About 20 years ago, I started getting would-be client requests for current client references. I talked to several local clients * 2 of which were real estate agents * and they agreed for me to provide their contact information....problem solved.
Then verious DIY books * including Property Management for DUMMIES * started suggesting that would-be clients get references and that they question (grill) the references in order to avoid mishaps during the management of their property.
I stopped providing reference names when a current client/reference recounted a phone call from a would-be client who seemed more interested in my client's properties than exploring my management policies and procedures.
Where I had envisioned a 5 or 10 minute phone call to my clients, the callers were actually asking questions that they should have asked me directly * so that I could then judge if I WANTED to work with them * AND my current clients were uncomfortable.
I've stopped providing references and when would-be clients ask me for a list of my current clients, I explain that just as I would hold their contact information in confidence, I want to hold my current clients information as well as our relationship in confidence. So far, most have appreciated my response and it is no longer an issue.
Wallace S. Gibson, CPM * GIBSON MANAGEMENT GROUP, Ltd.
Central Virginia
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You make some very valid points in this topic. Thanks.
Dave * if you see Wendell Davis * tell him WALLACE says HI.....he and I served on NARPM board together.....I don't want to loose a good client already in my management program to a would-be client's inappropriate questions....
hmmmmm The references we provide gives us good reviews... they also tell us what they have said to the potential new client . This has not been an issue with us.
Wallace, you REALLY bring up a great point. I have been recently asked for some references by a landlord prospect, but could not provide them with any. I did ask a few of my existing landlords for a reference, but never received a response. What I did tell that prospect, though, is that it was unlikely that I would be able to provide them, since most of my owners are VERY busy people, which is why they have hired me to handle their properties in their absence. I like what you said about confidentiality, so I need to remember that is one of my duties to my client.
Diane * obviously, I would ask property owners who would give GOOD references if I could use them.....it is their TIME and the QUESTIONS that the would-be client ask that is now a concern....otherwise, the reference would be worthless - yes, she is an EXCELLENT and EXPERIENCED property manager and has kept my property RENTED and in GOOD CONDITION.
Prospective clients questioning CURRENT clients inappropriately and my CURRENT client being uncomfortable is my concern.
Eric * the request for PM references is NOW in a lot of DIY landlord books. I think they are confusing faux agent/pms with professional fee managers.
Great point, Wallace, and we have the same policy for these requests; eg, for privacy reasons we don't give out client information, and we point them to our professional references instead (NARPM, etc).
Ricky * encouraging referrals from current clients, other property managers AND real estate agents is a better way to go. I pay a $250 referral fee to agents for tenant OR property referrals and I FORGIVE one month's mgmt when a current client refers a new client to me....MUCH less headaches and a LOT BETTER client pool * half of my work is done BEFORE I talk to the client