The word values in property has a specific meaning of course. However, in a wider context, the word ‘values’ has a deeper and perhaps even more significant meaning. Values are how the lens through which we see the world, a guide of how we want to conduct ourselves and a checklist on what we consider to be the most important things to us. Values are most apparent by our displayed actions and behaviour. Values are the ‘way we do things’ and our moral compass. They can also be challenged at times…
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Resources mentioned
Book references:
The Universal Laws of Success and Achievement – Brian Tracy
The Values Factor – Dr John DiMartini
Man’s Search for Meaning – Vikto Frakl
Long Walk to Freedom – Nelson Mandela
Today’s must do’s
Know your true values and live by them…even when there is a temptation to compromise on them at times
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Transcription of the show
Hello and welcome to another edition of The Property Voice Podcast, my name is Richard Brown and as always it is a pleasure to have you join me again on the show today.
One of the benefits of having these soundbite episodes in between seasons is that I get to choose the theme each week, depending on what’s going on at that time. It allows current themes, trends and issues to be shared almost in real time. In preparing for this today’s show, there was one recurring theme over the past week. I did not expect this to be what I would share with you this week, however, as I say, it’s what is current and topical and so plays a major part in my thoughts.
Today’s theme is all about values. I will share a little more on that in one sec…just stay right there…
Property Chatter
In property, we can often get into a single-minded way of looking at things when we use or hear the words ‘values’. Of course, it has a very direct and precise meaning for us as property investors – the value of our property, be it before or after we acquire it.
However, in a wider context, the word ‘values’ has a deeper and perhaps even more significant meaning. Values are the lens through which we see the world, a guide to how we want to conduct ourselves and a checklist on what we consider to be the most important things to us in life.
Values are often spoken or written words, but are more easily apparent through our displayed actions and behaviour. Values are the ‘way we do things’, our moral compass and a decision-making aid.
We will inevitably have values that we live by, whether we are conscious of them or not. However, it is my belief that we ought very much to be conscious of and aware of what our values are to avoid being blown around. I am sure you have heard the phrase, if you don’t stand for something, then you will fall for anything’. Values should be personal and meaningful to us and not simply what we expect other people to expect from us or worse, a platitude.
If you listened in last time, you will have heard me talk about natural and universal laws and how I promised to look into the subject even more. As education and self-development is very much a part of my own personal values, that’s exactly what I did. As a result, I am currently listening to Brian Tracy reading his book The Universal Laws of Success and Achievement.
There are several of these universal laws, which according to Brian Tracy, will govern our lives and importantly, also our results and outcomes. In fact, it was Brian’s words about the Law of Values that helped me to fully appreciate the difference between our stated words and our practical actions and behaviour. He describes the Law of Values as:
What you truly value and believe is only and always expressed in your actions.
Within the first chapter, which collects together a number of the universal laws that apply to success, are a couple of other very important laws:
The Law of Choice – You are always free to choose the content of your conscious mind, but in so doing, you are choosing every other part of your life.
That’s a pretty big statement already, but then consider…
The Law of Attraction – As a living magnet, you inevitably attract people, events and circumstances that harmonise with your dominant thoughts.
Tracy calls this law the ‘Granddaddy of all other laws’.
These laws, I believe are relevant when it comes to our values.
We can often understand a person’s values by observing what they do more than what they say. In reality, and if we want an honest insight it is what we do when nobody else is watching that reveals our inner-most values. Equally, when under extreme pressure or duress, we can end up forfeiting our values, particularly if the end result is extreme, such as survival.
I won’t dwell on the many examples in history, but I am sure you will understand what I mean when I talk about people like Mandela, Ghandi or Frankl and see how they stuck to their core values and beliefs no matter what the circumstances and pressure they were placed under.
Equally, interrogated prisoners, stranded aeroplane crash survivors or members of cults and sects, as depicted in the media are testimony to how we can be tempted to sacrifice our inner values under strong external influence.
Most of us are somewhere in the middle of these extremes, at least if my audience listener stats are accurate they are! However, we still have some ideals that are important to us and can also be challenged by an external force from time to time as well. I am not going to try and convince you that I would be a Bruce Willis die-hard hero if I had a gun held to my head.
And although I do not have a prisoner tale to tell you this week, I did have the need to reflect on some of my values and make a decision on a couple of occasions.
The first occasion, was a seemingly ordinary event when I was asked to provide a tenant reference. The situation is that this particular tenant was asked to leave at the expiry of their tenancy, as they were causing a number of problems to other members in a house share. A few terms of the tenancy agreement were broken and let’s just say that they had become a little challenging to host. Despite a few chats, some informal and then formal warnings, I had to invite them to leave and that’s what is happening right now.
But, you already know what’s coming next don’t you?
Yes, they wanted to go and live somewhere else and of course that means renting with another landlord. The reference duly came in…prior to the end of their tenancy with me.
I then had a dilemma that I am sure many landlords may have faced in the past. Provide a truthful reference and then risk that the tenant is refused the new rental, with them potentially staying on with continued problems in the property or perhaps seeking some kind of revenge instead. On the other hand, the potential new landlord is relying on me to give them the heads up and my reference might be the only real clue to their actual behaviour in their property. Having an accurate view, they could make an informed decision of course.
One of my values is honesty and so, I disclosed the fact that this tenant, whilst paying the rent on time, had also been a handful in the property which meant that I would not have them back again in the future. I tried to be both fair and balanced and not lean overly in one direction or the other.
Truthfully, at the time of recording this, I don’t know what the outcome is. However, it doesn’t really matter…I am at peace with the fact that I gave a fair but honest reference for this particular tenant. This is what I would like if it were the other way around. The universe will repay that honesty sure enough, whether I still have this tenant with me for a time or not.
The second situation that arose this week concerned my value of respect. Whilst, I won’t elaborate too much on this one, it was great to have a strong reference point by knowing respect is of significant importance to me. Whilst, financially there was a temptation to accept a compromise in this, sticking to and protecting my values was of far more importance. So, regardless of financial consequence that is what governed my response in this situation.
Once again, we shall have to wait and see what the long-term consequences of my decision and choice are. However, when I place my head down on my pillow at night, I rest easily in the knowledge that I did the right thing regardless.
Finally, as if I had not got the message this about this week’s podcast theme, we had a situation at home with one of our daughters to deal with. Again, without elaborating too much, the situation, whilst challenging…as I am sure many a parent can testify to…was at least clear cut when we leaned on our family values. Eventually, and given that our children experience our values consistently throughout their lives, peace and order was restored I am happy to report!
Returning to Brian Tracey for a moment and the Law of Attraction in particular, people will judge us both positively and negatively based on our actions and behaviour. It is just human nature. I do it and I am sure you do it too.
However, I am trusting that by staying true to my core values that I will attract people who share similar values to me. It does not need to be thousands, however, I hope that it helps to lift the bar within the property sector; even if just a little bit.
So how about you…have you faced a similar dilemma? If so, I would be interested to know how you dealt with it.
Do you have stated values that you live your life by or do you sometimes feel swayed by the wishes and intentions of other people?
Quite literally, my life changed once I truly grasped and applied the fact of living a life according to my own purpose and values. If you want a couple of book references that help to outline this thinking far more articulately that I can, then try one or more of these. The Values Factor by Dr John DiMartini, Viktor Frankl’s Man’s Search for Meaning, or for more of a story telling approach, Mandela’s Long Walk to Freedom. All three are at least part biographical and so are not just pop psychology theoretical in nature…these are stories of how these three people applied their values to their lives, despite some significant internal and external challenges to overcome.
As to the link and relevance to our property investment journey, I hope, is apparent…we do tend to get back what we put out, so why not put out what we would like to get back! You never know, it could be you providing the reference for one of my potential tenants next time J
I may have attracted some of you and repelled a few more, not necessarily as a result of today’s episode, but as I share with you more and more each week about my approach to property investing and indeed my values.
Of course, I could have shared a number of different personal examples on this subject, as you could too no doubt. I am curious though. How have you have faced and overcome challenges to some of your core values on occasion – what tools, strategies and techniques do you use to stay true to yourself?
By all means do drop me a line podcast@thepropertyvoice.net if you would like to share.
Meanwhile, that’s me done for another week then, the show notes, including some of the book references mentioned are over at the website www.thepropertyvoice.net
Being grateful and appreciative, which are obviously another couple of values, I’d like to say a big thank you for joining me on the show today and until next time on The Property Voice Podcast…it’s ciao ciao!