All too often, we hear about property managers who have been in the industry for a long period of time and who have lost their drive and passion for the property management industry, Jaala Cusack writes.
Blogger: Jaala Cusack, principal Latham Cusack Property Services
Think about why you first became a property manager. Was it because of a true desire to be the best asset manager that you could be? Perhaps you had experienced poor service in the past and thought that you could do better or was it simply as a stepping stone to a sales role and associated commissions?
Property managers are a different breed and successful property managers require a specific skill set. The job takes time, it takes flexibility, organisation, decisiveness and it takes dedication. Many agents and BDMs (Business Development Managers) are slashing fees in order to attract enough numbers of new managements to reach their KPI totals. Remember, 80 per cent of your time may be spent on 20 per cent of your landlords and properties. You need to offer a supreme level of service and have a proven track record in order to attract and retain quality properties at fee levels suitable to maintain a professional agency.
Once you have these listings, it is important to build long lasting relationships with the landlords and tenants alike. Remember, today’s tenants, may become tomorrow’s landlords.
We pride ourselves on our attention to detail. Without giving too much away, our key focus is to go above and beyond what our clients generally expect of us.
For example, we offer longer inspection times, show our properties outside of standard operating hours and in some situations, add some styling touches to our vacant properties to better ‘dress’ them.
This extra attention and care does get recognised by clients so ensure that you take the opportunity to request testimonials from them when they indicate their appreciation for the job you’ve done. There is a great deal of power in a strong testimonial today, it is evident that some will go to any length to achieve this. A recent publication by NSW Fair Trading warned businesses to remove fake testimonials or risk fines of up to $16,500 (see http://www.rebonline.com.au/breaking-news/6247-government-crackdown-on-fake-testimonials).
If you are providing impeccable service and building a name synonymous with strong ethics and true results, you will not need to be writing fake testimonials in order to attract quality new business.
It is important to set and meet expectations. However it is truly rewarding to exceed these.
About Jaala Cusack
Jaala Cusack started her real estate career as a Property Officer in Queensland before taking on the role of Property Manager. Relocating to Sydney in 2006, Jaala and her husband purchased a property on the Lower North Shore and have thoroughly enjoyed the vibrant surroundings and features the area has to offer.
Working for a Lower North Shore agency, Jaala meticulously managed a newly created and growing portfolio of high-end properties. She excelled in choosing the right tenants for the right property and coordinating negotiations of preliminary offers to achieve the best possible result for the owner. Recognising that prestige rentals required a specialised level of service and a more pro-active style of management, Jaala was able to more than double the number of high-end rental properties in her portfolio within just one year.