ASK THE COACHES
Our three expert property management coaches answer your questions on team leadership, BDM prospecting and how to prepare for Tribunal.
Lauren Kirk, Heidi Walkinshaw, Kate Benjamin
Q. My team are all at different stages of their careers. How do I keep them motivated and incentivised? As you look at your team, I have no doubt that it is made up of a range of personalities, ages, experience levels, skill sets and generations. As a leader of a multi-generational team, it’s important to recognise that everyone in your business will be driven differently. Motivation and what success looks likes changes from person to person. This will probably differ greatly from your ideas as well!
So you need to move away from the cookie-cutter approach of incentives and rewards to ensure optimal performance from each member of your team. To keep motivation levels high, you need to offer something that connects to the individual.
Find what really drives each individual, what they thrive on and what they want their career to look like. What will really incentivise them to achieve these goals? It’s not always money. Perhaps it’s an investment in training and education, flexibility or additional holidays? Maybe you need to create an environment that fosters mentoring among the team, to take advantage of the different skill sets and experience.
Of course each year, as you get older, your team quite possibly gets ‘younger’, which means you will need to continue to think of new ways that you can help motivate and incentivise them to reach their success. - Lauren Kirk, General Manager, Coach, Consultant and Trainer
Q. When is the best time of the day and week to prospect? Firstly, if you are serious about rent roll growth – every day! Full-time BDMs need to be cultivating new leads and working their database every day of every week. Secondly, when we are looking at what time of the day is best and how much time you should be spending, consider this:
What source will you be prospecting? Often, buyer follow-up and OFI prospecting are better done later in this week, such as on Thursdays. This is because Monday and Tuesdays are generally when the sales team are following up their weekend open homes, and overloading potential clients with calls can start you off on the wrong foot. Mondays have proven a good day for database calls and current client prospecting. In most jobs, Mondays are a busy start to the week, so kicking off your calls with those clients who already know you is an effective way to make sure your connection rate is high.
Morning vs afternoon prospecting – getting the job done early has huge benefits! Prospecting in the morning gives you the added advantage of having your calls done and dusted, without the risk of conflicting priorities interrupting your results. The afternoon and evening, however, quite often allow for higher call to connection rates and are great times for second round callbacks.
To get the best results, schedule in morning sessions, identify which sources you will be focusing on and make sure these are blocked out in your calendar. In addition, allow for several afternoon or evening sessions for follow-up calls.
Most importantly, track what works for you based on your market, investor profile and personal energy. Once you start religiously tracking your calls, connections and appointments, you will be able to identify the best times throughout the week to talk to the most people and get the best results. - Kate Benjamin, Coach, Consultant and Trainer
Q. The thought of Tribunal and the process is daunting. How can I be more prepared? One of the first things to remember is to breathe. Tribunal is one of those areas in property management that can prove challenging and often is entwined with an element of stress.
One way of reducing that stress is your level of preparation. Being well prepared will help you maintain composure and ultimately assist in achieving the best possible outcome for your client.
A few key steps that you might consider to ensure you are organised and ready to tackle any challenges coming your way include:
Always have landlord’s approval when making the application and have a discussion around what their ideal outcome may be.
There are usually jurisdictions around the types of hearings that courts can hear and in some cases there may even be a monetary limit. It is wise to check that you are applying to the correct court and specify the orders that you are seeking in a factual manner.
Prepare your documentation straightaway, where possible including all evidence, a chronology of events and a summary of the issues relating to the case. Don’t leave it to the last minute as it can be a mad scramble the morning of the hearing.
Refer to management agency agreements and residential tenancy agreements for the required information.
Ensure that your landlord is on standby for any information that you may need to communicate on the day of the hearing.
If you would also like a checklist of what to prepare, contact the team at Real+.
Above all, remain calm, be thorough with your information and good luck!
- Heidi Walkinshaw, Coach, Consultant and Trainer
To have your question answered email askthecoach@eliteagent. com.au.