196: The Allison DiSarro Approach: Why Banking With A Personal Touch Matters
Feb 7, 2024
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Allison DiSarro, expert in relational banking with a unique approach to property management banking, discusses the significance of building connections in banking, evolving banking services for property management, the critical role of compliance and trust account management, navigating the challenges of PPP loans, the importance of specializing and knowing your niche, and offers final thoughts and advice for the younger self.
Building personal relationships in banking is crucial for success and sets a banker apart from others in the industry.
Property managers can benefit from tailored financial solutions, compliance support, and exceptional customer service when choosing a banking provider for their business.
Deep dives
Building Personal Relationships in Banking
The podcast episode discusses the importance of building personal relationships in the banking industry, which is often seen as transactional. The guest, a property management banker, explains that she prioritizes relationships over transactions and focuses on providing valuable resources and expertise to her clients. She believes that being a consultative resource and admitting when she doesn't know something strengthens her credibility and builds trust with her clients. She also shares the benefits of her deep knowledge in property management banking, such as compliance expertise and tailored financial solutions. By putting herself in her clients' shoes and leading with empathy, she has developed meaningful connections that have helped her succeed in the banking industry.
The Value Proposition for Property Managers
The podcast discusses the unique value proposition offered to property managers in terms of banking services. The guest explains that property managers can benefit from monetary advantages, compliance support, and exceptional customer service. She specifically mentions an analysis program that allows property managers to earn credits based on their banking relationship, which can offset transaction fees and be used as non-taxable income. Additionally, she highlights the importance of proper trust account compliance and protection against legal challenges, noting that her bank prioritizes these aspects. With over $2.2 billion in property management deposits, she clarifies that her bank caters to a variety of property management sectors, such as single-family, HOA, multifamily, and commercial.
Handling Fear and Uncertainty in Business
The podcast episode delves into the guest's personal journey in overcoming fear and navigating uncertain times in her career. She shares that experiencing personal hardships forced her to reevaluate her approach and focus on self-care. By putting her own well-being first, she discovered that it positively impacted her relationships and professional performance. The guest emphasizes the importance of acknowledging limitations and being transparent with clients when she doesn't have all the answers. Her ability to provide valuable expertise within her niche has earned her clients' trust. She also reflects on the power of manifesting one's purpose and finding meaning in their work, rather than solely focusing on monetary success.
Advice for Standing Out in the Industry
The podcast episode concludes with advice for vendors in the industry who are striving to differentiate themselves. The guest suggests that focusing on a specific area of expertise and excelling in it can be more valuable than trying to know everything. By being upfront about areas where they may lack knowledge and referring clients to other trusted resources, vendors can build credibility and trust. The importance of being a consultative resource and maintaining a reputation for being knowledgeable in one's area of expertise is highlighted. The guest also emphasizes that success comes from having faith in oneself and taking personal responsibility, rather than relying solely on others for success.
Welcome Closers! Join us in this insightful episode of the Profitable Property Management Podcast as host Jordan Muela speaks with Allison DiSarro from Enterprise Bank & Trust. Dive deep into the significance of building connections in banking, how Allison's unique approach to property management banking sets her apart, and the impact of empathy on client relationships in business.
00:00:00 - Introduction to Allison DiSarro and the theme of relational banking.
00:01:03 - The uncommon nature of personal relationships in banking.
00:10:14 - Evolution of banking services for property management.
00:15:17 - The critical role of compliance and trust account management.
00:24:21 - Navigating the challenges and opportunities of the PPP loans.
00:34:32 - The importance of specializing and knowing your niche.
00:43:10 - Final thoughts and advice for the younger self
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