A Strata Manager said to me the other day that “I don’t want COVID to end. Doing AGM’s by Zoom is magnificent”.
Who had heard of Zoom before COVID? We had introduced it as part of our legal services offering when providing advice but had never played with it in terms of delivering services. Who would have thought the rigid Strata industry would have implemented something so innovative. Like online Auctions, COVID has been the best business environment for Zoom. It may not have been in their business planning, but I don’t believe it was considered a crisis.
It stands to reason that Zoom meetings have been successful for Strata Managers;
It is more efficient. A Strata Manager can conduct very large Zoom meetings from their office without the travel time.
Because it is on Zoom, all Zoom meetings are recorded and therefore people cannot be verballed.
The Agent is in their office and has everything at their fingertips. Hence, questions are better answered from their desks.
Zoom meetings are more inclusive. Instead of proxy voting, people can attend meetings from anywhere in the world.
Zoom meetings are safer for the Strata Manager.
When you include the concepts of efficiency, and inclusivity and safety, COVID has changed the Strata industry forever. Unlike face to face Auctions, face to face general meetings will only exist in special circumstances. Although many will want to come to a face to face meeting, the increased costs that Strata Managers will pay for face to face and a better result that Strata Managers achieve from Zoom meetings, it is hard to see why face to face meetings should occur in the future.