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

Property managers ‘most underpaid in the industry’

25 June 2014 Andrew Jennings & Elyse Perrau

One of the country's top property managers has backed calls for agency principals to place increased importance on the property management division of their portfolio.

The call comes after one real estate director said principals were overlooking the value of property management and it should not continue to be viewed as the "poor cousin" of sales.

Ramsy Batshon, of Raine&Horne Double Bay/Bondi Beach, a finalist in this year’s REB Awards for Property Manager of the Year (metro), agrees that agency principals need to reward property managers appropriately for the workload they’re undertaking and for the dollars they're bringing in.

“When it comes to property management, the industry is slowly starting to understand it's the most important part of the real estate business,” said Mr Batshon.

"Are we underpaid? Yes, we’re probably the most under paid in the industry. It hasn't been recognised how much work we actually put in to keep the [agency] portfolio going,” he added.

Mr Batshon said a lot of principals will continue to be completely sales orientated, but some are now starting to look more closely at the property management side of their business.

"They are realising that's where their money is coming from, that’s what is keeping them afloat,” he said.

"It is a very stressful and demanding job, so to find the right property manager with the right skill set you’re going to have to pay the money,” added Mr Batshon.

He believes that along with the appropriate remuneration for the workload they're putting in, adequate training is also paramount for property managers to remain in the industry and succeed.

"The biggest thing with principals focused on sales is the need to change their mindset. They need to take more consideration of training, in providing education to property managers, and by doing that they will come out with a better portfolio," said Mr Batshon. 

Property managers ‘most underpaid in the industry’
lawyersweekly logo
FROM THE WEB
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast

What is the worst mistake vendors make?

Price too high
Taking low offers too personally
Neglecting curb appeal
Not ‘staging’ the home for sale
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.