WHY TECH IS NO THREAT TO PROPERTY MANAGERS
Innovation. Growth. Trust.
LEARN FROM THE BEST #13 AUG-SEP 2017
PERSPECTIVE AND THE PROPERTY MANAGER
BALANCING PEOPLE AND PURPOSE
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ISSUE 13 AUG-SEP 2017 | eliteagent.com.au/epm SARAH BELL Editor sarah@eliteagent.com.au SAMANTHA MCLEAN Managing Editor samantha@eliteagent.com.au
MARK EDWARDS Publisher | Commercial Partnerships mark@eliteagent.com.au
SHANTELLE ISAAKS Marketing Assistant | Producer shantelle@eliteagent.com.au
FEATURE WRITERS Sarah Bell, Shantelle Isaaks
JILL BONIFACE Sub-Editor jill@eliteagent.com.au TIM DUNK Videographer | Editor tim@eliteagent.com.au
CHORUS DESIGN Art Direction | Design marc@chorusdesign.com COVER PHOTOGRAPHY Eric Chow | Topsnap
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EDITORIAL SUBMISSIONS The publisher welcomes editorial submissions from individuals and organisations within the real estate profession. The publisher reserves the right to edit, modify, reject or contribute to the content of the material provided. EDITORIAL DISCLAIMER: Some opinions expressed in EPM Magazine are not necessarily those of its staff or contributing editors. Those opinions are reproduced with no guarantee of accuracy although EPM Magazine endeavours to ensure those opinions and comments are factual. Our subscriber list may sometimes be made available to relevant brands who might be of interest to our readers and from time to time we may be in touch to inform you of new Elite Agent products and services. Please visit eliteagent.com.au/privacy for details on how we collect and use your personal information. Please email editor@eliteagent.com. au if you would rather not receive these communications. © Elite Agent Magazine 2017. All rights reserved.
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Contents Regulars 006 EDITOR’S NOTE Sarah Bell 010 WATERCOOLER Catch up on what you may have missed 012 READER PROFILE Louie Hanias 014 BD MASTERY Tara Bradbury
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016 PM MENTOR Natalie Hastings 018 REALTY BYTES Alister Maple-Brown 020 GAME CHANGER Jo-Anne Oliveri 030 PM Q+A Rebecca Freeman, LJ Hooker Residential Perth 040 THE LAST WORD Fiona Blayney
Cover Story 022 B ALANCING PEOPLE AND PURPOSE Dean O’Brien and Darren Hutchins, O’Brien Real Estate
Features
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026 TENNIS OR PAINTBALL Rebecca Fogarty 028 10 WAYS TO RECLAIM ONE HOUR PER DAY Ashlee Christoffersen 032 CAMERA SNAPS AND CLING WRAPS 10 ways to help tenants hack moving day 034 A GILE EFFICIENCY AND BRINGING TEAMS TOGETHER Andrew Turner 036 HOW PERSUASIVE IS YOUR LISTING PRESENTATION? Penelope Valentine 038 TIME TO SELL? John Rigby
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EDITOR’S NOTE SARAH BELL
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LAST YEAR was the year Uber really had its moment, and now we are all a bit bored. I spoke, wrote, posted and blogged a lot last year about how we needed to become ‘youbers’: The idea is to inoculate against irrelevance by focusing on the skills we have as property managers and real estate agents that will remain relevant at the customer interface in the digital age. In 2016, this meant service and managing relationships, answering our phones and responding to emails promptly, and utilising our ‘expert’ knowledge to provide value. Fast forward to 2017 and bam: we are on the crest of a new wave of disruptive tech. I realise that everyone is feeling the fatigue of change. A lack of ‘normal’ is exhausting and
if I have to remember another password and username, seriously, I can’t even. And now the robots. Even through the exhaustion of a relentless tech evolution, I am excited about robots. The idea that a digital assistant can live in my email and respond to around 80 per cent of the 750plus emails I read every single day is nothing short of thrilling. With the potential for AI to be able to ‘learn’ my unique, intelligent, witty, delightful turn of phrase, and respond in my kind of natural language, well... it is liberating. Goodbye, 80 per cent of emails that require a routine and non-Sarah response. Got a question about where your tenant’s rent is paid up to? I’m – ah – just going to pass that over to my bot babe SBv2.0, who will pull a statement out of my trust package and attach it to an incredibly friendly, wellworded cover email, with no spelling errors, in ten seconds or less, while I do something else with my time. Time is the only currency common to all people, of all nations. How are we going to be spending our time? If the future is about bots, the future of our work day must then pivot towards being more ‘human’. We have seen manual labour replaced by machine labour
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in manufacturing, meaning that there is less muscle and more mental labour required for the human component of manual work. Think about how ‘we’ went from digging holes to operating diggers and bulldozers, with all the technical knowledge and
safety requirements they involve. (By ‘we’ I mean someone who actually operates those big, orange/ yellow truck things; not my area of expertise, but you can grab the analogy). As our service labour is replaced by machine (bot)
THE IDEA THAT A DIGITAL ASSISTANT CAN LIVE IN MY EMAIL AND RESPOND TO AROUND 80 PER CENT OF THE 750-PLUS EMAILS I READ EVERY SINGLE DAY IS NOTHING SHORT OF THRILLING.
labour, I think this means our ‘customer service’ work will likely shift towards higher emotional and mental labour: caring, resolving conflict, dissolving frustrations, absorbing anger, creating logical outcomes for irrational customers, complex problemsolving and critical thinking. That 20 per cent of our day that consisted of difficult clients and complex problems just became 100 per cent of the day. For a property manager, this intensifies the work and the mental and emotional demands of the job in a way that I am not sure we are having conversations about. The efficiencies of having bots perform activities, while humans are humans, is pretty difficult to knock; and I am not knocking bots. But, just as we have grappled with sustainability issues relating to our use of environmental resources, have we looked at what we need to do to bolster sustainability in our
human resources? If more mental and emotional labour is required for our work, what toll will it take on our emotional and mental health? What can be done to create capacity for more mental and emotional output without creating a strain on individuals, families, social networks, businesses, organisations? As we embrace a digital future, we need to reflect on the impact it has on our ‘human futures’ and what we need to do to steer the outcomes of digitisation towards enhancement and positivity. See you in the future!
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ERIC CHOW PHOTOGRAPHER AND OPS MANAGER, TOP SNAP Cover story photography Where are you from originally and where do you call home now? I’m Chinese/Spanish/Filipino, born in Hong Kong and grew up in Australia, so I guess the world is my home. For now, it’s Mentone, Victoria.
38 JOHN RIGBY DIRECTOR, SELL A BUSINESS Is it time to sell? Where are you from originally and where do you call home now? I was born and bred in Brisbane – it’s a world class city now. If I did have a second home it would be Sydney where my eldest daughter now lives with her family. Who or what inspires you at the moment? The industry is not what it was even 10 years ago. The bar has been raised dramatically – it’s a profession now, agents are far more savvy. The young agents coming through inspire me – they run without fear. What’s the most important project you are working on right now? Becoming a better business broker to the real estate industry is something I work on everyday. Whether I’m selling 200 managements or 2,000 the process and level of service remains the same. I grow and learn from my experiences and interaction with buyers and sellers across Australia. Trend to watch in the industry? Business owners are keeping a closer eye on wages, operating costs, and profit. It’s not what you take, it’s what you keep. Many real estate businesses now outsource tasks to virtual assistants in places like Manila. While this is not a new initiative for big business, the trend I see is more small to mid-sized businesses going down this road. Favourite quote or words to live by? “If you’re going to be a bridge burner, you’d better be a good swimmer”. Sir Frank Moore
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Who or what inspires you at the moment? Pete Souza, former Chief White House Photographer, is most inspirational for me. He gets that these moments we capture happen only once. The other is Gary Vee (Look him up if you don’t know who he is.) What’s the most important project you are working on right now? Me. I am my most important project, and should have always been. Only now, coming up to 50, I truly realise I don’t have a second shot at this. Trend to watch in the industry? With tech updates & easy accessibility, everyone is an expert (or believe themselves to be), from photography, to healers, handymen, even lawyers. Whether they’re legitimate experts or not, they will become your next real competition. Stay ahead of the game, in knowledge and humility. Favourite quote or words to live by? ‘Love and live, ‘cos life’s too short’ (by me).
CONTRIBUTORS ASHLEE CHRISTOFFERSEN CHIEF REVENUE OFFICER, CONSOLE GROUP 10 ways to reclaim one hour per day Where are you from originally and where do you call home now? I’m from Sydney’s Northern Beaches and after travelling the world I’m lucky to still call beautiful Manly home. Who or what inspires you at the moment? It might sound cliched but right now I am most inspired by our team at Console and their positive go-getting attitude. I am also a raving shoe fan and love technological innovation so really appreciate the design thinking and consumer design behind Shoes of Prey - led by Michelle Fox. What’s the most important project you are working on right now? We are working hard on how we can help property managers reduce time spent chasing rental payments and arrears. There’s a lot the real estate industry can learn from financial services and banks here. Trend to watch in the industry The real estate industry has been lagging in technological innovation recently
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28 but at Console we believe there are big opportunities to drive automation of otherwise time-consuming and tedious tasks, so that property managers can add value in other ways. Favourite quote or words to live by? “If you don’t feel slightly out of control, you’re not going fast enough.”
36 PENELOPE VALENTINE CHIEF OPERATIONS OFFICER, RENT360 How persuasive is your listing presentation? Where are you from originally and where do you call home now? I am very lucky to be born and bred on Sydney’s Northern Beaches. I lived in London for ten years during my 20s which I loved but the thought of bringing up children with the extended winters over there filled me with dread. I’ll take Sydney any day. Who or what inspires you at the moment? When I met my husband he amazed me at how disciplined he was about self-improvement. He has introduced me to so many incredible resources and a growth mind-set which has opened up some exciting opportunities for me. For inspiration right now I go to Tools of Titans by Tim Ferriss which is all about learning from world class performers and creating the best version of you. What’s the most important project you are working on right now? Given I recently launched my own company I am going to say the continued growth of Rent360. The fact that we are empowering top property managers to start their own PM business and own their own rent roll, then seeing first hand the difference that is having on their lives both financially and with work-life-balance, is pretty special. Trend to watch in the industry? The rise of the digital ecosystem where property investors, property managers, tenants and service providers to all three stakeholders come together in an online marketplace, providing all parties the ability to engage, purchase services and negotiate price in a competitive environment. Favourite quote or words to live by? “If you work hard on your job you can make a living; if you work hard on yourself you can make a fortune.” Jim Rohn
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THE WATER COOLER
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Our daily newsletter #THEBRIEF brings you the latest real estate news, tech and marketing tips straight up every day. In case you’ve missed anything, here are some of this month’s trending stories. Subscribe to #THEBRIEF eliteagent.com.au/subscribe.
RUBY SLIPPER #MORETHANLIKES Melbourne social media agency Ruby Slipper are expanding their offering into beautiful bespoke eBook production. Director Iolanthe Gabrie notes that “clever social media content is the foundation of digital branding for real estate agencies, and we want our clients to have the opportunity to passively gather more data from their audience.” Iolanthe knows prospecting is where true value in real estate digital marketing lies, courtesy of her years as an estate agent and auctioneer prior to developing Ruby Slipper. She says, “Ruby Slipper are proud to collaborate with real estate businesses of all sizes to help them create authentic brand content they can exchange for customer data via pop-ups on their website, or newsletter calls-to-action.” Learn more about Ruby Slipper (and grab their free Social Media SOS eBook) by visiting rubyslipper.com.au.
What is the cost of organic growth? BusinessDEPOT recently held an Organic vs Acquisition debate as part of a real estate rivalries breakfast series, hosted by John Knight. Enriched by a panel of fantastic business operators including Andrew Coronis, Coronis Real Estate and Deanne Ramsey of Ray White in Ipswich, one of the major takeaways was the cost of organic growth. While the cost of acquiring a rent roll is obviously capital, John said that “it can be easy to forget that there is a cost to organic growth too, and that takes the form of profit. “To grow organically the main cost is incremental wages for BDMs, property managers or bonuses for existing team members. “One of the big factors often ignored when tossing up between an organic or acquisition growth strategy is tax – wages are deductible, but the cost to buy a management is not,” says John. As for who won the debate… According to John, businesses with a blended strategy of organic growth and acquisition tend to perform better overall, but the right strategy for growth in a business will depend on a variety of factors.
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InspectSafe: Streamlining the inspection process InspectSafe is the latest inspection management solution transforming the way residential property inspections are managed across Australia and New Zealand. Finally, an inspection app that provides essential personal safety attributes for property managers whilst delivering the best overall functionality. InspectSafe captures key information from all trust systems and covers all types of inspections, including entry, exit and routine inspections,
to streamline the process and reduce the time spent on inspections and reporting. It can produce customisable reports on site in record time, and safety features include distress alerts and GPS location tracking. New features coming to InspectSafe: • Full inspection planning and management systems • Notify applicable parties of upcoming inspections and any changes • Automatically schedule future inspections based on your agency’s settings • Route planner to determine your most efficient path from door to door. Request an InspectSafe demonstration today by calling 1300 155 888.
AIRBNB PARTY HOUSES: OPTIONS AND OPPORTUNITIES The NSW Government has released an options paper seeking feedback on alternatives to address some of the issues with short-term holiday letting: things like noise, party houses, waste, evacuation and hazards, and traffic and parking. There has been a lot of talk about regulating online hosts and introducing compensation for neighbours put out by the actions of disruptive ‘guests’ in short stay accommodation. This has us thinking that the ‘disruption’ of Airbnb might actually hold an opportunity for property
managers as the cowboys are reigned in and more people are seeing the benefit of professional management – even for online short lets. Companies like airsorted.uk have emerged overseas as professional Airbnb managers – could this be a new opportunity for property managers and agencies?
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READER PROFILE
TEAM PLAYER Louie Hanias’ career path after university may not have gone quite according to plan, but he has no regrets. Having been made redundant from his previous job and with a mortgage to pay, he approached a property management agency for work experience. Now a senior property manager and business development manager with Harris Real Estate in SA, Louie has won several awards which he attributes to his colleagues and the agency’s values. And did we mention that for Louie, soccer is a passion?
How many years have you been in real estate? I moved into property management in November 2009, after working as a draftsperson in an engineering firm. What motivated you to get into real estate? I enjoy meeting and dealing with new people. I also didn’t have to study a lot to secure a job as a property manager, which was ideal at the time as I had a mortgage to pay. What is the market like in your area right now? After a slow April and May, it has really picked up in the past few weeks. It’s good to see the numbers at our open for inspections again. Who or what inspires you? My biggest inspiration would always be my father. He came to this country with no money or any knowledge of the English language, yet found a way to provide for his family and do well for himself.
In your ‘briefcase’ right now is… A couple of application forms, management agreements and a chocolate bar wrapper. Something (or someone) you couldn’t live without? A couple of things: playing soccer and my family. What do you enjoy most about Elite Agent/EPM Magazine? Dealing with the lovely staff and meeting EPM’s editor, Sarah Bell, who made my experience an enjoyable one.
Dealing with tricky situations becomes second nature to you. Any words to live by? “It (life) ain’t about how hard you hit, it’s about how hard you can get hit and keep moving forward” – Rocky Balboa, 2006. What apps do you use most at the moment on your iPhone or iPad? Inspection Manager and Live Soccer Scores. What advice would you give someone starting out in property management? You’re in for a tough ride! The first year or so will be difficult due to the stressful nature of the job; many new property managers quit during the first 12 months. However, if you can show your employers that you are working hard and keen to learn new things, this will earn their respect and patience while you learn. Eventually, dealing with tricky situations will become second nature to you and the job will become more enjoyable. ■
12 ELITE PROPERTY MANAGER • AUG-SEP 2017
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Business Development Mastery
Tara Bradbury
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. It is a routine in which a BDM can get caught up – the trap of consistently performing non-income producing activities and still be paid a regular income. A career, however, is always goal-oriented, performancebased and passion-driven. When you are passionate about a career as a BDM, you are prepared to go above and beyond what is required. You understand the importance of networking and building longlasting relationships.
Having a career as a BDM requires you to be open minded and interested in further education. It is important to be on top of your game or in no time your competition will stomp all over you. If you are a BDM who is just focused on having a job, further learning and specialised training will not be of interest to you. The reason most BDMs stay in the ‘job’ mindset is because it is the safe option and they know the income is always there. As a BDM, understanding and adopting the salesperson’s
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mindset will strengthen your ability to have a long-term and successful career. It will set you apart from your competition and will help position you as the local expert. It doesn’t matter whether you are a new BDM or have been doing the job for a while. A career-driven BDM understands and will very easily perform well in the following five areas: • It’s not a nine-to-five role; you need to be prepared to do deals after hours or on weekends • You need to believe in the product you are selling to the client • Use a database well to maintain, generate and convert leads • Be a team player and good communicator • Have a competitive nature and be goal oriented. If you do the work and get the results there are other rewards. I once asked my principal if I could stop work early at 4pm to go to the gym. Her response was one that I will never forget and one I believe to be valuable for all BDMs and principals. She said, ‘Tara, as long as you’re signing 15-plus managements per month I don’t need to know what you do with your time. You have proven you are career-driven
and I trust you are prepared to do whatever it takes to achieve the targets we have set.’ Defining your own career must be high on the list to escape the daily grind. Be inspired to change your approach if you discover that you perform with a ‘job’
BE INSPIRED TO CHANGE YOUR APPROACH IF YOU DISCOVER THAT YOU PERFORM WITH A ‘JOB’ MINDSET. mindset. To do this, simply set targets and goals to achieve for the next 12 months, look at the activities you are performing during the day and ask yourself whether they are incomeproducing or can be delegated while you prospect and build relationships. ■
TARA BRADBURY is the Director of the BDM Academy, sharing her business development ideas and strategies with property management BDMs and principals. For more information visit bdmacademy.com.au.
Property Management Mentor
Natalie Hastings
LOSING IT: PERSPECTIVE AND THE PROPERTY MANAGER Being a property manager sometimes feels like being in the eye of the storm – buffeted around by other people’s demands and in a state of constant reaction. This is particularly true when we move into peak periods of client demand. Natalie Hastings looks at the best ways to stay calm and maintain perspective.
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imes of stress and demand, such as the start of each new year and the close of each financial year, can take their toll, both psychologically and physically, on even the most experienced of property managers. Choosing to power on without time for recuperation can quickly lead to serious illness and depression – all of which take you out of your team for much longer than a week off! If they want to avoid becoming a casualty of burnout, it’s critical that property managers take measures to maintain their sense of perspective and prioritise their health. Here are some ideas for maintaining perspective and prioritising your own wellness – ensuring you can continue to do the job you love for years to come!
SET BOUNDARIES You are not your job. Rinse and repeat. You are not your job. Having healthy boundaries around your job and your responsibilities promotes an enhanced sense of wellbeing for property managers. Some of us become sucked into a vortex of racing to fix everyone’s problems all of the time, answering business
phones well into the evening instead of enjoying family or leisure time, worrying compulsively about unresolved maintenance issues in their own time – in short, believing that they’re responsible for everyone else’s happiness. This is a one-way trip to burnout for caring personalities (in other words, most of the people who work in property management!) Understand the boundaries of your role in both time and responsibility. You cannot make every landlord happy and every tenant content.
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You can’t force landlords to make necessary changes to their property, any more than you can compel tenants to transfer funds to the trust account. Landlords and tenants are responsible for their own happiness: you are the helpful expert working to negotiate good outcomes for both parties. As we well know, this isn’t always possible. So don’t grind your teeth late into the night over it. Make your own time your own time and exert influence within your professional boundaries.
SPACE FOR CALM There are times when things can get pretty stressful in your property management role. If you are constantly subjected to undue stress – powering through with the assistance of coffee, cigarettes or wine to pump you up or calm you down – you’re at risk of not only poor health, but suboptimal decision-making. If you start to feel panic rising or stress amping your heart rate, create strategies and space for calm. Take five or ten minutes and focus on yourself, removing yourself from the situation at hand. There are many apps you can use to help you relax and refocus. Here are some of our favourites: • Headspace A beginner’s guide to meditation, Headspace offers a full menu of meditation offerings – everything from performance enhancing through to sleep meditation and stress management. There’s even an SOS minimeditation for those ‘I see red’ moments! • Omvana A great one for meditation newbies, Omvana offers several free ‘starter’ meditations which can both calm you and help you focus on your day with purpose. Choose from a variety of
peaceful or gently motivating soundtracks to ‘mix’ your own meditation.
WORKING TOGETHER FOR WELLNESS Happy teams are productive teams. Remember – whilst you are property managers, you are also much more than property managers! You’re bookworms, gourmets, Kardashian fans, parents, pet lovers, runners, volunteers… the list of interests outside of real estate within your team right now is likely mindboggling. Connect and promote wellness as a group by choosing to participate in team activities that stretch your
N SIG
UP
minds (and maybe your bodies, too!). Ideas for connection and balance you can undertake in your office include: • Desk yoga Keep your bodies limber with gentle ‘desk yoga’
CHOOSING TO POWER ON WITHOUT TIME FOR RECUPERATION CAN QUICKLY LEAD TO SERIOUS ILLNESS AND DEPRESSION.
exercises of an afternoon! Look up YouTuber ‘Yoga with Adriene’ for a variety of gentle stretches that are both amusing to perform and energising. • Dance it out Wheel away the office chairs: it’s time for a danceoff! Is there one lunchtime or afternoon a week when your team could dance it out, enjoying a giggle and raising your heart rate? We recommend office dance-offs to YouTuber ‘The Fitness Marshall’ for maximum stress relief. • Book club Engage with the book lovers in your business by holding a bi-monthly book
club. Choose something accessible and enjoyable, and take yourselves out for afternoon tea and a ‘deep and meaningful’ discussion about the book. New ideas inspire and connect – try it! Maintaining perspective – and prioritising your wellness – is an important part of being an effective property manager. Whilst it might feel tough to put yourself first, it’s the only way to continue enjoying your role in real estate and your life outside it! ■
NATALIE HASTINGS is the Managing Director of hastings + co. For more information, visit hastingsandco.com.au.
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Realty Bytes
Alister Maple-Brown
WHY TECH IS NO THREAT TO PROPERTY MANAGERS Since its explosion in the 90s, technology has become central to everything we do in property management, and in business today. Completely changing the game was the iPhone, invented 10 years ago, which gave us access to the world in our back pockets. But will technology ever completely replace property managers? Absolutely not.
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he rate of change when it comes to technology has been rapid and will only continue to accelerate. Real estate businesses need to adapt or be left behind. Technology is an enabler and something the property management industry should be embracing, because while technology won’t replace property managers there’s no denying that it’s changed client expectations. We all expect the information we want to be at our fingertips anywhere, anytime – and property management clients are no different. Whether it’s a landlord wanting confirmation that rent is up to date or a tenant asking for the status of a repair request, clients have a ‘now’ mentality. They have an expectation that they should be able to access the information they want and find the answers they need at any time. Property management has truly become a business that never sleeps. But there’s no doubt technology can be a property manager’s best friend in navigating this new reality. Cloud-based property management software is fast becoming the norm. Client information portals are now common. Electronic condition reports are on
the rise. Task-specific apps continue to be developed. The list goes on and on, all designed to enable a better level of interaction between the property manager, their clients and other suppliers and stakeholders. While information may be more easily accessible and communications more tailored and streamlined, the need for a property manager to act as an intermediary is as important as it ever was – possibly even more so. Property managers are experts in what they do. These days, we all go to experts for advice and service in relation to so many things. Whether we’re after financial advice on how best to grow our superannuation or need a specialist joiner to build a custom bookcase for that oddshaped nook in our home, we seek out experts to do the job because they’re specialists at what they do. So too are property managers. Landlords rely on them to manage what is undoubtedly one of their biggest investments. Tenants rely on them to keep a roof over their head. There are a multitude of tasks and responsibilities that come with leasing a residential property which mean the
18 ELITE PROPERTY MANAGER • AUG-SEP 2017
WHILE TECHNOLOGY WON’T REPLACE PROPERTY MANAGERS, THERE’S NO DENYING THAT IT’S CHANGED CLIENT EXPECTATIONS. value of property managers is significant. By acting as an intermediary between all parties, they’re able to give landlords the peace of mind in knowing their investment is in the best possible hands – and their property is an asset, not a liability. Singularly, technology isn’t the answer to everything. It’s not a replacement for a skilled and knowledgeable property
manager. Rather, it’s a tool that helps them to respond to their clients’ needs and work more efficiently and effectively, and make information available more quickly. It enhances the quality of advice they give and the service they provide. Fundamentally, property management is a people business and technology enables property managers to have a better quality of interaction with clients by decreasing friction. Technology isn’t threatening. It’s not something property managers should be fearful of. But in a challenging and competitive environment, real estate businesses need to always be looking for new opportunities to add value – technology plays a key role in adding this value. It’s a tool that can help property managers respond to their clients’ needs. Today’s property manager must use technology to enhance the quality of advice they give and the services they provide. In this rapidly changing world, the winners will be those who embrace the opportunities that technology enables. ■
ALISTER MAPLE-BROWN is the CEO of Rockend. For more information visit rockend.com.au.
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Game Changer
Jo-Anne Oliveri
MOVING UP THE LADDER What’s the next step in your career: Department Manager, Coach, Business Development, Consulting? Jo-Anne Oliveri takes a look at how you can help move yourself towards the career you really want.
N
ot to toot my own horn, but I feel very honoured to have achieved a successful career in property management. From a humble property manager in suburban Perth over 20 years ago to an awarded industry influencer and thought leader working with international real estate companies, I am truly grateful for where my career has taken me. By continually planning, risking, investing, discovering and believing in yourself, you too can achieve this same success. To take your property management career to the next level, here are five steps I have used from the start of my career and continue to use today.
any events you want to attend or perhaps even present at. Look within and write a career plan that takes you from where you are today, to where you want to be tomorrow, and where you ultimately want to end up 20 years from now.
2
RISK – LEVERAGE NEW TECHNOLOGY If you want to take your property management career to the next level, you must become an early adopter of new technology. Over the course of my career, I have seen many new technologies enter the industry and have eagerly adopted each one to see if they can improve my services, results, career and industry.
STOP THINKING YOU CAN’T AFFORD TO INVEST IN YOURSELF, AND START THINKING YOU CAN’T AFFORD NOT TO!
1
PLAN – MAP YOUR VISION Having a future vision is essential if you want to take your property management career to the next level. Take the time to map out what your ideal career looks like. This plan should include your desired career milestones, timelines for achieving them, professional development budget, industry awards you want to work towards, and
You too must take a risk and leverage new technology, such as virtual and augmented reality property tours, drone photography and videos, digital signatures, chatbots, digital solar and property data-driven videos, to enhance your services. This helps you to stand out in your market area and the industry, which can lead to more and better job opportunities to advance your property management career.
20 ELITE PROPERTY MANAGER • AUG-SEP 2017
3
INVEST – ONGOING DEVELOPMENT Successful property management professionals never stop learning. Every year, I invest 10 per cent of my annual earnings into my ongoing personal and professional development. To take your career to the next level, you too should invest in your personal and professional development, which includes having a mentor or coach to hold you accountable. Other avenues for ongoing development are leading-edge industry conferences. Stop thinking you can’t afford it, and start thinking you can’t afford not to! The more you invest in your personal and professional development, the further you can take your career.
4
DISCOVER – FIND YOUR SPECIALITY If you want to succeed in property management, you must discover your speciality. Your speciality could be a niche service you love offering, or an industry area you have become extremely knowledgeable and passionate about. By continually learning and experiencing, your speciality will naturally be revealed. For example, over the course of my career I discovered a great interest and passion for business systems. I have since started a business where I consult to property management principals about this area of their company.
Discovering your speciality helps raise your industry profile, which ultimately fast-tracks your career success.
5
BELIEVE – NEVER STOP The most important step is to always believe in yourself, and never stop. When you achieve a career milestone, make sure you don’t stop there. There will always be something bigger and better you can aim for. This is when you start the steps again. Map out the next stage of your career to build on your knowledge and skills. Find new technology to improve your results. Continue to invest in your ongoing development, and discover new ways to refine your speciality. Keep repeating these steps so you never stop learning and growing. Most importantly, believe in yourself and feel grateful for the successful career you have achieved. This is the key to take your property management career to the next level, now and in the future. Remember, if you always plan, risk, invest, discover and believe in yourself, you too can achieve a successful career in property management. ■ JO-ANNE OLIVERI, CIPS, TRC, is the Founder and Managing Director of PM business solutions company ireviloution intelligence. For more information visit ireviloution.com.
What would you do, with an extra hour in your day? Get through those jobs from yesterday?
To Do esday Wedn
ber quotes m lu p e s a h C s Lodge Bond Smith St, 6 3 # s n io t c Inspe rge St. 24/125 Geo als ease renew ts L r e b m e t p n Se rent payme Chase late
nch! Go to lum Call Mu !!
Go to lunch or even call your Mum?
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Already with Console? We know many clients aren’t using our full suite of capability to its full potential. Understand how, and get more from your existing software with our helpful tips and training on MyConsole. Visit http://myconsole.com.au/.
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COVER STORY
22 ELITE PROPERTY MANAGER • AUG-SEP 2017
Balancing PEOPLEand PURPOSE IT WAS PETER DRUCKER WHO said
that ‘Culture eats strategy for breakfast’, yet the founders and co-directors of O’Brien Real Estate, Dean O’Brien and Darren Hutchins, find a way to balance people and purpose. Sarah Bell caught up with the leadership duo who demonstrate the potential that can be realised when culture and strategy have breakfast together.
“I
THINK WITH MYSELF and Dean, there is a fair bit of yin and yang,” says Darren Hutchins, Founder and Co-Director of O’Brien Real Estate. “Dean tends to focus more on strategy. I tend to focus more on culture.” “For me, the key was to get the right people on board. For Darren, [it was] getting the culture right. We run a very positive culture; if there is an issue we deal with it immediately, and we like to think that everyone is on the same path,” says Dean. “We have a very good working relationship. He [Darren] is very good at the people side of things, but I think without strategy, culture is very difficult to maintain.” “One of the best things we did early on in the piece was to put values in our business. They are across the board,” Darren adds. “The O’Brien values are family, mutuality, realising potential, embracing change, health and energy.” For Dean and Darren, the right culture and the right strategy are created in line with their values, and from a place of insight into the experience of a property manager. Dean explains, “I sat down [with my property managers] and found out that the majority are balancing family and everything else, and they problem-solve from six-thirty in the morning to six-thirty or eight o’clock at night. “How do you mentally maintain that five, even seven days a week?” he asks. “It’s insane to think that anyone could do that. And so we identified that they needed some help. We talk to the team every 90 days about emotional development and relationship qualities. It’s not so much training them on the details [of property management]; it’s about training them on themselves.” “It [our culture] has always been to have fun with property managers. The whole property management piece is tough; it’s a high-pressure job. A couple of years ago we put Stan Longinidis, World Kickboxing Champion, into our business to work with the property management team on health, energy and pressure management,” explains Darren. “The unfortunate thing with property management is that it’s a task-orientated job
and it’s a grind every day, and no one can handle that. It’s institutionalising,” says Dean. “When I sat down with the girls and the team, and I said, ‘Let’s go through these job roles,’ what I found was that the time was being spent on taskorientated jobs.” “I think if you have a look at the property management space at the moment,” says Darren, “things are changing, and they are rapidly changing. I believe your property manager will
“THE O’BRIEN VALUES ARE FAMILY, MUTUALITY, REALISING POTENTIAL, EMBRACING CHANGE, HEALTH AND ENERGY.” become more of a customer service person than a property manager as such.” “It doesn’t make sense that we want them [property managers] to maintain relationships with landlords, facilitate the growth and the vision, and at the same time we want them to be processing applications; that is two different people,” Dean adds. “So by outsourcing the mundane tasks, or the maintenance, or the arrears –
epm.eliteagent.com.au 23
COVER STORY the administration work – we have the ability to free up time, so they can have conversations with landlords and not just ring your landlord out and say ‘I’ve got an issue’.” The capacity that outsourcing created for O’Brien Real Estate allowed them to deliver their value of ‘realising potential’ throughout the network; a systemic solution that creates freedom for individual property managers to explore a new level of service offering, without placing an additional burden on the person to strain beyond their capacity. “There has to be a great reason to be back in the office after five-thirty,” says Dean, “and if there is someone here after five-thirty, I would say I’m not doing my job as a director by giving [them]the skill set or support. “It [outsourcing] was nothing about cutting jobs; it’s just more about creating capacity,” he adds. “Creating capacity allows us to extend potential.” “Our job is to see that all our guys realise their potential,” says Darren. “I’ve walked through a lot of offices and I see high performance on the walls. Well, we steered away from high performance because everyone has a different why.
“ONE OF THE KEY THINGS NOW WITH REAL ESTATE FRANCHISING IS TO CREATE A PLACE WHERE BUSINESSES CAN FACILITATE THEIR GROWTH.” You know, the reason you’ve got to work and do what you do is probably a different reason than why I do it. “Instead of putting in a value on high performance it was realising potential. We’ve got people in the business who want to earn $100,000 and we’ve got people who want to earn a million bucks.” “I hate the words ‘high performance’,” adds Dean. “My definition of high performance may be different from your definition. I love the word ‘potential’ because it is always extending, but at the same time it’s not limited.” “Our values have been a big part of our business, and consistency of actions too,” says Darren. “You know, consistency of getting to the office and doing the arrears checklist at the same time every
The O’Brien Directors: Darren Hutchins, Stavros Ambatzidis, Dean O’Brien
day. Checklists have been a huge part of our business over the past few years; you’ve got to put a checklist in place so things don’t get missed.” The consistency of the product is important for a franchise business that is growing exponentially and using a new form of property management to “recession-proof our businesses”, according to Dean. “I just believe that the traditional model of a property manager is not going to be with us in two to three years. We need to have a vision of asset management. We need to have qualified people in a wealth creation model of property management. People who truly know where the appreciation lies and how to protect the asset. “My whole philosophy of property management is that it’s going to move out of that traditional market. “I think property management is about recession-proofing all our real estate businesses… if we can get a model and have that service I think we’ve got the ability to scale. One of the key things now with real estate franchising is to create a place where businesses can facilitate their growth.” Darren adds, “Our focus has always been on both property management and the
24 ELITE PROPERTY MANAGER • AUG-SEP 2017
sales aspect. And the same when we’re bringing franchise offices on; I mean, we’re now nineteen offices, soon to be twenty. We want like-minded people in our franchise businesses who believe in our purpose and then it flows throughout the whole [group].” O’Brien Real Estate is ready to scale. Their strategy map for growth is plotted on ‘Everest Mission Charts’, Darren explains. “An Everest Mission Chart is where we want to go year by year. Not only property management numbers but office numbers, people within the business and everything else; that way you can track your growth and see whether you are on track or not. “We’ve spent a lot of time cleaning things up, getting things right, getting structures in place, operations manuals – all those things behind the scenes, making sure that we are in a position to scale. “We’re committed to building what we believe will be the best franchise model in Victoria,” says Darren. ■
Dean O’Brien and Darren Hutchins will be sharing more of their journey as business owners, directors, franchisees and franchisors, from the ARPM Conference stage, 27 and 28 August in Sydney. Visit arpmconference.com.au.
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CUSTOMER SERVICE
Tennis or paintball? COMMUNICATION WITH clients is key to
succeeding in our industry, as we have all heard. However, many workshops and seminars fail to give us critical information on what to say within the conversation to achieve the goal, or how to get our message across effectively. Rebecca Fogarty explains how to serve up a great dialogue.
W
E HAVE BEEN told to communicate often, make our statements clear, diarise the conversation and so on. Just communicating your agenda is not sufficient. A good conversation ensures the second party not only understands you but comes away from the encounter feeling they have been heard, been informed, and ultimately trust you and your guidance. Effective communication should be the key, but how do you communicate effectively? Through my many years as a property manager and team leader, I have often compared the art of conversation to either a tennis match or paintball.
GAME, SET AND MATCH Like a tennis match, conversation is a volley of words put together to serve to your opponent or client while listening and preparing for their return sentence. There should be a good flow of to-ing and fro-ing, with each party contributing to the conversation. First you start with the opening serve: ‘Good morning, Mr Smith, it’s Rebecca here from Blackbird and Finch. Can you spare a few minutes for me?’ The serve sets up the tone – I acknowledge that he is busy, but what I have to say is important. The client returns the serve: ‘Of course, Rebecca, what do you need?’ The second hit is a gentle set-up of what’s coming: ‘Well, I have some concerns about the tenant in John Street.’ Mr Smith returns the set-up: ‘Oh no, what’s going on?’ So now we have a dialogue. The client is listening.
We can then enter into the real information, such as: ‘The tenant has not responded to any messages’, ‘The tenant’s inspection was not satisfactory’, ‘There is a maintenance issue’, or whatever. The client then has the opportunity to ask any questions or make a statement: ‘OK, that’s not good’ or ‘How did that happen?’ We can then ‘run to the net’ and get to why we are calling – we have a problem, we have a solution but we need an instruction. ‘Mr Smith, based on the tenant’s previous history, it’s my recommendation to serve a breach notice at this point then re-evaluate the situation in seven days…..’ or ‘I do have
‘How would I know? – You’re the expert!’ Statements like this mean you have lost the game. Using a solution-based conversation is just about changing the serves around. ‘Mr Smith, there is a concern with the tenant. I have a possible solution that I wanted to run past you’ or ‘Mr Smith, there is an issue with your property and I believe I have it sorted. I just wanted to make sure you are comfortable with my plan.’ Either way, a good conversation will involve communication from both parties. Paintball, on the other hand, goes like this. ‘Hi, Mr Smith, Rebecca here from
A GOOD CONVERSATION ENSURES THE SECOND PARTY NOT ONLY UNDERSTANDS YOU BUT COMES AWAY FROM THE ENCOUNTER FEELING THEY HAVE BEEN LISTENED TO. a strategy in place that involves….’ or ‘I have consulted the team and believe the process moving forward should be…’ Quite often the client is satisfied with your plan of action and lets the ball go through. ‘Thanks so much, I agree with your plan. Let me know how it goes.’ A great tennis match.
READY, AIM, FIRE! Of course the structure of the game can be changed to suit your client’s personality type. If they are an emotionally connected owner you may choose a softer opening serve, starting with ‘How are you today?’ or asking about them in some way. Assertive owners may require the solution before the problem to avoid statements like, ‘What do I pay you for?’ or
26 ELITE PROPERTY MANAGER • AUG-SEP 2017
Blackbird and Finch. Just calling about the tenant in John Street. It looks like he is behind in rent again. Do you want me to serve a breach notice?’ Suddenly the client is hit with all of this information in one splatter, not being able to ready himself for a response or even listen correctly the first time. The client feels pushed into the decision and the conversation is not an engaging experience. Are you playing tennis or paintball? ■
With over 12 years in property management, REBECCA FOGARTY is Co-Founder and Director of new boutique agency Blackbird and Finch.
PRODUCTIVITY
10 WAYS TO RECLAIM ONE HOUR PER DAY INCREASING productivity isn’t just
about getting more work done; it’s about working smarter and using time better so that you have more of it – and more options for spending it. Ashlee Christoffersen from Console has 10 tips to help you get more done every day.
28 ELITE PROPERTY MANAGER • AUG-SEP 2017
T
IME IS THE great equalising currency of all people, of all nations, across all ages. How we value and spend time is the critical difference between those who achieve their goals and those of us who may be really busy, but getting nowhere. Looking at how we spend time and the output we are actually achieving from our energy spent over an hour, or a day, or a week allows us to find ways to work smarter. How would you spend an extra hour each day? While you ponder that, here are 10 quick ways to increase productivity and reclaim time for you.
1
START WITH A PLAN Sit down every Monday morning and set out each day for the week. It’s a lot easier going into your week with a game plan because it gives you structure and avoids repetitive tasks. Setting aside a time in the morning or afternoon to unplug from emails and phone calls to get to your actual deliverable tasks will make a big difference to your productivity.
2
GET IN THE ZONE For property managers, look at your rent roll and arrange tasks through geographical area or zones. This saves you having to drive back and forth to suburbs when you can do it all in one go. You can do this by downloading GPS tracking apps that will optimise your routes. Just type in the addresses and let the app do the work for you! Road Warrior Route Planner takes into account real-time traffic, availability and your busy schedule.
3
CLEAR DESK, CLEAR DESKTOP Regularly clean up and go through emails. If you don’t do this you’ll find you look at the same email five times a day. Keeping a clean desk keeps a clear mind.
4
KEEP IT MOBILE For property managers, accessing owner or tenant details on the road is a big time saver. Use your time wisely when driving and make sure you have mobile access to your information. Remember though, road safety comes first so make sure you have hands-free!
5
THE MYTH OF MULTI-TASKING Shut down your inbox and ignore your emails while focusing on more pressing tasks. Setting up rules in your inbox that alert you via mobile when an email comes in means you can concentrate on the important stuff.
6
TECH IS A SERVANT, NOT A MASTER The increased use of mobile technology has given people access to their work lives anywhere, at any time. The worklife balance is being blurred more and more. Using collaboration tools like Asana creates accountability, responsibility and aims to make workplaces more productive, but make sure that notifications are turned off when you’ve left for the day.
7
LEVERAGE A LENS Take hours from your day through the use of mobile inspections where you can. Use Skype or Zoom to talk to landlords remotely, but maintain the personal touch with video conference facilities.
8
AUTOMATE YOUR AUTOMOBILE Make sure you’re logging car trips efficiently by downloading the log book app to keep track of your routes for you. The Logit App is free and ATO-compliant.
SET A TIME LIMIT FOR YOUR DANGER JOBS WHERE YOU ARE LIKELY TO GET DISTRACTED.
9
TREAT YOURSELF We always encourage taking a timeout for a little pamper session, giving you time to recharge and reboot. If you really don’t have time and need luxury on the go, it’s still possible! Glamsquad, LUXit, Priv or CityMani are the ‘Uber for beauty’. Mobile beauty services are a new phenomenon that aren’t going anywhere, so jump on board – and it’s not just for the ladies!
10
TIME BOXING It is easy to spend longer than needed on jobs, or get absorbed in activities that you enjoy doing, versus the jobs you are avoiding. Set a time limit for your danger jobs; the ones where it’s easy to get distracted. Give yourself 30 minutes or an hour, and then come back again tomorrow with another time box. ■ ASHLEE CHRISTOFFERSEN is the Chief Revenue Officer at Console Group, leading the sales and business development function. For more information about Console’s new cloud product visit console.com.au.
epm.eliteagent.com.au 29
PM Q&A
Rebecca Freeman
LJ Hooker Residential Perth
Rebecca Freeman is the CEO of LJ Hooker City Residential in Perth. Having worked with the company for 18 years, she is now responsible for growth, human resources, coaching and keeping the profit lines in good shape. “Life is not about waiting for the storm to pass, it’s about learning to dance in the rain” is her favourite quote, and a topic she will be speaking about at ARPM 2017. Tell us a bit about yourself and your role at LJ Hooker Residential, Perth. I’m 37 and have been working with LJ Hooker for 18 years. I moved to Perth and joined the team here seven years ago, and I absolutely love it. Having grown up in southeast Queensland on the beaches then lived in Sydney for six years, I find Perth is the perfect combination of the two. Fabulous beaches and everything a city has to offer! I live in Inglewood with my fiancé Lee and we are currently planning our wedding. I love to travel and have ticked off over 50 countries in my lifetime, and I’m a tragic country music fan. How did you get your start in real estate? My real estate career started when I was 14 and my mum was working for LJ Hooker. I used to go into her office and bind her contracts and pencil at her Chattel Auctions for deceased estates. It was from that moment that I knew I wanted to be in the industry. I’ve worked in all positions in the business: reception, property management, sales, auctioneering and leadership.
My main passions were sales and auctioneering, and I spent some time training LJ Hooker salespeople throughout Australia and New Zealand. I grew and learned more from this role, I believe, than any other. What do you think is special about your local area? Perth City is a vibrant place that joins the old and the new. In the past five years I’ve seen it move from big country town to thriving metropolitan city. It’s now filled with small bars, five star restaurants
30 ELITE PROPERTY MANAGER • AUG-SEP 2017
ONLY YOU CAN CONTROL HOW YOU REACT TO ANY SITUATION; SO PUT SOME THOUGHT INTO IT. and a fabulous riverfront that hosts music events, food trucks, night markets and our fringe festival. There is always something to do, and you will never be bored. Something (or someone) you can’t live without? My phone… I’d be lost without it! My fiancé and family;
they are the best. We have so much fun when we all get together – it’s one big constant celebration of life. In your briefcase/bag right now is…? A copy of The Barefoot Investor, two auction reserve letters for my auctions tomorrow, then all of your
have my own little PA in my handbag; Property Me, Pocket Rex, Taste (I love to cook), Uber (who doesn’t love it?), I Know the Pilot (cheap flights) and of course Facebook.
girly stuff... Lip gloss, perfume, hairbrush, wallet, iPad, hand cream, and so on. Who or what inspires you? My charity work inspires me; I always make sure I’m involved in a couple of charities at a time. It’s so important to give back. There are so many people out there doing it tougher than me – it is such a huge part of my life to ensure I’m either raising money or awareness for some local charities. The amazing Frank Newton and my mum also inspire me daily.
privilege to have them there. Stay solution focused and never try and control the uncontrollable. What Apps do you use most at the moment on your phone or tablet? I love Fiverr – it feels like I
What changes do you see happening in property management in the next year? Consumers’ demands will get higher and higher, and there will be more pressure on fees. Our role as property managers will also change. We are in a huge growth phase. Our business development team are the best we have ever had and they work tirelessly to bring in big numbers monthly; our challenge is to be able to support this growth without losing our customer experience and ensuring we have raving fans. We’ve started to offshore some of our administrative tasks to free up the time of our senior and assistant PMs. We believe that this role will evolve into more of a customer experience officer role: someone to liaise with tenants and landlords and ensure that
we’re maximising their income and minimising their risk, not ‘Managing their property’. Exciting times ahead for both the industry and the consumer! We will be staying at the forefront of this and looking at our policies and procedures systematically to ensure we have all customer touch points covered and maximised. What do you hope people will take away from your presentation at ARPM? Only you can control how you react to any situation; so put some thought into it. Also, over the last two years we have changed the way we look at growth; between our two offices we added over 320 new managements in 12 months. I’ll be sharing some tips on how this was done – plus how to stay on the leading edge, not bleeding edge, of technology, how to help young people understand the human network over the social network and how to embrace ongoing change in the industry. ■
As a leader yourself, what are the most important behaviour leaders should display? Lead by example: get your hands dirty and show your team that it can be done. Be approachable, innovative and stay strong and consistent with your values and beliefs. Inconsistency will confuse your team and they’ll start to doubt whether they are in the right place. Never take it for granted that people have chosen to work with you; they spend so much of their time in the office, it’s an absolute
epm.eliteagent.com.au 31
R
ECENTLY DIRECT CONNECT ran a ‘moving hacks’ competition on NovaFM to encourage people to share their top tips and tricks for moving house, with the winner receiving payment of their electricity bills for a year. While everyone understands the reality of moving is never simple, Direct Connect have been doing their bit to help make it easier by sharing information, tips and advice to make the process smoother for everyone. Direct Connect CEO David Holman says, “We want to create a community to help provide advice and assistance to people moving house, as we know what a stressful time it can be. We’ve helped move over a million households and want to use this knowledge to help future movers.”
TOP MOVING TIPS Snap a photo of your electronic device set-up Rewiring your electronic device set-ups, like your television and surround sound system, can be impossible. The interweaving colourful wires appear to be a labyrinth that not even the Goblin King could traverse, so it’s a good idea to snap a photograph of the set-up on your smartphone to use as a reference point when setting it up again in your new home.
CAMERA SNAPS AND CLING WRAPS
10 CLEVER WAYS TO HELP YOUR TENANTS ‘HACK’ MOVING DAY ON MOVING DAY, most houses resemble a fortress
of cardboard boxes and the occupants are so stressed that no amount of green tea or yoga can calm their nerves. Here’s where you can step in and share some tried and tested tips from the moving experts, Direct Connect.
32 ELITE PROPERTY MANAGER • AUG-SEP 2017
Place your hanging clothes in garbage bags We know it doesn’t sound glamorous, but you can save a lot of storage space by sliding bundles of your clothes on hangers inside a plastic garbage bag on moving day. This will not only keep your clothes and hangers in the one place, but it also allows them to be stored flat and protects them from dirt and rain. Label and colour-code boxes Label and colour-code boxes, so they can be identified at a glance. Correlate different colours with rooms of the home – like green for the kitchen – to make sorting through boxes a breeze. Use clear plastic boxes for items you need first, like the kettle and the toaster. Store electronic cables in toilet rolls Do you have old toilet paper rolls sitting around your bathroom? Well, you can use them to store your cables so that they don’t wind themselves into a tangled nest while you’re in transit. You might even decide to label each roll, so you remember which device each cable belongs to. Protect fragile stemware with socks If you’re looking to protect the kind of
stemware that only makes an appearance on your dining table at special occasions, then we have the answer you seek. Protect fragile stemware during your move by storing wine glasses and glassware inside clean socks. This clever life hack will help prevent breakages and scratches in the glass, while also freeing up space in your drawers.
heavy furniture like your couch, you can slide it across the floor by placing magazines beneath each corner. If you’re looking for something a little more heavy-duty, then you can even use a frisbee to ease the physical burden of moving furniture. Snap-lock sandwich bags are your friend From storing your favourite jewellery pieces to important screws and nuts for your coffee table, snap lock sandwich bags will keep small items safely together. Put your trusty permanent marker to work and label each sandwich bag, so you can easily spot the screws and nuts needed to put your furniture back together when the time comes.
Wrap drawers with plastic cling wrap Who said you had to clear out your drawers to move house? We suggest that if possible you keep the contents inside your drawers and simply wrap the drawer with plastic cling wrap. This will eliminate the need for additional boxes and all you will need to do is remove the plastic wrap and slide the drawer back into place.
“WE WANT TO CREATE A COMMUNITY TO HELP PROVIDE ADVICE AND ASSISTANCE TO PEOPLE MOVING HOUSE, AS WE KNOW WHAT A STRESSFUL TIME IT CAN BE. WE’VE HELPED MOVE OVER A MILLION HOUSEHOLDS AND WANT TO USE THIS KNOWLEDGE TO HELP FUTURE MOVERS.” DIRECT CONNECT CEO DAVID HOLMAN.
Use suitcases to carry heavy items If you’ve recently returned from an overseas trip, then you probably own a suitcase or two. As they will most likely be joining you on your move, put them to good use and fill them with heavy items like books or kitchenware. You can roll them along the floor using the suitcase’s wheels without having to worry about boxes breaking. Place foam plates and coffee filters between porcelain plates When it comes to packing porcelain plates, you can protect them from breakage by placing either foam plates or coffee filters between them. This will also save precious moving time, because you won’t have to wrap each plate individually. The same holds true for your kitchen knives – simply place them inside an oven glove for safe storage. Slide furniture along using magazines Rather than straining your back by lifting
MORE HACKS: • Number your boxes 3,2,1 according to “unpacking urgency”. Make sure all the boxes labelled 1 go on the removal truck last so they come off first. Or if you are doing more than one run, get them delivered on the first run so the essentials are in place. • Wrap up your dishes in your shirts. Not only are you saving on bubble wrap, you’re also packing double the stuff at once. Genius! • Label your boxes on the side as well as the top, so when you stack them you’ll always know what’s inside. • Put an elastic band around both sides of the door handle so you don’t get locked out. • Get the kids involved, make it fun, counting items one by one. Let the kids plan their room, pack treasure boxes and time will zoom! • When you get to your new house, the first thing you should do is make your bed so you can get into it at the end of the day. • Put all your essentials in one box, that way you don’t have to spend hours unpacking every box looking for them. • Start well before the move – get rid of anything you haven’t used in the past year. De clutter your move! • Put the clothes straight on the back seat of the car, still on their hangers, then hang straight in the wardrobe in the new place. As the moving experts, Direct Connect provide advice in all aspects of the moving process. Their local account managers are on the ground in each state hearing stories from property managers, which gives them a full perspective and understanding of the stress involved in the moving process. The Direct Connect customer service team bring this understanding to the call, and use empathy to understand the moving process and the stresses along the way. Download these moving day tips for tenants at eliteagent.com.au/directconnect. ■
epm.eliteagent.com.au 33
LEADERSHIP/TECHNOLOGY
AGILE EFFICIENCY and Bringing Teams Together ROCKEND CTO ANDREW TURNER has spent the last 10 years of his career
managing, developing and implementing major software, product and technology projects for Rockend. For Andrew, success is delivering high-quality, feature-rich software and releases seamlessly and rapidly to customers, and bringing the Development and Operations teams together has been an essential part of that. But, as he explains, these ‘Agile’ development principles can help you serve customers better too.
W
HEN AN OPEN
and collaborative environment culture exists, you can get more done. For Rockend/ PropertyTree, our development and operations teams work closely together, automating processes with a focus on
delivering quality products at all stages of the cycle, whilst promoting a sense of shared accountability. I’m going to give you a behind the scenes look at why we do this and how it works so well.
WHAT IS IT? DevOps is a set of agile processes that fosters a culture of open collaboration
34 ELITE PROPERTY MANAGER • AUG-SEP 2017
between the traditionally siloed development and operations teams. With shared accountability, this eliminates the ‘blame game’ as the team works together more efficiently to produce great products, and respond to issues in a timely manner. While some of the specifics of the processes may be exclusive to businesses that deliver Software-as-a-Service, like
PropertyTree, the principles can be applied to non-software businesses, like real estate and property management agencies.
THE CULTURE THAT DRIVES EFFICIENCY Rockend has been, and always will be, committed to providing real estate and strata professionals with software solutions that build their business, grow their profits, automate manual and mundane tasks, and deliver the best experience to their customers. To continue delivering market-leading products to the hands of our customers faster than ever without compromising quality or stability, we are shifting to a 100 per cent DevOps culture. By doing so, we will be able to: • Implement a new, large-scale Agile process throughout the business. Agile, according to the team at Atlassian, is a structured and interactive approach to project management and building development, most commonly used for software. It provides teams with the ability to respond to change without going off the rails. Agile makes it so deadlines are based on velocity and the team’s capacity, setting everyone up for successful product delivery through data-driven deadlines. • Drive an integrated multi-device strategy • Complete a Microsoft Azure infrastructure re-architecture • Embrace the key practices of DevOps culture, such as the implementation of a Continuous Integration Continuous Delivery (CICD) pipeline, allowing for a fast development feedback loop and continuous delivery RAPID TIMEFRAMES TO DELIVER QUALITY Developing software for high-volume customers means DevOps is essential for success. If anything goes wrong it could impact thousands of people and cost millions of dollars, so an Agile system is needed to ensure we rigorously test our releases and respond to problems instantly, producing fixes in a rapid timeframe. We are currently engaged with Vibrato, an external DevOps business specialist, to assist us with our migration to a futureready, fault-resilient cloud platform built on Microsoft Azure to ensure that: 1. The team is responsible for both endto-end engineering and operations. Collectively, they cover development,
CICD pipeline, cloud infrastructure, monitoring and resolution. 2. We are building out a new DevOps feature-ready Azure infrastructure using Infrastructure As Code (IAC), and also building out and implementing a new CICD pipeline. 3. We are moving all development to Test Driven Design (TDD), incorporating Unit Tests and Service Layer Tests to enhance our fast CICD feedback loop.
THE END RESULT: GETTING NEW FEATURES FASTER This increased customer value manifests itself in several ways: • More frequent releases • Faster problem resolution • Higher quality products Without the back and forth ‘not my problem’ situations that can occur
DEVOPS PROCESSES ENABLE US TO IDENTIFY SOFTWARE ISSUES AS SOON AS CODE HAS LEFT THE DEVELOPERS’ FINGERTIPS. in a traditional siloed development environment, customer issues are resolved faster. The implementation of key processes and increased efficiency allow for more frequent releases – meaning features can be released as soon as they are developed for immediate customer use, rather than being delayed for a bundled release on a less regular basis. The increased automation results in more consistent and rigorous testing. By getting new features faster and more rigorously tested, a higher quality product is delivered to our customers which will positively impact their business and therefore their clients. Increased agility and open communication mean any problems that arise are resolved faster, ultimately providing the best possible customer experience.
SOME ‘AGILE’ TAKEAWAYS FOR YOUR BUSINESS DevOps is not exclusively concerned with automating a deployment pipeline for software businesses. Here are three of DevOps’ guiding principles that you can implement and action in your business today to streamline processes and better serve your customers:
1. Embrace systems thinking Systems thinking breaks down silos as it requires leaders and their teams to view their organisation in its entirety as a system and review its performance accordingly. Based on the data or knowledge collected, they must redesign their services to tackle the root cause of issues and therefore lower costs by designing out ‘failure demand’ – the failure to do something or do something right for the customer. This encourages collaboration, empowers employees and will boost your customers’ happiness and retention. 2. Implement feedback loops A feedback loop is a pathway or channel formed by an ‘effect’ returning to its ‘cause’, creating an opportunity to improve or rectify an action or process you perform or use in your business. A feedback loop could be as simple as sitting down with your property managers after open-house showings and asking: • What worked? • What didn’t? • What could you do next time to amplify the experience for potential customers? 3. Foster a culture of continual learning and experimentation While this may sound expensive or time consuming, it doesn’t have to be. A way of creating this culture could be incorporating a segment in your regular team meetings that discusses the following: • Taking risks and embracing failing forward (learning from what went wrong) • How practice, repetition and refinement are all prerequisites to success and mastery The calibre of the Product and Engineering teams here at PropertyTree and Rockend are second to none. This, combined with our shift to DevOps, means that we have the capability to move quickly in any necessary business direction, adapt to the ever-changing market conditions and best service our customers, which will ensure they are able to best serve their customers too. There are big things to come in the next few months from us, so watch this space! ■
ANDREW TAYLOR is the Chief Technology Officer at Rockend/Property Tree. For more information, visit rockend.com.au.
epm.eliteagent.com.au 35
BUSINESS DEVELOPMENT
A How persuasive is your listing presentation?
A GOOD LISTING PRESENTATION needs to inform,
persuade, entertain and inspire. Penelope Valentine of Rent360 explains how to wow your next potential client.
T 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, persuade, entertain and inspire. Interestingly, these are four criteria that I think all good listing presentations should meet. When I was a BDM I had a set structure but would always tailor my presentation to my audience, and the key here was to ask questions beforehand so I understood what was important to them.
INFORM It will come as no great surprise to anyone that property investors are more savvy and knowledgeable than ever before. Informing them of what is happening in the local marketplace and giving them relevant insight into what they can do to get the most out of their investment really means you need to be constantly updating your knowledge base and educating yourself – not only on what the rental market is doing but also what is happening with contribution factors like interest rates, and legislative and government policy changes. Subscribe to industry blogs, local and national news forums, and attend events that bring like-minded people together so you can learn from your peers. PERSUADE Let’s face it, you are there to win the business. Your aim is to persuade that investor that you, above all others, are the best person to look after what could be their most valuable asset. So how do you persuade someone? Basically, you need to get that investor to believe in you. So know your stuff and, if you don’t know the answer to something, then tell them that. Let them know when you will get back to them with the answer and make sure you follow through. Do your research before you go into the property; be on time and be prepared. Sort your energy out, be genuine and be confident. All of this in concert will get you a long way in convincing the investor that you and what you represent are the best choice for them. If you like to read, Influence by Robert B. Cialdini is a good book on this subject. ENTERTAIN People do business with people they like. I am not suggesting you go into the
36 ELITE PROPERTY MANAGER • AUG-SEP 2017
presentation with your best ‘an Irishman, an Englishman and a Jamaican walk into a bar’ joke, but it helps to have an air of calm about you that relaxes the other person and allows your personality to shine through. Real estate is a people game, and the type of person you are is just as important in showing how you will ensure their investment property is taken care of. If you can make someone laugh, it is far more likely that they will remember you. Storytelling is an important art form in new business. Being able to recall events where you had a great outcome with a similar property to theirs, or a near disaster just up the road that you were able to salvage in the nick of time, all goes towards you creating a bond with the investor. Facts and
WHATEVER YOU DO, DO NOT BECOME COMPLACENT BECAUSE I ASSURE YOU YOUR COMPETITION IS SURGING FORWARD.
figures are important, but for a successful presentation you need to pepper these with your own insights and observations.
INSPIRE For me, this is also about ‘wowing’ someone. You’ll know when you have come away from meeting someone, whether in a professional or personal capacity, and you feel inspired. They introduce themselves with a warm smile and a solid handshake. They are confident but not cocky. You feel that they have listened and understood you. They are knowledgeable, but don’t make you feel inept. And the biggest win is when you never feel like you were being sold to but you want to give them your business. It takes time and practice to master all of this, but with commitment to your craft and a willingness to invest and improve yourself you will get there. Look for external resources to help you with this, like Tools of Titans by Tim Ferriss; and if you can get a mentor they will be an invaluable support to run ideas past and roleplay with. It’s normal to be a bit nervous before any new business activity, and that’s okay because it means that you care. Looking for ways to get better at what you do will make
you invaluable to any organisation you work for, and put you head and shoulders above your competition if you work for yourself. Whatever you do, do not become complacent because I assure you your competition is surging forward. In our organisation we provide regular training and encourage our property manages to join webinars and attend events so they are continually extending their knowledge and themselves. Effortlessly presenting to inform, persuade, entertain and inspire people does not come naturally to most people, but is something that anyone can learn. With practice comes improvement, and the more business you win the more you will love what you do. And surely that is the most powerful and important criteria for everyone. ■
PENELOPE VALENTINE is the Co-Founder and Chief Operating Officer of Rent360, Australia’s first online marketplace for property management. She has worked with McGrath, Ray White and most recently served as General Manager of LJ Hooker in Sydney’s Northern Beaches.
MUSCLE UP AND RAISE THE BAR IN REAL ESTATE [ insights into real estate businesses beyond the numbers ]
REAL INDUSTRY KNOW HOW There’s a good a chance our real estate accountants have done it before so lean on us to help you reach your potential.
STARTUP, GROWTH OR SUCCESSION We can help at all stages of the business lifecycle. Love helping out individuals with their tax returns and personal planning too.
YOU DON’T KNOW WHAT YOU DON’T KNOW We are specialists in Real Estate Industry. We are specialists in accounting, tax, superannuation, bookkeeping, business, etc. Lets collaborate for a better outcome that allows you to focus on what you are good at.
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[DEPOT[ business
SUCCESSION PLANNING
Time to Sell?
YOU MIGHT THINK there’s really only one way to sell a business: the buyer
makes an offer, the seller accepts the offer and the deal is done. Easy, but incorrect; there’s a little bit more to it than that. The first question you need to answer is what are you selling – the asset, or the shares?
T
HE MAIN question that interests the lawyers is whether the parties are trying to negotiate an Asset Sale or a Share Sale. So what’s the difference ? An asset sale involves the sale or purchase of part of the business, while a share sale involves the sale of 100 per cent of the company’s shares. Tax is a key ingredient in determining which way the parties transact. Generally speaking, buyers will prefer an asset sale because they only want to
buy the parts of the business they like. This makes sense. As a buyer you want the opportunity to pick and choose ahead of buying 100 per cent of the entire business, where you might inherit some bad with the good. On the other hand, sellers will often prefer a share sale as it gives them a clean break from the business. Sellers have an all-or-nothing approach, rather than winding the business down or just selling the key assets. While the choice may sound relatively simple, choosing the wrong structure
38 ELITE PROPERTY MANAGER • AUG-SEP 2017
can dramatically affect the after-tax position for both parties. Regardless of which structure is preferred, it is essential that both parties and their advisors have undertaken sufficient due diligence to ensure there are no nasty surprises after the deal has been done.
ASSET SALE: FIVE POINTS TO CONSIDER 1. Employees When buying an asset, the employment relationships are not transferred to the buyer. It will mean the seller has to terminate the employment contracts
and the buyer enters into new contracts with each employee. A key consideration for the seller is the treatment of accrued entitlements, which vary depending on the terms and conditions for each employee. 2. Assignment A ‘biggie’ for real estate rent rolls, where key contracts or the consent of landlords to be assigned may be required – or they may not be assignable at all.
5. Goods and Services Tax (GST) Where all the assets of the business are transferred across to the buyer, the sale may be classified as a ‘going concern’. Alternatively, GST may apply if the sale cannot be categorised as a going concern.
SHARE SALE: FIVE POINTS TO CONSIDER 1. Business continuity The buyer steps into the seller’s shoes and the business carries on. In many cases,
GENERALLY SPEAKING, BUYERS PREFER AN ASSET SALE BECAUSE THEY ONLY WANT TO BUY THE PARTS OF THE BUSINESS THEY LIKE. 3. Cherry-picking the asset Buyers have the opportunity to choose which assets they want, and to leave unwanted assets with the seller. 4. Apportionment of the purchase price The purchase price may be apportioned between the plant and equipment, stock, and goodwill within relevant parameters that may result in some tax savings for the seller.
customers may not even be aware of the change of ownership. 2. Employees Unlike the asset sale, the employees will usually remain with the business and the buyer as the legal entity of the employer remains unchanged. 3. Assignment Many real estate business sellers prefer a share sale as it doesn’t require the
assignment or issuing of new management agreements prior to the sale. This issue may vary from state to state, but generally it’s a lot easier to sell the shares than reassign management agreements, particularly with larger portfolios. 4. Business liabilities Due diligence is the key here for the buyer, particularly regarding unrecorded liabilities including tax and warranties they may not be aware of. 5. Seller warranties The buyer must obtain warranties from the seller to ensure they are not left with any nasty surprises post-sale, including unpaid fringe benefit tax or payroll tax. Having negotiated a number of both asset and share sales transactions, I believe the key tip for both parties is to take sound legal and accounting advice – and do it early. ■
JOHN RIGBY is a Certified Practising Business Broker who has spent the last 15 years in the industry, brokering some of the biggest deals in Australia. For more information visit sellabusiness.com.au.
l We may not be Reasuperheroes, but that’s the service standard we strive for
So we can’t leap tall buildings in a single bound, but when it comes to service, our goal is superhero status
1800 661 662 | F: 1300 794 773 | enquiries@rentcover.com.au | www.rentcover.com.au Elkington Bishop Molineaux Insurance Brokers Pty Ltd | ABN 31 009 179 640 | AFSLN 246986 | Est 1975
RERCA5023-170727
For more information about our service superheroes visit superheroes.rentcover.com
epm.eliteagent.com.au 39
The Last Word
Fiona Blayney
BEHIND CLOSED DOORS Watching a couple of strangers one morning over breakfast prompts Fiona Blayney to consider the pitfalls of making quick assumptions about the people we deal with on a daily basis.
S
itting here in a café in Melbourne, grabbing a quick breakfast before I head to training for the day, I am surrounded by people doing the same. Same same but different. My lady friend to my left (yes, you’d be right to imagine me being that person who strikes up a conversation with anyone) has been patiently waiting for her partner to arrive for his birthday breakfast. They’re English and there is a stack of birthday mail sitting neatly at his place setting; she’s super-excited and, as I glean from their conversation over the next 30 minutes, it’s pretty obvious this is their first birthday together. (I’m sure Chris Helder would be pleased to know part of the birthday gift exchange included his latest book!) To my right, two gentlemen who otherwise would appear like the odd couple enjoy matching breakfasts and discuss everything engineering; I have no doubt they have been thrown together today by their careers. As the conversation ensues, one is visiting from abroad and there is an underlying concern for themselves and their team members as their international workplace goes through massive change. Two ladies holed up in the nook in the far corner, with the roll of often moist eyes, can be seen to discuss the intricacies of their lives; they’ve already
had two pots of tea and look well and truly settled in despite the early hour. As for everyone else, we are all singletons, equipped with our distractions for the morning: laptops, papers, books, phones, iPads – the necessities the lonely traveller takes everywhere to ‘maximise time’, which is code for ‘I’m on my own and I don’t want to sit here staring into space’. In my backpacker days, I recall sitting on the steps of a myriad of island locations, playing ‘what’s their story?’ with my fellow traveller, closely followed by ‘how long have they been together?’. A fascinating assumption on the details of a couple’s life from two 22-year-olds who observed for 20 seconds… it provided hours of free entertainment. These types of observations and assumptions play out minute by minute in all of our lives. Imagine if we consciously stopped to consider their effect on how we interact with each other. I’ve always been intrigued by people, those I
40 ELITE PROPERTY MANAGER • AUG-SEP 2017
AS A COACH, I HAVE LEARNT THE HARD WAY, THAT NOTHING IS AS IT SEEMS. know and those I simply pass by. Who are they? What’s happening in their life? As a coach, I have learnt the hard way, that nothing is as it seems. Forget Housewives of Sydney; I’d be a billionaire with Real Estate Agents of Australia Uncensored. Seriously though, as leaders, sales agents, property managers, we all make immediate assumptions, just like I have today in this café. It’s pretty obvious why we do it; in the most part we have an inbuilt radar system dating back to caveman days, fight or flight mode. It tells us to be afraid or be open. It’s primal. I get that it’s a jungle out there, but the office, a vendor’s home, a tenant’s rental doesn’t exactly require you to
swing from a vine. Instead of holding onto the immediate assumptions we create, I wonder how you’d change your interactions with people if you saw past these initial observations. What would you do differently? Would you listen more attentively, ask better questions? Would you be kinder, more patient? Would you alter your processes? Change the wording of your emails, the tone of your letters, and the speed of your reactions? Would you take the time to care more? We are in a pretty powerful position, meeting people at times when they are most fragile, at their most vulnerable. After all, we are dealing with them in a transaction revolving around their most basic of human needs: Shelter. Observations at a café on a cold winter’s morning passes the time, but incorrect assumptions in our line of work have the power to change the course of someone’s life. You never know what goes on behind closed doors. I really hope the birthday boy enjoys his surprise weekend. She’s been planning it for months! ■
FIONA BLAYNEY is the Founder and Director of Real+, an industry-first property management learning platform. For more information visit realplus.com.au.
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