15 years ago, there was no such title as “Business Development Manager or Business Development Officer”, and really – what is the difference between those 2 titles anyway?  Another one I like is Client Services Officer, or New Business Consultant.  These titles are simply that – titles.  In most instances, you can choose which you feel is more appropriate.  However, the role is the same and the end goal is identical: to get new listings for the Property Management department.

Each agency will have different techniques, systems, documents, and procedures for you to follow. But, the best way of advertising your services are often missed and not included in these areas mentioned.  It is free, and adds far more punch to any letter or email.  What is it?

Social media.

The BEST form of adverting and interacting with your audience.  You may think – “yes, I do this, I post on Facebook”, but what you are forgetting is ‘so does everyone else’.  A few tips and tricks for you to follow, to stand out:

  • You MUST think outside the box and be entertaining. A picture of a house and a caption saying “just listed $350 per week perfect for family“is simply not enough these days to catch someone’s eye.  Why not add a picture of a person screaming in joy and jumping in the background with a caption “OMG I found my next home” – the OMG must be eye catching, to make the audience stop and read the post.  Posts like these will take extra time to create but you will generally get 25% more audience attention, and more likes.
  • More likes – Just this week I posted one entertaining item, that wasn’t even about real estate, that had 67 post views. All it took was for 1 person to tag a friend in that post (as she found it funny) and it immediately jumped to 364 views and one of those new viewers also tagged one person and the post had 843 views.  From this post, instantly we had 8 more people “like” our page.  8/843 is not a lot you may think; however it is 8 more than yesterday.
  • Genuine likes – Having grandma and your aunty like your page is fantastic support but ‘are they really your target audience’, you may think. In the Real Estate world – everyone is your target audience, everyone needs a home whether it be to buy or rent, live in or as an investment, holiday home or for a friend – all likes in this industry are genuine.  For BDM’s and salespeople don’t forget to include “agency tenants” as your target audience. These tenants will hopefully eventually buy a home and if you treat them well it will be with you.
  • One person – that is all it takes to generate more audience interaction. Why not ask your staff members to also “like”, share or tag people in your posts?  Remember that Facebook, Instagram, and Linked In all work the same way that any audience interaction takes that particular post to the top of the news feed so if you spread this out throughout the day your post will keep being put to the top of the news feed.
  • Finding people to like your page – This is time consuming, but social media pages have a “search” filter where you can search not only for a person’s name but their email address and mobile phone number. When consulting we advise people to outsource this task, or have a receptionist spend 1 hour per day adding tenants and contacts from their CRM to the social media pages.  In most instances, the person has to accept your request, so if you find someone on a page remember this does not necessarily mean they will accept your offer, but you have at least touched base with them and made them aware that you would like them to keep up to date on agency activity.

Real Strategix have more tips and tricks in relation to social media and gaining new business interaction, plus we also offer assistance in creating your social media images and a complimentary marketing plan if you do not have the time to create them yourself.

Lauren Kropp

Director

Real Strategix

 


Three years ago, you were employed by your agency to run a portfolio of 150 properties and had the title “Property Manager” on your business card.  Many people were looking to change this title to “asset manager”, “people manager”, “counselor” but we still referred to it as Property Manager.

As times have changed, many agencies have resorted to outsourcing their administration tasks.

These tasks include the following:

  • Lease renewals
  • Arrears
  • Application processing
  • Reference checks
  • Scheduling of inspections and sending appropriate forms
  • Entering and arranging maintenance
  • Compliance (smoke alarms, pool management)
  • Arranging open homes including uploading to websites.
  • Sending lease documents and welcome packs
  • Email liaising
  • Client marketing
  • Social media posts
  • Trust accounting

What is left for the “Property Manager” to do?  The only true gap that I see is routine inspections, leasing or viewings and tenant and landlord signups for those who prefer face to face.

If an office was to hire a routine inspection officer or outsource one and a Business Development Manager who could in fact, perform the signups and viewings, this would make the role of the Property Manager obsolete.

I hear a lot of Property Managers complain that they do not get paid enough for the highly stressful job and I concur.

However, if an agency appoints the outsource team and a BDM what will happen to the current annual salary of a Property Manager?

If this were to happen, a Principal has every right to greatly reduce the role and salary of a Property Manager or make them redundant.

Outsourcing is like religion – everyone has an opinion. As the Managing Director of an outsourcing business specialising in trust accounting and temporary recruitment, I have spent a lot of time especially of late writing a “pros and cons” list.

A Principal will LOVE outsourcing if they do not have a strong relationship with their team and sees them purely as an expense.  That may sound harsh but not all employers respect the employee and value the face- to- face concept of their input in the business.

By contracting the services of an offshore Virtual Assistant, they only pay $7 per hour to perform the above tasks compared to $25 per hour for a regular employee.

In some instances, they do not have to pay GST to the contracted worker as the company is owned and operated overseas.  They also do not have to pay super or work cover to the VA.

However, they must make sure their Professional Indemnity Insurance covers the VA. Based on a 38-hour work week, this is a cost savings of $684 in wages plus $65 in super.  This is almost a savings of $39,000 annually!

In a portfolio of 150 properties the Property Manager will generally have an assistant or a routine inspection officer to assist them. Therefore in the above instance, the Property Manager would be made redundant, the routine inspection officer would keep their job and the business would be better off by $39k but what happens to customer service?

The Principal that likes good old fashion customer service, face- to- face conversations and walk- ins will NOT like outsourcing.  But they can see the benefit of paying an additional $39K in wages because they have built a brand and a reputation. Therefore the business should be making up for that $39K and more with new management and growth.

One final negative in offshore outsourcing is the language barrier. The time spent initially outlining and training the VA in procedures and tasks is consuming.

But I can tell you from firsthand experience that if you are fortunate to have a VA that fits your business mould, the initial training is worth it.  We use a VA for our administration tasks but she is restricted from calling our clients due to the language barrier.

Property Managers however will LOVE outsourcing if it makes their life easier and they keep their job.  Therefore, the type of outsourcing suitable for this is a routine inspection officer and/or a trust account specialist.

If the idea of a VA interests you but you are worried about the language barrier, it is possible to outsource to Australian companies.  However, you will pay more than $7 per hour due to Australian minimum clerical award but this will assist the smaller offices who may only want a part time employee to work from home. The training will also be much easier.

I have the best of both worlds. I have a VA in the Philippines for our admin and at Real Strategix, we outsource Australian staff to perform inspections, provide in office temporary recruitment and trust account outsourcing.

Therefore my view as presented above is completely impartial.

Lauren Kropp

Managing Director – Real Strategix

 


We have all seen the show “Undercover Boss”.  There have been two instances over the past year that I have placed myself in the Temp world as an “undercover temp”.

What is it really like to be a temp in a property management department?

Easy you think …. you just come in, do your job, leave at the end of the contract and get paid well.

You are greatly mistaken.

When I first put the feelers out about entering Real Strategix into the recruitment world although I have personally over 15 years’ experience in all aspects of Property Management, trust accounting and consulting, I thought; there is no way I can make my new business venture work unless I “Live it myself.”

It was hard for me to take my consultant hat off and put my “temp” hat on.  What that means is “just do the job Lauren the best way you know how but do not tell them there is a better way as a consultant would”.

The first particular office did not know my background and had just heard through the grapevine that I might be interested in temp work– perfect timing.

My job was doing the lease renewals for three large portfolios which was a full time 4-week position.  During that time, I was seated in an office off to the side where no one really checked on me. I was basically forgotten about.

It was by no means welcoming.

I would hear from reception:

“Who is Lauren?”

“Does anyone know a Lauren?”

To which the office would fill with yells; yes “yells”,

“Nope. Sorry!”

Receptionist would reply,

“Sorry Mr Smith, We don’t have a Lauren that works here.”

It was about now I had to go and introduce myself to Reception.

  • Who hired me? Who was paying me? Where was my induction?  I didn’t even know where the toilets were, the emergency exits or who I was reporting to.
  • Did I have a password? Was I a registered user of the trust accounting software so my “temp” role and notes could be tracked?
  • Did I have a timesheet or could I just leave at the end of the day?
  • Who were the people whose names were on the portfolio that I was doing lease renewals for?
  • Is there a system in place which they want me to follow? Or do I just send the lease with a notice to leave? Do I always do a CMA? Oh… do they use RP Data for this?
  • Who is this horrible woman eyeballing me from across the room? Oh… that is the Property Manager whom I have had to tell the Principal has not actioned lease renewals for the past 4 months and has 130 properties on periodic leases.

This particular role was not stressful just the abuse from the owners wondering why their tenant had not been on a lease for 12 months.

Luckily in this instance I was able to secretly put my consulting hat on and take a very unhappy owner and within 4 days his new lease was returned with a substantial rent increase and he became my best friend.

During my time in this office two people out of 30 introduced themselves to me. After 3 weeks, I was still hidden away and by this stage everyone knew who I was as I had introduced myself and my role.

This is the hardest job of a temp. They are brought into an unfamiliar office for sometimes as short as a week or two as the Property Manager has just walked out. And if that particular Property Manager did not leave notes – all they have to go on is Email searches which are sometimes like reading Nancy Drew novels.

We all know there are good PM’s. I loathe the term “bad” PM’s. Instead, I refer to those as “PMs’ who struggled with the workload”.  But you must realise how difficult it is to have a temp come into your office and pick up the pieces.  I call them Temp Private Investigators.

Don’t get me wrong we have gone to many offices that are what I call “WGT “(We Got This). These are the ones that have the computer passwords set up, the introductions sorted, a list of things to do and the friendly “Thank you Mrs. Temp for coming in and helping us out” attitude.

Please be nice to temps. I know you must show them around and they will be asking you questions about procedures and systems but they are there to help make your life that little bit easier.

And trying to get you to stop at just “one glass” of wine instead of a “bottle” a night.

Undercover temp, over and out……

 

Lauren Kropp

Director Real Strategix


Outsourcing is a word which some Real Estate offices liken to religion – you just would not dare bring it up at the dinner table.

Property Managers are extremely passionate and opinionated. Meanwhile, all of you believe you know the BEST way of doing things or at least a way in which a task could be better managed.

There is no crime in that.  You simply care for the industry and want your office to be successful.  To be successful you have to have systems in place and systems need money. I know firsthand how hard it is to get Principals to open their wallet.  “It will increase productivity, it will increase profits, it will stop me drinking a bottle of wine each night” ….nope…you will still drink the wine but nice try…

Outsourcing costs money.  Many Principals look at outsourcing tasks as YOUR job. The Property Manager does the routines and/or the trust accounting or they employ someone to solely do that role.  I say “get with the times”.

When I began in Property Management in 1997, I would type a lease on carbon copy document with a type writer.  There were no such things as pool or smoke alarm compliance.  A lease was 2 pages long and there was such a thing as a holding deposit.

As times have progressed and legislation is much more comprehensive, agencies have to progress with it.  The demands on staff are just too high and if one thing is forgotten, it will generally cost the agency a minimum of a few hundred dollars to rectify.

Why not appoint specialist to perform these tasks; specialists with their own liabilities and own skills?  Would you ask your husband to install a new kitchen light or your wife to replace the hot water service?

You may think this is a little far-fetched as these types of jobs are done by trades who study for 4 years.  However how many times do we all read articles about the OFT placing agencies into involuntary liquidation or arresting staff for fraud as they have been mismanaging a million-dollar trust account?

One million dollars.

You are responsible for a one million dollar trust account and you allow an unqualified 24-year-old Property Manager to receipt the money and send it to the owners each month?

These tasks need to be outsourced to reputable trained specialists who do this day-in day-out just like an electrician installing lights.  Of course, this will cost your office money. However, it could stop unnecessary problems from occurring in the future. It will also free up the time of the team member who can now focus on what they were employed for which is to Manage the Property.

Protect your asset.

Lauren Kropp

Director Real Strategix.