FROM THE GUEST ED­I­TOR

Natalie Hast­ings, Hast­ings + Co

Elite Property Manager - - Contents - NATALIE HAST­INGS

DO YOU RE­MEM­BER that

mo­ment? Un­doubt­edly, ‘that mo­ment’ is dif­fer­ent for ev­ery­one. For prin­ci­pals who’ve cho­sen to go in­de­pen­dent with their own brand, it could be the mo­ment they saw their fresh brand sig­nage be­ing put up. For sales agents, it could be see­ing their name on a ‘For Sale’ board for the very first time. For prop­erty man­agers, it might be win­ning that very first man­age­ment to add to the rent roll.

‘That mo­ment’ has come to ev­ery­one who works in real es­tate, as it’s a vo­ca­tion sprung from to­tal pas­sion and en­ergy. As the years go by, though, it’s easy to lose sight of what drew you to excellence, and to build your ca­reer in real es­tate.

This is par­tic­u­larly so when you are a prin­ci­pal, di­vorced from the rough-and-tum­ble of daily prospect­ing and the ec­stasy of win­ning new busi­ness. In­stead, you may be in­creas­ingly buried un­der pa­per­work and busy ‘putting out fires’. The light of in­spi­ra­tion has gone out from your eyes, and like a trau­ma­tised char­ac­ter from Apoca­lypse Now you’re start­ing to see spectres where none loomed be­fore.

You cease to see staff as pow­er­houses of po­ten­tial growth for your busi­ness, and in­stead they ap­pear as li­a­bil­i­ties be­yond your con­trol. Rather than looking at new ways to im­prove your busi­ness with mar­ket­ing in­no­va­tion (AKA try­ing some­thing new), you stick to the same ol’ same ol’. It worked in the past, didn’t it?

Warn­ing! You are now en­ter­ing real es­tate en­tropy, the land of the walk­ing dead. Of course we un­der­stand how you got there – any­one who has been in prop­erty long enough has felt the un­der­tow and over­whelm of com­pli­ance and the day-to­day run­ning of an agency threaten them fi­nan­cially, emo­tion­ally and phys­i­cally.

What isn’t un­der­stand­able about these cir­cum­stances, how­ever, is be­com­ing

bel­liger­ent and neg­li­gent; let­ting your busi­ness sink into the mire of for­got­ten agen­cies, be­fore des­per­ately looking for a pur­chaser to buy your ren­troll. If you’re in deep, the only way to get out is to keep go­ing.

From my years as a trust ac­coun­tant, pro­vid­ing train­ing and sup­port for Aus­tralia’s es­tate agen­cies small and large, I know that with the right sup­port and a de­sire to look to the fu­ture you’ll soon be out of the dol­drums and close to feel­ing that mo­ment again. Now is the time to build upon the ex­pe­ri­ence and rock-solid ser­vice of your ex­ist­ing busi­ness, en­hanc­ing it where it needs pol­ish­ing and im­prove­ment with outsourced, ex­pert ser­vices.

Real es­tate agen­cies are in­cred­i­bly costly op­er­a­tions to run in terms of staffing and com­pli­ance – and don’t even get me started on in­sur­ance and tech­nol­ogy! Out­sourc­ing to ex­perts who un­der­stand the real es­tate cat­e­gory and its unique con­cerns makes sense in more ways than one. They can im­me­di­ately plug gaps in your ser­vice of­fer­ing, im­prov­ing your client ex­pe­ri­ences and mak­ing you com­pli­ant.

Take outsourced trust ac­count­ing ser­vices, for ex­am­ple: rather than the ex­pense and worry of vet­ting and re­cruit­ing for an em­ployee, with all the con­tracts and re­spon­si­bil­i­ties for­mal em­ploy­ment brings, look to a spe­cial­ist outsourced ac­count­ing firm (like hast­ings + co) to bal­ance your books, pay your own­ers, your sup­pli­ers and even run pay­roll for your busi­ness.

Ac­count­ing within real es­tate agen­cies is com­plex and full of po­ten­tial com­pli­ance pit­falls for well-mean­ing yet ill-in­formed or time-poor prin­ci­pals. If you don’t have the skills to over­see trust-ac­count­ing within your own busi­ness, out­sourc­ing is a good idea. That’s one – very sub­stan­tial – worry off your over­stuffed prin­ci­pal plate.

Other cat­e­gories of ex­per­tise worth out­sourc­ing in the name of get­ting your real es­tate mojo back in­clude in­spir­ing coach­ing and train­ing to in­fuse you and your or­gan­i­sa­tion with fresh en­ergy and new per­spec­tives on de­liv­er­ing ex­cep­tional, tongues-wag­ging real es­tate ser­vice in your catch­ment area. Stymied about so­cial me­dia and wor­ried about neg­a­tive feedback online? Out­sourc­ing to a so­cial me­dia and dig­i­tal strat­egy ex­pert who can as­sist your agency to de­liver a fully-re­alised and in­tel­li­gent, on-brand mes­sage is also a wise de­ci­sion. Let’s be real: com­mu­ni­ca­tions and graphic de­sign are rarely skills that your prop­erty man­ager or sales agent is skilled enough to de­ploy on your busi­ness’ be­half in the way that dig­i­tal me­dia de­mands.

It’s ab­so­lutely nor­mal, at times, to feel unin­spired, flat or even over­whelmed in the face of the real es­tate in­dus­try’s re­lent­less change. What’s not nor­mal is to give up and ad­mit de­feat: of­ten the very things you feel in­ca­pable of de­liv­er­ing are just a re­li­able, outsourced ser­vice provider away. Doesn’t that put a spring in your step?

IT’S AB­SO­LUTELY NOR­MAL TO FEEL UNIN­SPIRED, FLAT OR EVEN OVER­WHELMED IN THE FACE OF THE REAL ES­TATE IN­DUS­TRY’S RE­LENT­LESS CHANGE. WHAT’S NOT NOR­MAL IS TO GIVE UP AND AD­MIT DE­FEAT.

Newspapers in English

Newspapers from Australia

© PressReader. All rights reserved.