Apartment Complexes Face Foreclosure Sales

Three apartment complexes that sold in March for $10 million are now facing foreclosure sales, according to first-run foreclosure notices in the Wednesday, June 22, Daily News. Bellevue, Wash. – based

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3. Emerald Apartment Group LLC in March bought Emerald Square Apartments.

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5. 6100 Knight Arnold Road Extended for $4.1 million, Emerald Pointe Apartments

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5. 3338 Summer Place Lane for $2.6 million and Emerald Park Apartments

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5. 3350 Hickory Hill Road for $3.3 million.

The sellers were three Georgia-based entities. Cord Moving and Storage www.cordmoving.com actively follows the real estate market “which directly impacts the moving industry here in Memphis” says Gary Lee the General Manager for Cord Moving in Memphis, TN.

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3. Wilson Management Inc.

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3. Protective Life Insurance Co. in three March 18 transactions: Emerald Square for $3.7 million, Emerald Pointe for $2.3 million and Emerald Park for $3 million. The loans were scheduled to mature in March 2037.

Now Protective Life is foreclosing on the complexes for defaulting on those loans, according to the foreclosure notices. Emerald Square Apartments is a 97-unit complex built in 1974. It sits on 11.9 acres on the north side of Knight Arnold west of Ridgeway Road. The Shelby County Assessor’s 2011 appraisal is $4.2 million.

Emerald Pointe Apartments is a 92-unit complex built in 1975. It sits on 7.5 acres on the west side of Hickory Hill Road south of Knight Arnold Road.

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5. 3338 Summer Place Lane

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5. 3315 Hickory Hill Road. Its 2011 appraisal is $3.2 million.

Emerald Park Apartments is a 157-unit complex built in 1973. It sits on 14.9 acres on the east side of Hickory Hill south of Knight Arnold. The assessor’s 2011 appraisal is $3.5 million. The foreclosure sales are slated for July 15 at noon at the Adams Avenue entrance of the Shelby County Courthouse.

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5. 140 Adams Ave.

Just another trend that the City of Memphis does not need at this pioint nor does the moving industry but I guess this is a sign of the times.

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Cord Moving and Storage and North American Van Lines Says NO to The “Low Bar” Mentality – Recognizing and overcoming mediocrity in customer service experience…  

• An appliance repairman or cable television technician shows up with just ten minutes remaining in his four-hour schedule window and we’re relieved.
• A waitress makes no mistakes in our dinner order and we reward her exemplary service with an above-average tip.
• We laboriously type our social security number and credit card information into an automated IVR system and then are unsurprised when asked to repeat it all again to the agent who answers the phone.
• We stand in line at the grocery store, watching as the cashier leaves her station and walks back into the store to check a price.
• We wait patiently at the hotel registration desk as the clerk takes a phone call even though she’s in the middle of checking us in.  

What do all of these mind-numbingly familiar scenarios have in common? Several things actually. First, they are all examples of stunningly poor customer service, so commonplace that we scarcely bother to even remark about them to friends and families. Second, we, for the most part, allow them to happen without comment, recourse, or even recognition. We don’t get upset, switch away from the offending service providers, or even suggest alternatives. More insidiously, though, it has come to be what we expect. We have reached a point where we’ve concluded that nothing better is possible. We have lowered the bar so far on service providers that we frequently find ourselves in the ironic position of rewarding mediocrity. 

Exhibit A for these diminished expectations is restaurant service. Our culture is one in which we expect to pay a fifteen-percent gratuity to wait staff who simply show up for work. The server who actually gets our order correct (i.e., who does their job) is thought to be astonishing and expects to receive more than this nominal amount. And we happily pay it.

Companies, almost without exception, will tell you that the reason for diminished customer service is cost containment. You can’t get an agent on the phone quickly because agents are expensive. You have to sit at home all day waiting on the technician because gas and trucks are expensive. Sorry, that’s just how things are these days. Cord Moving and Storage and all of the Agents for North American Van Lines has taken a completely different approach and that is to have key performance indicators in place and work as a team to better the experience to our customers – transferees. There is no mistake  that the moving industry has struggled over the past several years with the depressed housing market so why not improve services while maintaining a pricing structure and profit levels that make sense and change the overriding trend to accept mediocrity.

But it isn’t really about cost at all. It’s about managing to the level of service that customers expect, and going no further. As a consequence, our expectations today are so minimal that on those rare occasions when we phone a business and a person answers instead of a machine, we’re momentarily stunned into silence while thinking of what to say. We feel guilty giving only ten percent to the waitress who gave us surly, inaccurate service at lunch. In the moving industry I have never witnessed a group of people that work harder, try harder and push harder to improve what they do every day in weather conditions that at best can  push most people to their limits only to please the person they are moving. Make no mistake, we will fail from time to time but I have never witnessed anyone in the moving business and I mean never that remain in the industry to take a “oh well” attitude but rather what can we do to make it right and not repeat the same mistake again and again.

It is not the purpose of this brief treatise to propose service solutions; these are addressed in plenty of other places. Rather, the point here is to simply acknowledge and make explicit the low (and falling) expectations we’ve all come to accept, the hope being that recognition of this fundamental state of affairs will, as consumers, make us just a little more willing to demand something better from those who provide us with service, or, as service providers, to rise to these heightened expectations. In a society where everyone settles, there is no incentive to improve.

But what are we, as service providers, to do? Most importantly, expect customers to expect more. Rather than benchmark our service performance against what the competition offers, evaluate it against what’s possible. This, in turn, requires an aspirational mindset that is not terribly common in American business. On the flip side, we are all not only business people but consumers as well. Adopt the mindset that you deserve more than you’re currently getting from your service providers. The worst that can happen is that you get a reputation as someone who doesn’t settle. That certainly can’t be a bad thing.

Ultimately it becomes a virtuous circle. Heightened service expectations beget improved service. This, in turn, makes us expect even more. Heck, before you know it, that technician might show up at your house at exactly the time you want him there!

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Earthquakes in Japan, floods in Australia and throughout South America and now a series of devastating tornadoes in America’s mid-west – if supply chain risk wasn’t topping agendas at the start of the year, it certainly is now. Coal supplies from Queensland took a pounding as a result of the once-in-a-generation storms that engulfed the Australian state at the turn of the year, while the IT supply chain was placed under similarly extraordinary strain after events in Japan.

No less damaging, though perhaps not as headline grabbing, have been the series of deadly twisters that have reeked-havoc across the US counties of Alabama, Georgia, Mississippi, Tennessee and right here in Missouri.

Recent research by Dun and Bradstreet’s US Disaster Remediation Team has identified more than 325,000 companies in those five areas, giving an indication of the scope of the problems facing those supply chains exposed by tornadoes that have taken a heavy toll. The disaster has once more served to place supply chain resilience at the heart of the procurement strategy. The question is whether companies are adapting and learning from the lessons posed by the events that have come to shape the business world so far in 2011.

“Disaster recovery is a well-known discipline in information technology,” blogged Jim Lawton, president and general manager, D&B Supply Management Solutions. “It’s a newer concept in supply chain management – you can’t just create a redundant supply chain. Still, I’m fairly sure that 2011 will go down as the year in which building contingency plans for supply disruption went mainstream.” Lawton goes on to identify two fundamental factors that companies must take into account if firms are to be agile enough to weather the worst of the supply chain storm. “There are two keys: speed and information. Sure there’s ground work to be laid: prioritizing suppliers based on critically; identifying alternate sources of supply and putting in place a “reaction team” that’s ready to go at a moment’s notice.

“But when disaster strikes – especially one that’s completely unexpected – time and knowledge are the critical factors in response.” The global events that have decimated supply chains over the past six months have come at a moment’s notice, with the countries and companies affected powerless as Mother Nature flexed her muscles.

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Despite what appears to be a non-stop wave of tough news regarding real estate, four major media players have come out this month with the same advice: It Is Time to Buy a Home! This spells a relief to the moving and storage industry that would be easy to characterize as struggling for the past several years. So here are the four articles that someone at Cord Moving and Storage came across that helps breakdown as to why the advice makes sense.

• The Wall Street Journal: Why It’s Time to Buy
• CBS Money Watch: Why the Time to Buy is Now
• Forbes Magazine: 9 Reasons to Buy a House Now
• National Public Radio: For Many, It’s Still a Good Time to Buy a Home

With prices continuing to depreciate in most regions of the country, some may wonder why these four entities are suggesting to their readership that now is the time to buy. Each organization realizes that PRICE is not as important as COST. The cost of a home can go up even if prices continue to fall. Unless you are an all cash buyer, you must take into consideration the expense of mortgaging when calculating the full cost of a home. So this is some information to consider that leads me to believe that just maybe the moving and storage industry is on it’s way back as the real estate industry leads the charge.

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It is important to receive written estimates from at least three moving and storage companies (hopefully one is Cord Moving and Storage) prior to signing a contract. Estimates are usually free of charge, with a chance of a minimal fee. When requesting estimates you should not only compare prices, but compare services. Your cheapest estimate may offer horrible service, putting your goods at a higher risk for damage. Also take referrals into consideration; you can request a referral from a friend, colleague or the storage company. This way you can view complaints made against the designated company.

A warehouse estimate differs from a mover estimate because no extra charges can be applied without the customers consent. All warehouse estimates are based on the warehouse operator physically inspecting the items you wish to store. If they attempt to offer you an estimate over the phone, do not accept and reconsider your storage facility.

The following list is of what you should expect to receive in a storage estimate:

1. Name, address and telephone number of the storage company
2. Address of the location where your items will be stored (may differ from office location)
3. Warehouse storage rate per unit
4. Minimum monthly storage charges
5. Minimum number of months storage
6. Any fees associated for storage preparation, padding or packing
7. Costs applied for transportation if this service is available
8. Any other additional charges

Within five days the warehouse operator must send you a statement regarding the inspection of your goods. It should include a detailed description of your monthly charges and any additional fees. The statement should also contain information on any liability limitations for loss or damage.

The basic storage costs will cover light, electricity, valuation, security and pest control. However, it is necessary to consider what other storage options you need. Certain items may require temperature control or non-standard insurance. If it is important that your goods have special care, then it is advisable to pay the extra costs.

A warehouse must insure goods against loss or damage for a minimum of about $0.30 per pound per article up to $2,000. For example, if you take out insurance worth ¼ of the original value, each item would be covered for a quarter of its purchased price. You may decide to use additional insurance, if available through the warehouse. It is important for you to understand exactly what your coverage includes in the event that your goods are damaged.

Ask the questions and become educated about where you are storing your lifelong processions.

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If you have requested an estimate (hopefully from Cord Moving and Storage), soon your phone will be ringing from moving companies looking for your business. Now what?

Do not worry, we can help. With the initial call, ask the movers for basic information about their company – address, how many employees, are they a member of any moving associations, do they actually own trucks, etc.

The answers are not as important as how the company treats you: Do they answer every question? Do they appear interested in winning your business? After you have narrowed down your list of movers to three or four, have them visit your home so they can see what possessions you want moved, as well as other services you will require, and give you an estimate based on that.

This ‘in-home survey’ is the ONLY way you will get an accurate assessment of what it will cost you to move.

What do you look for when the moving consultant comes to see you? I have worked for over 30 years in the moving business doing this exact thing: I would visit people looking to move and give them moving estimates. During that time, I learned a great deal of what it took to build a level of trust with the consumer. Based on that experience, here are the questions you MUST ask the moving companies and the kinds of answers you should get. You are not looking for just the right answer, but how the question is answered – a caring and meticulous salesperson usually represents a caring and meticulous moving company.

1. How long have you been giving moving estimates?
   You want someone who has been doing this for awhile. Experience counts for a lot.  Ask the salesperson about their background. Were they a driver or did they work in some other aspect of the moving process before being an estimator? The more experience the individual has, the more comfortable you will be that you are getting a true estimate. Let’s be frank: Most salespeople love to talk, so if they are unwilling to discuss their experience, take that as a red flag.
2. How long has your company been around?
   If the company has been in business for some time, say around 10 years, it is usually a good sign they are doing something right and have been providing good service to their customers. You should not base your decision on the time in business alone, but it is a good insight into the company.
3. What pricing options or types of estimates do you offer?
   You can learn a lot about the moving company representative – as well as the moving company – by how knowledgeable he or she seems, and how willing they are to take the time to explain the different pricing. If someone rushes through the explanation or seems to not understand the options and how they might apply to your move, you should be a bit concerned.
4. What is my delivery schedule?
   You want the answer to be realistic.  For long-distance moves especially, it can be difficult to be precise to the exact day.  Most movers will ask for the option of a couple days for the delivery period.  Beware of anyone who offers dates that seem just a bit too good too be true.  Yep, it probably isn’t.
5. Does your company do any repeat work for businesses in the area?
   Lots of people will ask a moving company for references of individuals who have used their services, but let’s face it – what mover is going to give you a BAD reference? However, if the moving company does a lot of repeat relocation work for a particular business, it is a good sign they consistently do quality work.  What is there standing with the Better Business Bureau – is it a A+ Rating?
6. How will you handle (fill in the blank)?
   If you are moving a treasured heirloom or a large, cumbersome object like a piano, find out how it will be moved. Again, this is another test of the moving consultant’s knowledge, as well as a test of how you can expect to be treated. If they take the time to give you a thoughtful and complete answer, chances are good this is a company that cares about the customer and their possessions.
7. The last question is for you, the mover:
   Is the sales representative just telling you what you want to hear?
   This can be a tough call and may require the ability to read body language.  You probably do not want to work with someone who disagrees with everything you say, but sometimes the moving consultant may make a suggestion that is different than your thinking. Did what they say make sense? If it did, it’s a good sign the salesperson is someone looking out for your interests.

After you meet all the applicants, compare notes. Don’t let price be your only guide; in fact, a much lower price may indicate that something was missed in the assessment, or indicate you’ll get hit with additional charges later. Follow-up after the ‘in-home estimate’ is also important.  Finally, and this seem elemental, but which moving consultant worked the hardest for your business? 

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Many salespeople spend countless hours trying to improve the way they handle objections by those moving and those that are national accounts that move sometimes hundreds of employees. Schools of thought that range from high pressure tactics all the way to being able to demonstrate empathy to the client have tried to tackle this common selling issue. But, what top performers know is that objections are typically masking some other underlying issue that somehow feels like it is creating risk to the Buying Influence. Someone may feel his job is now less secure because of the expertise your company brings to the table; someone may perceive that your moving solution impacts the way he/she needs to structure their department; and a Buying Influence may just not trust that you understand his real issues of the relocation process. These issues may manifest themselves in the form of objections related to pricing or service quality concerns. But the real basic issues may still be in hiding.

For example, I recently had lunch with a CEO friend of mine who was talking to me about a large professional services firm that he was in discussions with. They did an analysis of his technology and concluded that his current Customer Relationship Management software system was only being utilized by about 30 percent of the sales force and therefore they were not able to effectively mine customer data and turn it into business intelligence. This firm guaranteed the CEO that they would double the utilization in the first year and that he would get a return on his investment in less than three years. The CEO was pressuring the firm to drop their price and now they were trying to figure out exactly where they needed to be in order to win the deal. On the surface the objection looked like it was a price one. In reality, the Basic Issue was that the CEO spent several million dollars about five years ago for the current CRM system and he sold it to the board by committing to them that they would get an ROI in three years. This clearly had not happened so imagine his trepidation of taking this idea to the board again, given his failure in the past. The basic issue the CEO has is really about his own credibility with the board rather than the price objection. If the sales rep is strong enough to surface this then they may be able to help the CEO work through their problem. Well, as I thought about this situation I thought about how the same objection can happen in the moving – relocation industry when a company or an individual is trying make a choice on which moving company to use. The bottom line  that I have learned sometimes to slowly is that skilled sales professionals need to be experts at understanding and eliminating resistance.

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Improve winning in sales for the relocation industry through better honorable deal management.

It’s in a salesperson’s nature to get excited about closing new business moving people and their families across this great world of ours. Winning a new client is a reason to celebrate. But, when looking for revenue opportunities, sticking close to home can have its advantages. Your current accounts would be a good place to start. You know their relocation -  moving business issues, you know why they decided to do business with you in the first place, and you have established relationships. When new leads – and resources – are scarce, the ability to drive new revenue from existing clients can be a great way to help ensure success. Are you confident that you’ve already uncovered the full potential from your existing client base? There are likely current needs your client has that you could be pursuing. You should approach helping an existing client with the same enthusiasm as you approach new clients.

Maintaining strong relationships with current accounts provides two key benefits:

• You retain the existing business
• You uncover new opportunities

This is not accomplished through just periodic check-ins or great customer service after the sale; it requires an ongoing commitment from you as you approach the moving industry and sales of these services as a honorable profession.

As opportunities become scarce, competition increases, so are you doing enough to protect that account? In this marketplace you can’t differentiate by moving services offering, you must differentiate yourself by the way you sell and the unique value you can provide. A salesperson who can understand a client’s moving business issues and help craft solutions that help the client succeed are valued and rewarded. Differentiate yourself through your ability to be a well-informed, trusted business resource. When you help your clients achieve their objective you both will win.

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“What is your greatest asset and how do you be prepared for all the surprises in life.?”

Most companies don’t think about taking better inventory of their customer base until the loss of a major client. Blindsided is the word we hear often when C-level executives share stories about the major client that walked away or surprised them with a dramatic decrease in volume.

Here are what I consider to be core components of a solid asset management program for your key customers:

1. Define the assets. Not all of your customers need or should be put into a rigorous asset management process. Set criteria for segmenting your most important accounts and choose those that are most strategic to supporting the health of your business. Best practice organizations look beyond just revenue contribution and include things like future growth potential, impact on operations, margin contribution, partnership orientation, and contribution to strategic initiatives like new product development.
2. Establish a protocol for tracking, managing and maintaining the assets. Strategic accounts always involve multiple internal resources to support. Implement a standard process and common language to get everyone on the same page and understand both the short and long-term objectives for supporting the account.
3. Capture the data. This isn’t just about whether or not to have a sales force automation solution. Have a solid data capture compliance plan for this segment that is unwavering.
4. Align the right people to manage and grow the assets. Top-performing organizations utilize assessment tools to better align talents to specific roles in the sales organization. Strategic account management requires a unique set of skills that combine selling, business acumen, the ability to collaborate with key resources and C-level interaction skills.
5. Create joint plans with your assets. Conduct periodic joint reviews that involve the client in strategic discussions that go beyond just satisfaction with service levels. Involve your strategic accounts in discussions related to new product initiatives and overall strategic planning. This forges relationships that go beyond vendor status.

A strong asset management plan for your most strategic clients is a sustainable best practice that you can leverage in good times and bad.

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