Over the past few decades, the multi-family industry has undergone a significant transformation. Companies are embracing new policies that boost profitability and productivity. As a result, the number of women in top-level roles has skyrocketed, bringing more diversity and inclusivity to the workplace. Despite these encouraging trends, women in executive positions still face unique challenges. As women rise to more senior and executive positions, they are expected to be highly accessible while juggling responsibilities at home. However, despite these hurdles, they continue to shatter glass ceilings and prove an invaluable asset to the industry.
One name that stands out in this regard is Barrie Nichols (Senior Vice President, Nelson Partners) whose adroit leadership skills are a driving force behind the company’s success in leasing performance, culture, and reputation in the industry.
Student Housing Space
Nichols’ passion for her career is rooted in her desire to take care of college students as they leave home and become young adults. For over 25 years, she has been a trailblazer in the student housing industry. She held leadership positions in leasing/marketing excellence at three major companies– GMH Communities Trust, Campus Apartments, and Michaels Student Living Management Company. She also studied digital marketing at Cornell University, expanding her knowledge of the subject.
Throughout her career, Nichols faced the challenge of adapting to changing market shifts and emerging digital strategies, particularly in reaching the student demographic effectively. However, with her expertise, she has been able to successfully navigate these difficulties and keep leasing platforms performing at their best. “We have all seen the Social Media Platforms evolve and ensure we stay relevant and authentic,” mentions Nichols.
Nelson Partners: A Leader in Student Housing
Founded in 2018 by Patrick Nelson, Nelson Partners, LLC is a fully integrated real estate developer and student housing owner-operator with more than a decade of hands-on acquisition, management, and development experience in student housing. Nelson Partners, LLC currently manages 18 properties in 11 states across the United States and has successfully developed millions of dollars in student housing properties by working with private investors. With over 500 million dollars in assets across eleven states, the company focuses on properties that are pedestrian to campus. With a simple yet powerful mission of becoming “people-centered” and creating a thriving company culture, it is a highly sought-after student housing provider. Nichols joined Nelson Partners in late 2021 when the company was rebounding from the pandemic and reorganizing its leadership team.
An Adroit Leader
As the Senior Vice President of Sales and Marketing, Nichols focuses on improving the company’s reputation and creating a thriving company culture. In addition to this, she works to maximize rental revenues and achieve occupancy goals for the company. Her wealth of experience in successful leasing and marketing strategies and platforms is a testament to her leadership skills. Currently, Nichols is in charge of the branding and marketing endeavors of a project at Utah State University. Nelson Partners will manage a beautiful new student housing facility that is the best-located property in the market. It features oversized units with private suites and unparalleled interior finishes. Her commitment to cost efficiencies and strategic initiatives ensures that Nelson Partners remains at the forefront of the student housing industry.
Leading with Creativity and Collaboration
The student housing industry constantly evolves, and Nichols stands out with her unwavering commitment to creativity and collaboration. As the student demographic is highly tech-savvy, she knows that reaching and engaging with them requires innovative approaches. Catering to this, she has involved herself in this interesting procedure. Moreover, establishing a brand by creating a positioning statement and logo is a fulfilling process for her.
While talking about her journey, Nichols mentions, “To see your vision come to life, I have had the privilege of working with architects, developers, interior designers, and graphic artists, providing valuable insight into new projects from a leasing and resident experience perspective.”
Nichols aims to provide a superior living experience for students who want to live off-campus. With approximately 2.84 million beds available and roughly 87% of students living off campus, the competition is fierce. However, she is determined to stay ahead of the game.
No Time for Negativity
Success comes with difficulties and negative experiences. Nichols also acknowledges that there are still challenges in the industry, such as competition trying to tarnish a company’s reputation to boost its image. However, she believes she never had to make someone look bad to be successful. She states, “There are always “haters” in any field but who has time for negativity?”
A Million Dollar Achievement
Nichols has been recognized for branding and marketing over $2 billion in assets, including the Apex in Rochester, New York, and Zoey in Austin, Texas. Apex recently sold for a whopping 161 million dollars to Harrison Street in January of 2022. Success in student housing requires a large team and Nichols takes pride in her experience mentoring others. She has watched those mentees ascend to senior and executive industry roles. Moreover, she had the distinguished honor of serving as a member of the USF Digital Advisory Board, a finalist and judge for the NAHB Pillars of the Industry Awards, and a member of the Modern Message Advisory Board.
Successful Teams, Successful Leaders
Team building and motivating employees are vital to the company’s success. “It’s not me it’s the ‘we team’ mentality at Nelson Partners,” adds Nichols. Most importantly, she understands the value of listening to on-site teams to improve the resident experience and customer satisfaction. Moreover, Nichols advocates the power of a group of people working together towards a shared goal. She not only recognizes that a team is an organization’s most valuable resource but also supports and empowers them for success.
Nichols believes, “To build a great team you have to invest in your employees, trust and empower them.” She shares some powerful tips:
- Set clear expectations and follow up with the necessary tools to ensure success.
- Be completely transparent with your team.
- Share information about your common goals to achieve success together.
- Give credit where credit is due.
- Involve all in sharing best practices.
Additionally, the company has National Weekly Team huddles to share ideas and highlight success stories.
Balancing Work and Life
Being an experienced leader Nichols knows the value of work-life balance. Along with handling long hours and national responsibilities, she emphasizes the value of prioritizing what is truly important. To stay refreshed and focused, Nichols encourages individuals to practice self-care and make time for themselves. She sets up deadlines for responding to work emails. She also implies unplugging from social media on weekends and spending quality time with family and friends, making memories.
A Piece of Advice
Nichols’ advice to future women business leaders is practical and inspiring, Follow your passions and never let anyone dull your sparkle. Her success is a testament to this philosophy. She learned the value of listening and being open to change and suggestions from her team. Just like this, by embracing feedback and constantly seeking to improve processes, leaders can gain their team’s buy-in and achieve success together.
Quote
“Great things will happen when leaders recognize that their team is the organization’s most valuable resource.”
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