Author Archive

Refresh Skills

Whether you’re a new starter or veteran to the Real Estate industry, you will quickly see there is a vast array of skill sets required to be successful in Real Estate. Of course as we sadly know, knowledge fades over time. Our brains can sometimes be better at dumping information we don’t need, compared to compartmentalising and categorising these useful facts we acquire. One of the best ways we have of showing our brain which information is still useful, is by using it! One can easily think of the amount of knowledge you have forgotten from school, which isn’t necessarily complicated, and could be useful.

What this means for our teams and ourselves is that most of us need a review of important concepts, and our fundamental skills from time to time. And this is where refresher learning sessions come in.

When we do this in a team environment, we have a number of additional benefits (apart from strengthening your own skill set) including; Team bonding, long-term memory improvement, reducing mistakes, building efficiency, creates consistency, and it can create discussions on the way we do things now, can it be done a better way?

That’s why it’s important to start with a strong “why.” Give your team members a good reason as to why you want to refresh some skills, and they’ll be more committed. And if they understand the reasoning and are enthusiastic about the course, they’ll be more successful in taking it as well.

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2020 Lessons

Charles Darwin said it best in, “It is not the strongest of the species that survives, it is the one that is the most adaptable to change”. Over 2020 Property Management businesses across the country (and world) have been forced to adapt to change. Some of this change was frustrating in the form of restricted ability to physically show property and serve our clients. However, the majority of this change has been embraced in hindsight.

We have seen businesses who have been forced into using technology to operate including; cloud based systems, video conferencing, assisted inspection processes. From this over 2020 many have been able to see the benefits of having their team members be flexible in their work location. We noticed this year businesses who took on new technology did so primarily from a particular requirement rather than following the pack on a trend or being impressed by the latest shinny new toy shown at a conference.

Property Managers who rapidly adjusted their processes to be compliant to new legislation as a result of the changing landscape were able to provide a greater amount of value to their clients through their support, knowledge, guidance, and leadership. With this, over the last 9 months, Property Managers have had a greater ability to show their true value to Landlords and Tenants, as disputes grew and the skill set of problem solving became vital.

With all this speed of change, the pressure put upon Property Managers also grew at a similar speed. The way businesses embrace the importance of the mental health of their Property Managers was directly linked to the service that business was able to provide to clients. This is now constantly being seen more as a requirement for businesses to review and take notice of, rather than an after thought when staff turnover transpires.

Recently Fiona, Heidi, and Joshua came together to discuss the events of 2020 and lessons taken over the course of the year. To watch the replay, head over to www.realpluscommunity.com.au

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Planning for 2021

As we approach the end of an enormous year, it is a great time to review your personal professional development plan. Such as the old saying goes, “If you fail to plan, you plan to fail”.

A personal professional development plan can come in many different forms and will provide a framework to support you identify the areas of your strengths and weaknesses, and come up with action points to help for your improvement.

Taking a moment at the end of the year, quarter, month, to reflect on the past period can help you use the benefit of hindsight. It gives you a chance to take a snapshot of where you are standing at the time based on where you want to be standing. This then allows you to reset the plan. Has the goal post changed, and is your target now higher/lower, or somewhere completely different? Taking into account what you have learnt through the perspective of hindsight, will you adjust your future plan differently?

Throughout work and life we are always learning, constantly. Development is a progressive process in everybody’s life. When you create your personal professional development plan, it can provide you with that time for self-reflection. It should actually be an open door for you to inspect what are the opportunities you can work on that are really going to help you succeed and really do something about it.

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Moving into a New Portfolio

One of the interesting elements of a career in Real Estate, and Property Management in particular is the importance of market and client knowledge. As an example, if a plumber, lawyer, mechanic was to move from one organisation to another, they will be able to pick up from where they left off much faster compared to someone in the Real Estate industry. We absolutely have many elements of technical knowledge which can carried with us; however, a large element of our roles relates to an in-depth knowledge of the properties and clients we deal with.

When I see a top performing Property Manager out of their office and moved them into a similar office 50km’s away they will go through a challenging journey to get back up to the same level of performance they were previously at. If you are moving into a new portfolio, it is important to have a structure plan in your approach to this. Setting yourself, and the business realistic goals about what will be achieved in the first 30, 60, 90 days will help keep you on track and motivated during this journey. Think about what you would like to achieve during this period, and then how will you prioritise these tasks.

For anyone in this transition, we have a number of resources available at www.realpluscommunity.com.au

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Walking in the Shoes of your Landlord

It can be challenging to get a true understanding of what each individual client needs. Even with the correct processes in place, there is not a one size fits all solution for your investor clients.

Getting a clear picture of client needs come down to putting yourself in their shoes. This can mean delving into and understanding the investor type that you are dealing with as well as uncovering the true cost of owning an investment. As the need to focus on the client and meeting their expectations continues in importance, its time to take a step outside the PM world and look at investment from the landlords point of view

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