Elite Property Manager Issue 18 Aug-Sep 2018 FULL

WHY EQ TRIUMPHS OVER IQ

FINGER ON THE PULSE THE SELF-TAUGHT

LEADER HOW TO HANDLE

NEGATIVE REVIEWS

TRUE

NORTH MICHAEL LOVE

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Contents Regulars 006 READER PROFILE Brad McHugh 008 WATERCOOLER Catch up on what you may have missed

16

016 BD MASTERY Tara Bradbury 018 PM MENTOR Natalie Hastings 020 GAME CHANGER Jo-Anne Oliveri 022 REALTY BYTES Alister Maple-Brown 048 ASK THE COACHES Lauren Kirk, Heidi Walkinshaw, Kate Benjamin

First Person 010 STRANGER DANGER Fiona Blayney 012 HOW TO HANDLE A NEGATIVE REVIEW Debbie Palmer

Cover Story 024 TRUE NORTH Michael Love, Love & Co

24

Features 028 METH CONTAMINATION: FACT FROM FICTION Sharon Fox-Slater 030 THE CUSTOMER SERVICE QUEEN Danelle Hunter 032 DELIBERATELY DIFFERENT Adam Freitas 034 TRIBE OF EXPERTS Emma Slape, Ashley Fell, Ben Foster and Bradley Fraser 038 THE SELF-TAUGHT LEADER Kylie Maxwell 040 PROPERTY MANAGERS LOVE PROBLEMS Sam Nokes 042 EWAN MORTON: THERE ARE NO SECRETS TO SUCCESS Catherine Vissiere 044 OVERCOMING WAGE WOES IN THE MODERN AGENCY Mark Engelmann

32 2 ELITE PROPERTY MANAGER • SEPTEMBER 2018

046 9 SIGNS YOU MAY BE MORE CUT OUT FOR LEADERSHIP THAN YOU THINK Ush Dhanak

REACH YOUR TRUE POTENTIAL

AS YO UR EXPER T COAC H

Coaching sessions available...

PROPERTY MANAGEMENT

NEW BUSINESS

TRUST ACCOUNTING

TECHNOLOGY

LEADERSHIP & lots more

LEASING

DISCOUNTS FOR REAL+ MEMBERS 02 8355 4999

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team@realplus.com.au

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USH DHANAK

SENIOR ASSOCIATE, TRAINER AND COACH, PEOPLE BUILDERS Where are you from originally and where do you call home now?

I’m originally from London and now live in Sydney. I’ve been here for 13 years now, so the pom accent is slowly but surely fading.

28 SHARON FOX-SLATER

MANAGING DIRECTOR, RENTCOVER, EBM

Where are you from originally and where do you call home now?

I was born in Croyde, Devon, UK; I grew up in Perth and home is now Melbourne.

I’ve been here for 20 years.

Who or what inspires you at the moment?

Watching my team develop and succeed – they’re really quite amazing.

We’re all very passionate about insurance and we enjoy educating our clients and partners about why it’s so important.

What’s the most important project you’re working on right now?

I’m working on a number of projects that will enable us to provide better educational services to our clients and partners.

Trend to watch in the industry?

I’m reluctant to say meth labs – but there’s still little public awareness about the seriousness of the situation. Plus pets in rental properties; it’s going to be very interesting to watch how this plays out in the marketplace.

Favourite quote or words to live by?

‘There are no problems, only challenges.’ It’s our challenges and obstacles that give us layers of depth and make us interesting.

Who inspires you at the moment?

Elon Musk, as he’s one of the most emotionally intelligent leaders I’ve come across. It’s effortless for him to show his EQ and he remains humble.

What’s the most important project you’re working on right now?

I’m working on some coaching packages for emotional intelligence, so I can help the everyday hero become a better leader.

Trend to watch in the industry?

I’m intrigued by the microchip (size of a grain) that can be embedded into your hand. I’m also curious to see how artificial intelligence will impact on emotional intelligence. I’m convinced that high EQ

46 will be a required element in sourcing talent.

Favourite quote or words to live by?

Mahatma Gandhi – “I will not let anyone walk through my mind with their dirty feet”. I love how this reminds me not to let the thoughts and opinions of others affect me negatively. It reminds me to keep my resilience up.

CONTRIBUTORS KATE BENJAMIN

COACH, CONSULTANT AND TRAINER, REAL+ Where are you from originally and where do you call home now?

I grew up in a small place called Freemans Reach in the Hawkesbury region, about an hour from Sydney. Home is now the Hills District, about 30 minutes from Sydney.

What is inspiring you at the moment?

I’m loving being part of PM Transform 2018! Being a coach has allowed me to see some of the ways participants are working on themselves, both personally and professionally. It’s inspired me to spend more time working on myself, as well as coaching others to success.

What’s the most important project you’re working on right now?

Preparing my session for ARPM 2018 in the Business Development stream and launching the new Real+ New Business Group coaching program…. and my own health and fitness!

4 ELITE PROPERTY MANAGER • SEPTEMBER 2018

48 Trend to watch in the industry?

When it comes to new business in PM, I think we’ll continue to see that getting the foundations right is more important than any one piece of tech, trend or phase.

Setting goals, working with intent and having more quality conversations with more people.

Favourite quote or words to live by?

‘Enjoy the little things in life, because one day you’ll look back and realise those were the big things.’

44 MARK ENGELMANN

CHIEF OF CONTENT, BEEPO

Where are you from originally and where do you call home now?

I went to school and university and completed much of my working life to date in Brisbane. A few years ago we made a sea change and moved to Casuarina, Northern NSW. Who or what inspires you at the moment?

I'm a strong advocate of Mark Manson's book, The Subtle Art Of Not Giving A F*ck. So I do what I want when I want. My schedule can look pretty random: one minute I'll be at my computer writing, the next I'll be on my rowing machine smashing out 10ks – and that could be at 11am on Monday morning!

What’s the most important project you’re working on right now?

As Chief of Content at Beepo, I'm developing practical content for real estate and mortgage brokers on how to integrate a Philippines-based outsourced team into their businesses with great results.

Trend to watch in the industry?

We've only seen the start of digital content marketing; it’s going to get bigger and bigger. Everyone needs to be doing this!

Favourite quote or words to live by?

I have two: ‘Help, not hype’, and ‘Healthy body, healthy mind’.

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READER PROFILE

SYSTEMS AND GROWTH Brad McHugh has been in real estate since 2012. Now a business partner at Highland Property Agents, he loves the variety of his day to day life – and believes in adaptability when it comes to helping clients.

Tell us a bit about yourself and your role at Highland Property.

I first started with Highland Property Agents in 2012, initially as a portfolio manager before progressing to business development and then on to a management role. I now centre myself as a senior client manager, whilst substantially focusing on developing and implementing systems, training staff and identifying key areas of growth and development. My focus is to disrupt traditional practices, incorporate new technologies and invest in developing the very best in our employees. In 2017 I was offered the opportunity to become a business partner in property management.

as well as the extreme differences – whether that be a client situation or office opportunity.

What is the market like in your area right now?

Locally, the rental market has changed considerably over the past six months.

The first quarter we noticed an average of seven to 10 days on market; the second quarter has seen fewer tenants in the market and

What motivated you to get into real estate?

I’ve always been interested in real estate. It’s always exciting. You never know what each day can bring

"If you can adapt and survive in a tougher market, you will thrive when it improves."

6 ELITE PROPERTY MANAGER • SEPTEMBER 2018

high levels of property available, reaching up to 28.8 days on market. Our leasing team has become familiar with these changed market conditions and is now benefiting from sales-based training.

Do you have a mentor or someone you look up to?

Fiona Blayney, CEO and Director of Real+. I’m forever impressed by her extremely knowledgeable and concise information, combined with an honest and fierce approach. I love how she will always try to push boundaries, challenge the process and in general ‘break stuff’, then put it back together in such an amazing and efficient way.

In your ‘briefcase’ right now is… iPhone, iPad, spare pens and a notepad, blank agency agreement, phone charger, lip balm and, of course, business cards!

Something or someone you couldn’t live without?

Something: my iPhone. This contains my whole life!

Someone: my dog, Penny the pug.

What do you enjoy most about Elite Agent?

Real estate is forever changing; it is so important to make sure you take time to stop performing and remember you should always be learning. Adaptability is key, and Elite Agent is the perfect platform for this.

What apps do you use most at the moment?

Realestate.com.au, Inspection Manager, Inspect Real Estate, Pinterest, YouTube for daily motivation.

What advice would you give someone starting out in real estate or property management?

If you can adapt and survive in a tougher market, you will thrive when it improves.

Be real and don’t lie to yourself. Come in eager to learn as much as you possibly can. Don’t be afraid to make the phone calls and have the hard conversations; people appreciate a true advisor and not a ‘yes person’.

Lastly, be compassionate for people’s situations, because one size doesn’t always fit all. Have respect and be adaptable.

Words to live by?

You didn’t come here to play it small; ambition and systems will get you the goal. •

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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.

BE PART OF THE NATIONAL PM SURVEY AND WIN ARPM TICKETS

Property software solutions provider Rockend are looking to hone their property management knowledge with the help of their Australian Property Manager survey.

Rockend are hoping the survey will provide insights into Australia's property managers, which will in turn allow them to better assist the industry and provide better software solutions and support.

The questions of the survey revolve around technology; how property managers use it and how it suits their needs, job satisfaction and training.

The survey will be live between 20 July and 15 August; everyone who enters will go in the running to win two tickets to ARPM, including flights and accommodation. You can find the survey, and more information, at australianpmsurvey.com.

@REALTY TACKLES RENT ROLL MANAGEMENT Rent roll ownership is now one of the leading reasons agents are signing up to @realty, according to Director JJ Taylor. Speaking to Elite Agent, Mr Taylor says rent rolls are an untapped asset for agents operating under a franchise model, which retains ownership if the agent leaves the company or transfers elsewhere.

"Our agents have complete ownership of their rent rolls – they can hold on to them if they leave or can sell all or part of their list at any time to generate additional income as required," he said.

Perth-based @realty agent Phil Taylor says some agents incorrectly assume owning and managing a rent roll is costly and time-consuming.

"Under the @realty model, which allows agents to work independently with the support of a national business, I pay $275 per month for full-time administrative support," he said.

The agency handles payments and maintenance requests, leaving the management of the property, including inspections, to the agent or property manager.

"It's a popular option because agents can use it to supplement their sales activity. It's really about maximising income from all streams,” said Mr Taylor.

8 ELITE PROPERTY MANAGER • SEPTEMBER 2018

Property management agency Leah Jay appoints new director Leah Jay has appointed current Operations Manager Cassandra Lantry to the role of director. The addition of another director marks a new era for the company, which has run under the existing structure for the past 24 years.

Ms Lantry joined the company in 2005 as a commercial property

assistant, progressing through a variety of roles and promotions over the last 13 years.

“From early on, I knew that I wanted to be a part of the future of the business,” said Ms Lantry.

“I am very appreciative of the opportunity to enter this new stage in my journey with Leah Jay.”

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FIRST PERSON

FIONA BLAYNEY

+

Stranger danger?

As children we’re all taught not to talk to people we don’t know. Fiona Blayney ponders the practicalities and asks: What impact does this have on our real estate lives?

G

reen and white stickers once adorned letterboxes across a community; they represented a Neighbourhood Watch (NHW) ‘safe house’. If your letterbox had one of these stickers you were considered a safe house for children in need on their way home from school.

They were a fantastic idea back in the day when kids were walking home from school; should they come into trouble they had somewhere to go for help.

Not only did we have NHW, but we were also schooled about ‘stranger danger’: ‘Don’t talk to strangers’ was the motto of choice, and no doubt there is an ongoing sentiment that exists today for kids.

The problem is I love to talk to strangers, and through example encourage my kids to speak with strangers on a daily basis. I’m chatting with the guy at the coffee shop, the cashier at Woolworths – I’m even ‘one of those people’ who will pay a compliment to a random walking down the street. I’ve made new friends through the kids playing at the park, and of course my work leads me to speak with thousands of strangers each year.

My daughters, however, have begun to chastise me for such communication.

Under her breath my eldest

whispered to me on the bus recently, “Mum, you shouldn’t talk to that man – he’s a stranger”. And I was hit with the realisation that, with obvious intent, I’ve been teaching my kids not to speak to anyone they don’t know.

But life isn’t possible if we don’t talk to strangers. How would we all function? In some of my thinking time, this ‘stranger danger’ anecdote led me to wonder how this ingrained lesson impacted the working life of the real estate agents I coach. I wondered how many people live with an unconscious fear that something bad will happen if they talk to people they don’t know.

Now we’ve hit an era where we not only need to be able to speak with strangers, but communicate with them online too!

Decoding who people are, what they want, and whether we should embrace them or be wary has been taken to a whole other level. Unpacking your relationship to speaking with strangers may provide some insights into how you feel about picking up the phone, prospecting for clients or even dealing with new ones. Perhaps a stranger is not a danger; it’s a friend we haven’t met yet?

On the flip side of ‘stranger danger’, I wonder

NOW WE’VE HIT AN ERA WHERE WE NOT ONLY NEED TO BE ABLE TO SPEAK WITH STRANGERS, BUT COMMUNICATE WITH THEM ONLINE TOO!

10 ELITE PROPERTY MANAGER • SEPTEMBER 2018

Fiona Blayney is the founder and director of Real+ online. For more information visit realplus.com.au.

if we have become more complacent. I have no doubt that most businesses have a heightened awareness of the potential personal risks in our interactions with the public; however, have we dropped our guard when it comes to how we manage this risk day to day? Do we think, ‘She’ll be right; it won’t happen to us’?

As I recorded Transform’s self-defence session I recalled that all of our ‘analogue’ methods for managing people movement (the in/out board), or the safety word when calling into the office, have gone unmentioned for some time – and with the lack of communication I wonder if so too have the practices.

Are you long overdue to invoke your ‘safety policies’ to maintain security in your office? When was the last time you discussed the safety of your team?

At our place, whilst we haven’t kiboshed ‘stranger danger’ completely, we are moving towards ‘tricky people’. We’re teaching the little people in our life that when Mum and Dad are around it’s okay to talk to strangers, but we all need to have our receptors in tune for ‘adults who play tricks on children’. I know a few adults who could do with a tuning of their receptors too! ■

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FIRST PERSON

DEBBIE PALMER

+

How to handle a negative review

It can be quite a challenge for property managers to manage the myriad of online review platforms alongside the day job of managing a busy portfolio. But you shouldn't panic if you get a negative review, says Debbie Palmer, the lessons you learn can be invaluable.

T

he latest review platform, outside Facebook and Google, for property management departments, is a website called ‘Don’t Rent Me’. I recommend you check it out if you’re not familiar, to see whether you or your agency has been featured on what they call ‘The Wall of Shame’.

Following many telephone calls and messages from property managers wanting guidance in how to manage these negative reviews, here are some key points to assist you in responding so that your agency can stand out as professionals who care about their clients and customers. l Monitor all online reviews.

Dedicate this role to someone within the agency to check reviews regularly.

You can set up Google alerts to notify you when your name or your agency’s name appears on the web. l Don’t take negative reviews

personally. As hard as this may be, you need to remove the emotion from your response. There’s no need to stress if you receive a few bad reviews.

Debbie Palmer is a property management expert coach/trainer and REIQ PM multiple award winner.

For more information visit ppmsystem.com.au.

l If it is a public review, respond as a business owner would. Stick to the facts; getting personal will only compound the issue and will reflect negatively on your agency. Always take time to respond, no matter how busy you are. l I recommend that you don’t allow posts on your Facebook page, only comments. l Restate the complaint in your response, remembering that the person is upset and wants to be heard.

‘I apologise that this has happened’ or ‘I’m sorry you feel this way…’. Be sure to highlight your strengths; don’t focus on the negative. l Don't make excuses for the problem, as this can send a message that you are not owning how the person feels.

Instead you could say, ’This was not our intention or usual process’ or ‘This was out of character for us and we would like to make it right’.

NEGATIVE REVIEWS SOMETIMES HURT, BUT THEY ARE VALUABLE FEEDBACK THAT YOU CAN USE TO BUILD A BETTER BUSINESS.

12 ELITE PROPERTY MANAGER • SEPTEMBER 2018

l Work out the details privately. I recommend you provide your contact information and ask the tenant, landlord, client or customer to telephone or email you to discuss the matter further. l Most importantly, in my opinion, remember that people who frequent review sites or look for your business on social media know that not all your reviews will be perfect. Your response will be a stand-out in what they remember. l Finally, watch for patterns.

If numerous people are posting complaints to your social media pages about slow service, rudeness and so on, this is something that may need to be discussed and addressed within your team.

Negative reviews sometimes hurt, but they are valuable feedback you can use to build a better business. ■

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BUSINESS DEVELOPMENT MASTERY 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.

PITCH PERFECT If you are not prepared to demonstrate leadership in your own meetings, you will never be recognised as a trusted advisor for your future clients, says business development expert Tara Bradbury.

I

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

Overall, they saw that I took leadership in the meeting, was engaging and continued to bring the property owner back to conversation points that were raised at the start of the discussion.

IT IS HARD TO SAY NO TO SOMEONE WHO IS WELL-EDUCATED AND PASSIONATE ABOUT WHAT THEY DO. The most important piece of advice I can give is to position yourself and your team as the proactive agents in your marketplace and ensure that, as an agency, you are the main and trusted source for all things property investment. Yes, I know we have so much data online now for our owners and that now more than ever fees are a hot topic. But I can

16 ELITE PROPERTY MANAGER • SEPTEMBER 2018

tell you it is hard to say no to someone who is well-educated and passionate about what they do.

Mindset is key when you are going into this meeting and, whether you are face to face or over the phone, how you engage with the client is the most powerful part of this process.

Make sure you have opening

questions along the lines of, ‘What is most important to you when selecting an agent to manage your asset?’ Then follow up with, ‘What is most important when selecting an agency to manage your asset?’

They may tell you that they have just answered that question. Your response should be, ‘You may feel you have but, in my experience over the last… years, property owners have different reasons for selecting an individual vs the agency. I just want to make sure we have covered all bases prior to you making your decision.’

By taking this approach you are inviting them to think more about the experience they will have with the business across all levels. It also shows leadership in your presentation as they are focusing more on the questions you are asking and not so much on making a judgement about your fees.

Never be afraid to take notes during the conversation and list key areas mentioned that you want to refer back to. If you are like me and lack confidence in thinking on your feet when negotiating fees, don’t let one small aspect of the process overwhelm you.

Make sure you have a calculator on hand to demonstrate your professionalism by presenting calculations as examples. No property owner expects you to be perfect or a financial specialist, so take your time and get it right rather than rushing or guessing.

You should know everything, and I mean everything, about your marketplace – even if it is not an area where you spend time outside real estate. If you were ever going to be a walking encyclopedia, this would be the place to focus your energy.

Property owners love to hear positive stories and know what will impact the property today and over the next 12 months, two or even five years.

Finally, you have this meeting to set the foundations of what the overall experience will be like for the property owner.

Don’t just agree to certain things to win the business.

You may see areas of risk or they may raise ‘red flag’ conversation points. While you may not battle the topic

than one alternative as to what may help them moving forward and allow them to choose what will work best for them. Basically, it gives you more time to think rather than rushing the process, which will keep you in that leadership role during the meeting.

From my experience, you will find during this process that you will be giving the other person a compliment sandwich. Start with the warm and fuzzy opening by

NO PROPERTY OWNER EXPECTS YOU TO BE PERFECT OR A FINANCIAL SPECIALIST, SO TAKE YOUR TIME AND GET IT RIGHT. head-on, when it is mentioned be sure to note it down, ensure you have all the information required from them on the subject and use it as part of your closing conversation, rather than making them feel as though you are telling them what to do on the spot.

We all know some of our clients can get very passionate about how they have lived in the property previously and even the personal renovations they have contributed to get it to where it is today. If you start slamming them with, ‘This is what is required under legislation’, you could put them off and push them away from choosing you as they could see this as forceful and arrogant.

If the opportunity is there, try and use it as a tool during your lead-in or even closing conversation. This means you are still making clear what is expected, and it still allows them the opportunity to decide based on your expert opinion. You can also use this opportunity to provide more

showing genuine interest in what they are presenting and future decisions they plan to make with the investment.

The middle is where you must invest your full focus and leadership skills, as discussions will take place around hot topics like fees, maintenance, occupants, pets, agency involvement and expectations.

This is an area where you need to perform and deliver. Then, finally, we make sure we close our meeting with compliments, with the aim of signing the business on the day – or at least know when we will be having our next discussion.

Don’t waste your time putting in all the hard work to be left wondering if they are even going to call.

The listing presentation is more than just the actual appointment; it’s everything that happens before and after.

Use every opportunity to make an impression and show your prospects that you are the right person to manage their most valuable asset. ■

elitepm.com.au 17

PROPERTY MANAGEMENT MENTOR Natalie Hastings is the Managing Director of hastings + co. For more information, visit hastingsandco.com.au.

WE ARE THE ONES WE'VE BEEN WAITING FOR

It’s easy to think that captains of industry and key thoughtleaders are somehow different to us – superhuman even.

But the only true difference between us and them is an attitude to learning, as Natalie Hastings explains.

I

nspirational quotes from famous entrepreneurs and the thoughtleaders we admire might add flavour to our daily Instagram trawl, but placing great people on a pedestal can be counter-productive. Instead of adopting their wisdom we hold it apart from ourselves.

Whether we use their smarts to improve the daily operations of our real estate businesses or to create a product that disrupts an industry doesn’t matter; what does matter is that we do more than scroll past their advice on social media, and work out ways to implement their wisdom in our daily life.

Here are four pieces of advice from popular leaders that reflect on the qualities leading property managers enjoy.

“Change will not come if we wait for some other person or if we wait for some time. We are the ones we’ve been waiting for.” Barack Obama Great property managers are excellent team builders.

They collaborate with their colleagues, consider trades and their support system an

1

and clear communication are the hallmarks of a terrific property manager. Instead of hiding behind emails or not addressing issues, get frank and enjoy the clarity of true conversation and problemsolving.

“If you are working on something that you really care about, you don’t have to be pushed. The vision pulls you.” Steve Jobs Great property managers have a vision. Property management rarely has the glitter and perceived glamour of sales. It’s a caring role that supports two parties in achieving their goals – financial security and domestic security.

It’s a vision and a distinct purpose to serve that great property managers share; they’re never pushed towards excellence.

“Founding a company is hard. Most of it isn't smooth. You'll have to make very hard decisions. You have to fire a few people.

Therefore, if you don't believe in your mission, giving up is easy.” Mark Zuckerberg Great property managers are great decision-makers.

This doesn’t mean they don’t make mistakes – the longer they’re in practice, the more readily they’ll agree that mistakes are a part of making decisions. Property managers who know their role inside out have the confidence and support to make decisions on behalf of their clients – after all, that’s what they’re employed to do. Whilst they might occasionally be rattled by circumstances or the outcome of a decision, their ‘never quit’ attitude means they don’t beat themselves up – they just get on with the job. ■

3

4 IT TAKES BRAVERY TO HAVE DIFFICULT CONVERSATIONS WITH ALL THE STAKEHOLDERS IN A PROPERTY MANAGER'S WORLD. important part of their success, and understand they need to work with their tenants and landlords as opposed to for them. Property managers hear daily feedback directly from clients and are gifted with the opportunity to make real changes to the way their departments undertake customer service. With the right support, they can take action and participate in the project of making a whole real estate practice a better place.

18 ELITE PROPERTY MANAGER • SEPTEMBER 2018

2

“Shutting down discussion is self-defeating and impedes progress. We need to talk and listen and debate and refute and instruct and learn and evolve.” Sheryl Sandberg Great property managers are honest and open with their team. It takes bravery to have difficult conversations with all the stakeholders in a property manager’s world, from their principal to the distressed tenant who’s behind on rent. Honesty, listening

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elitepm.com.au 19

GAME CHANGER Jo-Anne Oliveri, CIPS, TRC, is the Founder and Managing Director of PM business solutions company ireviloution intelligence.

For more information visit ireviloution.com.

FINGER ON THE PULSE

Just like the human body, your business has a number of vital signs that reflect its overall health. Jo-Anne Oliveri explains the important pressure points and what they might be telling you.

sign that repair is immediately needed to avoid losing managements. Monitoring arrears, including proactively managing tenants who may pose a risk, is how Pulse Leaders ensure their business remains healthy.

VITAL SIGN 2: TENANCY EXPIRY

Pulse Leaders continually monitor tenancy expiry. They know that a high percentage of tenancy terms due to expire in the same month can dramatically increase their team’s workload, quite often leading to other vital signs being neglected. That’s why Pulse Leaders make sure they know the number of tenancy terms expiring each month to ensure there is always an even spread of expiries versus workload.

By closely monitoring tenancy expiry they can help maintain their business’ health.

VITAL SIGN 3: TENANCY TERMS

PULSE LEADERS KNOW THAT TENANTS IN ARREARS ARE A SIGN THAT REPAIR IS NEEDED TO AVOID LOSING MANAGEMENTS. TO KEEP YOUR PROPERTY MANAGEMENT BUSINESS HEALTHY, HERE ARE THE TOP VITAL SIGNS YOU NEED TO MONITOR.

20 ELITE PROPERTY MANAGER • SEPTEMBER 2018

VITAL SIGN 1: ARREARS

Pulse Leaders keep a finger on the pulse of their property management business’ arrears.

Their goal is to keep arrears at zero per cent by managing highrisk tenants. Pulse Leaders know that if their business has tenants with ongoing arrears, this is a

Pulse Leaders also monitor tenancy terms. Keeping their finger on the pulse of tenancy terms can optimise their team’s workload. Unlike some agencies which prefer to implement six-month tenancy terms in case tenants breach their agreement, Pulse Leaders ensure that their property managers implement minimum 12-month tenancy terms. They know this increases productivity by halving the time spent on tenancy renewals.

What’s more, they know that if tenants ever breach their agreement, they can be terminated regardless of the term. By monitoring this vital sign, Pulse Leaders can maintain a healthier workload for their team.

REACTIVE COMMUNICATION MINIMISES PRODUCTIVITY, INCREASES OPERATING COSTS AND OFTEN LEADS TO CLIENT LOSS. training

VITAL SIGN 4: AVERAGE INCOME

Pulse Leaders always check their average income. They know the importance of monitoring their business’ various revenue streams and knowing their average monthly income. If this decreases in any given month, they can more easily identify where and when a change occurred – such as management fees being reduced – and implement repairs where necessary. By keeping their finger on the pulse of their average income, Pulse Leaders ensure their business is always achieving optimal revenue.

VITAL SIGN 5: INCOMING CALLS & EMAILS

Pulse Leaders constantly measure the number of incoming calls and emails to their business. They know that a high percentage signals a reactive communication style, where clients contact an agency seeking information because they are not being kept informed. Reactive communication minimises productivity, increases operating costs and often

leads to client loss. That’s why Pulse Leaders implement a proactive communication style and maintain a 20 per cent incoming, 80 per cent outgoing split. They know that a healthy property management business is one that proactively manages communication.

support

outsourced accounting

VITAL SIGN 6: PRODUCTIVITY

Finally, Pulse Leaders continually monitor their team’s overall productivity. Quite often business owners measure productivity on whether their team is ‘busy’, but Pulse Leaders know that 'busyness' does not always equate to incomeproducing efficiency. Instead, they measure productivity against the number of tasks completed and the time taken to complete them. By keeping their finger on the pulse of their team’s productivity, they can easily detect the difference between busy and productive – and in doing so ensure that their property management business remains not only healthy, but thriving. ■

PULSE LEADERS KNOW THAT 'BUSYNESS' DOES NOT ALWAYS EQUATE TO INCOMEPRODUCING EFFICIENCY.

elitepm.com.au 21

REALTY BYTES Alister Maple-Brown is the CEO of Rockend.

For more information visit rockend.com.au.

WHY EQ TRIUMPHS OVER IQ Twenty years ago, leadership was largely grounded in experience and expertise – but today the best leaders seem to score stronger when it comes to EQ. Rockend CEO Alister Maple-Brown explains.

B

eing a leader often meant you had to be the smartest person in the room or the person with the most grey hairs. But things have changed.

Importantly, strong leadership can be the difference between a thriving and successful business, and one that suffers under the pressures of disruptive change.

So what does it take to be a successful leader in the 21st century?

Drawing from a background of transformative business leadership that few can emulate, Stephen Scheeler, the former Managing Director of Facebook’s Australian and New Zealand business, boils it down to eight key attributes.

1

VISION

The most effective leaders dare to dream. When it comes to business, your agency’s vision is its bedrock. It’s the solid thing your team can count on, no matter how much technology, products or services shift and change.

2

HUMILITY

Strong leaders are humble. All too often a lack of humility can manifest itself as

formula that got you to where you are today likely won’t be enough to take you to the next level. As a leader, you need to be flexible and adaptable, steering and responding to change, as well as helping others face it and adapt.

But mere adaptability is not enough. Leaders need to adapt quickly and proactively if they want to stay ahead.

6

DATA DEXTERITY

7

CUSTOMER OBSESSION

8

SPEED

Effective leaders in today’s market need to use the technology and data available to them to make smarter, more strategic decisions. After all, if you aren’t using today’s data, it will be even more difficult to adapt to tomorrow’s.

WHEN IT COMES TO YOUR CUSTOMERS, YOU NEED TO BE HUNGRY FOR CHANGE – NOT AFRAID OF IT.

arrogance or hubris. You can’t be an effective leader if you feel you’re better than your subordinates.

3

To truly be a successful leader, you need to turn on your curiosity. The key is to never stop seeking out opportunities to learn.

CURIOSITY

Their mantra of transparency permeates their being in every situation. First and foremost, they’re truthful with themselves and don’t use whatever shade of truth that works best at the time. Rather, they adhere always to only one shade of truth: the most accurate and complete truth to the best of their knowledge.

4

TRANSPARENCY

5

Transparent leaders have no hidden agenda.

22 ELITE PROPERTY MANAGER • SEPTEMBER 2018

ADAPTABILITY

Adapting to change is a leadership imperative. The

Leaders need to be obsessed with finding the absolute best technology, products and services to keep their customers happy and engaged. When it comes to your customers, you need to be hungry for change – not afraid of it.

Too many businesses today move too slowly. As a leader, you need to think about time as a scarce resource that you need to measure, conserve, enrich and optimise.

Meeting the challenge In an age of disruptive change, today’s leaders are under a huge amount of pressure.

Unfortunately, many leaders put too much focus on the technologies behind digital disruption, when they should also be addressing these fundamental leadership skills. ■

COVER STORY

TRUE NORTH IT’S BEEN ALMOST 75 YEARS since Michael Love’s

grandfather first opened the doors of Love Real Estate in service of Melbourne's 'North'. Now, as a third-generation agent and director of that company, Michael reflects on the valuable lessons his family’s experience offers him as he sets about “running his own race”.

N

ot many agents can lay claim to hosting their first open home at the age of 11, but when real estate runs in your blood the induction into the industry starts young.

“I think Dad was on daycare and he was selling a subdivision and they were a salesman down,” Love & Co director Michael Love explains. “So he showed me the pamphlets to hand out and told me to take anyone's name and telephone number.

And he said, ‘Just sit in this chair until someone shows up’.

“Well, it was a warm spring day and I sat in the chair and I drifted off, and a client walked in and said, ‘Hello, can you help me?’ Sure enough, I gave them the brochures and took their name and details… but I didn't get a commission!”

The start may have been inauspicious one but for Michael, it was his first foray into a

family business that is now one of the longestestablished agencies in the game.

From its beginnings at Reservoir in Victoria in 1945, Love & Co has grown to encompass eight businesses, including a commercial division, all built on the ethos of putting the client first and ‘getting it right the first time’.

In their footsteps

Michael’s decision to follow his father, Graham, and grandfather, Ted, into real estate may have seemed inevitable but he notes it was always his own choice, and one that he made young.

Some of his earliest memories include driving around with his father, listening to the conversations, negotiations and dealings of a successful real estate sales agent.

“My father has always encouraged me to follow what I wanted to do. Although there may have been some conversations

24 ELITE PROPERTY MANAGER • SEPTEMBER 2018

and guidance in my upbringing that had it that I wanted to become an agent whether I knew it or not… I’ve also been able to do a lot of other things before coming into the real estate space.”

Along the way he has enjoyed the opportunity to work closely with his father and also draw on his grandfather’s advice in an industry that has undergone significant change over the past seven decades.

Service first

The industry may have changed, but the ethos has remained consistent – and Michael says much of that was instilled in him by both his grandfather and his dad.

“My grandfather was a big advocate that our industry is all about service. At the end of the day, we don’t have a product on the shelf to sell as much as we have a service to sell, and we’ve got to make sure that we’re always offering a quick service to our clients.”

If Michael’s grandfather instilled the value of service, his father taught him the importance of considering others. It’s a core belief that extends throughout the business, from how Love & Co serves their customers to the way they support their growing number of staff.

“I’m so grateful to have my father every

elitepm.com.au 25

COVER STORY

“THE PUBLIC ARE OVER HAVING A REAL ESTATE AGENT WHO’S DRUMMING THEIR CHEST AND TELLING THEM HOW WONDERFUL THEY ARE.” day, working alongside him and to have his guidance. Something that was instilled in my father and instilled in me is ‘leave a little bit for the next person’.

“There’s enough there for everybody.

If you’re buying and selling real estate you don’t have to milk everything. That sort of a philosophy in business, I think, is a relationship-building strategy, so that people that you’re working with, it’s not just all for us.”

Resilience in relationships

“SOMETHING THAT WAS INSTILLED IN MY FATHER AND THEN IN ME IS, ‘LEAVE A LITTLE BIT FOR THE NEXT PERSON'.”

26 ELITE PROPERTY MANAGER • SEPTEMBER 2018

Love & Co is an institution ingrained in the North Melbourne community and Michael notes the commitment to serve that community remains strong.

“The role of a real estate agent is about offering value, not just in buying or selling homes. I see more and more real estate agents looking for egotistical positions. I think the general public are a little bit over having a real estate agent who’s drumming their chest and telling them how wonderful they are.

“The fundamental piece when making a business decision is ‘How will this benefit our clients?’ Often I’m given ideas on how it will benefit us which are innovative, though the test for us really in the office is how will it benefit the clients.

“It always comes back to what can I offer? How can I help? What’s of value that I can offer anybody? Really, that’s my focal point.”

The relationships the company has forged include a lengthy list of staff members who have been with them, in some cases, for as long as 50 years, and Michael reflects this too comes down to the philosophy of leaving something for someone else.

“It’s kind of like a marriage,” he says, noting the art is “resilience in relationships”, where you work through things with people while looking to the future and improvement. He reflects that developing teams is one of the highlights of his job, with the focus being supporting staff to attain their goals and ambitions.

“Our business is really about our wonderful teams and we’re very grateful to have them.” And when it comes to selecting the right people to join those teams, Michael says it’s always based on values.

“I like to find out about people but, fundamentally, if they’re not somebody I would feel comfortable to [let] go and pick up my little boy from kinder, then they don’t have the values to work in our team.

Skills I’m happy to train and we do a lot of skills training.”

Changing with the times

Love & Co might boast a long history but innovation remains at its core, and this has been reflected over a number of rebrandings throughout the years.

“We’ve just rebranded in February and again it’s about showing the difference of how our company’s evolving within the marketplace, and making sure that we are staying in contact with our ever-changing community. As they change we need to change and continually develop as a company.”

He attributes that innovation and consistent development to the passion and energy of his team.

“We have great brainstorming,” he notes.

“There isn’t a week that goes by without somebody putting forward a great idea or a great plan. We SWOT that and talk about it, and look at the areas that it could improve or develop, and then we look at implementation.”

Running his own race

Michael enjoys the benefits of the generations of experience that have gone before him, but notes his focus is on “running his own race”.

“I think that being yourself is far more attractive than somebody trying to do something that someone else does well,” he says.

“We all get caught up in the idea of how we should be and that’s something I’ve been

“IT ALWAYS COMES BACK TO WHAT CAN I OFFER? HOW CAN I HELP? REALLY, THAT’S MY FOCAL POINT.” working on a lot lately; just staying focused on where I am now and the opportunities that present now.”

Michael will share further insight into this when he features as a presenter at ARPM 2018 in Sydney in August.

“I’m excited to be speaking at the event; I’m going to be getting the message out to people that who they are and what they are doing is completely okay. As the industry develops, we’re all developing and we’re all improving; nobody is the same person as they were two years ago. Fundamentally, everyone’s really doing the best job they can.”

For Michael his ‘best’ continues to be serving his community, leaving enough for someone else and being true to his own leadership strengths. And with a family business that has established an enviable reputation on the commitment of previous generations, he notes that leaving his own legacy is not something he considers.

“I’m not really looking to leave a large legacy. I’m more looking to support and

grow with the people around me and work as a great team now, more than worrying about what occurs once I’m not here. I know a lot of people talk about ‘legacy, legacy, legacy’ but I make the most of today.

“My goals for the next 12 months are to continue to provide management and support for our team, and look at some new, innovative ways to conduct real estate.”

■ CASSANDRA CHARLESWORTH

Michael Love will be sharing more of his journey from the ARPM Conference stage, 19-20 August in Sydney. For more information visit arpmconference.com.au.

elitepm.com.au 27

METH CONTAMINATION Sorting fact from fiction

FEW WOULD ARGUE THAT AUSTRALIA HAS A PROBLEM WITH ‘ICE’, but

is the hysteria about meth contamination in rentals justified? Sharon Fox-Slater of EBM's RentCover investigates.

“M

eth House of Horror!”, “Ice Epidemic!”, “Rental Properties Test Positive for Meth/ ice”. The headlines are alarming and fuel widespread fears about meth contamination.

Concerns are particularly prevalent in the rental industry, with stories about investment properties being used as clandestine laboratories or smoking dens, and subsequent tenants suffering ill-effects from exposure to the toxic residue.

With alarm bells ringing, agents are worried that they may be managing a ticking health time bomb. But is the threat as big as some would have us believe?

Let’s look at a few facts and fictions.

28 ELITE PROPERTY MANAGER • SEPTEMBER 2018

FICTION

Any use (including smoking) of meth in a rental means it is ‘contaminated’.

Allegations that even trace levels of meth residue pose a risk have been rebuked by the New Zealand Prime Minister’s Chief Science Adviser, Professor Sir Peter Gluckman.

“The extensive publicity surrounding methamphetamine contamination, along with exaggerated claims about the health risks posed by living in dwellings where residues of the drug can be detected, has led to considerable concern especially amongst tenants, landlords, and potential home buyers and property investors,” states the Gluckman report.

Professor Gluckman said the risk of encountering methamphetamine on home surfaces at levels that might cause harm is

JURY IS OUT

Rentals should be tested for meth contamination.

WITH ALARM BELLS RINGING, AGENTS ARE WORRIED THAT THEY MAY BE MANAGING A TICKING HEALTH TIME BOMB. “extremely low” and found no evidence that residue from home meth smoking would harm future residents.

“There is no published, or robust unpublished, data relating to health risks of residing in a dwelling formerly used only for smoking methamphetamine,” the report highlights.

In most cases testing is not warranted, and remediation is appropriate only in former meth labs and properties where “excessive methamphetamine use” is indicated, Gluckman noted.

FACT

Meth manufacturing labs (clan labs) are the main source of contamination.

Manufacturing of meth poses a far greater threat to the safety of the home and the health of its occupants.

Dangerous chemicals, including lithium metal, liquid ammonia, LPG, acetone, hydrochloric acid and caustic soda, are used when ‘cooking’ ice and other meth-based drugs. Not only explosive but corrosive materials are key ingredients in the recipe – and the cocktail of chemicals can leave behind a toxic residue.

If a property is found to have been used as a meth lab, it will require specialist (forensic) cleaning.

Any meth contamination will most likely be invisible, making testing the only way to confirm or refute its presence. However, the need for the home to be tested depends on whether there is reason to suspect the property has been used as a clan lab or the occupants were heavy meth smokers.

Scenario 1 No cause to suspect the home was used as a clan lab or as a smoking den?

Action: Nil. There is little reason to carry out testing.

Scenario 2 Suspect the property is being used as a clan lab?

Action Call the police immediately.

Scenario 3 Suspect the property has previously been used as a clan lab?

Action Investigate further (check with the local council or police). If confirmed, testing should be carried out by a Governmentaccredited testing agency.

Scenario 4 Suspect that heavy meth smoking may have taken place at the property?

Action Consider having testing done. DIY test kits are available and, if the preliminary test shows a positive result, further testing should be carried out by a Governmentapproved service provider.

FACED WITH A LANDLORD ON THE BRINK OF HYSTERIA, AGENTS WILL NEED TO TAKE THE LEAD AND BE THE SOURCE OF REASONED INFORMATION.

IF A PROPERTY IS FOUND TO HAVE BEEN USED AS A METH LAB, IT WILL REQUIRE SPECIALIST FORENSIC CLEANING.

FICTION

Insurers won’t cover the cost of meth contamination clean-ups.

Whether the cost of meth contamination clean-up is covered under insurance depends on the insurer and their specific policy wording or coverage.

RentCover provides up to $65,000 in cover for cleaning up a drug-contaminated property if the damage is caused by tenants during the period of insurance, along with other costs incurred, including lost rental income while the property is remediated.

While I am certainly not suggesting that meth contamination isn’t a very real risk for some landlords and agents, science shows that the issue may not be as widespread as some meth-testing operators would have everyone believe.

As with any risk in renting, the prospect of meth contamination needs to be carefully considered and mitigated. If testing is warranted, our advice is to only engage Government-accredited companies to carry out testing and any remediation works. ■

SHARON FOX-SLATER is the Managing Director of EBM’s RentCover. For more information, visit rentcover.com.au.

Our advice about insurance is provided for your general information and does not take into account your individual needs. You should read the Product Disclosure Statement and Policy Wording prior to making a decision; these can be obtained directly from EBM.

elitepm.com.au 29

CUSTOMER SERVICE

THE CUSTOMER SERVICE QUEEN DANELLE HUNTER IS ONE TO WATCH when it comes to

customer service – and she’s got the AREA to prove it. As Managing Director of Biggin & Scott Knox, here are her secrets for delivering the ultimate customer experience.

“I

don’t like being quiet,” says Danelle Hunter. It’s why she chose a career in property management and what keeps her so responsive to her clients.

Danelle’s customer service dedication culminated in 2017 with a win at the AREAs, where she took the title for Excellence in Customer Service – Residential. But it’s clear that Danelle isn’t in it for the recognition; rather, she’s one of those people who just can’t switch off.

“I’m hopeless! If I’m awake at night I’ll reply to emails. I can be replying to emails at 3am. I have clients writing back to me saying, ‘What’s wrong with you? Why aren’t you in bed?’ The other night someone asked for a financial statement and I sent it to him within two minutes at 8pm on a Friday.”

In her career Danelle has done a bit of everything, from reception to sales, which has led her to her current role in the top job. Her experience in customer service is

30 ELITE PROPERTY MANAGER • SEPTEMBER JUN – JUL 2018 2018

at the forefront when she trains her staff, ensuring they’re delivering the same level of excellence she prides herself on.

“I focus on training new staff from the peer-to-peer system that I've developed. I start by putting someone on as my personal assistant, so I can train them in the way I work and make sure they're answering emails the same day, doing everything the same day.”

Having the skills to keep clients happy is the beginning of what makes a good property manager, but there are more pieces to the puzzle. Being a quick thinker and staying cool under pressure are the other key features Danelle says are important if you’re going to be successful.

One thing she is quick to point out is that keeping clients happy doesn’t mean being a pushover. It’s important to show them that they’re using your services for a reason and they should trust your judgement. Danelle says she’s realised in her career that her clients respect her experience, and she no longer wastes time in places where it won’t deliver value.

“It’s important to maintain your properties well, and be firm with your landlords and tenants. I don't let my

“I CAN BE REPLYING TO EMAILS AT 3AM. I HAVE CLIENTS SAYING, ‘WHAT’S WRONG WITH YOU? WHY AREN’T YOU IN BED?’” landlords walk over me and say, ‘No, I won’t do that repair’. I let them know that they have no choice. I don’t waste time with multiple quotes; I’m clear that my tradesperson has been working with me for ten years and he's great. He'll give them the best price. Because my clients have that trust in me, it makes it easier for me to manage them and not waste time.”

As far as Danelle is concerned, delivering the kind of customer service that people rave about can easily be boiled down to responding in a timely fashion. The number one complaint property managers get is from clients who have had to wait too long for a reply. Even if it’s just a quick acknowledgement email while you look into a problem, Danelle says that making

your clients feel heard is the quickest way to build trust.

“That's the number one complaint I have when I'm signing up new business: they've had a bad experience with customer service. Respond quickly, even if it's like, ‘I'm not sure of the answer – I need to look into it more and I'll get back to you’.

It's better than ignoring them until you’ve thought it out.”

Danelle’s compulsion to respond to emails immediately stems from her time in sales, where an ignored request can equal a lost transaction. Bringing this experience to her property management offerings has allowed her to build a substantial rent roll of dedicated clients.

There are five offices currently under Danelle’s management, and her current focus is on growing those rent rolls. While one office has been grown to around 350 properties, another is just getting started, so she knows she’s got a lot of work ahead of her. But, considering her dedication to her clients, it seems unlikely that Danelle is scared of hard work.

■ HANNAH BLACKISTON

elitepm.com.au 31

FEATURE INTERVIEW

“I DEMAND NOTHING BUT THE VERY BEST FROM MYSELF EVERY DAY.”

DELIBERATELY

DIFFERENT 32 ELITE PROPERTY MANAGER • SEPTEMBER 2018

ADAM FREITAS GREW UP IN A REAL ESTATE FAMILY and

never even considered another career. As a BDM he sets high standards for himself and his clients, supported by his young family – and the thought of a long-awaited holiday.

T

ell us a bit about yourself and your agency.

I was born and raised in Sydney’s Inner West. I’ve been around real estate my whole life but started in 2002 and have only worked in the Inner West. I’m highly driven and committed to my clients, and I focus on having a thorough understanding and respect of their individual needs. I demand nothing but the very best from myself every day.

At Raine & Horne Newtown we are deliberately different. We constantly look at innovative ways to better engage with our community. We are an established full-service real estate agency; we’ve been in Newtown since the early '70s and trading under our licensee for almost 20 years.

As the sales and rental market leaders in Newtown, our team consists of 25 staff in total, with our property management team consisting of 14.

"THE BEST PIECE OF ADVICE I COULD GIVE IS THIS - YOU’RE NO LONGER IN PROPERTY MANAGEMENT, YOU’RE IN SALES" How did you get your start in real estate?

My father was in real estate before I was born, so growing up real estate was always, and remains today, the topic of conversation. I still remember our weekly Sunday family drives. Dad would point out all the houses he had sold or had coming onto the market. There wasn’t a chance I was going to end up doing anything else.

What is the market like in your area right now?

Currently the market in our city fringe

core area is going through the traditional sluggishness we’ve come to expect at this time of year. It’s hit-and-miss, with the quality properties moving well and the less desirable properties sitting on the market for longer. Prospective tenants are pricesensitive; we make it a priority to have the correct conversations with our landlords so their expectations are in line with the market.

What is your secret to maintaining healthy relationships with landlords and tenants?

With home ownership continuing to plunge across Australia and the birth of the ‘rentvestor’, the level of service you provide a landlord and a tenant has become more crucial than ever. Throw in social media and how easy it is to be ‘rated’, and you’ll see there is no room for error. For starters, your tenant might have an investment property that they’d be happy for you to manage if you treat them well, or a landlord can share a disappointing experience with the click of a mouse. Treating your landlords and tenants both as ‘clients’ and providing the same care and respect to each goes a long way to maintaining healthy relationships.

Do you have a mentor, or someone that inspires you?

Firstly, my wife and family inspire me every single day; they keep me on track. Away from my family, though, I meet with Kate Benjamin from Real+ every month. Kate helps keep me accountable. We constantly monitor my KPIs and look at ways I can be more effective and efficient. I also work with a great team who lay the platform for me to be the best I can be. I work closely with our Head of Property Management, Bruna Romano, who has over 20 years’ property management experience. She makes for a great sounding-board and always has the answer, even for the more difficult situations.

“GET THE TRAINING, IMPLEMENT THE TRAINING AND BE THE BEST YOU CAN BE.” What changes do you see happening in property management in the next 12 months?

We’re already seeing more and more principals focus on their property management departments and improving where they see necessary. I believe we’ll see a continued focus across the industry, especially now that the sales market is cooling. Offices will learn to become more proactive, better communicators and expert property marketers, amongst other things.

How do you relax outside real estate, or maintain a work/life balance?

Outside work I love spending time with my young family. Nothing brings me greater pleasure. Family is everything to me and really keeps me grounded. I also love training at F45. It allows me to mentally switch off and look after myself which is important, allowing me to be my best for my clients.

What’s next for you?

My goal that I have been working towards for this year is to take my family to Europe for four weeks. I haven’t taken a holiday for that long for at least five years; I’ve been focused on growing our business and giving as much of myself as possible. I think I’ve earned the holiday!

What advice would you give someone starting out as a BDM? For those starting out as a BDM or transitioning from a property manager role, the best piece of advice I could give is this you’re no longer in property management, you’re in sales. The property management experience is fantastic and will help you stand out from the crowd, but the skill set you will be using moving forward is entirely different. Get the training, implement the training and be the best you can be. ■

elitepm.com.au 33

ARPM SPECIAL

TRIBE OF

EXPERTS ARPM is back for its 16th year to

be held on 19 and 20 August.

Drawing inspiration from Tim Ferriss' Tribe of Mentors, we asked this year's expert speakers how they make things happen in their own businesses and what they've learned along the way.

EMMA SLAPE

CEO, TURNER REAL ESTATE What is the most important thing you are working on and how are you making that happen?

Shaping our business to be as efficient as possible, whilst not losing the personal contact. Real estate is a people business, so we must utilise technology but also remember that people chose us for our experience, skills and ability to communicate effectively. Our team constantly reviews what we do and why we do things in a certain way.

Where do great ideas in your business come from?

There are so many inspirational people in real estate. Lachlan Turner and I find great value in seeking out the best minds and sharing business ideas. We love being part of national conferences, working with leaders such as Lee Woodward, Deniz Yusuf and Darren Hunter, and meeting other business leaders who share similar values and goals.

Who are your leadership mentors and what do they do to inspire you?

Emma Slape

34 ELITE PROPERTY MANAGER • SEPTEMBER 2018

I have mentors inside and outside real estate to keep a broad perspective in business. I relate to people who have a service-focused background and strive for continuous improvement.

How has a failure, or apparent failure, set you up for later success?

Bradley Fraser

A common phrase of mine is, ‘If it’s a complete disaster, we’ll change the plan’. I guess it’s always about monitoring what’s going on and making continual tweaks when things aren’t perfect. My team always know that if something doesn’t look right we need to change, not complain about why it’s wrong.

What is one of the best or most worthwhile investments you’ve ever made?

Investing time in our team and people is always important, to know what’s valued by them and how to engage and motivate them.

Having a diverse team gives us agility and depth, and knowing where those strengths lie in the team is a key to success.

In the last five years what new belief, behaviour, or habit has most improved your life?

Learning a language is really interesting and challenges your thinking. I play Spanish podcasts in the car; it immediately takes you out of your current busy work life and forces a different way of thinking. It can be quite a circuit-breaker after or during a busy day.

What commonly given advice do you think people should ignore?

That technology is the answer to everything.

Technology is crucial, absolutely, but look at what you need to change and how it works with your business and systems.

“IF SOMETHING DOESN’T LOOK RIGHT WE NEED TO CHANGE, NOT COMPLAIN ABOUT WHY IT’S WRONG.” BRADLEY FRASER

NEW CLIENT CONSULTANT, MCGRATH LOWER NORTH SHORE What is the most important thing you are working on and how are you making that happen?

At present we are implementing a new short-term letting partnership with a couple of businesses that offer innovative and consumer-oriented solutions to holiday accommodation. We are actively listing homes and apartments for this, and my role is focused on training and bringing new clients into the fold.

Where do great ideas in your business come from?

Most of the better ideas I’ve had have been organic and derived from on-thejob activities. Simple things like private inspections six days a week to set me aside from the competition is a good example.

Things don’t need to be revolutionary to make a material difference.

Who are your leadership mentors and what do they do to inspire you?

Elon Musk works every day, leads by example, is making the world a better place and has devoted his own resources to each venture, putting his own financial stability on the line.

How has a failure, or apparent failure, set you up for later success?

Early on in my career, I had numerous occasions where I thought I was doing the right thing by a client and found I was doing the opposite – mostly in pricing homes, trying to please my clients. It came to a head after I lost a few listings as I hadn’t achieved the expected result; I finally decided I would take a stronger line and stick to my guns irrespective of what my client wanted.

Then, the next listing I lost to a competitor with the client feeling I had 'underpriced' it.

Four weeks later, the client came back and gave me the listing; they hadn’t had any luck at the

higher price and their agent had asked for three price reductions in four weeks. Always stick to what you believe in – if you try and appease people by ignoring your own beliefs, you are doing both yourself and them a disservice.

What is one of the best or most worthwhile investments you’ve ever made?

Putting together a team. In my role it’s unusual to be anything but a sole operator; since I took someone on (I now have two team members) my business has grown and time spent working on building my business has increased. I can’t emphasise enough how important it is to be concentrating on tasks that are utilising your talents, not wasting time on tasks you’re not suited to.

In the last five years, what new belief behaviour or habit has most improved your life?

Hard conversations – have them, don’t dissemble or avoid; they’re often the only conversation that matters.

What commonly given advice do you think people should ignore?

‘Perfect week’. It works for some, it doesn’t for others. Don’t feel judged by those it does work for and make sure you have clear accountability that suits you.

elitepm.com.au 35

ARPM SPECIAL

BEN FOSTER

HEAD OF PROPERTY MANAGEMENT, CAMERON What is the most important thing you are working on and how are you making that happen?

“JUST GIVE IT A GO. WHAT'S THE WORST THAT CAN HAPPEN?”

We have been transitioning to a new software platform called Re-Leased, moving from a server-based to a cloud-based program. This has really been the focus of future-proofing our business and providing a more nimble solution to our clients.

Where do great ideas in your business come from?

Great ideas within our business come from our staff. I think one of the greatest assets we've got is the ability for them to speak freely and make suggestions for improvements to our team and how we operate.

Following one suggestion we've implemented the 'Cameron Chronicle’, an internal monthly digital newsletter touching on what everyone's doing; birthdays, anniversaries or milestones, sales and leasing transactions, new managements onboarded, updates from our managing director and staff interviews.

Who are your leadership mentors and what do they do to inspire you?

Our managing director, Ben Cooper, is very innovative and a market leader in our space.

I'm often in awe of some of the ideas he implements. I also look to established people who started the company, such as David Cooper and John Cooper, and people like Tom Ferry; I know he's very sales-driven and motivated, as is Tom Panos, but some of their ideals filter through to whatever industry you're in.

How has a failure, or apparent failure, set you up for later success?

I don't look at them as failures but more as 'learning experiences'. I've made some mistakes along the way that have affected the operations of the business, the direction we've gone or staff retention. I think all of them, successes and failures, help us grow and improve. If you repeat that mistake, you're a slow learner and probably need to look at yourself more than the failure.

What is one of the best or most worthwhile investments you’ve ever made? Could be an investment of money, time, energy, etc.

I'm very conscious of making time for my family outside of work. Early on, I made the

Ben Foster

mistake – I think most real estate agents do this – to dedicate a lot of my time to real estate.

Now I drop my boys to school two days a week and I get to soccer training; they're nonnegotiables in my diary.

In addition, I encourage my staff [to invest in] professional development. Attending courses, seminars at the REIV run, things like ARPM or AREC. Professional development investments are important to anyone looking to grow their personal wealth through salary increases and professional opportunities.

In the last five years, what new belief, behaviour or habit has most improved your life?

Having an open-door policy has given me

36 ELITE PROPERTY MANAGER • SEPTEMBER 2018

really good rapport with all levels of my team, but the downside is they can come to rely on it too much. That's one of the strongest habits I'm trying to obtain; to be a good soundingboard and mentor, but not do the job for them. Giving them the rope to go and do it themselves and have the confidence that I'll back them if it doesn't work out.

What commonly given advice do you think people should ignore?

‘You can't do it.’ Just give it a go. What's the worst that can happen? I encourage my kids that it doesn't matter if they don't kick a goal, but if they don't step onto the soccer pitch, they're not even going to get a chance of kicking a goal.

ASHLEY FELL

HEAD OF COMMUNICATIONS, MCCRINDLE What is the most important thing you are working on and how are you making that happen?

I have a few international conferences coming up, so developing new content for these is a priority at the moment, using research to update and individualise the content.

Where do great ideas in your business come from?

The great ideas in our organisation come from collaboration, whether that’s within our team or with our clients, to create and design solutions. As researchers we also use research and insights to help drive strategy and idea creation, using the tools at our disposal to identify the trends impacting our industry and how to be responsive to them.

Who are your leadership mentors and what do they do to inspire you?

Lisa McInnes-Smith is someone I have drawn inspiration from for a number of years. She is a phenomenal communicator with a powerful message. I also have the privilege of working alongside Mark McCrindle, whose leadership, generosity, humility and ability to inspire people I really admire.

great experience and, although a little stressful, was so worth the time and energy I invested into it. While I was a bit nervous in the lead-up, when I was delivering it I loved every minute.

How has a failure, or apparent failure, set you up for later success?

With the rise of digital devices and their presence in our lives, I’ve tried to reduce how much I use my mobile phone when spending quality time with people, or when trying to accomplish a task. Research suggests that even the sound of a message can distract and disrupt, so I’m trying to be more present by limiting my mobile use, which I’ve found really helpful.

Early in my career, I learned a valuable lesson when I under-communicated with a journalist who was running a story we were supplying data for. When I realised, I went to the journalist and explained the missing details and why I had overlooked them. I learned through this the value of communicating, even the tough or negative information, and why it’s important to establishing trust.

What is one of the best or most worthwhile investments you’ve ever made?

Delivering my TEDx talk last year was such a

In the last five years, what new belief, behaviour or habit has most improved your life?

What commonly given advice do you think people should ignore?

‘Love it or leave it’. Whether it be in reference to a career or something else, I think there is merit in persevering through the times when we may not be ‘loving’ something, and seeing it through (for a time) to see if this sentiment changes. ■

“I THINK THERE IS MERIT IN PERSEVERING THROUGH THE TIMES WHEN WE MAY NOT BE ‘LOVING’ SOMETHING, AND SEEING IT THROUGH”

Ashley Fell

elitepm.com.au 37

THE SELF-TAUGHT

LEADER BUSINESS OWNER AND LEADER Kylie Maxwell

finished her last year of secondary school not knowing what she wanted to do. From the reception desk to business owner, she shares the top takeaways from her journey to leadership.

38 ELITE PROPERTY MANAGER • SEPTEMBER 2018

W

ith no ambition and possibly no ability, I wasn’t planning on being a leader. Twentyseven years later, I’m a business owner and frontline property manager and I seem to have filled those leadership boots quite well.

Taking the steps from receptionist to property manager to business owner, and naturally to leader, has been quite a learning curve. Here are my takeaway lessons.

LESSON ONE

IT'S NOT ABOUT THE GLORY

I remember, not too long ago, sitting in an awards night where a lot of my team had received awards and rightly so – they deserved every bit of recognition. I was not eligible for anything.

In my office these days I am a Jack of all trades and wear numerous hats. However, I had a moment of emotion come over me and had to excuse myself from the table to go and have a little cry in the ladies’ toilets.

I was the one who had supported them, advised them what to do and at times had done a lot of the hard work for them, which in turn allowed them to reach their goals and targets, be in the spotlight and get recognition for their jobs.

It took me a long time and a lot of coaching to realise that as a leader your reward is personal satisfaction, seeing your team grow and get their chance to shine. I am now at the point where I can give myself a silent high-five and say, ‘I helped get them there’.

I’m happy not to get the beautiful glass dust collector with my name on it.

LESSON TWO

YOU NEED TO LET YOUR TEAM FALL

Let’s face it, property management can be hard at times and, with little to choose from in the talent pool these days, you want to do what you can to retain staff. I thought that by taking on the hard stuff, putting out bushfires and protecting my staff from stress I was doing the right thing by them. Boy, did I have that wrong.

All I was doing was stunting their growth and not allowing them to feel the satisfaction of providing a solution to a complex issue.

I didn’t realise until a trainer advised me I was being selfish, not to mention burning myself out. I now look at this in a whole different light. Sure, I still help, but the pile of ‘too hard to handle’ work no longer sits on my desk.

The empowerment and growth in my team has been incredible. I now allow them to tackle the hard stuff and we brainstorm solutions, with most answers coming from them, and just a few tweaks and support from me. This gives the team confidence in their ability and allows them to grow into efficient and capable property managers.

Guess what? They are also happy to stick around and I no longer micro-manage…

Weight lifted, sigh of relief!

LESSON THREE

NOT EVERYONE IS GOING TO LIKE YOU

Steve Jobs once said, “If you want to make everyone happy, don’t be a leader; sell ice cream”. There has never been a statement that rings so true.

Our job as leaders is to constructively listen to our team, look at the facts and the business vision and then make an informed decision on the best direction or path to follow. Unfortunately, not everyone is going to agree with or like that decision. Don’t jump from one answer to another; just make it and stick with it. As a leader you’re not there to win friends and make people happy all the time. Don’t sugar-coat it; people will soon lose respect in you if you try to be a people-pleaser. Nothing will be achieved, and the business and team will not be working in a uniformed direction.

"IT TOOK ME A LONG TIME TO REALISE THAT AS A LEADER YOUR REWARD IS PERSONAL SATISFACTION, SEEING YOUR TEAM GET THEIR CHANCE TO SHINE." LESSON FOUR

IT’S YOUR SHIP AND YOU NEED TO STEP UP AND STEER IT

Several years back I walked into an office which had lost their senior property manager. Two sales-based directors were doing the best they could to ensure everything was running smoothly, but nobody was really steering the ship in that area of the business. The directors were putting out little bushfires here and there, but they also had their sales department to run and they were both excellent selling principals. The property management team were struggling on a foundation of mixed procedures and processes. The department was stressed, staff morale was low and business was walking out the door. Someone had to step up and steer the ship and turn it around.

I made the decision to wipe the blackboard clean and we started from scratch. As a team we worked on what was working and what wasn’t. We developed a procedures manual that everyone could work with and started to row the boat in the right direction instead of going around in circles. Staff morale picked up, things were done more efficiently and the stress levels went down. The team had direction and leadership.

LESSON FIVE

YOU NEED TO BRING THE ENERGY

A great saying is, ‘A fish always rots from the head down.’ If you walk into your office and the team seem stressed, the energy levels are low and work productivity is not great, then as a leader you need to take a good hard look in the mirror.

Your team’s energy is only going to be as good as the energy that comes from the top. As leaders we set the tone and the example in the work environment. If I was continually moody, snappy, stressed, late and not treating clients with respect, what type of atmosphere and example do you think I would be setting for my team and the office environment? Does the term ‘walking on eggshells’ ring a bell?

On the other hand, if I’m upbeat, vibrant, supportive and bring the energy all the time, my team is more likely to feel at ease and stress-free. As leaders we not only need to walk the walk; we also need to talk the talk.

Leadership is hard, and it may not be for everyone – but it can be. You need to grow yourself before you can grow others. My advice is to have a look in the mirror and ask yourself, ‘Would I follow you?’ ■

Kylie Maxwell is Director and Franchise owner of LJ Hooker Queanbeyan, with 25 years’ experience in property management.

Kylie will be speaking about ‘Elite Transformation’ at ARPM 2018. For more information visit arpmconference.com.au.

elitepm.com.au 39

FEATURE INTERVIEW

PROPERTY MANAGERS LOVE PROBLEMS AFTER MORE THAN A DECADE IN PROPERTY MANAGEMENT, Sam

Nokes has worked his way up to Head of Department at Jellis Craig. Overseeing a team of 24 who manage a rent roll of over 1,600 properties, he’s also learned a thing or two about problem-solving.

O

ne thing Sam Nokes is sure about is the number one thing a property manager needs for a successful career is problems.

“You need to love problems. If you don't love problems find another job, because professional problem solver and property manager are interchangeable titles,” he says.

“The more problems we have to solve the more excited we should be, because if we don’t have problems then we don’t have a job. I love problems.”

Since getting his start in property management as a work experience student in high school, Sam’s been building a reputation in Victoria. The South Yarra resident also works in the region, managing properties across the Jellis Craig offices in Armadale, Richmond, South Yarra and Sorrento.

“YOU CAN’T HIRE THE FIRST PERSON THROUGH THE DOOR: OUR PROCESS TAKES WEEKS." Sam’s current role focuses on strategy and growth, as well as mentoring his team of 24 who are spread out across the four offices.

Keeping control of a large team, especially when they’re not in the same location, can be tough; but the key is to establish trust and set up clear processes.

“Trust and engineering are the two important things there. We’ve tried to embrace giving our team as much trust as possible, because we want them to feel engaged and feel ownership of the work they do.”

Not only is there no time to micromanage

40 ELITE PROPERTY MANAGER • SEPTEMBER 2018

when you’re working with a large team, giving your team autonomy also allows your workers to take pride in the work they deliver. By giving them trust and letting them know you believe in their work, property managers are able to take control of their own portfolios and tackle problems without constant managerial input.

It helps when you hire the right people.

Sam says the employment process in his offices can take weeks, but it’s important that they find the right person for the role.

“You can’t hire the first person through the door. Our process takes weeks to go through, but it’s engineered that way on purpose to make sure we have the right people in the team. It’s worth a bit of pain in the meantime. If we have a role open for a couple of weeks without someone in it, that’s just the price we pay for building a great team.

“You want people who enjoy the work

they do and are happy being here. That translates to customers who you know are extremely happy and will be getting the best experience.”

There’s been a steep learning curve for Sam when it comes to management.

Understanding how to handle different personalities in a team is something he used to think was a waste of time, but now he realises that delivering a management style unique to the requirements of each worker achieves better results.

“We adapt our style. It depends on the situation and the person, and there’s a shift between the levels of requirement from each team member. We need to work really closely with some team members, compared to others where we’re very hands-off.”

To improve communication across the offices, Sam and his team work on a needto-know basis. An overflow of information can result in employees switching off, information getting missed and overflowing inboxes.

“Understanding the depths of messages for different groups of people is really key. If you've got a project on and 80 per cent of the business needs a top-line overview of it, then they don't need to understand the detail and have that communicated.”

"KNOWING THE AUDIENCE AND WHO IS RECEIVING THE INFORMATION MEANS IT IS EASIER TO DECIDE WHO NEEDS THE MOST DETAIL." Keeping the workplace engaged with a quick FYI email gives them all the information they need, Sam explains, rather than holding a conference call for every tiny change in a project. The same can be said for handling landlords and tenants. Not every communication needs to provide too much information; most clients are satisfied with a couple of lines, and the ones who require more will request it. Plus, knowing the audience and who is receiving the information means it is easier to decide who needs the most detail.

One of the things Sam is known for in the industry is a focus on mentoring and training. Property management training

doesn’t traditionally receive the same focus as sales, but a lot of leaders in the industry have suggested this could change. While it’s something Sam feels is important, he doesn’t see it changing any time soon.

“Property managers get promoted because they hang around long enough and therefore they become a head of department.

Then, when someone asks a question that they don't know the answer to, they decide to do some training. That’s the basic process for how training develops in property management.”

Sam’s offices have embraced the push for sales training by combining the BDM team with the sales team for training sessions.

This means the whole team is getting training at least once every fortnight, and the property management team also have access to the Real+ platform.

“Unless someone is willing to invest the resources, it’s not going to change. It needs to start higher; the heads of departments need to hire trainers.”

■ HANNAH BLACKISTON

Sam Nokes will be speaking at the ARPM Conference on 19-20 August at The Star, Sydney. For more information visit arpmconference.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

FEATURE INTERVIEW

EWAN MORTON

IN THE TWO DECADES SINCE HE TOOK THE HELM, Ewan Morton

has turned a small family agency into a multi-award-winning industry leader, as Rockend’s Catherine Vissiere discovers.

"THERE ARE NO SECRETS TO SUCCESS"

42 ELITE PROPERTY MANAGER • SEPTEMBER 2018

T

he desire for excellence has always been at the crux of what gets Ewan Morton out of bed every day.

It is this relentless drive that has helped the 50-yearold turn the fledgeling family real estate business he co-founded with his father Mark 22 years ago into the burgeoning real estate and property management operation Morton is today.

Starting with a single office specialising in residential property, Morton is now considered one of Sydney’s leading independent agencies, with more than 85 team members spread across eight separate sites.

Always seeking to challenge convention, in 2013 Ewan made the bold decision to introduce an employee share scheme to incentivise his team. The company has always been about growth, and Ewan has always ensured he led from the front.

He has helped the agency secure numerous industry awards for everything from general business excellence, being an eight-time winner of the REI Large Agency award, to expertise in property marketing.

“There are no secrets,” he explains.

“It’s hard work and you have to remain consistently disciplined. I swim or exercise daily because I need to keep my mind focused. If you’re going to be in real estate for the long term, which is what you have to do in order to be successful, then you’ve got to have these structures in place to keep you [sharp].”

The entrepreneurial spirit hit Ewan early; he started his first business – in gardening and rubbish removal – while completing an economics degree at the University of Sydney. Eager to learn from the best, he set his sights on securing a place in the prestigious IBM graduate program, a goal he achieved just months after graduating.

“I did the IBM graduate program for 12 months; it was full on, it was tough and it wasn’t necessarily enjoyable. But I really credit it for giving me resilience, discipline and exposing me to a much bigger world. I learned a lot working there that I was able to bring into my thinking for how I wanted to run Morton,” he says.

Having made the strategic decision to become a non-selling principal from the beginning, Ewan Morton has spent his time curating Morton Real Estate’s leadership and development program. He has created opportunities

“THE REASON WE GROW HAS NOTHING TO DO WITH MONEY – IT’S GOT TO DO WITH GIVING PEOPLE CHALLENGES TO MAKE SURE THEY’RE GROWING." that have seen his team grow and expand to offices across Circular Quay, Pyrmont, Woolloomooloo, Green Square, Wentworth Point, Penrith, Riverwood and Crows Nest – in the process establishing Morton as a dominant player in the building management field and as a specialist in Sydney CBD and city fringe residential sales.

“The reason we grow has nothing to do with money – it’s got to do with being able to give people further challenges to make sure they’re growing and enhancing their skill. My goal has always been to develop opportunity within the business and allow others to feed off that.”

Morton has since helped the company flourish from a rigid sales-dominated agency with a rent roll of just 40 to a more fluid operation, with property management now accounting for around 50 per cent of the company’s turnover.

“We work hard to keep that balance, because the property management division has always saved us during hard times in terms of having consistent cash flow, but not having to reduce infrastructure,” he says.

“It’s a great relationship builder and that’s what I believe we’re good at.”

Another area in which the agency has proved itself particularly adept is in having its ability recognised on a national stage.

Part of the reason the agency started entering industry awards was to raise its profile. But, since winning their first industry award more than a decade ago, the focus has since shifted to that of demonstrable consistency.

“Since 2004 we’ve been a finalist 90 times and won 33 awards. The reason we do the awards is because it demonstrates consistency to both our customers and our people. When someone comes to work for us and they see that we’ve consistently won these awards, they know this is a group of people that takes excellence seriously. The awards give you a point of

review and they provide a moment for you to reflect, which I think is a good thing. The submissions do everybody’s heads in, but now we’ve started on this path we can’t stop,” he says.

Having benefited from the wisdom of those who have preceded him in the real estate community, Ewan believes that it is important to give back. He operates an open-door policy at the agency and says he has always been “open to sharing” both successful and unsuccessful strategies.

Currently providing informal mentoring services to an executive outside the industry, he hopes to use his role as a director of Real Estate Institute of NSW to reinstate its mentoring program.

A father to three daughters aged 15, 14 and 12, Ewan says that, while work remains extremely important to him, his family has taught him the importance of finding ways to blend his professional and personal life.

Attending his office’s auctions held each Saturday while also honouring his commitments as a director of REINSW is a key priority, but no more so than ensuring he is also present at important fixtures on the school calendar.

While he professes to work an average of 50 hours a week spread across five days, in truth, after work events and team commitments are factored in, the scope often creeps. He practises what he preaches, however, and flexible working conditions remain a core component of the agency’s ability to retain a highperforming team and keep its employee engagement at 94 per cent across the board.

“My wife works part-time and I make sure I’m home to pick up my kids and do dinner and stuff like that. I work from home at times, I work from the café at times; I have a desk, but I’m constantly moving. As a leadership group we used to talk about work/life balance, but now we’re talking about work/life blend and how you can give people the flexibility to be good parents and good family people while ensuring they remain good at their work too.” •

CATHERINE VISSIERE is the Head of Marketing at Rockend. For more information visit rockend.com.au.

elitepm.com.au 4 3

OVERCOMING

WAGE WOES IN THE MODERN AGENCY WHEN THE MARKET SLOWS, many have found

that without cash to fuel the business it is impossible to invest more to grow. But embracing change in the way property is managed can improve the bottom line, as Mark Engelmann explains.

4 4 ELITE PROPERTY MANAGER • SEPTEMBER 2018

W

hat is stopping your agency from achieving growth, and not just surviving but thriving in the current market? Most people would say it’s cash.

Whether it’s growing your people through training and development, growing your market though lead generation and business development, or growing up operationally by investing in new technology, it all takes time and costs money. So the spotlight often returns to

Cloud technology expenses; specifically, a review of ‘fixed’ and ‘variable’ costs.

One of the biggest costs is no doubt going to be labour.

The cost of labour is a killer, but property management staff are essential – and they can only manage around 100 properties each, right? Even if they could take on a few more, that only alleviates things for a little while until you have to hire more staff to manage the growth. We’ve heard this scenario time and time again.

There are four levers you can use to manage your labour costs: 1. Staff hourly rate 2. Employee benefits 3. Staff productivity 4. Process efficiency John Knight, Managing Director at businessDEPOT, says it is not uncommon for cost of labour in the PM business to sit around 50 per cent; however, the best agencies are operating at around 37 per cent. At Beepo we have customers who, through the use of outsourcing and cloud software, are achieving results of 25 per cent.

It all comes down to how many properties each property manager can service.

Everyone has a different opinion on this, but generally it seems most people would agree that it sits around 100 properties per fulltime property manager. But, with the right support, they can manage two or even three times this figure.

We have many successful agencies using outsourcing as a lever to free up cash in their business to invest and grow. As I mentioned, one of our agencies is operating a cost of labour at 25 per cent and their property managers are managing 250 properties each, with a fast-growing rent roll.

How have they done that? Three broad activities have been brought together in an efficient manner to achieve this result.

Outsourcing offshore

By supplementing your existing team with offshore resources, you can create an environment that allows your local team to stop the process-driven work and focus on what is important to the business, such as business development and investor wealth creation.

"IF YOU HAVEN’T MOVED TO THE CLOUD YET, INVESTIGATE YOUR OPTIONS AND PUT THE WHEELS IN MOTION NOW." Outsourcing locally

Outsourcing inspections has its pros and cons; although it is a simple process, it is also incredibly timeconsuming. How much time does your team spend on inspections?

Someone has to complete and issue the entry notice, drive to the location, spend enough time at the property to complete a thorough inspection, write the report and send it to the landlord.

Your property managers do not need to do this; hand it off to a specialist organisation to look after it for them.

Automation and artificial intelligence are no longer science fiction. Technology has come a long way; if you haven’t moved to the cloud yet, investigate your options and put the wheels in motion now. New software platforms have varying degrees of automation and or artificial intelligence built into them (or can be easily integrated), freeing up your team’s time to focus on the high-value tasks.

The obvious benefit of running at a lower cost of labour is a glowing bottom line – but that’s the short game. The industry is becoming more and more competitive.

New players, new business models and new technology are creating the perfect environment for customers and a very competitive environment for business owners. The key for survival is remaining relevant and enhancing your value. •

Mark Engelmann is co-founder and Chief of Content at Beepo.

He has helped hundreds of companies successfully implement an outsourcing strategy in their business. For more information visit beepo.com.au.

"THE OBVIOUS BENEFIT OF RUNNING AT A LOWER COST OF LABOUR IS A GLOWING BOTTOM LINE – BUT THAT’S THE SHORT GAME." elitepm.com.au 4 5

LEADERSHIP

9YOUSIGNS MAY BE MORE

CUT OUT FOR LEADERSHIP THAN YOU THINK INCREASED FOCUS ON THE IMPORTANCE OF EMOTIONAL INTELLIGENCE (EQ )

in the workplace is helping to redefine what it means to be a leader. Ush Dhanak shows how your attitude and reaction to everyday events can reveal your true leadership potential.

A

re you underestimating your emotional intelligence and power to lead? Have you turned down the opportunity to interview for leadership positions because you’re not ‘cut out’ to be a leader?

Self-doubt is common, even among very capable individuals. We live in a world where big egos abound and it can leave many feeling inadequate. But don’t allow this to hold you up from doing the things you want – and that you’re really good at.

An amazing academic background, years of experience and stellar performance

4 6 ELITE PROPERTY MANAGER • SEPTEMBER 2018

used to practically guarantee you a step up. Today, though, organisations are increasingly looking for leaders who can balance emotional intelligence with other traditional metrics used to determine leadership potential.

The problem is that there is no ‘EQmeter’ that you can put under your tongue to measure it. So how do you know your level?

You may, in fact, be doing things in everyday life that reflect a high degree of emotional intelligence, contrary to what you think.

Here are nine qualities for starters that

suggest you’d be a better leader than you imagine.

1

YOU BOUNCE BACK FROM HARD KNOCKS

Ever heard anyone say, ‘I come from the school of hard knocks’?

Well, if you’ve had hard knocks in the past and always bounced back, this demonstrates a resilience that is characteristic of most leaders. Strong leaders let nothing stop them on the road they’re following – and they’ve all met failure and plenty of obstacles along the way.

In fact, no one ever achieved success without failure; it’s how you view that failure and react to it that matters.

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YOU WORK HARD AT BUILDING RELATIONSHIPS

Emotionally intelligent leaders know that relationships matter above all else.

That’s why they view every relationship as a learning opportunity and work hard to understand others, form closer bonds with them and help them grow.

You value input and seek to gain insight from others and, in the process, not only make more popular decisions; you also create the goodwill that strong relationships thrive on.

Investing in relationships like this reduces the likelihood of harmful conflict and helps get the best out of others – important aspects of leadership.

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YOU HAVE A COMPASSIONATE EAR

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YOU KNOW YOURSELF AND LIVE YOUR VALUES

Do people turn to you when they have a problem? That can also be a sign that you are a potential leader – because you demonstrate compassion, empathy and can listen to problems.

Conflicts, issues, personal problems, bad days… they’re all part of life. Leaders who want to brush them under the carpet generally end up losing the respect of their team members. People hate their feelings being ignored.

It’s important in leadership to be aware of, and respond to, other people’s emotional states as it shows a deeper understanding of the human experience.

Being able to be yourself and live by your values is a strong sign of emotional intelligence and leadership.

It shows that you understand who you are, what you stand for and what your purpose is. Other people naturally gravitate to those who are authentic, real and live with integrity.

You don’t need to be a great ‘actor’ to be

a leader. There’s no value to being artificial and you don’t need to have an ‘inspirational’ personality. If you live true to your values, you will naturally inspire others to follow you.

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YOU TAKE RESPONSIBILITY FOR YOUR ACTIONS

Did you ever meet a leader who made excuses or pointed their finger at others to cover their tracks?

Any strong and respected leader takes responsibility for their actions. This is also a feature of emotionally intelligent people; because they seek to understand themselves and others, and aim to live according to their values, they are not scared of the truth.

Such people don’t expect perfection in themselves or others and so tend to take responsibility for what they do in everyday life – good or bad. Showing a little human ‘fragility’ with a mistake can even bring leaders closer to team members.

“ORGANISATIONS ARE LOOKING FOR LEADERS WHO CAN BALANCE EMOTIONAL INTELLIGENCE WITH OTHER TRADITIONAL METRICS.”

if it’s unfair in your eyes, it’s a very good sign that you have what it takes.

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YOU HANDLE STRESS WELL

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YOU ENJOY THE COMPANY OF OTHERS

Does life throw you stressful situations pretty often? Are you a port in a storm for others in these situations or does it completely screw you up?

If it’s the former, you have a strong leadership quality that could be borne of many things – but may have emotional intelligence underpinning it.

Because people with EQ adapt well to change, are aware of (and can manage) their own emotions and are confident about the path they’re on, they’re not easily blown off course by the inevitable disruptions to their plans. They see them for what they are: bumps in the road. They don’t panic and are able to stay calm and unflustered.

If you stay cool in pressure situations and are able to make measured decisions when others are losing their heads, you may be a natural born leader.

YOU CAN ACCEPT NEGATIVE FEEDBACK

You are a social being. You enjoy the company of others and love interacting with, having fun with and learning from people. You like making others happy and try to create a welcoming, fun environment.

If this sounds like you, you may have more leadership potential than you imagine.

The best leaders work hard but also know when it’s time to play, and they enjoy doing that with their team. They have a sense of humour and actively seek breaks from the daily grind because they know that people’s lives don’t revolve around their jobs.

Have you dismissed yourself as a leader because you’re not experienced enough, don’t have the ‘numbers on the board’ or are missing the education?

Leadership is about much more than that.

Even if you’re not instantly nodding at the nine qualities described above, it doesn’t count you out. EQ is not simply something you’re born with and have to manage throughout your life. Working on aspects of it can increase your leadership potential.

But you may already have it, despite your doubts! ■

Strong leaders are confident, mature and secure enough to be able to invite feedback from others – and to accept negative feedback in good grace.

If you can do this socially, it places you in good stead to take the step up as it may mean you have the emotional intelligence to handle it in the workplace. If you feel threatened by criticism – maybe not.

Sometimes people love to shoot you down. If you can take that on the chin, even

After starting her career as a lawyer in the UK, Ush Dhanak 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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YOU SEE CHANGE AS AN OPPORTUNITY

Change happens. Leaders can prepare for it and embrace it, or try to repel it.

Most trusted leaders are confident enough to see change as an opportunity rather than a threat. Their emotional intelligence gives them the self-belief and the flexibility to meet change head on – and to help their team do the same.

Your attitude to change says a lot about your leadership potential – especially with millennials, most of whom have grown up with the world changing rapidly around them.

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Q&A

ASK THE PM COACHES To have your property management questions answered by our Real + experts email us askthecoach@eliteagent.com.au.

LAUREN KIRK

KATE BENJAMIN

General Manager, Coach, Consultant & Trainer

Q

I’m a selling principal who doesn’t have the time to spend every minute in my property management department. How can I better support my team?

As leader, your time will always need to be distributed across many areas and you need to wear many hats. When you have an income-generating role as well this can easily take precedence.

Supporting your team doesn’t mean you have to be physically present every day, but it does mean that you need to ensure the time you do spend with them is worthwhile.

Value their time and they will value yours. Be present when you are with them. If you’re racing into the weekly meeting, barking orders and directions and then not appearing again until next week, perhaps there is a better use of your time.

How can you better support your team?

Listen: What’s happening around you and what feedback are your team giving?

Take it on board and act when needed – which is different to reacting all the time!

Feedback from your team is positive.

Improve: Always look for ways to improve and invest in you, your business and your team. However, remember that not everyone likes change – so a well-thought-out plan is needed for any change that will affect your team.

Processes, project planning and clear communication are key.

Connect: Give your time. Whether this is in the form of scheduled one-on-ones or informal daily check-ins, staying connected to your team is the most important thing – especially when things get off track or a little chaotic.

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Coach, Consultant and Trainer

Q A

How do I hold my BDM accountable to get better results?

The first step to holding any team member accountable is being ultraclear on your expectations. What does success look like in their role?

As a leader, determining the success measurement for a BDM starts with identifying what has been achieved up until now and setting a goal that will stretch the BDM, grow the business and is realistically achievable provided the right effort is applied.

For those sales-minded BDM types (myself included), if a growth goal is completely out of reach it will simply act as a demotivator. Involve the BDM in the goal-setting process. Start with your end goal, whether that’s total properties to be gained or an increase in overall revenue, and work backwards through the goal-setting process. Identify the actions that must be taken to achieve

IF A GROWTH GOAL IS COMPLETELY OUT OF REACH IT WILL SIMPLY ACT AS A DEMOTIVATOR. those goals and hit the overall target.

This will include gains, listings, appraisals, calls, connections, dollars and database growth.

The final piece of the puzzle is tracking, monitoring and regular check points.

A successful BDM should be tracking activity daily, weekly and monthly, reporting back to you as the business leader who can then lead and mentor them to further growth.

48 ELITE PROPERTY MANAGER • SEPTEMBER 2018

HEIDI WALKINSHAW Coach, Consultant and Trainer

Q

I have recently been promoted into a team leader role. How do I get to get on top of my time management with the added workload?

Firstly, congratulations on your promotion and jumping into the next phase of your career!

While it can be exciting to begin a new role, it can be daunting as you try to take into account all the new responsibilities it brings.

The first thing is to ensure that you are well organised; with team management you are not only dealing with the challenges of your own portfolio, but also navigating the challenges within your team that are both inward and outward facing.

Take the time to plan your day and try to allow for blockout time when you need to look at the metrics around departmental performance.

Think about regular one-on-ones at least once per month and set up a training plan with your team. This helps ensure they are up to speed with the latest industry knowledge, while a oneon-one provides a platform for your team members to download once a month, plan and reset for the month ahead.

Be aware of the KPIs that are required for each team member and implement a system to track those KPIs that can be discussed in your time together each month.

Don’t forget the law of cause and effect. Your team will model the behaviours that they see in you. Stay positive, manage conflict early and promote an environment of inclusion and transparency to help build rapport and trust. This will lead to a happier team and ultimately happier clients. ■

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