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A Prescription for Recovery

Written by Lewis Fein Posted On Sunday, 19 April 2020 05:00
A Prescription for Recovery

The real estate industry will recover. 

The economic losses will be immense, while the emotional costs will be immeasurable. But the industry will recover, no matter how long or hard the journey may be.

We will do all we can to revive the health of our nation and of our industry.

What we must do, today, is lead. 

Leaders within our industry must speak of the promise of tomorrow, or the day after a foreseeable tomorrow, when construction will resume, development will continue, and people will return to work. 

Leaders must be candid, too, because we need to hear the truth, the whole truth, and nothing but the truth. The truth about the status of the real estate industry. The truth about the challenges confronting landlords and tenants. The truth about financing and foreclosures. 

The truth is: We need leaders who can communicate often and well. 

We need leaders who can speak to what concerns us most—the life of our country and the nature of our livelihoods.

According to David Albanese, CEO of High Farms:

“The real estate industry encompasses everyone from individual homeowners to billionaire investors. But all of these people need information—news—to make the best decisions for the respective families and businesses. These people need good advisers who are also good communicators.”

Albanese is right: We need leaders with the confidence and credibility to speak about the real estate industry.

We need briefings, daily or weekly, about all relevant news. Whether the news is good or bad, whether it is good for some but bad for many, whether few welcome it or many fear it makes no difference—so long as the news is accurate.

If we do not have accurate information, we cannot know what to do. Which is why we need leaders who can deliver and explain the news.The delivery should be concise, the explanation clear, the conclusions obvious. 

Each of these things demands discipline, because communication is both an art and a science. It is an art in terms of performance. The choice of words, the repetition of phrases, the way a speaker sounds, the soundness of what a speaker says—each of these things belongs to the world of art.

The scientific part of communication comes from identifying the right audience, for the right message, at the right time. This effort involves research, data, and analysis. This effort determines the success or failure of a message.

Now is the time to join together the art and science of communication. 

Now is the time to unite leaders of all backgrounds and of almost every point of view.

Now is the time for leaders to speak to and for the real estate industry.

Leaders who seize this moment will do more than speak for themselves or the future of our industry. 

They will speak to our values and virtues. They will inspire us to renew our dedication and further our resolve, so the recovery we seek—the recovery we want—is the recovery we deserve.

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