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.
• 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. ■