Strategic Business Development and Client Prospecting in the Third-Party Apartment Management Industry

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dc.contributor.authorRead, Dustin C.en
dc.contributor.authorGoss, Rosemary Caruccien
dc.contributor.authorHopkins, Erinen
dc.date.accessioned2019-10-08T19:18:10Zen
dc.date.available2019-10-08T19:18:10Zen
dc.date.issued2017en
dc.description.abstractIntensifying competition and increasing market demands are forcing many third-party apartment management firms to re-evaluate their approach to business development and client prospecting. In some instances, these companies are becoming more selective about both the assignments they take on and the property owners with whom they work. Careful consideration is frequently given to a number of factors to determine if new business opportunities are a good strategic fit. This paper examines how sophisticated fee management firms make such determinations by examining the perspectives of executives representing 25 of the largest multifamily operators in the United States. The results indicate heavy reliance on relational approaches to business development, limited long-range planning, and informal channels of communication often encourage fee managers to pursue new business in an ad hoc manner despite market conditions favouring more systematic behaviour. A series of best practices are put forth to address these concerns.en
dc.description.notesThe authors would like to thank the Institute of Real Estate Management (IREM) for its financial support, as well as the National Multifamily Housing Council for its assistance in data collection (NMHC).en
dc.description.sponsorshipReal Estate Management (IREM)en
dc.format.mimetypeapplication/pdfen
dc.identifier.doihttps://doi.org/10.3846/1648715X.2017.1317297en
dc.identifier.eissn1648-9179en
dc.identifier.issn1648-715Xen
dc.identifier.issue4en
dc.identifier.urihttp://hdl.handle.net/10919/94409en
dc.identifier.volume21en
dc.language.isoenen
dc.rightsCreative Commons Attribution 4.0 Internationalen
dc.rights.urihttp://creativecommons.org/licenses/by/4.0/en
dc.subjectBusiness developmenten
dc.subjectClient prospectingen
dc.subjectProperty managementen
dc.subjectApartmentsen
dc.subjectMultifamily housingen
dc.titleStrategic Business Development and Client Prospecting in the Third-Party Apartment Management Industryen
dc.title.serialInternational Journal of Strategic Property Managementen
dc.typeArticle - Refereeden
dc.type.dcmitypeTexten
dc.type.dcmitypeStillImageen

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