Are you overwhelmed with making an important decision? Recently we were discussing future opportunities and it was really hard to weigh out all of their Pros and Cons side by side because there were so many factors involved. The Best choice seemed elusive, as the options where very different yet complimentary at the same time.
Like any diligent person, we like to weigh out all of the options before making a decision about future investments. We know that if you want to succeed, you have to have both Speed of Action and a full understanding of the factors that will impact your success. We went “old school” and put together a weighted Decision Matrix to set out finding the answers to our question, “Which path is best for us?”
Our Property Decision Matrix offers you this strategic advantage with Real Estate. It allows you to quickly and effectively compare apples to apples and mathematically matches your preferences to your value systems. If you want to get ahead, this is the tool for you!
Strategic Advantages of Our Property Decision Matrix:
- Quickly and Effectively Compare Apples to Apples (or Apples to Oranges)
- Simultaneously Maps out the Pros and Cons of multiple Opportunities
- Provide Insight into your Personal Preferences and those of others (Partner, Spouse, Board, etc.)
- Easily Visualize large quantities data or information as it relates to your project
- Align your Success with your Personal Value Systems for Greater Reward
- Utilize Logic and Math to Override elements of human error in high stakes decisions
CURRENT AVAILABLE MATRIX OPTIONS (Shown in Tab Sections)
Simplified Property Version – Customizable to Any Property with sample Categories and #s. This one is great for Commercial Real Estate as well as fleshing out Multi-Use best case Scenarios. You could even use this to compare potential tenants or space options.
Residential Property Version – This has been customized more towards the themes we see come up in our Residential Real Estate division. The categories are changeable and start to outline the various factors many are looking at when considering Purchasing a Home with Southern Athena. We also included some we think everyone should consider….. 😉 Hello Hot Tub!!
HOW TO USE OUR PROPERTY DECISION MATRIX
- Start by filling in your Project Criteria in Column A taken from your Southern Athena Property Wishlist.
- List all criteria important to your decision in Column A (feel free to delete and add criteria to meet your specific needs).
- Add properties of consideration in the subsequent columns with their addresses and/or names. Then, rate the Importance of the Criteria included in Column B on a Scale of 1-100. This is your Importance Rating and shows your values.
- In each column assigned to the Property, input your opinion of value with a Scale from 1-10. This is your Preference Rating and shows how closely the property meets your criteria.
- The Weighted Sums will then tell you the best Property for your goals weighted based on your values.
- Bold and Highlight the highest Weighted Sum and that is the Property to choose.
Helpful Hint: You can add new criteria and Addresses, or duplicate sheets to include multiple people’s weighted decisions. It helps to rank each criteria individually without looking at other options for scale. Also your rating values do not have to equal 100 and can be duplicated values.
You can Edit and Change Your Own Matrix to Fit Other Various Opportunities in Life
We actual started this exercise with job opportunities and how each position could effect and align with a person’s values. Ie. Which is more important? Money, Benefits, Flexibility, Fulfillment, Opportunity for Growth, Culture, etc. There were simply too many factors and all of the positions had big time Pros, but also big Cons.
By looking at and assigning a Value to aspects of your life (Which can be very uncomfortable and eye opening!!!) you can then get a better understanding of the best solutions for you. Try it out for your next hard decision. Modify our matrix for your next remodel, move, tenant, college or job application, business or investment portfolio and find yourself making better decisions in life that you can feel great about.
