Build a diverse skillset

"The most valuable skill you can have is the ability to learn new skills." - Unknown

Well, this ‘coach’ week theme has been a bit of fun, and I’ve thought of so many more prompts to deliver, so we might have to do a ‘coach-themed’ follow-up in the future.

Meanwhile, speaking of coaching, of you guys might like to know I have an online masterclass coming up next Tuesday 8th of August (Monday if you’re in the UK or US), which is a sneak preview of our AI-Powered Agents Workshops kicking off in Brisbane on August 15 - more including dates for Perth, Sydney and Melbourne are on the website.

If you can’t get to the masterclass next week, the replay will be available exclusively to paid subscribers of this blog, so we’ve got you (and thank you again for supporting this project).

This also happens to be the inspiration for today’s prompt, you are here learning about ChatGPT, which, in general, is adding to your skills as a sales agent or a PM.

In real estate, every little skill can set you apart, whether it’s learning better digital marketing, how to be more efficient, conflict resolution, negotiation, or something else property related, it may mean the difference between winning or losing a listing and as I’ve heard John McGrath say many times over the years, “there are no second places in a listing presentation.”

Prompt of the Day

Please recommend complementary skills or certifications I should acquire given my [specific role] and [specific industry] to enhance my professional value and increase my versatility within my organisation or industry.
[specific role] = property manager
[specific industry] = the real estate industry

ChatGPT will default to a North American response with some good ideas (if you replace the certifications with something from your country, state or location).

Here’s the response:

Certainly! Given your role as a Property Manager in the Real Estate industry, here are some complementary skills and certifications that can enhance your professional value and versatility:

1. Skills:

a. Financial Management:

• Understanding budgeting, financial statements, and financial forecasting can help you manage property finances effectively.

b. Technology Proficiency:

• Familiarity with property management software like AppFolio, Buildium, or Yardi can streamline operations.

• Knowledge of virtual tour software and other digital tools can be beneficial, especially in the current digital age.

c. Negotiation Skills:

• Being able to negotiate effectively with tenants, contractors, and vendors can lead to better deals and smoother operations.

d. Legal Knowledge:

• Understanding local and national housing laws, tenant rights, and property regulations can prevent potential legal issues.

e. Customer Service:

• Building strong relationships with tenants and addressing their concerns promptly can lead to higher tenant retention rates.

f. Maintenance Knowledge:

• Basic understanding of property maintenance, including plumbing, electrical, and HVAC systems, can help in addressing issues more efficiently.

2. Certifications:

a. Certified Property Manager (CPM) from IREM:

• Offered by the Institute of Real Estate Management (IREM), this certification is recognized internationally and can significantly boost your credentials.

b. Residential Management Professional (RMP):

• Offered by the National Association of Residential Property Managers (NARPM), this certification is for those managing single-family homes and small multi-family properties.

c. Accredited Residential Manager (ARM):

• Another certification from IREM, this is for those managing apartment buildings, condos, and other multi-family properties.

d. Certified Apartment Manager (CAM):

• Offered by the National Apartment Association (NAA), this certification is for professionals managing apartment communities.

e. Real Estate License:

• While not always required for property managers, having a real estate license can open up additional opportunities within the industry.

f. LEED Green Associate:

• With the increasing emphasis on sustainability, having a certification from the Leadership in Energy and Environmental Design (LEED) can showcase your commitment to green building practices.

3. Additional Training:

a. Conflict Resolution:

• Handling disputes between tenants or addressing tenant complaints.

b. Marketing and Branding:

• Effective marketing strategies can help in attracting potential tenants.

c. Safety and Risk Management:

• Ensuring the safety of your properties and understanding potential risks.

Incorporating these skills and certifications can not only enhance your professional value but also provide you with a competitive edge in the real estate industry. Continuous learning and adapting to industry trends will always be beneficial.

What you could also do is send ChatGPT a follow-up question - could you please re-answer this only using information from Australia? (And even then, you should do your research on the courses being suggested for relevance, who the trainer is etc, etc).

Moving back to ChatGPT as a skill (because if you are an AI-powered agent, you have a super-power to really impress people)

If your main business is winning listings or managements, I think there are a couple of ways you can use it in a listing presentation which would provide a serious wow moment.