Voice on Demand - Retail Podcast by MECS+R (MECSC)

10 of 49 episodes indexed
Back to Search - All Episodes

(Part 1) - How will you communicate differently? With Shannon Alter, CPM

by The Middle East Council of Shopping Centres & Retailers
September 24th 2020
00:07:23
Description

On this episode with Shannon Alter, CPM let us explore her journey in the Retail and Real Estate Industry and get inspired. Let us take this opportunity to learn f... More

When I first started out in real estate, I had one of my favorite bosses was known for his different acronyms and sayings, and one of my favorite ones was that real estate is a handshake kind of business. And so what? He meant. Waas. You know, we want to were friendly people, right? We wanna look somebody in the eye, shake their hand because that's how I begin to trust you. Welcome to the voice on demand. Retail podcast by the Middle East Council of Shopping Centers and Retailers today is really special. Where with Shannon Outer, a certified property manager and national instructor for both the Institute of Real Estate Management and American Management Association, she trained many professionals locally here in the U. A. E and internationally, including courses in Russia, India, Ukraine, Georgia, Canada

, China, South Korea, South Africa and in the United States. Part of her many notable experience includes a leadership role as a regional vice president for a nationwide community management company with over 180 branch offices. The retail real estate industry is not forgiving environment. It takes more than a certain amount of skill, conviction and perseverance to survive. It and even then, success is not guaranteed more so during these times when cash flows, air impeded and challenged because of humanity's latest enemy, called Covered. 19. The retail real estate industry in particular, have been hit pretty hard today. Let us take this opportunity to get inspired from and learned journey off, a successful professional in our industry. What inspired me to go into real estate and what inspired

me to focus on retail. And so I'll start with the last one. First I had I was working for an office developer and had one little tiny shopping center, and I thought I could do this. So I really fell in love with retail. I like the fact that it's kind of in its best times. It's kind of like theater, right? Everybody's It's kind of like a performance, and all of those people in the background the property managers, developers, whatever they are, are all kind of that backstage crew, if you will. So I fell in love with that, and then I had the opportunity to work on the tenant side for an anchor grocery tenant, which was just so I opening. It was a great opportunity and I would say Give me the flip side of the same coin. So as the landlord, you're looking for a certain outcome. You're looking for certain things as the retailer. Typically, you're focused on whatever is between your four walls, right? And because you got to sell your stuff. And so that, to me, was just fascinating. Having that opportunity. Incredible

. Now there are a lot of chefs and changes happening in the playing field. Actually, many professionals are switching careers, and there are students finishing their universities. There are many who are starting in real estate. What can you tell them? As an advice? Start out by saying, I sit on unfortunate to sit on the advisory board for the real estate group at one of our local universities, one of the California State universities, and I was asked to be on a panel so they have, ah, a real estate club, and they asked some of us on the board to be on a panel. So there were five people on the panel. I was the only woman, and it was interesting to me, because in this class has been traditionally I don't know why, but traditionally male, So many more women in the class, and they really had some interesting questions for me. And so I had very stellar colleagues on the panel. They were all great, and I was thinking about you know, what could I tell this group of students who are probably junior seniors, maybe some grad students about

real estate? Because here's what they initially wanted to know. This was the last time I spoke in front of them was last fall. So pre Cove in what they initially wanted to know is, How can I flip houses? How could I do this? How could I do this? And we were there to tell them. So we had all of the big associations there. You know, Boma, Iram, everybody else, CCM. And we thought, Well, what could we tell them to kind of expand their viewpoint that real estate is not Onley flipping houses. Here's the other things you could do. And for me, my path has been pretty diverse, which kind of surprised me, but they were interested in that. But I think to cool it down. It's all about the relationships that you make and carry with you throughout. So That was my first advice to the students. Your relationships aren't necessarily how many friends you have online, right? That's how maney riel relationships you would have. How you connect again, not how maney connections, but how you connect and how you communicate

. Yes, so the quality. So how you communicate? Because I think now, in current times, especially that everything so fragmented and people don't always know how to communicate virtually Or do I do it in person? What do I do? So I think that ability to communicate well to keep that relationship at the forefront is really crucial. Another point to that is when I first started out in real estate, I had one of my favorite bosses was known for his different acronyms and sayings, and one of my favorite ones was that real estate is a handshake kind of business. And so what? He meant waas. You know, we want to were friendly people, right? We wanna look somebody in the eye, shake their hand because that's how I begin to trust you, right? Is that contact? And now that handshakes around holding a little bit, we have to do it differently, right? But this the concept is still the same. As you said, We have toe really

work on that relationship and I'll give you an example. I happen to be talking to a client of mine, actually, just the other day, she's a great client, really nice company, top down, great relationships. And I said So how's it going? I hadn't talked to her since March and she said, You know, it's great, Here's what we've done Here is how my team is reacting virtually and we were talking about doing one on 11 on once every week and she said, You know, I have to write this down I used to do this in person, but I haven't been doing it, so I need to do the one on once. So it's all about that communication and just thinking, How can I translate whatever I did in person to the screen next week With China Alter What does the retail industry need to focus on this year and coming years? Stay tuned with us, only hear the voice in the van retail podcast. But the Middle East Council of Shopping Centers and Retailers, the retail congressman, a 2020 coming up this

October 26 27 would be the best venue for you as a retail professional. To reconnect, start building new relationships and get updated about what's happening here in the mean a region. Visit w w dot m e C s c dot org for more information.

(Part 1) - How will you communicate differently? With Shannon Alter, CPM
(Part 1) - How will you communicate differently? With Shannon Alter, CPM
replay_10 forward_10
1.0x