing agreement of course you wouldn't that's the last piece that's the last thing you pull out after you've talked about how you're gonna market their home half you how you're gonna do the whole process don't use your PMA as your presentation tool you need to have other things in place that you're using to present from and if you want more information on that check out our videos some other videos we've talked about that but don't let the people paint you in a corner to say well let me compare yours and compare theirs because that's not what differentiates you from anybody else what differentiates you is not the PMA the PMA is written by an attorney it's mostly the same and you need to explain to your perspective owner client why really the property management agreement while important into finding the legal aspects of the relationship it doesn't matter much because it can't define things like your level of service your integrity what your results are how fast you're going to get the job done it doesn't define those intangible things that differentiate between success and failure in our business so we explain to our clients list miss and mr. owner client if you look at our agreement and you look at a competitor's agreement who happens to be the worst company in the state of Colorado light let's just say you picked a company they're the worst competitor we could possibly have and if you look at our agreements side-by-side they're gonna be about 90 percent identical why because they're written by an attorney and they're covering the legal aspects of our obligations to you and your obligations to us it's a terrible comparison for how we're gonna operate from what you can expect of us you need to explain that to folks otherwise they're just not gonna think through that process and what we recommend we've just done this we've created a video that we now send out to our perspective owner clients so when they say for example hey send me your PMA we say great be happy to send - and I'm gonna send you a video that's gonna walk you through some of the important things to be aware of in the property management agreement now this video is just in production right now I will link that video if you're watching us on YouTube I'll put a link to this video I'm talking about where we're gonna be talking to prospective owner clients and explaining to them I think we call it the the 8 most important parts of a property management agreement and we guide them through the things they need to be aware of as a prospective owner clients the important parts of the agreement but in that video we also make the arguments that listen this is not the best way to compare us or any company to another company well this is agreements important and you need to read it it's not it should not be the sole thing to make you determine who you want to work with you want to look at other aspects of that and they'll fourth point is this remember that they're not choosing you they're not saying yes I choose you because that suddenly reverses the conversation of how you're gonna operate you are accepting them and they're accepting you it's a relationship not a transaction and that's an important thing to remember you're not trying to sell them on anything you're explaining who you are how you operate and if that works for them then you were entering into a relationship in the relationship Goethe goes both ways so if they say well I've read your agreement and and I want to hire you whoa hold on that is great I'm happy to hear that but slow down let me ask you some questions mr. owner miss owner to make sure that we're gonna be a good fit for each other because if they have unrealistic expectations of you the relationship is not going to succeed it's a relationship and you must accept each other in that relationship you're not selling anything you're entering into our relationships and important mentality you have as you enter into that hey before you sign off let me tell you that we have at the time you're watching this we have now officially opened up registration for pulling back the curtain for it's fully virtual yeah we're excited about that fully virtual 3-day property management conference if you haven't registered yet when this is done go to property management conference net or visit our website go to the events tab you can register there man I'm excited about this I'm gonna be there we've got seven eight of the top industry leaders who are gonna be talking to you at a virtual format about how you can do property management better join us at that event we'll see you there but until then make sure you're tightening up your PMA creating a dock or video to give out to your owners to explain the differences in your property management agreement it will do so much for changing the conversation for making sure that you're not wasting time that you need to be explaining the PMA but you're getting your perspective on your clients what they need so they can make a wise decision and you can make a wise decision in the relationships you form