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The business case for rent roll growth is compelling to most agencies but as Matt Lahood embarks upon his first 100 days in office at The Agency, property management is high on the agenda as an economic insulator, long-term client funnel and a means of equity sharing with the vested agents. Matt has nothing short of a revolution in mind for the way The Agency will [...]
Most people struggle with questions such as ‘How do you define success?’; ‘Who do I want to become?’; ‘What do I want to experience?’; ‘What assets do I want to accumulate?’
Everyone knows the feeling of having an inner urge to do something that excites you whenever you think of it. But generally, people rarely make that thing happen.
THE IMPORTANCE OF THE RAS – YOUR BRAIN’S COMMAND AND CONTROL CENTRE The brain’s RAS [...]
For many years, I have been presenting at seminars and conferences on the topic of rent roll growth. On several occasions, I have posed the question to a room full of property managers and BDMs: ‘Why should a property investor give you their property to [...]
The moment a stranger sees you, his or her brain is making millions of assumptions and computations. In fact, the human brain takes in 40 pieces of information every second and quickly starts to make sense of the surroundings. Are you friend or foe? Are you someone to approach or to avoid? Are you trustworthy, competent, likeable, confident? Do you have status and authority?
These assumptions are made in the blink of an eye – in the [...]
Technology has come a long way from the first set of bulky computers in your local real estate office. With advancements in technology occurring rapidly, real estate agencies across the country are developing new techniques to streamline services and keep up with emerging trends.
According to the Australian Bureau of Statistics, each Australian spends an average of 10 hours online per week
– with those in younger age brackets spending up to 18 hours on the net every week.
The continued rise of the internet as a primary source of [...]
A few years ago, every lettings agency employed property managers to deal with the basic tasks of managing a portfolio of properties. Many people were looking to change this title to ‘asset manager’, ‘people manager’ or ‘counsellor’, but we still referred to it as property manager.
These tasks traditionally include:Lease renewals Arrears Application [...]
Facilitating the session was Justin Miller, Co-Owner and Property Management Director, who heads up the property management division at RE/MAX Regency on Queensland’s Gold Coast; with panelists Cushla Symons, a licensed real estate agent, experienced trainer and Property Management Team Leader for RE/MAX Regency; and Katie Knight who is widely recognised as one of the best property managers in Australia and owns RE/MAX Success in Toowoomba, [...]
In a statement to Elite Agent on Friday, an Airbnb spokesperson said: “Examining different parts of the market is standard operating procedure, and we don’t have any announcements to make.”
“Airbnb is growing in Australia and New Zealand, as well as right around the world, for the simple reason that our hosts provide guests with a more authentic way to experience places. Overwhelmingly, Airbnb hosts are everyday mums and dads, seniors and young people who occasionally list [...]
Rent’s chief executive Greg Bader said that including the current NBN status for each property listing was in response to demand from renters.
“Our customers have been asking for this. While NBN information is already available via the NBN website, it is a cumbersome process, and no one has the time to check each property individually. What we have done is taken public information and then presented it in a format that is easier to digest for our customers.”
Rent presents the data in two levels of detail, when a renter searches for property in their [...]
There is a requirement in most cases, that in the event of a tenant breaking their lease, that the landlord must take ‘reasonable steps’ to mitigate the tenant’s loss. So, where a tenant breaks their lease before the end of the agreement, they are normally liable to continue to pay rent until a new tenant can be found. Where a tenant stops paying rent, the landlord (property manager) can go to the Tribunal seeking an order for [...]
Rent.com.au’s February report reveals a significant spike in one capital city but a stable median rent across the country. The average metropolitan rent Australia-wide remained consistent at $430/pw.
Of the metro areas, only Adelaide and Darwin recorded a decrease in median rent. Hobart experienced a significant spike of 10 per cent, the [...]
1 DARE TO BE UNTRADITIONAL Raising the bar in 2017 starts with daring to be ‘untraditional’. As you know, clients engage property management agencies to gain better returns and increased capital growth on their properties. As such, all agencies appear to be the same to property investors. So how do you stand out in this market of sameness?
Start providing untraditional services in addition to your traditional service offering. To do this, look to your competitors and identify gaps in their service offering that your agency [...]
When we set out our goals at the beginning of the year, we look at the bigger picture of what we would like to achieve. After that, we start to think about how we are going to get there. However, if we drill down further when we are putting those plans in place, we should be asking ourselves: do we have the systems and processes to make that happen?
In property management, some of the areas that you might like to look at [...]
Firstly, Greg, tells us about your first few months at Rent. How has it been so far? I came into rent.com.au nearly six months ago to look at their strategy. I really wanted to come up with something that was different to the other [...]
There’s just something about picking up a phone to talk to a customer service rep that’s agitating. But why?
Once you’ve searched the company website to find the right number, you inevitably speak to someone who completely fails to understand what you’re saying. You answer questions asked by a real human only to find out you’re not speaking [...]
Let’s face it – everyone wants to grow their rent roll. After all, with growth comes more opportunity for success all round.
In my experience as the owner of a franchise real estate office, and as a successful property management BDM, a lot of real estate companies make really common, crucial mistakes in their attempts to grow their portfolio – many of which I’ll be addressing at the RETG tour in [...]
The average metropolitan rent across Australia spiked up 2.38 per cent at $430/pw in January. Canberra and Hobart metro areas were the only two states to record a decrease in median rent, while all but two of the remaining capitals saw an increase in the month.
An 8.24 per cent increase in asking median rents in [...]
The role of a BDM can be many things, depending on the company structure.
Many businesses over-complicate the role and incorporate too many expectations and KPIs, leaving the BDM lost and uncertain as they fail to achieve expected targets.
To get the most out of your BDM you need to have a clear understanding of the difference between marketing, sales and business development.
Marketing attracts [...]