GAME CHANGER Jo-Anne Oliv­eri

Back for a third year, ire­viloution’s An­nual Lead­er­ship of Prin­ci­pals and Prop­erty Pro­fes­sion­als Sum­mit (ALPPPS) as usual helped its at­ten­dees ‘move moun­tains’. Con­fer­ence Founder Jo-Anne Oliv­eri shares her top five take­aways.

Elite Property Manager - - Contents - JO-ANNE OLIV­ERI, CIPS, TRC, is the Founder and Man­ag­ing Di­rec­tor of PM busi­ness so­lu­tions com­pany ire­viloution in­tel­li­gence. For more in­for­ma­tion visit ire­viloution.com.

1 PIN­NA­CLE OF SUC­CESS

To reach the pin­na­cle of suc­cess, you must be pre­pared for the climb. Start by get­ting a ‘prog­no­sis’ done on your prop­erty man­age­ment busi­ness to as­sess its cur­rent state and de­ter­mine how you can im­prove its over­all health.

Next, you must map your course – iden­tify where you want your busi­ness to go in the next three to five years. This helps de­ter­mine ad­di­tional train­ing you and your team must un­der­take to fill knowl­edge and skill gaps.

Men­tors should also ac­com­pany you on your jour­ney. Th­ese are the ones who keep you mo­ti­vated and mov­ing de­spite the chal­lenges. Reach­ing the pin­na­cle of suc­cess in your prop­erty man­age­ment busi­ness is about prepa­ra­tion, per­se­ver­ance and per­sis­tence.

2 IN­TER­NET OF THINGS

The In­ter­net of Things (IoT) will change the way we work in prop­erty man­age­ment, and the in­dus­try should see this as an op­por­tu­nity. IoT will en­able any­thing in a prop­erty to be mon­i­tored, con­trolled and monetised. As a re­sult, it pro­vides new ways for prop­erty man­agers to en­hance rev­enue yields from their clients’ in­vest­ment prop­er­ties.

IoT will also im­prove the land­lord’s ex­pe­ri­ence, re­duce cus­tomer ser­vice re­quests, cut cap­i­tal ex­pen­di­ture, en­hance in­vest­ment prop­erty rev­enue and give ten­ants a life­style un­en­cum­bered by main­te­nance is­sues. This tech­no­log­i­cal ad­vance­ment should be em­braced by prin­ci­pals and prop­erty man­agers if they want to re­main rel­e­vant and vi­able in this chang­ing econ­omy.

3 AI AND CHAT­BOTS

Ar­ti­fi­cial In­tel­li­gence (AI) and chat­bots could soon help prop­erty man­agers be more pro­duc­tive and prin­ci­pals more prof­itable. Th­ese mes­sag­ing ca­pa­bil­i­ties could re­place tasks such as cus­tomer ser­vice re­sponse, lease re­newals, main­te­nance pro­ce­dures, work or­ders, rev­enue pro­tec­tion, col­lec­tions and ad­min­is­tra­tion, in­sur­ance claim prepa­ra­tion and advertising. If th­ese tasks were done by a ro­botic agent, the cost of pro­vid­ing th­ese ser­vices to land­lords and ten­ants would be near zero mar­ginal cost, with scale.

As such, th­ese tech­nolo­gies are an op­por­tu­nity for prin­ci­pals to take their prop­erty man­age­ment busi­ness to the next level. Along­side prop­erty man­agers, AI and chat­bots could help im­prove the ser­vice ex­pe­ri­ence, deal with more clients, im­prove yields, pro­vide more ser­vices and cre­ate more types of prop­erty rev­enue.

4 MAX­IMIS­ING LEAD­ER­SHIP

If in­dus­try lead­ers de­fine their ex­pec­ta­tions for suc­cess, they can over­come any ob­sta­cles and turn chal­lenges into op­por­tu­ni­ties. Know­ing what you want your prop­erty man­age­ment busi­ness to achieve, in­clud­ing growth, profit and team, al­lows you to fo­cus on ac­com­plish­ing it.

Busi­ness con­sul­tant Steve Rodgers demon­strated this in his ‘Lead to Gold’ for­mula for max­imis­ing lead­er­ship and suc­cess. The three­step for­mula be­gins with Tran­si­tion – com­mit­ting to change, Trans­form – de­sign­ing and im­ple­ment­ing sys­tems al­low­ing change to hap­pen, and fi­nally Evolve – achiev­ing your de­sired changes.

5 MOV­ING MOUN­TAINS

The great­est chal­lenge for prin­ci­pals aiming to move moun­tains in their prop­erty man­age­ment busi­ness is over­com­ing the un­ex­pected land­slides a grow­ing busi­ness nat­u­rally cre­ates. To over­come th­ese chal­lenges, prin­ci­pals must slow down to speed up. This means de­sign­ing a plan for growth and mak­ing sure you ex­e­cute it fully.

Since change is a process, you should set ex­pec­ta­tions with your team about the steps, time and en­ergy in­volved. This helps de­ter­mine where you cur­rently are in the process, and which steps you need to take next. Slowly but surely, this process will move moun­tains in your prop­erty man­age­ment busi­ness.

This year’s ALPPPS in­spired in­dus­try lead­ers to ac­com­plish spec­tac­u­lar re­sults us­ing peak lead­er­ship, busi­ness and tech­nol­ogy strate­gies and tools. Make this the year you #move­moun­tains in your prop­erty man­age­ment busi­ness or ca­reer. ■

THE IN­TER­NET OF THINGS (IOT) WILL EN­ABLE ANY­THING IN A PROP­ERTY TO BE MON­I­TORED, CON­TROLLED AND MONETISED.

Jo-Anne Oliv­eri

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