EPM: BD & Growth

  • Michelle Williams: At Home with Property Management

    It has been an incredibly busy few years for @home Property Management Solutions. They have built an outstanding reputation for service excellence and have won many awards. Co-owner Michelle Williams recounts how their successful and respected brand was built during challenging economic times. The BeginningWe realised there was potentially a niche in the local real estate market to offer a specialist property management service, …

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  • Turn today’s problems into tomorrow’s road map

    Knowing your business’ strong points and weaknesses can determine your long term success. I speak with a large number of business owners and heads of property management on a regular basis, and we often end up talking about data and its importance. Now, before your eyes glaze over and you think, ‘Wow, I don’t want to be caught sitting next to you at a dinner party’, …

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  • How to attract new landlords in 2020

    The end of the year gives most of us a chance to wind down and really kick into holiday mode, but the same can’t be said for many Australian renters and landlords. January is consistently the busiest time on realestate.com.au for renters. In fact, in January 2019 we had over 20 million visits to our rent section, according to Adobe Analytics. …

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  • It can be hard to know where to cut costs

    Jo-Anne Oliveri: Win the cost war

    When it comes to your property management business, there are good costs and bad costs. Good costs provide a return on investment (ROI), while bad costs negatively impact your profitability. Here are some of the most common costs and why they are good or bad expenses. GOOD COSTS TRAINING Training is a good cost and a good investment. Effective training can increase productivity, …

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  • Know your numbers

    It can be hard knowing which financial figures you should measure, monitor and manage in your property management business. As the business owner, you have a responsibility to know your agency’s numbers so you can keep everything on track. Here are five financial figures you should know in your property management business: 1. AVERAGE WEEKLY OR MONTHLY RENT You should always know your market area’s average weekly or monthly rent. …

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  • Good tenants: The key to landlord satisfaction

    With one in three Australians now renting, creating a great experience for tenants is more important than ever. Renting is often the start of someone’s property journey, so it’s a great opportunity to build and nurture a relationship for the future, where they will buy, sell and buy again. Finding the best tenant isn’t always easy, but with a clear strategy in place you can dramatically improve your chances of getting the right tenant and keeping your client happy. …

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  • Focused on growth: Kurtis Pirotta

    Carl Bard once said, “Although no one can go back and make a brand-new start, anyone can start from now and make a brand-new ending.” I would like to share three key ideas that give you the opportunity to rethink what you’re currently doing, evolve your knowledge and skills to stay ahead and inspire your team with new strategies to grow. …

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  • Onshore, automate or offshore? : Brock Fisher

    Most businesses could do with saving a few dollars, a good way to do that is to review your systems and find more cost-effective solutions. The proliferation of rideshare options is a simple and excellent example of how paying more for a service doesn’t mean that you have a better experience or get better value. Does paying more for the creaky and stinky Prius that has done 800,000 kilometres result in a better journey? …

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  • 5 ways property management needs to change

    The 2018 Voice of Australian Property Management report found that property management is suffering from a high level of disillusionment and defection from the industry, with the bulk of those employed in the sector passive about their roles. Here’s what needs to change in 2019: 1 How we work needs to change The data revealed that while most property managers (60 per cent) work a typical 40 -hour week, …

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  • Is it the right time for you to change roles?

    You can’t say when it began exactly. You were happy in your role,  and the culture of your organisation felt a perfect fit. But somewhere along the way a nagging sense of discontent has crept into your daily experience at work. Sunday nights feel depressing, and you might be feeling bored – or worse – angry. If this sounds familiar, it’s likely you’ve reached a stalemate in your professional growth. …

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  • 52 Ways to Kickstart your Career in 2019

    What if I told you that you could have anything you want in your career if you were prepared to do one thing? All you have to do is focus on one key strategy each week for the next 12 months, and your year will be even bigger and better than you could ever imagine! Here are the steps to help you get the most out of 2019. …

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  • You have to spend money to make money: Penelope Valentine

    Advising your clients on how to maximise their rent is a key component to any great property manager’s role. Sometimes this means they need to spend some money, and it can be a difficult conversation. Here are some tips on how to do that in a way where everyone’s a winner.   Start as you mean to go on As part of our investor induction we highlight the fact that maintaining the property to its maximum potential is going to require a cash injection from time to time. …

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  • How to find your 75 things and secure more business

    Property management has and always will be about serving people. We can get so caught up in a world of legislation and compliance, that we forget many of our landlords aren’t always aware of what we do and why we do it. Property managers have an opportunity to exceed expectations and deliver an exceptional consumer experience by having a point of difference. …

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  • Do you want insurance with that?

    Upselling, value-adding and alternative income streams are all part and parcel of modern-day business. The business growth strategy du jour is ‘adjacencies’. Adjacency is a strategy where a company looks outside its boundaries for new sources of income, moving into related areas that use and reinforce its core business. In real estate, the most common partnerships are with related services such as mortgage broking, …

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  • How to deliver a confident listing presentation

    I recently conducted a role-play session during a workshop where I was the BDM and one of the attendees was the property owner. I had the frightening pleasure of being back in the hot seat again and, just quietly, I loved it! I also had the attendees provide feedback, which not only opened my eyes to my performance but also opened a conversation about what is most important to the consumer when selecting an agent to manage a property. …

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  • Property Management in the Year 2058

    Cast your mind back forty years to the real estate industry of 1978 in Australia. Being a relatively youthful industry, you might not remember the ‘bad old days’. They were light years from the profession we know and enjoy today. Whilst some things remain the same about success in real estate – prospecting must be part of every day, timely communication and great customer service is everything – much of the agent or property manager’s ideal day has changed. …

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  • Tara Bradbury: Make the call!

    Over the last few months, I have been visiting offices to conduct coaching sessions where agents have allowed me to observe their phone prospecting. While sitting on the sidelines, I found a common trend that makes these sessions more difficult than they need to be, and passed along my tips to ensure the best possible result on future calls. Do you find yourself: Responding to conversations happening across the office that have nothing to do with you? …

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  • Natalie Hastings: Should They Stay, Or Should They Go?

    Property management is a people business, best suited to those natural problem-solvers with a positive disposition and a flair for collaboration. But what happens when you do your very best time and again, yet find your days disturbed by an aggressive landlord who is impossible to please? Many principals are loathe to ‘sack’ a landlord – even if their behaviour is atrocious and damaging to team culture. …

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  • MVP: Why An Insurance Broker Can Be A Great Asset To Your Business: Sharon Fox-Slater

    “You don’t know what you don’t know.” It might sound like an off-hand statement, but it is really at the heart of why real estate professionals should partner with an insurance broker to help them protect their businesses. The risks facing real estate businesses are diverse and insurance can be complex, which is why engaging the services of a broker who understands the intricacies of the industry (including relevant legislation and best practice) makes good business sense. …

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  • Tara Bradbury: Empowering through Incentives

    Going into offices and discussing ways you can encourage the team to get on board with the rent roll growth plan is a part of my business that I really enjoy. These visits allow me to speak with the different departments and get their feedback on how things are run. Recently, a comment was made to me describing property management departments as “the new black”. …

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  • Natalie Hastings: How to Set Your Property Management Team’s KPIs

    From financial goals to client satisfaction, here is your cheat sheet for setting team KPIs. When it comes to setting goals and KPIs, the sales side of real estate practice is familiar with the process – successful at it, even. To be fair, goal-setting in sales departments is a streamlined deal in comparison to the complexities of property management. My advice is commit to taking a full day out of your property management department to set your goals for the next 12 months. …

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  • Beyond The Discount

    WHEN IT COMES TO INCREASING income into property management departments, the industry can be its own worst enemy. Often sales-focused principals apply a volume mentality to their rent roll asset, chasing relentless growth because they believe bigger rent rolls are the only way of increasing their overall bottom line. But a focus on value-adding could be a better way to amplify revenue, …

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  • How to Build a Tribe of Referral Partners: Tara Bradbury

    Referral partners can make your job as a BDM a whole lot easier, but where do you find them? Business Development expert Tara Bradbury tackles the tricky subject of asking for referrals from local businesses. The most common question I get asked is, “What is the fastest way to grow the rent roll?” To be honest, if I could wave a magic wand, …

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  • A Simple Roadmap to Review your Business and Reap the Rewards: Alister Maple-Brown

    What can we learn from past performance? Often when looking forward we forget to take the lessons from the past. Reviewing your people, processes and systems is a great way to understand what does and doesn’t work for you, and will put you in a strong position for growth in the year ahead. Here’s are my eight simple steps to review your business. …

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  • How to set realistic KPIs for BDMs: Tara Bradbury

    Nothing creates a feeling of defeat as much as setting unrealistic expectations for ourselves does. Few BDMs are aware of how they often set themselves up to fail by developing unattainable goals; losing themselves in a cycle of disappointment and negative self-talk. But fortunately, there is another way, says Tara Bradbury. WHAT IS fascinating about the phenomenon of unrealistic goal setting is how much it affects the high achievers and those who have a strong desire to reach their goals. …

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  • Why Christmas is the best time to market your rental property: Danelle Hunter

    When you put your best foot forward and position a property correctly, tenanting it over the holidays can come with a whole host of added benefits. Here are my top three reasons as to why Christmas is one of the best times to market a rental property. The timing is right Not only are most potential tenants on holidays by this point, …

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  • Documents and Details: Debbie Palmer

    Selling a rent roll can happen for a number of reasons, and can be due to unforeseen circumstances that take people by surprise. When this happens, tidying things up – if they have not been looked after – is often not a quick process. Not only that, for a potential buyer who is in a position to choose, viewing your rent roll vs one that has everything in order can be the difference between viewing a derelict property vs one that has been well-maintained and cared for. …

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  • Growth: Just a Phone Call Away

    The future growth of your rent roll is a simple phone call away – but just picking up the phone and ‘chatting’ is not going to do it, as Tara Bradbury explains. The old saying ‘time is money’ is very true when you are working at keeping the relationship strong with your client. If you don’t follow up at least every six months, …

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  • Paperless Property Management: Bianca Birnbauer

    Tell us a bit about yourself and your role at Noel Jones. I have been with Noel Jones now for just over four years. My position within the property management department involves numerous jobs, but my main role is Senior Business Development plus overseeing the day-to-day management of the department. I also manage a small portfolio. What motivated you to get into real estate or property management? …

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  • Daily Grind or Career Defined?

    Do you go to work and do the necessary to take home a regular paycheck at the end of the week? Or are you goal-oriented, performance-based and passion-driven? When you are passionate about a career as a BDM, it shows as you build long-lasting relationships that will take you far beyond what others consider the daily grind. I believe a job is an activity a person has in order to earn a secure income. …

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  • How persuasive is your listing presentation?

    At the beginning of the year I joined Toastmasters. With the growth of Rent360 I am having to present to advisory boards, investors and so on; I wanted to be able to think faster on my feet and be comfortable getting up and speaking clearly and convincingly, whether it be in front of one or 500 people. Recently I had to give a Toastmasters presentation where my four main goals were to inform, …

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  • Sync and Not Sink

    There are so many stories where rent roll purchases go wrong, yet when successful the process of purchasing a rent roll is a way to increasing revenue and profit. Katharine Ettenhofer looks at factors to take into consideration if you are thinking about adding to your property management business. The pros for purchasing a rent roll outweigh the cons. By studying your business strategy and growth plans, …

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  • Overcoming Objections: Tara Bradbury

    Too many BDMs see sales objections as an indication that the customer is not going to sign up. However, says Tara Bradbury, it’s actually quite the opposite. Business development managers, it’s time to realise that it’s actually a good thing when prospects raise an objection, especially around fees. If your prospective landlord raises an objection, that’s actually a good sign. By talking out their concerns it means they’re giving you the opportunity to provide a solution, …

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  • Filling the Pipeline

    WHEN SET THE CHALLENGE of prospecting for new managements, does your mind automatically jump onto the starting blocks and launch full steam ahead into finding an investor in desperate need of a tenant – today? A better strategy, says Real+ coach Kate Benjamin, is to understand your pipeline and conversion rates and plan from there. You may be lucky to find that your office sometimes attracts investors who need to find a tenant immediately, …

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  • The Three Prospects You Need To Know

    Meeting with a potential client for the first time can be an unnerving experience. We can find ourselves being overwhelmed with fear and excitement at the same time, but understanding client personality types will help. Tara Bradbury explains. Before, during and after meeting a possible new client most of us will go through the same questions in our head, including: Will they like me? …

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