EPM: Ask The Expert

  • How to achieve the best outcome of your lead source through dialogue

    Q: My BDM seems to be avoiding prospecting. Initially locating leads and having access to data was the challenge (excuse) when not hitting prospecting targets, but now it seems she is struggling with dialogue. What do you recommend? A: When it comes to dialogue, keeping it simple makes it effective for the potential prospect and more natural for the prospector. It also means that you can increase the volume of calls and connections, …

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  • How to effectively switch software platforms without losing data

    Q: We are about to integrate to a new trust platform. How do we make it as seamless as possible? A: Every week it seems that we are having discussions with property management teams who are trying to make key decisions around which software program they would like to move to. There are a lot of choices out there. While that choice may not be simple, …

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  • How to stay productive in the lead up to the silly season

    Q: It’s almost the end of the year and I am feeling overwhelmed. I don’t know where the year has gone. Help! Ain a society where consistent connection into the matrix has become the new normal, it can be easy to become overwhelmed. As we head towards the end of the year, it is wise… …

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  • Incentive structures for BDMs and how to calculate packages

    Q: What incentive structures do you recommend for a BDM? A: There are many incentive structure options. However, my preference is to incentivise on both volume of results and revenue generated. Of course, consideration also needs to be given to the base package and allowances in place for the individual. The structure must also motivate the BDM and make financial sense for the business. …

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  • Top 5 areas to monitor in property management

    In all areas of business, what gets measured gets done, and of course Property Management is no exception. But with so many areas, it can be difficult to know what to measure. Whether you love or hate numbers, knowing the position of your business and the metrics for success is imperative. Of course, these numbers… …

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  • 7 tips for property managers to decrease stress and increase productivity

    Having just entered the new financial year, now is a good a time to take stock of the health of your portfolio and consider some of the following areas: Rent reviews and lease renewalsUpdate in line with the current market and ensure tenants are on fixed-term leases. Repairs and maintenanceHow many outstanding work orders are… …

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  • Ask the coach – How to encourage the sales team to send more PM leads

    Sales referrals into our PM team have really slowed over the past few months. How do I encourage the sales team to send me more leads? The great news is that after winter, the spring selling season provides increased opportunity in property management and sales. Firstly, you need to get back on the sales team radar. Make sure you are attending each sales meeting and you have a space on the agenda to provide results and investor-specific information to the sales team. …

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  • Ask the coach: How to stay on top of the repairs and maintenance process

    Q. My repairs and maintenance always seem to be out of control. How do I get on top of this process? In terms of property management, it can sometimes be what feels like a never-ending mountain. Having a sound process in place to handle maintenance can really save you time and stress down the track. Data is your goldmine, so ensure that any repairs and maintenance is entered in your software for tracking and follow up. …

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  • Should you buy or build your rent roll?

    To buy or to build? That’s one of the age-old questions on many a principal’s mind when it comes to property management. Should they build their property management division from scratch, or will purchasing a rent roll offer the potential of sales and income stability that’s worth the investment? If you’re considering acquiring a portfolio, there are many factors you’ll need to think about that go well beyond your monthly fees invoiced. …

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  • Ask the coach – Supporting new leaders

    Q: I’m a Principal used to managing the PM team, and I’ve just employed a new team leader. How do I step back and allow them to be successful? A: Stepping back and handing the reins over to someone new is a challenge, especially if that person is new to the leadership space. If they are an existing team member, there is also the challenge of moving from a property manager to a department manager. …

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  • Ask the coach: How to manage landlord and tenant expectations more effectively

    Q. I’m receiving an increase in complaints about communication. How can I help my team manage landlord and tenant expectations more effectively? Communication and expectations: Two words that, in the property management world, affect everything we do. Unfortunately, there is not a checklist to follow to simplify and streamline this part of a property manager’s role. First, set communication standards for your team. …

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  • Ask the coach: How to maintain a sense of urgency in the letting process

    Q. My team seems to get busy with ‘PM life’ and forget the importance of urgency during the letting process. I think sometimes enquiries are missed. How can we improve in this area? The first thing I would suggest is that you ensure you have a clear set of minimum standards when it comes to the leasing process; namely, that all enquiries are returned within the same business day and that all applications are turned around within 24 to 48 hours. …

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  • Ask the PM coach: How to increase your strike rate with out of area investors

    Q. Increasingly, our market is seeing out of area investors, many of whom I never get the chance to meet before they select a managing agent. How can I increase my strike rate? Great question. First up, be the area expert. Consistently provide value, add information and ensure you have secured multiple contact methods for keeping in touch. Once it comes time to list the property, …

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  • Ask the coach: How can I implement what I learn in training?

    Q. I’ve realised that most of the training I did in 2018 hasn’t really stuck and I’ve fallen back into old habits. How can I get better about implementing the things I learn in training sessions and conferences while juggling my property management workload? It can be challenging when you are attending so many training sessions and learning, as well as juggling your everyday workload, …

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  • Ask the Coach: How to make your team goal-focused for 2019?

    Q. I know that growth needs to be a focus for 2019, but I don’t know where to start to make sure the team are on board with this goal. When considering growth my first question is always, ‘Why do you want to grow the portfolio?’ Be clear on this as it’s important to get the team on board. You will then need to look at the numbers required over the 12 months. …

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  • Ask the coach: How to be organised in lead management and what tech tools to consider for a BDM

    Q. My BDM embraces prospecting; however, she is completely disorganised when it comes to lead management. What technology should I consider supporting her with? When it comes to tech tools for a BDM, the most crucial is always a phone! Second to that is a way to manage leads, and selecting what works best will be different for every business. Firstly, …

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  • Ask the coach: How to fully maximise the use of the technology to be more efficient in your work

    Q. I have so many different programs to use on a daily basis and still the emails and calls don’t stop! Where can I make our tech more efficient? Day to day property management demands and the changes that are constantly happening with technology can at times be incredibly overwhelming. One of the things that we can do in trying to get on top is to first take a look at the current technology that you are using and see that you understand how to use it and to its full capacity. …

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  • Ask the coach: How to know if you’re ready to implement new technology

    Q. My team are always wanting to implement new technology. How do I know what we really need? It’s easy to get distracted by that bright shiny object that promises to ‘make life easier’. Your teams are constantly inundated with an abundance of new technology promising to save time, improve communication, create better reporting… the list goes on! Whilst I am certainly one for implementing technology and cutting corners to save time (without increasing risk!) it’s important that what is used is effective. …

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  • Ask the coach: How to transition into a leadership promotion

    Q. I have recently been promoted into a team leader role. How do I get on top of my time management with the added workload? Firstly, congratulations on your promotion and jumping into the next phase of your career! While it can be exciting to begin a new role, it can be daunting as you try to take into account all the new responsibilities it brings. …

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  • Ask the coach: How to provide better support your team as a selling principal

    Q. I’m a selling principal who doesn’t have the time to spend every minute in my property management department. How can I better support my team?  As leader, your time will always need to be distributed across many areas and you need to wear many hats. When you have an income-generating role as well this can easily take precedence. Supporting your team doesn’t mean you have to be physically present every day, …

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  • Ask the coach: How to keep your BDM accountable for better results

    Q. How do I hold my BDM accountable to get better results? The first step to holding any team member accountable is being ultra-clear on your expectations. What does success look like in their role? As a leader, determining the success measurement for a BDM starts with identifying what has been achieved up until now and setting a goal that will stretch the BDM, …

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  • Ask the Coach: How to be prepared for a Tribunal

    Q. The thought of Tribunal and the process is daunting. How can I be more prepared? One of the first things to remember is to breathe. Tribunal is one of those areas in property management that can prove challenging and often is entwined with an element of stress. One way of reducing that stress is your level of preparation. Being well prepared will help you maintain composure and ultimately assist in achieving the best possible outcome for your client. …

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  • Ask the Coach: How to keep your team motivated and incentivised

    Q. My team are all at different stages of their careers. How do I keep them motivated and incentivised? As you look at your team, I have no doubt that it is made up of a range of personalities, ages, experience levels, skill sets and generations. As a leader of a multi-generational team, it’s important to recognise that everyone in your business will be driven differently. …

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  • Ask the Coach: How should BDMs schedule their prospecting?

    Q. When is the best time of the day and week to prospect? Firstly, if you are serious about rent roll growth – every day! Full-time BDMs need to be cultivating new leads and working their database every day of every week. Secondly, when we are looking at what time of the day is best and how much time you should be spending, …

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  • productivity time clock

    Ask the Coach: How to set priorities to maximise your time and accomplish more

    Q. I can never seem to find enough hours in my day and my workload just seems to be increasing with the demands of my clients. How do I find more time? One of the first things to remember is that we all have the same number of hours in the day. It’s what we plan for and set about to accomplish that can make the difference in how much we get done. …

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  • Ask the Coach: How to be effective and productive in your next team meetings

    Q. Our team meetings have become boring and unproductive. What can we do differently? So often we can walk away from a meeting feeling like we haven’t achieved anything at all. When the same people meet, week in, week out, to discuss the same matters with the same structure, the meeting can easily become boring, uninspiring and unproductive. Then add to the mix the same voices rising over the others and the same people who say nothing at all. …

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  • Ask the Coach: How to start a conversation to begin prospecting open home attendees

    Q. My principal wants me to begin prospecting our sales open home attendees. What should I say to them? When it comes to leveraging your sales team, direct referrals from salespeople will only get us so far. Your principal is 100 per cent correct that having the BDM contact all open home attendees, not just those directly referred by sales, is a sure-fire way to increase the number of leads generated. …

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  • Ask the Coach: How to work with your sales team to generate referrals

    Q. How do I foster a better relationship with my sales team to generate referrals?  The first question a sales person will ask is ‘What’s in it for me?’. Salespeople have a job to do: they must list and sell homes to get paid. This is their number one priority. So how do we make it attractive to refer across those all-important investor leads? …

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  • Ask the Coach: How to Improve Your Customer Service

    Q. What can I do to improve the service my team delivers to our clients? We know that our business is dependent on our clients and their experience. What they do or don’t say (both on- and offl ine) has an effect, not just on the property management team, but the business as a whole. Of course, this means your team’s attitude, …

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  • Ask the Coach: How to be more Productive and Reach Business Goals

    It’s only fair that our EPM readers get their questions answered in the same way that our Elite Agent readers are able to ‘Ask the Coach’. Ready to help in 2018 with no question too big or too small is the expert coach from Real+, Heidi Walkinshaw. Q. I know there is opportunity for my team and me to be more productive, …

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  • PM Profile: Kylie Harbo, Davey Real Estate WA

    Kylie Harbo of Davey Real Estate is this year’s REIWA Residential Property Manager of the Year. With a mantra of ‘Excellent service’ she is an industry leading Business Development Manager and also manages a portfolio, albeit a small one at 60. She is as comfortable working single bedroom units as she is working up to $1,500+ per week mansions. Currently on maternity leave with daughter number one, …

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  • Work Health and Safety

    Whilst much of our conversation in this column extends to the recruitment and retention of your greatest asset – your team – we tend to focus on everything but a glaringly obvious driver for their happiness in your organisation: safety. After much discussion around safety in the workplace during 2012, it is an opportune time to visit this all-important topic before it gets completely overlooked and you and your business come under further risk. …

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  • A Match Made in Heaven

    Whether you are an employee or an employer, this month our experts look at how to find your dream job or ideal staff member. As a young girl in my Year Seven science class I can remember girls chatting away about their dream man! Doodling names of boys on notepaper, conducting the all-important ‘love’ quiz from Cleo and pasting images of pop stars on folders: all of this was leading us to the snapping up of our perfect man. …

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  • The Perfect Fit

    This issue, our experts Fiona Blayney and Melissa Karatjas discuss how you can select the right person for the right role. According to the Australian Bureau of Statistics, the unemployment rate for August 2012 was 5.2 per cent with a labour force participation rate of 65.2 per cent. With a search criteria of ‘Residential Leasing & Property Management – Australia wide’ generating 1,320 listings on seek.com, …

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  • Blue Ocean Recruitment

    Blue Ocean Recruitment: Thinking outside the square when it comes to finding new staff. It was in the recent issue of Leased Magazine that Fiona introduced ‘Blue Ocean’ property management. The concept of a ‘Blue Ocean Strategy’ originated with the work of W Chan Kim and R Mauborgne in the book of the same name. A Blue Ocean Strategy is one where the fundamental business principle consists of leaving behind your competition by creating an uncontested market. …

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