Key takeaways
Lessons from 50 years of building Shindico
- Let your mission make decisions for you. Because Shindico’s mission is succeeding by helping others succeed, a receptionist can approve a tenant’s small sign request without passing it up four levels.
- Offer one level of service. Shindico takes on select third-party management only, so it never has to race to the bottom on price or stretch its people thin.
- Invest in research. Shindico keeps three people in marketing and research and codes every tenant by industry, so it knows its exposure to groceries, convenience, or fashion at a glance.
- Relationships come first. Location matters, but Sandy calls relationships the three most important aspects of real estate.
- Train in person. Everyone can work remotely when needed, but Sandy finds mentoring and training work best when people are in the office together.
About the guest
SS
Sandy Shindleman
Founder and CEO, Shindico
Sandy founded Shindico, the Winnipeg development, brokerage, and property management company. He grew up working in his family’s grocery store, abattoir, and feedlot in Portage la Prairie and was licensed as a real estate broker at 18. Shindico now manages about 5 million square feet.
Episode summary
In this episode
Sandy Shindleman started in real estate at 18, selling farms and small commercial properties before developing his own projects. With no money to hire anyone, he managed those early buildings himself, and property management has been part of Shindico ever since.
He walks through the mission that guides the company, the decision to offer only one level of service, and the people he has promoted so the business can carry on without him. He also shares how Shindico uses research, in-house legal, and tenant data to manage risk across its portfolio.
Sandy closes with advice for new property managers and developers: listen more than you talk, study properties that work and ones that do not, get as much education as you can, and do not be greedy.
Chapters
- 0:00Introduction and advice
- 0:44Sandy’s story
- 2:16Mission and philosophy
- 7:20Operational growth and structure
- 10:46Portfolio and expansion
- 17:18Keys to success
- 20:48Business integration and impact
- 27:26How the industry has changed
- 35:40Working through COVID
- 37:35Advice for new property managers
- 39:13What Shindico looks for in janitorial
- 42:34Book recommendation
Jump to a chapter (12)
- 0:00Introduction and advice
- 0:44Sandy’s story
- 2:16Mission and philosophy
- 7:20Operational growth and structure
- 10:46Portfolio and expansion
- 17:18Keys to success
- 20:48Business integration and impact
- 27:26How the industry has changed
- 35:40Working through COVID
- 37:35Advice for new property managers
- 39:13What Shindico looks for in janitorial
- 42:34Book recommendation
From the conversation
Transcript excerpts
Our new one is succeeding by helping others succeed and every word is important there.
Sandy ShindlemanPlay from 5:20
We think the three most important aspects of real estate are relationships, relationships, relationships.
Sandy ShindlemanPlay from 20:05
You have two ears and one mouth. You should listen twice as much as you talk…
Sandy ShindlemanPlay from 37:58
Need a cleaning partner who does the full job?
We’ll walk your building with you and send a written cleaning scope and price. Free, no obligation.
Read the conversation
Full episode transcript
Show transcript
Paste the edited transcript here.
FAQ
Questions about this episode
What is Shindico's mission statement?
Succeeding by helping others succeed. Sandy says every word matters: the company succeeds because it helps tenants, partners, and staff succeed, and that lets staff at every level make helpful decisions without escalating them.
What does Sandy look for in a janitorial company?
Shindico hires few janitorial contractors directly because most of its tenants arrange their own. When it does, Sandy wants people who are respectful and do the full job rather than as little as possible.
What book does Sandy recommend to property managers?
The autobiography of William Zeckendorf, the New York developer behind Place Ville Marie. Sandy says it showed him how to dream bigger about things that had not yet been built.
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