Powered by MOMENTUM MEDIA
realestatebusiness logo
Powered by MOMENTUM MEDIA
Subscribe to our newsletter SIGN UP

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

news image

REB Awards training and education program finalists revealed

June 03, 2020Reporter

REB is pleased to announce the finalists for the Training and Education Program of the Year category at this year’s REB Awards. ...

REB_top100agents
top 10 agents

1

Alexander Phillips

Year of Experience: 20

Support Staff: 3

Residential Properties Sold: 215

Total Value of Residential Properties Sold:

$ 522,477,791

VIEW COMPLETE REPORT

Have you experienced sexual harassment or bullying in the workplace?

Yes, I've been the victim of sexual harassment (15.8%)
Yes, I've been the victim of workplace bullying (21.1%)
No (63.2%)

Total votes: 19
The voting for this poll has ended on: April 30, 2020
TECH MARKETING SALES BETTER BUSINESS PROPERTY MANAGEMENT
pile documents reb REINSW launches own contract creation tool

A new online program is set to revolutionise the sales process and get properties to market quicker than ever before, ac ...

Gary Flowers reb Yabonza enlists heavyweight to board

Property start-up Yabonza has named a new board chairman to propel the company through its next phase of growth. ...

Neville Pozzi reb REIWA rolls out new ‘digital doorknock’ strate ...

The Real Estate Institute of Western Australia’s longstanding partnership with The Salvation Army is seeing the real e ...

Property technology app smartphone reb App aims to kickstart the real estate market

As the real estate industry continues to adjust to the new norms brought about by the COVID-19 pandemic, an app develop ...

REBA 850x400 ListReady PODCAST: REB Awards Finalist Showcase – Sales A ...

With the Real Estate Business Awards 2020 set to occur as a live broadcast event on Thursday, 25 June at 7pm, we are bri ...

Mark Morrison WEB 2020 REB Business Empowerment Showcase: An innovative p ...

The global pandemic has undeniably presented some challenges for the real estate sector. However, there are still opport ...

Michael Johnson WEB How COVID-19 has been impacting real estate agents ...

In April, Momentum Intelligence conducted a major survey to understand how the coronavirus pandemic has been affecting t ...

Tom Panos 140520 What’s Making Headlines – 14 May 2020

What’s Making Headlines is your new source for all the latest in Australian real estate news. ...

REBA 850x400 ListReady PODCAST: REB Awards Finalist Showcase – Sales A ...

With the Real Estate Business Awards 2020 set to occur as a live broadcast event on Thursday, 25 June at 7pm, we are bri ...

Mark Morrison WEB 2020 REB Business Empowerment Showcase: An innovative p ...

The global pandemic has undeniably presented some challenges for the real estate sector. However, there are still opport ...

Michael Johnson WEB How COVID-19 has been impacting real estate agents ...

In April, Momentum Intelligence conducted a major survey to understand how the coronavirus pandemic has been affecting t ...

Tom Panos 140520 What’s Making Headlines – 14 May 2020

What’s Making Headlines is your new source for all the latest in Australian real estate news. ...

Positive Mindset in Business reb The impact of a positive mindset in the business o ...

Let’s be real: running a business or an office is stressful. Here’s a quick rundown of some insights on keeping yo ...

Cameron Black reb Lies and statistics: Has the property market actua ...

It seems like there has been a huge change of sentiment in the last month as a confluence of factors has come together t ...

short 850x400 june2019 How to get that big win

Getting a big win is more than just sales. It involves strategic planning and setting goals, according to real estate bu ...

MeganSmith 050719 cropped Ray White’s Megan Smith sells $14m property in B ...

Ray White Balmain sales dynamo Megan Smith has sold one of the most expensive houses in Australia this year, with the pr ...

Perth aerial new reb WA kicks off COVID-19 commercial code

A new commercial lease code of conduct will help Western Australia’s commercial tenants and landlords reach rental agr ...

Clayton Howes reb ‘Pay later’ solution launched for landlords

A new solution has been rolled out to Australian landlords, enabling them, agents and property managers to better manag ...

property realestate reb ‘Earlier than expected’ recovery pinpointed fo ...

In what marks good news for property managers, a real estate group says some positive signs are beginning to emerge with ...

housing properties reb New projects to enable better housing policy decis ...

The Australian Housing and Urban Research Institute (AHURI) is undertaking several priority research projects which aim ...

EVENTS
REBAWARDS Listready
Real Estate Business Awards 2020

The REB Awards is the benchmark of success in the Australian real estate industry. It reflects not only the business astuteness of the country’s leading real estate operators and networks..

Learn more >
FROM THE WEB
Recommended by Spike Native Network
Do you have an industry update?
rpm logo latest

7 reasons why property managers leave

23 March 2016 Darren Hunter

Where have all the property managers gone?

I remember another trainer joked: “They’re all living in a mental asylum on the Nullarbor Plain and if you get close you can hear them screaming, ‘They didn’t care about me!’”

There’s too much truth to this joke!

More and more PMs are leaving the industry – faster than they are being recruited – and it’s well known that it’s difficult (if not near-impossible) to find an experienced, competent PM when needed.

Advertisement
Advertisement

So here are seven compelling reasons why I believe PMs leave. It's my hope that these reasons will wake the industry up.

These keys, of course, are not relevant to all businesses, but I believe that more than 50 per cent of PMs would be able to relate to some or all of the following:

1 – Stress from overwork and burnout

Possibly the biggest factor of all is the stressful nature of the job. Add to that the bad habits of poor time management and not maintaining checklists and procedures, and it all snowballs into something that’s unsustainable.

Most PMs work well above their 37.5-hour week, and rarely take lunch breaks as they are seen as interruptions to the job. Thus, they end up with an imbalanced life and suffer burnouts and disillusionment – and resignation soon follows.

2 – Lack of management accountability

In few industries are two distinct and different businesses run under the same roof, as focusing on one at the expense of the other often results in one business thriving while the second struggles.

A lack of accountability and focus means issues are not resolved, processes are not improved and the business barely keeps its head above water. While chaos is the norm, problems will always exist and staff turnover will be high. 

3- Lack of value from the boss

I recently had a meeting with a PM whose boss made it clear to the sales team that it didn't matter if they referred property management clients to other agencies. Yes, you heard correctly – direct the business elsewhere!

This is an extreme situation and not the norm, but when one aspect of the business is valued over another, just because it is better-liked or more familiar, the latter naturally ends up in trouble. Both aspects are important and serve the company: rentals provide the business with a saleable asset and continuous cash flow, and the keep the company protected financially when sales are down. Sales should be the 'cream' income and bonus money, as all overheads are paid by property management.

4 – Lack of opportunities for promotion

Most rent rolls are small in staff size, so the opportunity to be elevated to a position like department manager is limited. The most common position a person will be elevated to is that of PM. People who want to grow and take advantage of better career opportunities often opt for another industry.

5 – Poor pay and rewards

Let’s face it, PMs are never paid overtime, though they do plenty of it. Most never take a lunch break and their salaries do not reflect the hours they work or the pressure, the responsibility and the risks they are exposed to every day.

Unless you have a passion for the role, you quickly realise that other industries offer better pay with less responsibility.

Additionally, when rewards and bonuses are structured only towards new growth, neglecting the rest of the business, they don’t tend to motivate PMs like they should.

6 – Lack of resources

Property management is known as a place of old and outdated technology, either because department fee income levels are too low to provide new equipment, or because bosses focus too heavily on sales and neglect their rental business. This means that PMs struggle along with old technology and a lack of training, slowing them down and making their role more difficult. This also leads to burnouts.

7 – Too many difficult clients

I’ve always maintained that a ‘C-Class landlord’ who is over-demanding and unreasonable, wants sky-high rents and low fees and won’t fix the property is like a pack of cigarettes, and will take years off the life of a PM.

They can upset staff and are just plain bad for business. I feel they are a big factor that makes the job unpleasant, leading to more resignations.

A good boss is quick to listen to staff and wants to ‘let go’ of bad owners. This wins the respect of staff because it shows that the boss cares.

Good property managers are now waking up

I believe the above seven reasons are compelling and have the potential to change the face of the industry over the next 10 years.

The point is that good PMs are now waking up and want to work for bosses that share their values.

Bosses always get the staff they deserve: good, bad or otherwise!

7 reasons why property managers leave
DarrenHunter
lawyersweekly logo
darren-hunter

darren-hunter

Trainer – LPMA

Darren Hunter is a national and international property management trainer, speaker, consultant and authority on property management fees, and income maximisation strategies all designed to grow your rent roll profit, without extra rent roll growth required.
A consultant and trainer now for over seven years, Darren has previously worked as the state property manager with one of Australia’s most respected real estate brands recruiting, training, implementing policies and procedures and managing 28 property managers in 18 regional offices over South Australia and the Northern Territory. Darren has presented for the Real Estate Institutes in WA, SA, NT and TAS and has presented at the Leading Property Managers of Australia Forums(LPMA) in 2007, 2008, 2009, 2010, 2011 and 2012

FROM THE WEB
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
Do you have an industry update?
REAL ESTATE BUSINESS NEWSLETTER
Ensure you never miss an issue of the Real Estate Business Bulletin. Enter your email to receive the latest real estate advice and tools to help you sell.