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  • Writer's pictureJoani Schumaker

We're Not Suppliers, We're Partners, Damn It!

Today is all about celebrating the partnerships that drive success in the rental housing industry! So, let's talk about why we need to stop calling them "suppliers" and why the "National Supplier Day" needs a more modernized name.

At The Revenue Method, we believe in fostering genuine collaborations with owners and operators, creating mutually beneficial relationships that go beyond mere supply.

In our industry, it's all about teamwork and synergy. Owners and operators rely on us, just as much as we rely on them. We provide essential services and expertise, contributing to the success of rental properties. It's not just about supplying parts; it's about building lasting partnerships built on trust, support, and shared goals.

Let's dive into a glaring issue: access and pricing at industry conferences. Why is there such a stark difference between what partners have to pay compared to owners and operators? Why should a partner shell out nearly five times more to attend than an owner/operator, especially when we all reap the same tax deductions at year-end? It's time to ask: why do partners have to pay more to play?

But it doesn't stop there. Why are partners restricted from attending social events, expo halls, and nighttime gatherings unless they're exhibiting? Some of us don't need to showcase products or services to contribute, yet we're still denied the same benefits of conference participation.

As a CEO in the consulting realm, this discrepancy is disheartening. It's not just about the numbers; it's about creating an environment where partners can truly connect and collaborate.

Owners and operators want to engage with their partners, and vice versa. So why not make networking opportunities more accessible and inclusive? Let's ensure that everyone can benefit from these valuable interactions. If conferences need to adjust pricing, let's do it equitably across the board, ensuring fair treatment for all stakeholders. Let's open the doors to the expo and nighttime festivities to all who contribute to our industry's success. It's time to level the playing field and embrace true collaboration at every turn.

And NAA, it's time to step up your game. As leaders in the industry, your pace sets the tone for the entire sector. Get with the times! It's crucial to adopt more updated and inclusive terminology that resonates with today's workforce. Why cling to outdated terms like "supplier" when we can embrace more modernized terminology that speaks to the future?

Consider this: 76.5% of Gen Z prefers tech companies, while only 19% show interest in the real estate sector. This statistic should be a wake-up call. To attract top talent, we must align ourselves with the allure of the tech industry, which includes more up-to-date terminology.

In the tech world, they don't refer to their partners as suppliers stuck in the 90's. When Samsung provides a chip to another company, they're hailed as partners. When Applied Materials delivers innovative technologies such as chips and displays for various industries, they're recognized as partners, not suppliers.

Let's take a page from their playbook. It's time to shift our terminology to reflect the collaborative nature of our relationships. By embracing terms like 'partners' instead of 'suppliers,' we not only modernize our language but also signal to Gen Z talent that the real estate industry is forward-thinking and inclusive of their values and aspirations. Together, let's pave the way for a more dynamic and inclusive future in the rental housing industry.

So, 🌟 Happy National Partner Appreciation Day! 🌟This name better reflects the collaborative nature of the relationships in the rental housing industry. It acknowledges the mutual respect and support between partners, emphasizing the value of working together towards common goals. Let's celebrate the partnerships that drive success in the rental housing industry!

Until next time, here's to fostering strong partnerships and embracing a future of collaboration. See you when I see you.

~ J Schu

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