USING TECHNOLOGY TO BUILD CONNECTIONS LEARN FROM THE BEST #17 APR-MAY 2018
BRENT MARTENS AND MICHEAL RAMSAY
GOLD ON THE COAST
QUALITY OVER QUANTITY RELATIONSHIP STATUS: IT’S COMPLICATED
Innovation. Growth. Trust.
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Contents Regulars 006 READER PROFILE Madeleine Smith 008 WATERCOOLER Catch up on what you may have missed 018 CHAMPIONS RETG Awards 020 PM MENTOR Natalie Hastings 022 BD MASTERY Tara Bradbury
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024 REALTY BYTES Alister Maple-Brown 046 PM Q+A Connie Mantello, Mantello Real Estate 048 ASK THE COACHES Lauren Kirk, Heidi Walkinshaw, Kate Benjamin
Everybody’s talking about 010 EVERY AGENT HAS A STORY Back for 2018 with thanks to Console
First Person 012 RELATIONSHIP STATUS: IT’S COMPLICATED Fiona Blayney 014 HOW TRANSPARENCY CREATES TRUST Jess Kindt 016 DR PROPERTY MANAGER Debbie Palmer
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Cover Story 026 GOLD ON THE COAST Brent Martens and Micheal Ramsay, Harcourts Coastal
Features 030 HOW MANY PROPERTIES CAN A PROPERTY MANAGER MANAGE? Kasey McDonald 032 MAKE YOUR MOVE Rik Rushton 034 QUALITY OVER QUANTITY Natalie Wendell 036 ACTING ON EXPERIENCE Karmen Costigan 038 KEEPING IT IN THE FAMILY Greg Taylor
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040 WHY AN INSURANCE BROKER CAN BE A GREAT ASSET TO YOUR BUSINESS Sharon Fox-Slater 042 THE BEST OF INTENTIONS Ush Dhanak 044 READY SET CONNECT PropertyTree with Movinghub
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HANNAH BLACKISTON
RIK RUSHTON
FEATURES WRITER, ELITE AGENT AND ELITE PROPERTY MANAGER
AUTHOR AND IN HOUSE COACH, THE AGENCY
Where are you from originally and where do you call home now? I was born in Gloucester, England, but I’ve been in Australia since I was 7 – initially out in Windsor, NSW, and now happily settled into Sydney’s inner suburbs. Who or what inspires you at the moment? I get inspired by new things almost daily; people who are incredibly passionate about what they do never cease to amaze me. What’s the most important project you are working on right now? It’s a toss-up between the novel I’m writing (or trying to write), my career and spending more than five minutes per week with my fiance. Trend to watch in the industry? While I loathe the term ‘disruptor’, the trend of people offering the same experience cheaper and/or faster is not
Where are you from originally and where do you call home now? I live in the pristine Dandenong Ranges, just above the hospital I was born in. So, whilst I’ve travelled the world, my home has always been in one of Melbourne’s most idyllic settings. Who or what inspires you at the moment? We live in the most opportunistic time in human history, where the ability to gain all the wisdom of the ages and the possibilities for the future is just a click away. I’m inspired by the connection and collaboration with those seeking a better quality of life. What’s the most important project you are working on right now? I’ve just had my first book published, The Power of Connection: How to become a master communicator in your workplace, your headspace and at your place, which was a major project for most of 2017 and the early part of 2018. The book is now a bestseller around Australasia and online (Amazon, Booktopia.com.au) and about to be recorded as an audible book in the USA, which is a major development for me! Trend to watch in the industry? The modern real estate landscape is all about two things: technology and methodology. Agents today need to know how to use technology to drive their methodology of moving clients with added value. Favourite quote or words to live by? “Tune in before you broadcast.” In other words, understand the other person before expecting them to understand you.
26 going away. We need to be aware of the need to add value to every transaction – or else be disrupted (sorry!). Favourite quote or words to live by? “This too shall pass.” Originally a Persian adage, it’s a great reminder that time heals everything.
CONTRIBUTORS RIASAT AZIM
PRODUCT OWNER, ROCKEND Who or what inspires you at the moment? Being in product development, inspiration comes from many different avenues; from innovators and thought leaders like Elon Musk or Steve Jobs, to watching our own
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agents disrupting the real estate space. What’s the most important project you are working on right now? I’m fortunate enough to be part of the team helping define and create the framework for our ecosystem. This will give our customers access to a variety of products and services, helping them take their business to new heights. Trend to watch in the industry? Increasing efficiency and accuracy through automation is quickly becoming a priority in many businesses, and the real estate industry is no exception. I believe the Internet of Things, machine learning and AI will play a major role in shaping the real estate landscape. Favourite quote or words to live by? “Intelligence is the ability to adapt to change.” – Stephen Hawking
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14 JESS KINDT
RENTAL DEPARTMENT MANAGER, HARCOURTS MARKETPLACE Where are you from originally and where do you call home now? I’m an Adelaide girl through and through, although I’ve been in Brisbane over 20 years. I still have a weird Adelaide accent, crave Balfours pasties and Farmers Union iced coffee, and refer to swimmers as ‘bathers’. Who or what inspires you at the moment? My mum. Cliché, I know, but she’s overcome breast cancer twice, raised three kids under adversity, has a serious heart condition that affects her health daily, yet wakes up every morning with a smile and is by far the hardest-working person I know. Her professionalism moulded my work ethic and has contributed to my positive attitude each day. She’s always been an inspiration to me. What’s the most important project you are working on right now? Professionally, I’m re-jigging my full marketing plan for the year to create better value for my clients. I’m getting rid of the ‘noise’ in my marketing and replacing it with value-adding, rich content. Personally, I’m in the process of conducting a full makeover of myself and my life! Trend to watch in the industry? The demand for flexibility for employees to work from home and/or to work school hours in the office. We’ve been able to snap up amazing workers due to other businesses not considering this work arrangement. Favourite quote or words to live by? "Hustle for the muscle. Risk it for the biscuit."
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READER PROFILE
JUST DO YOU As a small child Madeleine Smith loved drawing floor plans, and she was later offered her first job in real estate while working as a ‘checkout chick’. Now BDM at LJ Hooker Gosford and still enthusiastic about property, Madeleine says the best advice is to be yourself. Madeleine, tell us a bit about yourself and your role at LJ Hooker Gosford. I moved to the Central Coast in 2012 and was excited to stay with the LJ Hooker brand and take a job in 2013 as a property manager. I looked after a portfolio of 300-odd properties for a few years before taking a leap into the BDM role. It was a huge adjustment for me, but something I was really excited about and still am. It’s a role that allows me to develop great relationships with people and offers flexibility around typical days and tasks. I work closely with both my sales and property management teams and we all have a strong level of trust towards each other, which is important. I am responsible for finding and on-boarding our new clients, as well as building relationships with the existing ones.
scrapbooks. Then one day my old boss came into my work (I was a checkout chick at the time) and offered me a receptionist position – the rest is history! I worked my way up from that; it has been really helpful to understand all the roles within the property management side of the business to better complete my own tasks and work with the teams.
"If you do something, people will judge you. If you do nothing, people will judge you. Just do you."
What motivated you to get into real estate or property management? Honestly, I have just always loved houses – I remember when I was really little drawing floor plans and looking through the real estate section in magazines to make
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What is the market like in your area right now? A buzz! We have some new developments going up for the first time since I have worked on the Coast, so it is really interesting speaking to buyers looking at these versus the established houses and units we are used to. A lot of my investor clients are Sydneybased, so educating them on the difference in our market has been an important part of ensuring good results that they are impressed with. Who or what inspires you? My mum. She just does what has to be done and doesn’t complain about it. Also I would have to say all the amazing people in my brand family (LJ Hooker) – seeing their successes and how supportive everyone is really makes you want to do more. In your ‘briefcase’ right now is… In my handbag, apart from the typical, I always carry a tape measure, a doorstop, hand sanitiser and hand cream, and an assortment of snacks to
make sure I eat. The back of my car is another story, with a whole bunch of extra things that I find myself frequently needing like light globes, batteries, Spray n’ Wipe, brochures and so on. Something (or someone) you couldn’t live without? Wine. And my assistant. I would sleep in the office if I had to do all the admin and follow-up tasks myself. What do you enjoy most about Elite Agent/EPM Magazine? It’s an easy read and relatable, because it’s put together by real people on the ground in the industry. It’s the kind of magazine you can pick up and put down, time and time again. What apps do you use most at the moment on your iPhone or iPad? Homepass, REA, Instagram and my calendar – if the calendar stops syncing, my world falls apart. I stopped keeping a paper diary a few years ago so it is imperative both at work and socially! What advice would you give someone starting out in property management? Be yourself and don’t be afraid to show your personality. It helps develop the relationship and means people will remember you. Get in front of the client as much as you can; it can be a faceless role otherwise and both of you will get more out of it if you actually meet in person. Don’t think of it as a nine-to-five role but have fun with it. Help your colleagues and share both your successes and challenges with your team. Any words to live by? If you do something, people will judge you. If you do nothing, people will judge you. Just do you. ■
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THE WATER COOLER
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/subscribe.
PM LEADER MICHAEL CONOLLY RETURNS TO MCGRATH McGrath Estate Agents have announced the return of Michael Conolly as Head of Network Property Management for McGrath. Mr Conolly is one of Australia’s most respected experts in property management, with over 28 years’ experience in residential, commercial and business management. Mr Conolly returns to McGrath after a short break from the company. He first worked with McGrath from 2002 to 2005 as General Manager of Property Management and returned in 2010 to a newly established role, Head of Network Property Management. Mr Conolly said of the announcement, “I am very excited to be back with the company once again after being involved with McGrath for more than a decade. I’m particularly excited about the new direction the company is heading and the positive changes taking place internally.”
DIGITAL PLATFORM AIMS TO TAKE THE PAIN OUT OF LEASE RENEWALS FLK IT OVER is a digital platform allowing tenants to sign leases via their smartphone, aiming to save property managers and agencies hours of paperwork. Property managers send tenants a link to their tenancy agreement via SMS before the platform takes them step by step through the details and conditions of the lease, requiring tenant approval at each stage. “The outdated process from approval to signing a lease takes around a week and can be particularly complicated for properties where there’s more than one tenant, or the prospective tenant is relocating interstate or overseas,” said founder Andrew Colagiuri. Signing a residential tenancy agreement via FLK IT OVER takes under 10 minutes and stands to save agents and property managers up to eight hours per week. For more information visit flkitover.com.
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2018 PPM NATIONAL PROPERTY MANAGEMENT CONFERENCE: BOOK NOW! If you are looking for a property management conference to attend in 2018, this event is a standout. Debbie Palmer, Managing Director of the PPM Group, said, “We dedicated months into the planning of the speaker line-up and content to ensure that there is cutting-edge and up-to-date information to take the growth and profits of the property management department to the next level.” With 17 national and international speakers, subjects include unleashing your greatest potential and transforming your mindset, how to conduct health checks, knowing your worth as a property manager, property management into the future, Airbnb and other disruptors, how to utilise social media and managing negative online reviews, working smarter not harder in tackling the modern day property management challenges, how to recruit and
retain team members with greater ease, new technologies and apps transforming property, how to become your local area ‘go-to’ PM specialist, the future of marketing rental properties, the explosion of meth in rental properties, how to reduce your risk of a lawsuit, cyber security protection, 28day action plan and lots more. Book today ppmgroup.com. au or email conference@ ppmgroup.com.au
EVERYONE'S TALKING ABOUT…
EVERY AGENT HAS A STORY Everyone who works in real estate can recount several pivotal moments in their careers from which they either learn, or they grow.
Claudio Encina
Dave Skow
Back for its second season, our ‘Every Agent Has a Story’ series captures the tales of some of our industry’s most popular professionals – across leadership, sales and property management. These are never-before-told stories – find out what these agents would do differently if they had the chance to have their time over again. THIS SEASON’S STORIES… CLAUDIO ENCINA Coach, Speaker and Trainer • As bids stopped below reserve, real estate agent Claudio signals to his rookie auctioneer to ‘hold on’ as he seeks instructions from the vendor. Unfortunately, the auctioneer misinterprets and puts the hammer down. Clear communication, remaining calm and empathy were the big takeaways for Claudio. DAVE SKOW Director, Wagga Property Management • After providing an appraisal price to the owner of a property, Dave is informed the tenant moving in will be paying a significantly lower rent. Suspicious of why they could not afford the recommended rate, Dave comes to understand the true meaning of their intention and learns not to assume anything before seeing the bigger picture.
Suzie HamiltonFlanagan
Laetitia Pearce
Josh Altman
10 ELITE PROPERTY MANAGER • APR - MAY 2018
SUZIE HAMILTON-FLANAGAN Head of Property Management, BresicWhitney • After an OFI at a beautiful beachfront, disaster strikes as Suzie tries to close the heavy glass door to the property in a hurry. A messy hospital trip later, Suzie has learned to place risk management and personal safety first – and wear closed shoes! LAETITIA PEARCE Property Manager, The Leasing Network • After a loyal tenant returns his keys and vacates his unit, Laetitia does her routine vacate inspection. Upon opening the unit’s doors, a horrendous odour emanates from the carpet. Once she realises her tenant had cleaned the carpets in good faith, Laetitia sees the importance of laying out clear rules and regulations in writing. JOSH ALTMAN Million Dollar Listing Los Angeles • As an agent renowned for selling milliondollar properties, Josh reluctantly finds himself helping a woman looking to lease at $4,000 a month. Over a month later, she finds her home, but Josh loses more than he earns. That is, until he receives a call that evening which unexpectedly turns the tide. MATT ALTMAN Million Dollar Listing Los Angeles • At a broker’s open house a man drives in with an old, decrepit car. His presence sends warning bells among the agents present that he is a fake, uninterested buyer. Despite this, Matt decides to strike up conversation and chats with the man for half an hour. Fast forward to six months later, where Matt receives a phone call and learns the importance of not judging a book by its cover. • Every Agent Has a Story is exclusively brought to you by Elite Agent in association with Console. Watch the series at eliteagent.com/stories. Series runs from April 2018 - July 2018.
Matt Altman
Listed A new monthly web series featuring experts, insights and places Episode 1: Owning the rent game with Lauren Robinson of Rental Results From a Queenslander-style residential office in the foothills of Mount Coot-ha, wunderkind Lauren Robinson has built a property management empire from the ground up. The journey has seen her win numerous prestigious awards including 2017 Property Manager of the Year. Between running Rental Results, surfing on the weekend and practising Pilates, Lauren has written and published a book about investing in property as a new landlord titled “Rented�. We caught up with Lauren to find out how she got started in the business as well as how she uses marketing savvy to win new business.
Watch episode one online now at agent.realestate.com.au/listed
first person
FIONA BLAYNEY
Fiona Blayney is the founder and director of Real+ online. For more information visit realplus.com.au.
Relationship Status: It’s complicated
Fiona Blayney looks at the murky world of office romance and suggests the best way to avoid an awkward situation is to set clear boundaries from the start.
IT’S BEEN SOME 27 YEARS
since I started in the workforce. I recall with much amusement a group of us girls switching out of our school uniforms, Clark Kent-style, and into our ‘Woolworths Checkout Chick’ fashionable wear in the rather private space that was the back seat of the 107 bus heading straight from school to the illustrious Top Ryde. So much fun was had at what we affectionately called Topsy Top Ryde; lifelong friendships developed, memories made and stories created that perhaps can only be repeated over a glass of wine with people who were there. A walk through the adolescent ages of school and uni jobs includes cooking at the local Italian, Pizza Delivery driver and, of all things, bra fitter at ‘Grace Bros’ as it was previously known (yes, I know that’s a curly one). It’s safe to say that the gathering of friends continued and the exploits along the way simply became – well, let’s call them ‘more mature’. The teenage rumour mill would go into overdrive on a regular basis as feelings were shared, party pashes ensued and young love blossomed and fizzled within
a week – sometimes right in the middle of a shift. No doubt those teenage years were a precursor to the events out in the world of full-time work. Sure, we all grew up a little; we became older people with bigger problems, the stakes were higher and the relationships longer. But nonetheless, over the past 27 years we’ve all, like tumbleweed, gathered people into our social circles as result of those 40 hours we spent working each week. NOW I AM NOT SUGGESTING
that everyone should meet their life partner in the broom closet at work, but let’s be frank: there are certainly many couples whose eyes have met over the photocopier and found love at first copy. Others have met at a conference or a Christmas party; and yes, there are those who couldn’t stand each other upon first meeting but, through the sands of time and perhaps the sheer intensity that can be the office, love has blossomed. For, whatever you think of Mr Joyce, are his choices a matter for public debate or private process? Does his boss Mr Turnbull get the final say on who good old Barnaby can and cannot date? Whether you
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someone, have witnessed the process and even watched on with a little chuckle as the two lovebirds attempt to maintain the worst-kept secret in the company. I’m sure the big hill in Canberra is no different. Of course, as nice as it is to have a little romance in your life, every silver lining has a cloud. When that cloud makes its way into the office it can be very uncomfortable for all involved and, depending on the temperament of the couple, it can feel like the whole building is involved. SO I ASK, DESPITE THE BEST
I’M NOT SUGGESTING THAT EVERYONE SHOULD MEET THEIR LIFE PARTNER IN THE BROOM CLOSET AT WORK. agree with his actions or not, at the core, since the dawn of time, many relationships are either formed within the office or infiltrate the office when partners join the business – especially in real estate. Does Mal setting a rule that inter-office romance is a no-no in Parliament mean it won’t happen, or will it simply put it into hiding? We all know
of intentions, is it possible to bring love into the office? There is no way my husband would be racing into the office to work next to me each day, but there are many couples who succeed in this space. That being said, I do see it working and in many instances exceptionally well. I’d say the top five rules to work by include: 1. S etting life boundaries; keep work at work and home at home 2. C reate clear job descriptions and KPIs, and align accountability as with the rest of the team 3. Remember at work you’re speaking with a colleague, not your lover 4. E nsure the team feel safe to communicate any grievances 5. If it hits the fan, take it outside; no one wants to see your dirty laundry Actually, just for good measure, let’s make it six: 6. T he company rules apply to everyone equally, from the boss’ husband to the newest recruit. Keep things clear and consistent or communicate the difference. ■
CYBER ATTACK It’s just a matter of time
Mandatory Notification of Data Breaches With the introduction of new legislation on 22 February 2018 organisations now face greater scrutiny than ever before, especially with more businesses using the “Cloud” to conduct transactions. Failure to comply can result in penalties up to $360,000 for individuals and $1.8 million for organisations.
Cyber insurance is designed to protect businesses’ against various cyber exposures including crisis response, regulatory fines, forensic investigation and data recovery plus so much more. Whilst prevention is key, without a Cyber insurance policy, you may not have the resources to manage a data breach. Cyber insurance includes protection across the following areas:
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A failure to maintain confidentiality of data The unauthorised use of your networks Your online media liability Network or data extortion / blackmail Data loss and restoration including decontamination and recovery Due network security failure or attack
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first person
JESS KINDT
Jess Kindt is the Rental Department Manager at Harcourts Marketplace, with an extensive background in property spanning over 14 years.
How transparency creates trust Jess Kindt has achieved 100 per cent retention over 12 months as she seeks to build a rent roll from scratch – by changing her approach to a focus on building trust. IT IS WIDELY KNOWN that real estate agents are categorised amongst the least trustworthy of professions within Australia. So how do we turn this stigma around with our clients? How do we establish a relationship of trust so that we can build loyalty amongst our client base? No one has all the answers, but since changing my approach to clients I have successfully achieved 100 per cent client retention for going on 12 months and have managed to grow our business exponentially through personal referrals. Mid-last year, kickstarting my fourteenth year in real estate, I was back on the tools after a stint in corporate real estate. It had been a good seven years since physically managing a portfolio and here I was once again, dealing with tenants, owners and tradies as a oneman-band establishing a rent roll from the ground up. I was not necessarily nervous about meeting KPIs around growth of the portfolio as I am an experienced BDM. However, I was nervous about delivering exceptional property management services to ensure that the clients introduced to our business were retained. Starting with no properties under management and seeking to organically grow the portfolio myself, I needed
"I HUMANISE CLIENT RELATIONSHIPS RATHER THAN HIDE BEHIND REAL ESTATE TALK." to make sure I was superorganised (ideal weeks are great) to ensure management tasks didn’t slip through the cracks whilst I was introducing large volumes of new managements to our department. That was the first step. I was always conscious of the reasons why I get a management in the first place – the last agent hadn’t conducted routines on time, the owner didn’t know when
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the lease was renewed and so on – so I made sure these tasks were done on time and, of course, done accurately. Being well-organised includes allowing enough time in your day to communicate with all your clients – tenants, owners and tradies. To create a solid business relationship with these groups, I concentrated on doing three main things: 1. Communicating proactively, not reactively
2. Providing solutions, not reporting problems 3. Communicating consistently, transparently and simply A very basic example is that when a maintenance issue was raised, the tenant would receive daily communication from me whilst we worked to resolve the matter and book in the job. When reporting the job to the owner, I didn’t just report the issue; I provided them options in order to resolve it and just asked for their approval of one of the solutions put forward. When the job was completed, I advised the owner and sent through completion photos of
training
the job for their records. I concentrated on also ensuring I humanised my client relationships rather than hide behind legislative terms and real estate talk. I speak to my clients exactly the same way I would speak to my colleagues, my friends and my family (without the rude jokes and swear words). I didn’t give preferential treatment to owners; all tenants, owners and tradespeople dealing with me receive high levels of service, and consistent and transparent communication. As Eminem would say, “No lies, no gimmicks”. I tell owners exactly where I’m at with any matter I’m dealing with on their behalf. If I make a mistake – and we’re all human and definitely make mistakes – I ensure that I am accountable. Upon reporting matters to owners, I ask their forgiveness and provide them with a solution moving forward (if I haven’t managed to already solve it). I also live by the mantra that ‘you can’t win them all’. There will be clients who are completely unreasonable, even at your very best attempt to keep them happy, and those people should be left alone – perhaps in isolation, with others of their kind, on an island far, far away. Before
we ship them off, we have to ensure we are not weakening under bully pressure, keep our composure and keep doing what we’re doing. I don’t believe in catering the way you do business (especially if you do business well) to the minority of painful people we inevitably will come across in our position. Hold your ground.
support
outsourced accounting
"IF I MAKE A MISTAKE – AND WE’RE ALL HUMAN – I ENSURE THAT I AM ACCOUNTABLE." In summary, transparency creates trust. Trust creates loyalty. Loyalty creates retention in our businesses. Humanising relationships takes the real estate agent out of their mindset – so they’re only dealing with ‘Jess’ rather than ‘the property manager for my property’. Kill them with kindness and consistent communication. Out-communicate the competition. Start the day with a smile. Answer the phone with a smile. To end the day, relax with a glass of wine. ■
elitepm.com.au 15
first person
DEBBIE PALMER
Debbie Palmer is a property management expert coach/trainer and REIQ PM multiple award winner. For more information visit ppmsystem.com.au.
Dr Property Manager
As property managers we wear many hats – debt collector, private investigator, counsellor, lawyer, accountant, negotiator, mediator; the list goes on. But one of Debbie Palmer’s secret success strategies for winning new business is another hat: doctor.
IF I WERE TO TELEPHONE
or visit your agency today and enquire about your services, what would you say? How would you respond to questions like, ‘What do you do for your management fee?’, ‘Why should I choose you?’ or ‘What do you do differently?’ To successfully win new business it is important that you can answer these questions to set yourself apart from your competitors. It is not a simple focus of talking about your services, such as sourcing a quality tenant, collecting the rent, organising maintenance and accounting to landlords at the end of the month. Yes, this is what we do, but the landlord wants to hear about the benefits to themselves. In my coaching sessions I call it ‘the sausage and the sizzle concept’. The sausage is the service that you deliver; the sizzle is the outcome that the landlord wants to achieve – wealth creation, maximised income, optimised capital growth and more money in their back pocket. WHEN WE TAKE AN ENQUIRY
from a prospective landlord or conduct a listing presentation, we can often fall into the trap of overtalking; telling them what we do, instead of listening.
I believe that the best way to win the business is, firstly, be prompt in following up the enquiry. During my career in property management there were countless times where I would call a prospective landlord back almost immediately for them to say, ‘I can’t believe you’ve returned my call, as I have left messages with three agents and got no response’. The second tip is to be professional (know what to say), be yourself and connect with the landlord. And lastly,
and most importantly, put on your doctor’s hat. We are not going to the landlord to present (tell them all about our services) and close; we are going to consult, prescribe and then close. I ONCE HEARD A STORY of a lady who wanted to buy a television. She walked into the retail shop and a young, newly employed and enthusiastic salesperson approached her. ‘How can I help you today?’ She responded that she was
I CALL IT ‘THE SAUSAGE AND THE SIZZLE CONCEPT’. THE SAUSAGE IS THE SERVICE YOU DELIVER; THE SIZZLE IS THE OUTCOME THE LANDLORD WANTS.
16 ELITE PROPERTY MANAGER • APR – MAY 2018
looking to buy a television. He quickly took her to a TV and started to explain the features. ‘This is a 110-inch screen, has 3D, a modern silver colour, a bargain at $1,999…’ and on and on he talked. When he paused for breath the lady responded, ‘But this is not what I’m looking for. I want a white TV. This is out of my budget, I have eye problems and wouldn’t use the 3D aspect, and 110-inch is way too big for our room size.’ When trying to win the business it is important to understand the needs and wants of the landlord. The first five minutes should be about building a relationship connection and not talking business at all. Then you need to take the time to ‘consult’ with them and find out their needs. JUST A FEW SCRIPTS that I have found to be very successful as a lead-in to a presentation: l Do you mind if I ask you a few quick questions? l Why did you call our agency? l What are you looking for in a property manager? l Do you have any concerns about renting out your property? l Have you spoken with other agents? l Ultimately, what is the most important thing about appointing someone to care for your property?
Once you know the needs and concerns of the landlord you can ‘prescribe’ by focusing on the areas of your service that will satisfy their needs and give them peace of mind. More often than not, winning the business is about listening rather than talking. ■
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CHAMPIONS Real Estate Training Group's “Celebration THE REAL ESTATE industry is continually shaped by hardworking, high-achieving professionals who are passionate about their careers and their businesses. Elite Agent would like to congratulate this year’s RETG's "Celebration of Success" Award Winners with a selection of photos from the event.
Wayde Hildrew, Ray White Aspley Group QLD - BDM of the Year
Jacinta Greentree, InvestRent Property Management QLD Property Manager of the Year
Laetitia Pearce, The Leasing Network NSW Property Manager of the Year
Rhett Langlands, John B Grant Real Estate Chester Hill NSW BDM Rookie of the Year The Leasing Network NSW Property Management Business of the Year
Shadi Salehpour, Professionals Lovegrove NZ Property Manager of the Year
LJ Hooker City Residential Australasian Property Management Business of the Year
18 ELITE PROPERTY MANAGER • APR – MAY 2018
of Success 2018� National Awards
Chris Fox, Belle Property Coorparoo QLD BDM Rookie of the Year
Kaly Smith, KS Property Solutions VIC Property Manager of the Year
PHOTOS: BOXBROWNIE
Kylie Hall, Empire Estate Agents WA Property Manager of the Year
We Connect Property VIC/SA Property Management Business of the Year
Renee Smith, LJ Hooker Dunedin NZ - BDM of the Year
LJ Hooker Dunedin NZ Property Management Business of the Year
Just Property Management WA Property Management Business of the Year
elitepm.com.au 19
Property Management Mentor
Natalie Hastings
Natalie Hastings is the Managing Director of hastings + co. For more information, visit hastingsandco.com.au.
SHOULD THEY STAY, OR SHOULD THEY GO? It’s in a property manager’s DNA to find solutions that turn disgruntled clients into raving fans. But if you’re spending hours each week devoted to a problematic landlord, it’s time to consider freeing up your time to win better business. Natalie Hastings explains.
P
roperty 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. Work through the checklist below to establish whether a landlord should stay or go.
THE 80/20 RULE A business adage that rings true regardless of your industry is that 80 per cent of revenues are generated by 20 per cent of customers. Equally, 80 per cent of complaints come from 20 per cent of our customers. And we’re not immune from service issues as real estate professionals either; 80 per cent of quality issues occur within 20 per cent of our service offerings. With the 80/20 rule in mind, think about the landlord you want to move on to greener pastures. Is their behaviour unusually needy and demanding? If they’re part of a high-needs demographic of your rent roll – and you’re providing them with even
a clever diagnostic tool which can help you make swift, frank decisions about clients.
MANY PRINCIPALS ARE LOATHE TO ‘SACK’ A LANDLORD – EVEN IF THEIR BEHAVIOUR IS ATROCIOUS. more tailored service than the 80 per cent of uncomplaining landlords and tenants – they may not be a good fit for your practice. On the other hand, if you are experiencing client dissatisfaction across more than 20 per cent of your rent roll, other quality issues may need to be addressed within your property management department. The 80/20 rule is
20 ELITE PROPERTY MANAGER • APR - MAY 2018
FAIR PAY FOR FAIR WORK Another consideration before moving a landlord on are fees; are they paying rock-bottom management and letting fees? If so, reflect on how this occurred. Were they bringing a sizable portfolio to the business, or one property that has proved a weekly blight on your schedule? If you’re not being paid top dollar for your top-quality service, move them on. ARE THEY BENEFICIAL TO YOUR AGENCY? Some landlords are worth the extra effort and attention if they are a regular source of new business and referral for your agency. In other words, their goodwill and kind words about your service outweigh the additional hours on the phone troubleshooting. However, if they’ve never referred you a prospect, are rude to you on the phone and treat you like a second-class citizen, they’ve really got to go! R.E.S.P.E.C.T. Does this troublesome landlord have you running around in circles getting umpteen quotes to fix a dishwasher simply because they can? Before letting a landlord go,
consider the quality of your communications with them, and their respect for your advice. Do they deal with maintenance matters and tenant requests in a timely and fair manner? If they’re a highly responsive client who is simply an inexperienced or anxious landlord, you may need to support them with additional attention while they get ‘into the groove’. If they refuse to undertake maintenance, have unreasonable expectations around ‘wear and tear’ and are always griping to access their investment property, they are probably more effort than they’re a return on investment. Consider too the distance of the property they’re leasing with your business – is it a serious trip away, or just around the corner? If the property is inconveniently located (and you’re part of a franchise network) perhaps you could ‘trade’ the landlord to another office location. Should they stay, or should they go? The bottom line when considering moving a landlord on must be ‘Are they profitable?’. When you apply the 80/20 rule and account for time spent on your challenging client versus income received for your efforts, the answer will be clear. •
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Business Development Mastery
Tara Bradbury
EMPOWERING THROUGH INCENTIVES While the concept of employing a BDM has been around for a while, many agencies still try to work out the best growth path while finding that special someone who can fill the role. The answer lies in both incentives and accountability, as Tara Bradbury explains.
G
oing 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”. If this is the case, then why are sales businesses still recognised as the alpha into which all marketing funds are poured? Writing about this subject isn’t easy for me; however, I feel it is a very important one which requires proper education. I still have principals of PM departments telling me that if they are paying someone to do a job they should just do it. The idea of an incentive is not even open for discussion. If you want to manage or hire a top-performing BDM in our industry, you must ensure the package is driven for high sales performance. If you put the BDM on a high retainer this will reduce the performance, as they will be satisfied with the income and just sign up whatever comes in through office marketing and the sales
IF A BDM IS SITTING ON A COMFORTABLE WAGE, THERE IS NOTHING TO DRIVE THEM TO ACHIEVE GROWTH TARGETS. department. Most BDMs I work with are expected to do the following and work under similar packages. 1. They sign from five to eight managements before
22 ELITE PROPERTY MANAGER • APR – MAY 2018
making any commission on properties signed and leased. 2. They are paid a quarter of the let fee for the first five, half the let fee for the first 10, three-quarters of the let fee for the first 15 and a full let fee
for 20-plus properties that are signed and leased in the same month. 3. They are paid double the incentive for self-generated leads vs office-generated leads. 4. They are on commissiononly and paid a percentage of the first year’s income. 5. They are in a partnership with the business owner and paid a percentage of the profits each quarter.
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 DEPARTMENT STRUCTURE (THIS IS A GUIDE ONLY) PRINCIPAL/BUSINESS OWNER Leads the property management department and ensures compliance with legislation and general real estate practices
BUSINESS DEVELOPMENT MANAGER REPORTS TO PRINCIPAL/BUSINESS OWNER
DEPARTMENT MANAGER REPORTS TO PRINCIPAL/BUSINESS OWNER
• Builds relationships & manages CRM • Attends networking events • Secures new business • Follows-up prospects • Prepares listing paperwork • Handles self-promotion & social media • Works in with sales team • Manages & updates new listings
• Manages the department • Manages systems and procedures • Leads team meetings • Organises staff training • Handles & manages complaints • KPI management • Steps in when staff are on leave
ACCOUNTS ADMINISTRATOR REPORTS TO DEPARTMENT MANAGER PROPERTY MANAGER
PROPERTY MANAGER
PROPERTY MANAGER
PROPERTY MANAGER
PROPERTY MANAGERS
are the main set of eyes on the investment property and are the main point of contact with the landlord and tenants during the entire tenancy.
PM RECEPTIONIST REPORTS TO PROPERTY MANAGER
LEASING CONSULTANT REPORTS TO PROPERTY MANAGER
• Ensures reception is well presented • Assists PMs with application paperwork • Handles incoming calls • Rent list & internet management
• Prospective tenant liaison & vacant property viewings • Tenancy application checks • Prepares tenant moving in packs • Prepares tenancy documents • Completes tenancy sign-up • Completes full handover for property manager
No matter which direction you decide to go in with incentives for your BDM, it is recommended you ensure they are held accountable for where they are spending
time and what they are most focused on. If a BDM is sitting on a comfortable wage, it is easy for them to get distracted as there is nothing to drive them to achieve set
• Enters rental payments • Daily reconciliation & banking • Monitors dishonoured cheques • Payment of creditors • Bond disbursements • Mid & End of Month • End of Financial Year
CLIENT RELATIONSHIP MANAGER/ LEAD GENERATOR • Surveys current landlords/tenants • Surveys past buyers/sellers • Passes leads onto BDM • Conducts cold calling • Creates appointments for PM and Sales Departments and sells the benefits of the entire agency • Handles direct mail-outs & flyers
rent roll growth targets. Out of all the positions in the property management business, the BDM is the one I have found to be the most thought-out and managed
the least effectively. It may sound simple, but if your BDM is only signing up what the office generates and just covering the base wage, are they really a true BDM? I realise that I’m coming across very forward, but the misconceptions surrounding how powerful a true BDM can be for your business really bother me. If you have a BDM on the right package from the beginning, with a detailed job description and KPIs they must report back with each week, you will know in the first
ENSURE ANY PACKAGE IS DRIVEN FOR HIGH SALES PERFORMANCE. one to three months if they are going to be suited to the role and uphold the business growth vision. During this time they may be signing massive numbers, but they should also be showing strong pipeline growth and a list of referral partner contacts. Once you have the right BDM, it is time to grow your dream team; one that has the same vision as the principal and BDM. Anyone in the team can contribute to the growth path! The most successful property management businesses are rewarded as a team and celebrate every 100 properties in net growth. As you continue to grow your property management business, these are the types of roles you can have as you pave your journey to 500, 1,000 or even 1,500 managements. ■
elitepm.com.au 23
Realty Bytes
Alister Maple-Brown
USING TECHNOLOGY TO BUILD RELATIONSHIPS THE WORLD TODAY barely resembles the one we lived in just 10 years ago. Technology
is integrated into our lives at virtually every moment of every day. Fortunately it's making our lives easier and businesses more productive – and it’s creating opportunities for property managers when it comes to building relationships.
T
oday’s world is filled with technology; so much so that many feel it’s making us ‘less human’. Our mobile devices are never far from reach. We sit at the family dinner table using one hand to eat and the other to tap away on our iPad. We go to our kids’ soccer game on the weekend with our smartphone pinging away in our back pocket with the arrival of every text message. And we perch ourselves in bed late at night with our laptop to do one last check of our inbox before turning the light off. Technology has permeated our business lives too. We all seem to be locked in a constant battle with overflowing inboxes and an avalanche of text messages. Yes, we’re communicating more with our clients. But do we actually have better relationships with them? Real estate has been and always will be about relationships – and technology can be leveraged to enhance your client relationships.
COMMUNICATING IN REAL TIME Your clients expect to always be ‘in the know’. Whether it’s an investor wanting
can define trigger points for particular communications to go out. Whether it’s arrears, inspections or maintenance, automated alerts can help you take control of the communication process and alleviate your workload. At the same time, you’re building your client relationships. With PropertyTree’s fully integrated Automated Communications platform, you can effectively ‘set and forget’ and let PropertyTree do all the hard work for you. It’s easy and effective – and you’re communicating with your clients in real time. Have your relationships with your clients been enhanced through this automation? Yes. But is it enough? Definitely not.
YOU’LL NEVER REPLACE YOUR FRIENDLY VOICE WITH AN EMAIL OR YOUR GENUINE SMILE WITH AN EMOJI. confirmation that rent is up to date or a tenant asking for the status of a repair request, clients have a ‘now’ mentality. If you meet their expectations, it’s a good building block for your relationship. But if
24 ELITE PROPERTY MANAGER • APR – MAY 2018
you don’t, you may find your relationship on shaky ground. Staying on top of everything is challenging, but it doesn’t always have to be. Enter automated alerts. The beauty of automated alerts is that you
PICKING UP THE PHONE With the rise of email, SMS and the plethora of other messaging apps, many of us no longer take the time to pick up the phone. Yes, it’s easy to type a quick email or tap out a short text message. But would your client relationships benefit more if you took the time to speak with them? The impact of hearing your voice, being able to ask questions and knowing that you’ve taken time out of your busy day
Alister Maple-Brown is the CEO of Rockend. For more information visit rockend.com.au.
to touch base with them shouldn’t be underestimated. But let’s take it one step further. Rather than just being a voice at the other end of the line, let your clients see you. Using apps like FaceTime and Skype has become second nature for many of us in our personal lives. We all have the tools we need in our pocket and on our desk, so why aren’t more of us using them to strengthen our relationships with our clients? Human beings are visual creatures, and FaceTime and Skype allow you to communicate via two senses, sound and sight, rather than just one. Allowing your clients to connect with you visually is
so important. They save time. Far from detracting from your client communications, they allow you to have a better quality of interaction. You’re free of being bogged down with routine and mundane communications. You have time to meet with your landlords and talk about how they can maximise their investment. And let’s not forget that, when you’re out and about with clients, technology gives you on-the-spot access to the information you need. If a client asks a question, you want to be able to give them the answer right away. It’s not good enough to say, ‘I’ll let you know once I’m back in
RATHER THAN JUST BEING A VOICE AT THE OTHER END OF THE LINE, LET YOUR CLIENTS SEE YOU. a powerful way to build your relationships. So now that you’ve come out from behind your device and connected with clients over the phone, what’s the next step?
PUTTING IN SOME FACE TIME Without a doubt, relationships are best built in person. We undoubtedly respond better to people whom we’ve met and interacted with. Yes, having lunch or a coffee with a client takes time, but it’s time well spent. ‘But where will I find the time?’, I hear you ask. Fundamentally, property management is a people business and technology can give property managers the time they need to interact with clients. That’s why using tools like automated alerts is
the office’. By using a cloudbased property management solution like PropertyTree, you can access everything you need when you’re out and about. All you need is your device and access to the internet.
GIVING YOU BACK TIME Using technology to communicate with your clients is an extremely valuable way to build relationships. But don’t let your relationships get lost in cyberspace. You’ll never replace your friendly voice with an email or your genuine smile with an emoji. While technology can help you leverage your natural abilities, it will never replace them – so take advantage of the tools on offer to enhance your client relationships. ■
elitepm.com.au 25
COVER STORY
26 ELITE PROPERTY MANAGER • APR – MAY 2018
GOLD ON THE COAST
BRENT MARTENS AND MICHEAL RAMSAY have almost 25
years of BDM experience between them, which comes in handy given the big goals they have set themselves. Part of the powerhouse team at Harcourts Coastal on Queensland's Gold Coast, they say it’s teamwork, dedication, and a unique partnership with the sales team that has given them the edge in such a competitive location.
I
IT’S OK TO HAVE FUN, even when you are tied up in the serious business of growing a rent roll. This is the one of the secrets to success for the Harcourts Coastal BDM duo, whose results speak for themselves. In the last 12 months they listed 511 properties, a number they hope to beat this year through working together, maintaining close relationships with the sales team.
A SYMBIOTIC RELATIONSHIP The Harcourts Coastal office has a robust sales team of approximately 75 agents, who work alongside Brent and Micheal to provide them with leads and help drive the PM side of the business. This belief in the importance of good service is what has forged the connections between the sales team and themselves, and is part of what makes the partnership they share so successful. With the sales team sending across fresh leads before the ink has dried on a contract and Brent and Micheal ready to call investors straightaway, their
objective, they say, is to make it easy for investors to choose them. “Every time a property gets sold, we get notification it’s going under contract along with the salesperson’s details. Then either Micheal or myself will email that agent straightaway saying, ‘Well done, congratulations, is it an investor who bought the property?’ “If one of our salespeople sends a lead to both of us, straightaway one of us looks at it. This responsiveness gives them [the sales team] confidence we’re helping them and their clients,” says Brent.
MAKING IT EASY Their connection with sales agents provides Micheal and Brent with plenty of leads, and Micheal says the key to converting them is making it as easy as possible for clients to sign. This doesn’t involve any fancy tips or tricks, just good old-fashioned customer service. “A lot of people are impressed when you actually call them, after they bought a property last night and filled out the contract and then they get a call from us
in the morning because a salesperson sent it through,” says Micheal. In a saturated market, that tenacious attitude and solid teamwork can be the difference between survival and failure. “I think the main thing is just to do your job,” agrees Brent. “Ring people back and get onto it straightaway. Do what you say you’re going to do.”
A TEAM WITHIN A TEAM Working as part of a team isn’t just a great way to provide a quality service to clients and build a rent roll. Brent and Micheal say it also makes work life easier for them while keeping each other motivated. “Having only ever worked as a BDM on my own, when Brent started it really made a difference to my job,” says Micheal, who worked in sales for two years before taking on the role of building the Harcourts Coastal PM roll. “You’re never going to win everything. Because we are so busy, something could come up in another hour and you’d better be upbeat for that, so you can’t sit and dwell,” says Brent. “It doesn’t matter who gets the listing, we’re here as a team. If he brought back a Form 6 but I hadn’t had the best day, we would still give each other a high five and write it up on our board.”
“EVERY TIME A PROPERTY GETS SOLD, WE GET NOTIFICATION IT’S GOING UNDER CONTRACT.” To keep things super-efficient they’ve streamlined diary management. Although Brent and Micheal keep separate diaries for the day to day, they organise their time to make sure agents always have someone to talk to in the office, and neither BDM wastes a second of their day making unnecessary trips given the large area they need to cover. “Once again, it comes down to time
elitepm.com.au 27
COVER STORY management,” says Brent. “If one of us is out, we like to keep one in the office to handle the things that come up there.”
SEAMLESS WORK PROCESSES The teamwork continues in their own department and a seamless connection also exists between themselves and the property managers, which ensures a smooth process for investors. Over time, the duo have sat down with the PMs in their office and developed a shared checklist, making sure each department’s goals are clear and communication lines are open. This includes sharing duties like sorting keys and booking tradespeople to check the property well ahead of schedule. Alongside leasing agents they then work together to get people through the door as quickly as possible. “When we list a new property we do everything, from getting the photos taken to providing the ad to putting it on the internet,” says Micheal. “We’ve got a huge database of tenants as well, so as soon as we list something we send it straight out to those tenants. I had one, I put it online and got 10,590 people looking at it, and we got 12 people to go through it in less than 24 hours,” says Brent. THINK LIKE A SALESPERSON Were it all to end tomorrow and they had to start over again, the secret to building a successful rent roll is channelling your inner sales agent, says Brent. “You’ve got to be like a salesperson; if you’ve got a sales office, hang off those salespeople, go through open for inspection books, get them to mark down everyone that’s an investor,” he says.
“I THINK THE MAIN THING IS JUST TO DO YOUR JOB. DO WHAT YOU SAY YOU’RE GOING TO DO.” “If you’re starting out new to BDM, go on some sales appraisals with good sales agents and you’ll pick up how they do it, because it’s a similar sort of role.” Personal branding is a lesson often taught to sales agents, but it can pay off in all areas of the real estate industry. The pair say that the presence of the Harcourts Coastal brand in their area
28 ELITE PROPERTY MANAGER • APR – MAY 2018
“IT DOESN’T MATTER WHO GETS THE LISTING, WE’RE HERE AS A TEAM.”
and online has significantly helped them secure clients, but presence alone isn’t enough to make a successful BDM. This system of referrals from the sales team might have sounded like enough to sustain a business, but Brent and Micheal don’t rest on their laurels; their referral network reaches far and wide. “We’ve got finance brokers, solicitors, other sales businesses in the area that don’t have property management departments. Plus, with the time we’ve been around, we’ve built relationships with developers in the area, so we get flicked a lot of leads that way,” says Micheal.
SETTING THEIR OWN GOALS Another aspect of their role that has really made a difference is the leadership of Dane and Kym Atherton, who they say have inspired them to achieve even more. “When you’ve got that kind of influence from the top, it makes you want to work harder, you want to do better, and they see enjoyment in us succeeding too. And it’s been very obvious; there’s been a lot of milestones with individuals, personal ones, and financial and stuff,” says Micheal. “And that’s the thing: we’ve never really
had anyone saying, ‘You have to get this target’; they know we’re doing everything we can to get what we can. “So they trust us as well, which means a lot to us because they know we’re doing the right thing, and they trust we’re doing
the right thing,” concludes Brent. If the team hit their target of 1,000 by 31 May, it will be off to Hamilton Island for everyone; a pretty good incentive to over-achieve the goals they have set for themselves. • HANNAH BLACKISTON
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BEST PRACTICE
HOW MANY PROPERTIES CAN A PROPERTY MANAGER MANAGE? PRINCIPALS ALWAYS WANT TO KNOW if they’re
getting return on investment when it comes to rent roll size and the people it takes to successfully run it. Based on a case study with PMTA members, Kasey McDonald takes a look at the optimum ratio of people to properties.
I
t is a question I get asked all the time, and not just by property managers either. In fact, if I had a dollar for every time someone asked me this milliondollar question, I’d no doubt be sipping mojitos on a tropical island in early retirement! I even found myself discussing this topic on stage last month when I presented at the PM Grow Summit event in the US. It seems everyone wants to know the answer. But there’s no real magic number and it’s not a one-size-fits-all. To find out if an office or property management division is on track in terms of property managers and the size of the rent roll, I apply my handy 10-point capability audit to derive a ratio for that business. Before I apply it, I ask some questions to get an overall grasp of the structure within the department. Here are a handful of insights that should be considered for principals who want to drive economies
of scale, and for property managers who want to push back in terms of what their principals expect their management capabilities should be.
FOUNDATIONS As the word implies, the foundations of a division set it up for either optimum output or dismal results. The first question I ask is around the systems and procedures. Does everyone follow the same systems and is there consistency in the tasks and service provided at each touchpoint? WHO’S WHO IN THE ZOO? What staff members do you have in which roles and what are their true capabilities? To drive efficiencies, it’s super-important to first ensure everyone is working to their key strengths. I often perform an office audit and find out that some of the most capable and driven staff are given the most automated roles when they could be outperforming their counterparts.
30 ELITE PROPERTY MANAGER • APR – MAY 2018
ONGOING TRAINING How committed is the team and principal towards ongoing training and support? In a dynamic industry like real estate, I’m often perplexed at how little training and support is given to property management departments. The introduction of sophisticated new technologies alone is revolutionising the way property managers do business. This can not only affect the number of properties a property manager can handle; it can positively impact the bottom line. SHOW ME THE PROPERTIES A rent roll is more than just a number; efficiencies often depend on the calibre of the portfolio. For example, does your geographic footprint grace you with a large proportion of new executive homes in a master-planned community? Or are most of your properties just a series of old, dilapidated houses spread out within a 40km radius? Why does this matter? Well, let’s consider routine inspections as an example. Say you’re in the state of Queensland; you conduct quarterly inspections and your rent roll includes a master-planned community in which you manage 150 new units and homes. Imagine the time you’d save in clustering those inspections together. Now say you had the same amount of properties spread out geographically
MY 10-POINT CAPABILITY AUDIT WORKS ACROSS THESE MAIN CONSIDERATIONS What software or
How many routine
systems are used in the business? Are they adding real value? How well are they using it?
inspections do you do per year? What does the
What kind of support
portfolio look like? Are there multiple owners? What’s the geographical disbursement? How are inspections best scheduled?
system does reception provide to the team?
How many houses
What does an audit of
versus units are in the portfolio?
What does the internal
structure look like? Is it end-to-end property management or pod style?
each property manager’s tasks look like? Can you break it down to a bottom line report? What does it look like in terms of how much time certain tasks take? Time management
around tasks like entry and exit condition reporting and routine inspections: What is best practice? Is it all conducted on site or some in the office, too?
What is the breakdown
of the portfolio in terms of property age and property type? Once the above
has been finalised and analysed, I start to look at the tasks, the time and repetitive nature of the tasks, and the labour rate. I then arrive at an annual cost, divided by the amount of properties.
and of a poorer, older condition. You’re not only going to spend a lot of time driving between inspections, you’re going to spend a lot more time on repairs and maintenance requests too. This is a hugely important factor to consider when working out the property manager to property capacity. For example, doing only the big, basic, standard jobs involved with day-to-day property management, such as conducting routines, entry and exit reports, maintenance management and lease renewals, I find a property manager can manage between 150 and 200 properties in the portfolio. However, if you add to that things like administration, receipting rent, accounts processing, phone calls, emailing, travel time and leasing, it starts to cost $627.96 and 24+ hours to manage one property per annum (based on a salary of $50,000 and end-to-end management). This is not a magic figure and it really does fluctuate with each office. Just ask yourself: how dedicated are you towards ensuring best practice? There’s no point cutting corners to manage more only to find yourself highly stressed and doing only half the job. It not only puts yourself and your business at higher risk, it also leads to retention issues. But that’s a whole other story. ■
Content marketing is the new black •
One blog post might be all it takes to attract your next listing. If you are stuck for ideas or lack resources to get consistent in your digital marketing, hire a team that is always full of fresh ideas, and always on time.
TO FIND OUT HOW YOU CAN HAVE ELITE AGENT MAGAZINE’S AWARD-WINNING CREATIVE TEAM AS YOUR OWN, CONTACT MARK@ELITEAGENT.COM.AU
KASEY MCDONALD is Director of the Property Management Training Academy & Real Estate Training Group. For more information visit pmtacademy.com.au.
elitepm.com.au 31
CONNECTNOW SPONSORED FEATURE
MAKE YOUR MOVE
WHEN IT COMES TO SERVICE, it’s time to avoid the
obvious and think outside the square. Peak performance coach Rik Rushton discusses how partnering with services such as connectnow can take the stress out of moving day for your clients.
I
T’S THE END OF MOVING DAY AND THEY’RE EXHAUSTED.
Their backs are aching, their stomach rumbles with hunger and the only thing pounding harder than their sore feet is their throbbing heads. What they wouldn’t give for a hot shower, a glass of wine and an early night in with a movie. What if you, as your clients’ trusted real estate agent, could deliver just that? Forget giving vendors and buyers the staid coffee mug with your corporate logo, you have the power to make their lives a whole lot easier simply by extending your customer service long after the ink has dried on the contract.
BACK TO BASICS As real estate agents we are often caught in the trap of looking for the next big deal
and we forget to focus on what’s right in front of us. Human nature dictates that we seek out the new and exciting, while our job as agents encourages us to engage with the next batch of clients long before we’ve finished with existing ones. There’s a lot to be said for having such a persistent, unrelenting approach but it can also rob us
PROVIDING BETTER CUSTOMER SERVICE DOESN’T MEAN YOU HAVE TO BE SWEATING OVER YOUR DESK 15 HOURS A DAY.
32 ELITE PROPERTY MANAGER • APR – MAY 2018
of the focus we need to get the basics right. In every home we sell we have two customers to serve, the vendor and the purchaser. If we get it right that’s two opportunities to secure a referral down the track. The horrors that are moving day give you the opportunity to secure lifelong, happy clients that will return to you again and again and refer their family and friends. Often lamented as one of the most important but most stressful times in a person’s life, moving day offers you an opportunity to take your customer service to the next level. It’s at this critical time where one per cent effort can make 99 per cent of the difference. At this vital juncture we can be more than just real estate agents; we can be confidants, consultants and counsellors. Our job shouldn’t just be to help someone buy or sell their home – we should help them move into their home.
IS CHAMPAGNE REALLY ENOUGH? Everyone loves a bottle of bubbly, but is it really enough? When I’ve moved, a refreshing drink is really nice, but do you know what’s nicer?
as connectnow can be a great business to partner with as they take care of everything for you and your client. They connect: • Electricity • Gas • Water • Home phone • Internet • Pay TV • Car, truck and van hire • Insurance • Cleaning services Again, I can hear your brain ticking over and querying if you could rely on a third party to provide good customer service linked with your name. Is it a risk that’s worth taking? It is. You just need to make sure the partner you choose meets your requirements, so make sure they: • Are people focused. 92 per cent of people still want to deal with another person. An Australian call centre is a must. • Put experience first and aim to make moving simpler. • Connect more than just power. You need a one-stop solution. • Have making moving easier as their core business and not a side attraction.
Having a working fridge to chill it in and enjoying it sitting in front of the gas log fireplace. You can make this happen by continuing your customer service to moving day. You can: • Turn up on moving day and help cart the boxes inside • Connect the electricity so the fridge can be plugged in and the champagne chilled • Have the gas connected so the hot water is ready for showers to ease aching muscles • Connect the phone and internet • Arrange the pay TV. I can hear you thinking ‘great idea, but I don’t have time for that’ and ‘there’s no bang for your buck in doing that’, but I urge you to keep in mind that a happy customer equals more referrals, more listings and more success.
WORK SMARTER, NOT HARDER Providing better customer service, more of the time and for a longer period doesn’t mean you have to be sweating over your desk 15 hours a day. Service providers such
AT THIS VITAL JUNCTURE WE CAN BE MORE THAN JUST REAL ESTATE AGENTS. WE CAN BE CONFIDANTS, CONSULTANTS AND COUNSELLORS. Rik Rushton
In my experience, connectnow ticks all these boxes. The important thing to remember is to be diligent in choosing the right partner. A little hard work and research will be rewarded in the future.
PROCESS PRECEDES RESULTS Once you have selected your partner you need to cement the new process into your daily routine for each and every client. Once you have the parameters of how to introduce the moving day solutions into your client journey you’ll know that you’ve made an often stressful event a lot simpler and easier. Whether this results in referrals in the future, only time will tell; but I can’t imagine too many buyers and sellers would turn down a hot shower, a cold wine and their favourite TV show binge session in their new home. • RIK RUSHTON has been a peak performance coach, platform speaker, conference emcee and trusted advisor to many of the leading organisations throughout Australasia, as well as hosting, attending/speaking and being a student at every AREC since 1997. For more information on how to make moving easier for your tenants visit connectnow.com.au.
elitepm.com.au 33
FEATURE INTERVIEW
QUALITY OVER
QUANTITY NATALIE WENDELL is choosy
when it comes to landlords and properties. Instead of growing exponentially, her team is focused on quality managements and quality service – and they are not afraid of doing things differently, as she explains to Real+ coach Lauren Kirk.
W
hen looking at new business, there is the question of quality or quantity – which do you choose? Quality, always. We don’t take on poorquality people or property because that just slows us down; good people and good property are easier to manage, and it’s better for our people, our business and our customers to have less stress. The most we take on in a month would be 15. People love that we aren’t desperate for business. We choose the managements we want and refer anything outside our core area. We have PM businesses we know and trust in areas we don’t work in, so we know we are sending our landlords to a quality business.
34 ELITE PROPERTY MANAGER • APR – MAY 2018
Your growth plans are very clear and you even have a finish line nearing. Can you tell me more about this end point? In the beginning, we asked ourselves, “Why do we want to keep growing? Is it because we are expected to as a property management business, or because everyone else is?” We decided that we wanted to reach 725 properties and that would give us a profitable business. We found our profitability spot and we are working towards that goal. Our finish line has always been clear, but we know that when we reach that point we can always relook at this goal and move forward again. You have a unique approach in your market when it comes to helping your landlords. Our aim is about ‘improving the doors’ constantly: quality of landlords, tenants and properties. In the current market in NZ not as many people are buying investments (but some are), so we are helping our clients improve the value of their property through renovations and redecorating, rather than buying a new property. This, of course, increases rent and helps our bottom line. We have engagement from the team, client and business and we are building the wealth for all parties. Really, it’s about creating opportunities to call your clients that have a purpose. And then being able to have quality conversations with them, delivered by the right people in the team. We train on the delivery so that [they] know what they are selling to the client. But we know that some of the team just don’t have an interest, or the knowledge or skill, so we let them just do their job managing properties well. Your new client induction process is also distinctive. Can you tell me more about this? We call it a health check for our landlords. There’s a lot of hands-on from all the team at this stage. The New Business Manager assists with the paperwork; the owners know she is involved but not going to be managing the property ongoing. Of course, clear communication throughout is key. Part of this health check includes a call on the first day after the new statement is received by the landlord, to answer any questions. The tenant gets a call two or three days after moving in, as does the owner. We check in again after one month, to answer any of the admin
questions they have; and then after three months I call to touch base with them. We have a very clear follow-up plan that is just automated. Things just happen in our office, because the team know the importance of our client relationships. Retaining business is important for all business owners. What do you do differently? We induct well to retain well. Looking after our clients also helps us to retain staff.
"PEOPLE LOVE THAT WE AREN’T DESPERATE FOR BUSINESS." Firstly, we don’t split portfolios once they reach capacity. Usually, the PM works so hard to build the relationship with the client, and then when the complaints stop coming in the landlord gets moved to a new property manager and the Senior PM gets the difficult clients. It doesn’t seem fair, and we realised this wasn’t a reward for building quality relationships. Engagement from owners and tenants is also important. We create a community for all our clients. We send quality newsletters that include lots of stats, and provide ‘Welcome to the neighbourhood’ information. Compliance is new in NZ, so we ensure that all owners have clear guidelines for the new standards so the change isn’t scary for them.
We also offer a second opinion service, which is recommending other services that they will benefit from. As a principal I am involved in this, so they contact me directly. It keeps me aware of what questions they are asking, and what other value we can add. Engagement is about knowing what they are interested in and providing the help. So, ultimately, it’s about the long-term client relationship? So many businesses fail to grow because they neglect the existing client relationship (and then lose them). Ultimately, our aim is to have sticky clients so they refer and return. We reconnect always with our clients, including maintaining old landlord relationships. Because of this, if there is a problem, I know they will come to me first. Any final advice? Be OK with bucking the trend. We know we may be judged by the community when we stop growing, but we are clear on our end point and what we want to achieve. It’s OK to not always be about growth. ■
LAUREN KIRK is the General Manager of Real+, developing bespoke training programs for individuals and offices to boost performance and growth. For more information visit realplus.com.au.
elitepm.com.au 35
FEATURE INTERVIEW
ACTING ON EXPERIENCE KARMEN COSTIGAN’S JOURNEY INTO RAY WHITE CORPORATE has been an
interesting one. Having moved to Los Angeles in the late 1990s to pursue an acting dream, she earned a living as an onsite property manager. Today that is her full-time passion and profession, and sees her travelling all over Queensland, assisting Ray White agency owners and their staff to grow their businesses.
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ursing a Hollywood dream isn’t always as glamorous as it seems. Karmen Costigan explains how, after success as an actor in Melbourne, she and her partner took the opportunity to pursue the Hollywood dream. Roles as an extra in films like Being John Malkovich followed, along with a stint playing Mary Poppins for Disney. But in the late 1990s they “needed somewhere to live and were out of cash”. They landed a job as onsite managers in a less than desirable location. The first week they had to evict a tenant, deal with hoarders and handle a dog abandoned on the roof. During a rental inspection, a tenant enthusiastically showed them his gun collection. For a novice property manager, it was a baptism of fire.
“We did that for a while and graduated from the slums, moving up the property ladder. We looked after everything – leasing, maintenance and the upkeep of the building,” Karmen explains. Finally, they shifted to Venice Beach, where they handled just under 100 properties for the one landlord. It was a time when the beachside enclave was a less than luxurious place. As a battleground during the LA riots of the early 1990s, there were still bullet holes in some of the properties’ walls. “You got used to that,” Karmen says. They also got used to the regular sound of gunshots and police helicopters, but the experience offered some valuable lessons.
36 ELITE PROPERTY MANAGER • APR – MAY 2018
DURING A RENTAL INSPECTION, A TENANT ENTHUSIASTICALLY SHOWED OFF HIS GUN COLLECTION. “We learnt to offer the best customer experience we could. We understood it was incredibly important to build strong relationships by sorting out payment plans for rental arrears and by fixing all those little things, like leaking taps. “As managers living onsite, we were at the coalface, dealing with some very challenging situations.” After 9/11, the couple moved back to Australia. Karmen says that Los Angeles had changed in an era of terror, and they were keen to start a family. It was a period of adjustment. They had loved the tenacity of the US where people were open to big ideas, but back home tall poppy syndrome remained alive and well. “In Australia people tend not to want to stand out, but that’s exactly what you need to do.” Karmen took a job part-time in trust accounting. Her role involved working with businesses in receivership and handling their sale. “It was something I hadn’t imagined or considered as I’d failed accounting at uni,” she laughs. When the family relocated to Brisbane, she moved into trust accounting full-time, working with an agency. “But I realised after three years I’d reached a plateau.” Then opportunity knocked in the form of an opening at Ray White for a Business Development Executive in Queensland. Karmen has now been in that position for about three years and it draws on all her experience over a varied career. The position involves working with agency owners to build their business. It extends from face-to-face training for property and sales managers to identifying growth goals, and working with business development managers to gain new clients. Meanwhile, she also handles high-
Karmen was recognised for her insight and skill, receiving the Myf Porter Award for Learning and Development. “I love helping people realise their potential,” says Karmen.
level complaints that can’t be resolved at a local level. The training element draws on her university degree as a teacher, property management sees her use her time in LA, while business development calls on her experience as an actor, and her role in trust accounting. Together it affords her a host of wisdom to offer the Ray White brand. “As an actor in LA, every audition drew up to 100 people for a part. It requires you to be your best and stand out. I often challenge BDMs when they talk about tough competition: being up against one or two other offices isn’t that tough. You need to be your best. So how are you going to impress people by being the absolute expert in your field?”
“EVERY EXPERIENCE IS VALUABLE, PARTICULARLY IF IT’S NEGATIVE.” Meanwhile, she notes that ongoing training was a huge part of her US acting career, and she maintains that ethos in her role at Ray White. “In LA actors train all the time. At Ray White we’re also really strong on training and ensuring people’s skills are up to date. “In property management there are roles that won’t be available in the future. If you’re a property manager working in a team of six today, in five years’ time
only two may be required. Will you be a casualty or one of those two people? You need to upskill. You need to be an expert.” And, she stresses, anything you learn is a positive. “Every experience is valuable, particularly if it’s negative. I really look at situations and pull them apart, analysing and asking ‘where did I go wrong?’ or ‘did I miss something?’. The truth often lies somewhere in between. If you’re honest, you can grow your skill level.” It’s a philosophy that serves her particularly well in complaint resolution and property management. “Going to court does not have to be part of being a property manager. It should be the absolute exception.” Just back from a couple of days in Townsville and preparing to head to the Gold Coast, Karmen says her current role allows her to be creative, while assisting Ray White staff and owners. It’s a job she clearly enjoys and obviously excels at. In 2017, Karmen was recognised by Ray White for her insight and skill, receiving the Myf Porter Award for Learning and Development. “I love helping people realise their potential,” she explains. “It’s a really exciting role. It’s about taking people and business to the next level and looking outside the box. Ray White is an amazing company to work for. “I never expected to be in this role, just never. It proves you have to be open to what comes your way.” ■ CASSANDRA CHARLESWORTH
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FEATURE INTERVIEW
Greg and Rhonda Taylor at the First National General Excellence Marketing Awards (GEM Awards) in February receiving the two Property Management awards for NSW
KEEPING IT IN THE FAMILY WITH A HISTORY DATING back almost 60 years,
Stanton & Taylor First National has been recognised nationally for both sales and property management – and has enjoyed three generations of Taylors at the helm.
F
eaturing a team who have been recognised statewide and nationally for both sales and property management, it boasts a rent roll fast approaching 2,000 properties. Most recently, Stanton & Taylor took out the
title of Property Management Department of the Year at the NSW First National awards. Along the way, Stanton & Taylor has witnessed massive change in both the industry and the Penrith region; but, according to principal Greg Taylor, the
38 ELITE PROPERTY MANAGER • APR – MAY 2018
success of his business continues to be about putting the customer first. It was 1960 when Greg’s father John partnered with Alec Stanton to establish Stanton & Taylor, and with real estate in his blood Greg always knew he wanted to be in the game. “I was that kid at careers expos who knew exactly what I wanted to do; I wanted to work in the real estate business.” But when Greg finished school his father had other advice. “No one wants to buy off an 18-year-old who doesn’t know the industry. Go and do your own thing first.” An accounting degree and eight years as an audit specialist with PwC followed before Greg came back to the family business “wiser and more believable”. He joined the family business in 1983, a year after Stanton & Taylor had become Foundation Members of the newly launched First National brand. When John retired in 1997 Greg and his sister took the helm, with Greg looking after sales while his sister focused on property management. They continued to build the business, purchasing rent rolls and also growing organically to three times the size it was back in the late 1990s. Along the way they established the most
The team of Stanton & Taylor First National
experienced sales team in the area, with industry recognition of its skill. In 2015 and 2016, Stanton & Taylor First National took out the Small Sales Team category at both the state and national First National awards. Greg puts the business’ success down to its local knowledge, service and the unwavering belief that ‘the customer is always right’. In property management, that ethos extends to ensuring the homeowner always feels at ease. “We manage to give our owners a high degree of comfort knowing we are always available and capable,” he says. “Every landlord has at least two property managers they can contact who are aware of what’s happening with their property. We also have a high level of expertise available on staff, with an in-house lawyer and chartered accountant. “This allows our customers to ‘set and forget’ their property in the knowledge there’s no problem we can’t deal with for them. It takes the worry out of investment.” Part of that expertise is provided by a third generation of the Taylor family, with Greg’s son Michael the in-house lawyer and his daughter Amanda looking after marketing. And yes, when the time came for them to choose a career, Greg encouraged them
"OUR CUSTOMERS CAN ‘SET AND FORGET’ THEIR PROPERTY, KNOWING THERE’S NO PROBLEM WE CAN’T HANDLE."
to forge their own path first. Michael spent 10 years working in city law firms, while Amanda was a magazine editor. Greg is thrilled they’ve enjoyed their own success and now choose to share it with the family business. Meanwhile, Greg’s 35 years of real estate expertise is widely shared with First National and the greater Penrith community. He is currently Chairman of
First National NSW State Council, is one of six national board directors and is a project member for Heading Home Penrith. Yet his focus remains firmly on the continued growth of Stanton & Taylor. The business recently established a digital office for Glenmore Park and is enjoying the coming of age of the greater Penrith region. “Penrith, Campbelltown and Liverpool are now a lot more accessible to the city for people looking to live away but work in Sydney. The region is affordable and more attractive for people who want to own or rent.” Stanton & Taylor First National Penrith is now in contention to win the national award for property management, with the results to be announced later in the year. ■ CASSANDRA CHARLESWORTH Left to right: Michael Taylor, Greg Taylor and Amanda Nicholls
"NO ONE WANTS TO BUY OFF AN 18-YEAR-OLD WHO DOESN’T KNOW THE INDUSTRY."
elitepm.com.au 39
EBM SPONSORED FEATURE
MVP: WHY AN INSURANCE BROKER CAN BE A GREAT ASSET TO YOUR BUSINESS SHARON FOX-SLATER OF EBM’S RENTCOVER believes
that real estate businesses should protect their livelihoods and reputations by partnering with an insurance broker who knows the industry.
Y
ou 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. When you work with a broker who has experience in helping businesses throughout the spectrum of the industry – from individual agents selling residential property to commercial property specialists, from PMs with small to extensive rent rolls to multinational franchises – you can tap into their expertise, in-depth industry knowledge and, importantly, their insurance networks. That way you get the right policies – and competitively priced too. You might even find that your broker can offer you policies with negotiated wording and pricing that you wouldn’t be able to obtain on a one-off basis. Most real estate professionals are aware of the mandatory insurances needed as part of their licences. Public Liability, Professional Indemnity or Workers’
Compensation insurances, for example, are usually compulsory. Principals and business owners often don’t think twice about taking out Professional Indemnity insurance, as well as insurance to cover their office, equipment and liability. But there are some logical risks that are often ignored, such as business interruption. A tip for agents who operate from a home office: make sure you check your home and contents cover, as you might find that the policy is void if you operate a business from the premises. A specialist broker will delve deeper into your business operations to truly understand the unique risks your business faces and then suggest ways to mitigate those risks. Being adequately covered by taking out the basic policies you think you need does not necessarily equate to really protecting your business. A broker’s experience in working with the industry translates as a real
IN TRUE MURPHY’S LAW STYLE, YOU’LL NEED TO MAKE A CLAIM AT PRECISELY THE WORST POSSIBLE TIME.
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understanding of how real estate businesses operate. That means the broker knows the risks common to these businesses across the spectrum. Individual agents (sales and property managers) and SMEs commonly need: l Professional Indemnity (the best are tailored, industry-specific policies) l Public Liability/Broadform Liability* l Property* (building and contents) or Business/Office l Equipment* l General Property* (for portable devices) l Business Interruption* l Motor Vehicle l Travel (domestic and international) l Cyber Liability Larger businesses – corporations, listed companies – or specialist operators such as management rights may also require: l Director’s & Officers’ (D&O) l Commercial Legal Expenses l Management Rights l Trade Credit l Accounts Receivable
l Fidelity Guarantee (theft by employees) l Strata Building l Umbrella Liability l Statutory Liability l Employment Practices Liability l Trustees Liability l Audit & Investigation l Loss of Money l Loss of Fee Income
A full risk assessment by your broker may reveal lesser-known risks that need to be addressed. For example, did you know that Remotely Piloted Aircraft Systems (RPAS) cover is available for agents and their contractors who operate drones? Or that you may need Worker’s Compensation insurance if you employ someone to deliver your flyers to letterboxes? It’s not just business coverage that your broker can arrange. If you use a brokerage that employs financial planners, you can also arrange personal covers like income protection or life insurance. Armed with all the information they need, your broker can negotiate the best possible terms and conditions – as well as premiums – for the risks you choose to transfer to an insurer. Of course, another advantage in working
with an insurance broker is that they not only take care of all the paperwork – putting policies in place, renewals and so on – but they also step into the fray at claims time. In true Murphy’s Law style, you’ll need to make a claim at precisely the worst possible time; you are on the only holiday you’ll get all year, you are attending an interstate or international conference, you have more showings to attend than a fashionista during fashion week, the office is short-staffed, you have a slew of inspections to carry out and maintenance to organise… Your broker, who is on your side, will manage the claims process for you so you can get on with everything you need to do to keep your business running. The role of an insurance broker is not just to sell you insurance policies, suggesting you take out every conceivable cover without knowing the risks you face and the potential consequences for your business. Their role is to partner with you to truly understand your business and the real risks you face on a day-to-day basis in an ever-changing industry and world. When you work with one account manager or client relationship executive
SOME LOGICAL RISKS ARE OFTEN IGNORED, SUCH AS BUSINESS INTERRUPTION. supported by a great in-house team, including legal counsel who can guide policyholders through complex claims and review the insurance aspects of contracts, tenders and leases, your broker really does become a natural extension of your management team. If you partner with the right insurance broker you can trust that they know what you need to know about insurance – so you don’t expose your business, your reputation and your livelihood to unnecessary risks. ■ *EBM’s OfficeCover is designed exclusively for real estate professionals and provides cover for these and more.
SHARON FOX-SLATER is the Managing Director of EBM’s RentCover. For more information, visit rentcover.com.au.
BUSINESS IS HARD. DON’T DO IT ALONE. [ that’s where we come in ]
ACCOUNTING | TAX | LEGAL | BROKING | COACHING | BOOKKEEPING SUPERANNUATION | STRATEGY | ESTATE PLANNING | SUCCESSION [07] 3193 3000
info@businessdepot.com.au
businessdepot.com.au/realestate elitepm.com.au 41
PERSONAL DEVELOPMENT
The Best of
INTENTIONS WHENEVER WE SET OURSELVES NEW GOALS, both professionally and personally, we
tend to focus on the end result – and in many cases our good intentions slip. But Ush Dhanak demonstrates how developing greater self-awareness in three key areas can help us achieve what we set out to do.
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ow can you maintain the best of intentions you have whenever you set new goals for yourself or your agency? By working on aspects of your emotional intelligence (EQ), it becomes easier to stay on track. Not only will you develop more understanding of the importance of what you committed to, it will help you develop the inner self-confidence that you can achieve all that you set out to do.
By developing more EQ, you also develop closer relationships and become a role model for those around you. But intentions made from a frail or weak emotional foundation will nearly always fail. They often appear to others like mere wishes rather than commitments. Start working on the following three areas of EQ to build a solid foundation and a rudder for future direction. This will guide you in the commitments you make, both in business and in your personal life.
42 ELITE PROPERTY MANAGER • APR – MAY 2018
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LEARN WHAT YOU’RE CAPABLE OF BY RAISING SELF-AWARENESS By working on your self-awareness, you become more conscious of your own feelings and how they affect your behaviour. You are better able to control emotions and regulate their effect on you; you grow your personal power to know what you’re really capable of, and you have greater understanding of your strengths and limitations. It’s easy to see how developing self-
may help you improve understanding of your thoughts and feelings lS eeking feedback – ask trusted friends or colleagues for feedback about how they see you react in given situations
2
awareness might help you stay on track and achieve the goals you set. By understanding how you react in certain situations, you are more prepared for anything that life throws at you. There are fewer ‘surprises’ and you can plan ahead with more confidence knowing that, if difficulties arise, you are a purposeful human being with the power to overcome them. Self-awareness helps you with emotional balance and helps you stay stress-free, even in pressure situations. Work on your self-awareness and selfassessment by: lL abelling emotions – naming emotions reduces their intensity and limits potentially negative outcomes lL earning basic meditation – mindfulness techniques can help you relax, be more comfortable with your emotions, and make fewer rash judgments lC onnecting emotions with specific events – making you less likely to act rashly lS elf-reflection – make time daily to reflect on what’s important in your life lW riting things down – keeping a journal
STAY SELF-DISCIPLINED WITH BETTER SELF-MANAGEMENT Ever heard the phrase, ‘He’s his own worst enemy’? The best-laid plans are often derailed, not because of external factors beyond our control – but because we sabotage them ourselves. It’s easy to allow your emotions to get the better of you. We may think we are in control, but emotions have a habit of hijacking our plans, causing disruptive results and sending us off track. If you master self-management, you display more self-control and are better able to keep disruptive emotions and impulses in check. You think positively, maintain high standards of honesty and live your values; you are open to change, innovation and new approaches. You are proactive, resilient, intentional and look to achieve higher standards all the time. Can you see how this could help keep you on track with your goals? Work on your self-management by: lS tarting with self-awareness – this will give you the foundation you need to exert more control over your emotions and behaviour lR ecognising the tell-tale physical signs of emotional ‘hijack’ –what happens when you are about to react emotionally? lT aking a deep breath – when you feel a stress response, take a breather. lD elay decisions – next time you recognise emotions taking over, delay your reaction and any decisions you need to make lA cknowledge your values and ambitions – write down your beliefs, goals and desires lP ractise not taking the easy option – unless it’s in line with your values and goals lP ractise saying ‘no’ –it’s important to be able to say ‘no’ sometimes if you want to say ‘yes’ to your goals!
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HARNESS THE POWER OF RELATIONSHIPS BY IMPROVING YOUR SOCIAL AWARENESS AND MANAGEMENT Your goals may be personal ones, but you never act as an island. Your thoughts, feelings and actions affect others in both your personal and professional lives. Most people will identify their best times in life as time spent with those closest to
them: essentially we are social beings, though we all show this in different ways. This means that, while the foundation of emotional intelligence is self-awareness, there is an important social element to it too. By recognising and harnessing the power of our relationships, we get the ‘buy-in’ of others; we become more social, accepting of others and adaptable. We can use the collective power to help us stay on track with what we hope to achieve. Work on your social awareness by: lP ractising listening – we have two ears and one mouth; by starting to use our ears more and mouth less, we tap into others’ thoughts and feelings lW orking on communication skills – are you understanding messages from others and communicating your own needs clearly enough?
YOUR GOALS MAY BE PERSONAL ONES, BUT YOU NEVER ACT AS AN ISLAND. lD eveloping more empathy – emotional
self-awareness helps you recognise similar emotions in others. Empathising with others will make them feel more at ease, helping you build rapport and develop closer relationships lT hinking about the needs of others – rather than being wrapped up in our own selves, we need to practise anticipating and recognising the needs of others lR esolving conflicts and disputes – don’t let problems fester; work to negotiate and resolve disputes before they snowball lS etting collaborative goals – if your goals include others, you are more likely to help each other stick to them. By working on these three key elements of emotional intelligence, you may be able to resurrect intentions and commitments that you thought were dead in the water. Then you have a blueprint for success for the rest of your life. •
After starting her career as a lawyer in the UK, Ush turned to human resources because of her love of working and interacting with people. She now provides social and emotional intelligence training and coaching to individuals and teams. For more information visit ushdhanak.com.
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PROPERTYTREE SPONSORED FEATURE
READY. SET. C THE TEAM AT ROCKEND ARE ON A MISSION to help their
customers grow their property management businesses – and with the release of PropertyTree’s new utilities integration, they’re paving the way for property managers to do just that.
C
ustomer research carried out by Rockend revealed that agency owners are keenly focused on finding new ways to grow their business,” Product Owner of the utilities integration, Riasat Azim, says. “Yes, they want to grow their business in monetary terms – but it’s more than that. They also want to differentiate themselves from their competitors by providing an exceptional level of service and adding value to their interactions with their clients. But how can they do this without it being a drain on resources or an additional cost to the business?” PropertyTree’s utilities integration with Movinghub is an exciting new way for property managers to add value to the service they offer tenants. “Moving is a stressful time for tenants. After weeks searching for a new property, they then spend hours upon hours packing, moving and then unpacking. Having to organise all their connections on top of this can be a real headache,” Azim says. “Once upon a time, it was simply a case of sorting out your telephone, water and electricity. But now there’s also pay TV, internet and more to deal with. And that’s to say nothing of the fact that the number of suppliers for each of these has ballooned. It’s time-consuming and many tenants find it difficult to even know where to start.”
PropertyTree’s integration with Movinghub takes both the stress and guesswork out of moving for tenants by brokering the best deals and ensuring everything is connected by the time they move in. “The best part is that the integration enables property managers to provide a next level of service to their clients, add value to the relationship and differentiate themselves from their competitors,” Azim says. “And in doing so, they’re growing their business.”
The good news is that access to the utilities integration comes at absolutely no cost to PropertyTree users. In fact, agencies using the integration benefit from the additional revenue stream it provides.
MOVING AHEAD WITH MOVINGHUB “Movinghub shares the same values as Rockend and they’re committed to providing an outstanding service to property managers and their tenants,” Azim says. “They’re technologically advanced, with a robust end-to-end
THE BEST PART IS THE INTEGRATION ENABLES PROPERTY MANAGERS TO PROVIDE A NEXT LEVEL OF SERVICE TO THEIR CLIENTS, ADD VALUE TO THE RELATIONSHIP AND DIFFERENTIATE THEMSELVES FROM THEIR COMPETITORS.
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BENEFITS FOR YOUR AGENCY
CONNECT. solution that allowed us to seamlessly integrate with them and create a positive user experience for our customers.” Azim also points to the comprehensive range of utilities providers that Movinghub is able to connect tenants with. Far from offering a limited range of options with preferred suppliers, Movinghub is committed to providing tenants with choice. They also understand how important the service experience is. “If, for whatever reason, a particular provider isn’t meeting expected service standards – for example, by consistently
the unlimited potential this offers. We’re building the PropertyTree ecosystem to deliver features and functionality that make the lives of our customers easier, add value to their service offering and help grow their business. “Utilities integration was our next step in doing this.”
START BENEFITING TODAY PropertyTree’s integration with Movinghub is now live and activating this new functionality couldn’t be easier. “The set-up process is easy,” Azim
MOVINGHUB SHARES THE SAME VALUES AS ROCKEND AND THEY’RE COMMITTED TO PROVIDING AN OUTSTANDING SERVICE TO PROPERTY MANAGERS AND THEIR TENANTS. not having connections in place by the time tenants move in – they can be removed as an option. “This points to Movinghub’s commitment to ensuring property managers are able to provide the best level of service to their clients. “Movinghub is undoubtedly ‘best in class’ when it comes to utilities connections.”
LEVERAGING THE VALUE OF INTEGRATIONS For every task you do each day in your property management business, you can find a piece of technology that will make the ‘doing’ easier. But, because technology innovation is moving ahead at a mindboggling rate, it’s impossible for a single supplier to provide an end-to-end solution for every need their customers have. That’s why integration is so critical. “We understand that our customers use a wide range of systems and service providers in their business every day,” Azim says. “PropertyTree is the platform that allows for the seamless integration of those systems to streamline processes, increase efficiency and save time. “PropertyTree has been developed with a philosophy of integration at its core and our customers are the beneficiaries of
explains. “It only takes a couple of minutes and, best of all, you don’t need to log in to a different system or remember a new username and password. Everything you need to leverage the Movinghub integration is within PropertyTree, providing you with a seamless and easy experience.” ■
Developed by Rockend, PropertyTree is Australia and New Zealand’s first cloudbased property management solution. For more information, visit propertytree. com or join the conversation at facebook.com/propertytreetechnology.
→ Integrate quickly and seamlessly. With just a few clicks, you’ll be up and running – ready to start helping your tenants benefit from Movinghub. →A void additional data entry. Re-entering tenant details and filling in paper forms is a thing of the past, because data is prepopulated from PropertyTree via the utilities integration. →E arn an additional revenue stream. Earning a commission each time a connection is made adds to your agency’s bottom line. →P rovide additional value. Movinghub will provide your tenants with the full range of service providers in their area and access to competitive deals. → I mprove the service experience. Facilitating utilities connections takes the stress out of the moving experience for your tenants and allows you to provide a higher level of service.
BENEFITS FOR YOUR TENANTS →S ave time. Movinghub does all the hard work by identifying available providers, finding the best deals and making sure all connections are active by the tenant’s move-in date. →C omprehensive range of services. More than just facilitating utilities’ connections, Movinghub can help tenants with everything from packing and cleaning to removals, storage and general maintenance. →A dvice from a ‘movologist’. Movinghub assigns a dedicated ‘movologist’ to each tenant to discuss all available options and ensure the highest standard of service. →A ccess a full range of service providers. Movinghub is committed to providing tenants with the widest range of choices. →N o cost. The service is free to tenants.
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PM Q&A Connie Mantello went into business with her husband to support his dream of running his own real estate agency. Now an expert senior property manager, business owner, working mum and part-time student, Connie finds she can cope with most things – as long as she has her smartphone. Tell us a bit about yourself and your role at Mantello Real Estate. My husband and I started Mantello Real Estate seven years ago, with years of experience which guided how we wanted to run a real estate firm. The motto we began with when we started, and still holds true today, is trust, communication and oldfashioned service. My role in the business includes senior property management duties, including new business management, accounts and arrears management as well as assisting both my leasing administrator and junior administrator with their roles daily. I also assist Jason in sales administration, new listings and of course business management… so, as with most small businesses, it’s a bit of everything to get the job done! What motivated you to get into real estate and property management? To start with, it was my desire to help my husband achieve his goal of running his own real estate agency. However, under the guidance of his extensive knowledge base and living it day in and day out, I have learned to love the art of property management.
Connie Mantello
Multi-tasking in Melbourne No two days are the same and, if you let it, it will consistently educate you and provide you with new and exciting paths. Property management has led me into the field of law and I am currently studying a Bachelor of Law part time; one day I hope to make a change to the current rules and regulations that bind landlords and tenants. What do you like most about running a family business? Freedom. Although it has taken many years of sacrifice, I wouldn’t have it any other way. Running our own agency has allowed me to raise a beautiful son and manage work and life on our terms. How does this fit into your work/life balance? Being a busy working mum and studying, as well as contributing to the community through a local calisthenics program, I’m always on the go. A typical night at home
work on the basic rules of real estate; prospecting learned many, many years ago which has allowed us to sail through tougher markets and really maximise the stronger market conditions. We are also ensuring that our staff are learning along with us. To keep the grounding throughout our family business we ensure that our staff live by the same morals we do. What is the market like in your area? We predominantly work in the west of Melbourne; however, we service most suburbs of Melbourne – especially with property management. We have had a major shift in the last six to eight months that has seen a lot of investors move into the area. This has helped keep growth consistent and we see no
"WE WORK ON THE BASIC RULE OF REAL ESTATE WHICH IS PROSPECTING; LEARNED MANY, MANY YEARS AGO." might be answering that email whilst balancing baby on hip and boiling the pasta, still in the heels I’ve worn for the last 12 hours! For our business to succeed, though, you need to understand sacrifice and compromise, as well as knowing that we are striving to achieve our personal goals. What are you working on at the moment? Growing our business. We
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signs of it slowing down. As they say, invest in the west! Who or what inspires you? Two people for two very different reasons. My father is the epitome of success. I watched as a little girl growing up the sacrifices he made for us and he formulated the grounding that shaped the woman I am today. And my husband just beams positivity, no matter what life
throws at him. He sees the good in all and has a drive that cannot be taught, something that is in him that makes him like no other. He is my rock and together we are a great team, both personally and professionally. Something or someone you couldn’t live without? My phone and my family. I can run my entire life from my Samsung, and literally feel naked without it. I once busted the LCD screen. I took it to the Samsung store and the lady said, “OK, we’ll have to take your phone for a few days to diagnose it”. If looks could kill... doesn’t she know I’m a real estate agent?! Well, that just wasn’t acceptable so I took a detour to the Optus store and bam, walked out with new phone in hand and all data transferred all in under one hour. My family – that’s pretty selfexplanatory. They are always there for me, on the good days and the bad. What apps do you use most on your smartphone? If you were to look at my phone it would suggest YouTube uses most of my data, but in fact my son regularly takes my phone hostage. Running a close second would be the social media apps, including Instagram and Facebook. I’d say that is expected, but when you lead such a fast-paced life, anything that doesn’t require brain power I’ll jump at in my spare time. Your life motto? Be decisive. Right or wrong, make a decision. The road of life is paved with flat possums who couldn’t make a decision. What are your goals for the future? I don’t believe in setting goals too far in the future. I have daily goals, in business and in life, to keep my motivation and energy at its highest. I work head down, bum up, and try not to let daily distractions deter me from achieving my
"BE DECISIVE. THE ROAD OF LIFE IS PAVED WITH FLAT POSSUMS WHO COULDN’T MAKE A DECISION." immediate goals. What’s your advice for those new to the industry? This industry is not for everyone. On the face of it it’s like an episode of Suits; beautiful people, oozing
confidence, driving the latest Benz or BMW in the most stunning corporate wear. However, what most people don’t see are the many unpaid hours spent negotiating, late-night appointments and copious amounts of takeaway
that get you from one successful listing to the next. Look up to your mentors and follow as much as you can. Listen to the way they speak on the phone and take notice of the reason they do what they do, and don’t ever be afraid to ask ‘why’. You never stop learning and the minute you think you know everything, it’s time to get out. ■ SHANTELLE ISAAKS
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Q&A ASK THE COACHES Ready to help in 2018 with no question too big or too small are our three expert property management coaches from Real+, Lauren Kirk, Kate Benjamin and Heidi Walkinshaw.
Q.
Our team meetings have become boring and unproductive. What can we do differently? So often we can walk away from a meeting feeling like we haven’t achieved anything at all. When the same people meet, week in, week out, to discuss the same matters with the same structure, the meeting can easily become boring, uninspiring and unproductive. Then add to the mix the same voices rising over the others and the same people who say nothing at all. It’s no wonder we can be unenthusiastic about weekly team meetings There are some quick changes that you can make so your team really do want to attend your next team meeting and, more importantly, it becomes effective and productive. Firstly, have a clear purpose and create an agenda, including action items to ensure things actually get done. This agenda will also allow you to stick to the allocated time frame. Take minutes and share these with the team to create some accountability. It’s important to encourage input, ideas and questions from all team members, remembering this should be a safe place to celebrate wins and learn from challenges. Perhaps it’s a quick update on their role, activity or results. You could also have a different team member chair the meeting each week. Sick of sitting around the boardroom table? Hold the
meeting in a different location every now and then. Maybe your local coffee shop is the perfect place to hold a meeting once a month. And finally, a quick meeting is a good meeting. It’s about the outcomes, not the time spent. - Lauren Kirk, General Manager, Coach, Consultant and Trainer
Q.
My principal wants me to begin prospecting our sales open home attendees. What should I say to them? When it comes to leveraging your sales team, direct referrals from salespeople will only get us so far. Your principal is 100 per cent correct that having the BDM contact all open home attendees, not just those directly referred by sales, is a sure-fire way to increase the number of leads generated. When it comes to working with prospective purchasers, the easiest way to start up the conversation is to offer them the pre-prepared rental
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appraisal for the property. Consider this dialogue: “Hi (insert potential investor name here), it’s Kate calling from Real+ Real Estate. This is a very brief courtesy call to see if you require the rent return information for the property you inspected with Matt from our office on Saturday?” From here we can quickly establish whether they are an investor or owner occupier and take the opportunity to open the conversation into any current investments they may have or be looking to purchase in the future. Once we have identified any potential lead, time to either get them into our investor database or thank them for their time and move onto the next call. Short and sweet does the trick! - Kate Benjamin, Coach, Consultant and Trainer
Q.
I can never seem to find enough hours in my day and my workload just seems to be increasing with the demands of my clients.
How do I find more time? One of the first things to remember is that we all have the same number of hours in the day. It’s what we plan for and set about to accomplish that can make the difference in how much we get done. A great activity to begin with is to carry out a time log. This can be done in an Excel, or there are some great apps out there now that can help bring awareness into what is disappearing into that time black hole. Once you have figured out where that time is going, you can identify what is draining the most of your hours and put a plan in place to remove any potential roadblocks. Some things you can try is to have non-negotiable planning time first thing in the morning to map your day and then again in the afternoon to check off your to-do list. You might also like to try some blockout time to get on top of the backlog of work. Prioritise your work so that you are dealing with the toughest tasks first and getting those frogs out of the way for the day, to reduce your stress levels. Above all, if you are feeling those walls closing in, take a few minutes to step away from your desk. Go for a walk, get some fresh air, grab a coffee and reset so that you can stay on top and in control. - Heidi Walkinshaw, Coach, Consultant and Trainer
To have your question answered email askthecoach@eliteagent. com.au.
MY REAL ESTATE TRAINING
Relevant and ready when you are. ALL COURSES REFRESHED FOR 2018! ELITE AGENT is now delivering online short courses for real estate professionals in partnership with MRT (RTO 41529), including CPD courses for NSW Agents.
Standard online courses from $89 including assessment, certificate and e-badge (for your LinkedIn profile)
Study on your desktop, or tablet; learn on the go!
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