Magazine article Journal of Property Management

Keep Up the Good Work

Magazine article Journal of Property Management

Keep Up the Good Work

Article excerpt

Prior to the depression, the management business, except as a specialty in the big cities, did not amount to much. Then our late cousin, the depression, descended upon us--the unexpected, unwelcome guest who stayed with us for ten long years. Did I say unwelcome? Cousin Depression made our business with little help from us. The thousands of mortgage lending institutions all over the country found themselves owners, not mortgagees, and they knew nothing about how to handle the job. They turned to the Realtor, who turned to the Institute. We enjoyed prosperity and began to educate the public to our specialized business. We were a group of "professional men" not a trade organization. All this was quite rosy and lasted until the end of the depression. Then we began to sell the properties, and to a large extent forgot the steady income of the management business and our "profession" for the larger quick return of sales brokerage. In our anxiety to make sales, many of us neglected to try to keep our management.

Then the war. Meeting attendance dropped off. The national convention was cancelled. Result? Not good! Loss of business! Loss of interest! Members asked, "What do I get out of the Institute?" "Why should I be a member?"

About this time several very interesting things happened. The Institute began to emphasize the problem of how to go out and get business. Some rather academic criticism was heard that this was "unprofessional." We can not decay while waiting for bad times to throw good business at us. …

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