Why you need the right foun­da­tions for growth

THE PROP­ERTY MAN­AGE­MENT pro­fes­sion is chang­ing, and of­fice prin­ci­pals are look­ing to grow in or­der to pro­tect their com­pany. Mal­com Ri­ley looks at the way prop­erty man­age­ment is evolv­ing to be the main­stay of many real es­tate busi­nesses.

Elite Property Manager - - First Person - Mal­com Ri­ley

• Do I have the right team in

place? • Do I have the right soft­ware

and tech­nol­ogy in place? • Can our web­site han­dle the

traf­fic? • Are we cur­rently pro­duc­tive

as a depart­ment? • Can we do things bet­ter

than we are cur­rently do­ing? • Has the of­fice enough space

to al­low us to grow? • Are we net­work­ing be­tween sales and PM de­part­ments? The bot­tom line is you won’t grow the num­bers if you don’t have the cor­rect foun­da­tion in place first. Too many of­fices spend mar­ket­ing money on an in­stant grab for new man­age­ments with­out the proper plan­ning. For ex­am­ple, who is your mar­ket? Let’s re­search that target mar­ket and plan on how to reach them.

With one com­pany I trained re­cently we dis­cov­ered, af­ter much re­search, that they were deal­ing with mainly non-English speak­ing clients, or clients who have poor English. We there­fore up­dated the BDM list­ing kit to read in dif­fer­ent lan­guages. The re­sult has been an in­crease in busi­ness in this seg­ment of the mar­ket.

I be­lieve we are head­ing for a huge change in prop­erty man­age­ment in 2017. How­ever, don’t feel alarmed as I see this as ex­cit­ing! Al­ways re­mem­ber, knowl­edge is power. You will be able to po­si­tion your depart­ment to thrive by be­ing aware of what is com­ing.

My ex­pe­ri­ence is that to grow it is al­most im­pos­si­ble to do it alone. ■

Newspapers in English

Newspapers from Australia

© PressReader. All rights reserved.