A property manager has said the “dog-eat-dog” discounting world of metropolitan cities is not nearly as rife in regional areas.
Raine&Horne Byron Bay residential property manager Gai Mason, a finalist in this year’s REB Awards for Property Manager of the Year (regional), said there is no doubt the property management industry can be tough.
“But I think for me being here in Byron, I am a little bit fortunate [because] having come from a Sydney market prior, it is dog-eat-dog and everybody is trying to cut everyone off for commission,” she told Residential Property Manager.
“We all respect each other’s industry up here and I don’t want to be undercutting you because it is not going to be doing my business any good."
“I am not having to discount my fees because I am not finding that people are saying 'Down the road is going to give it to me cheaper',” she added.
Ms Mason said it is also interesting to note that she doesn’t find any landlords asking for a discounted price in her area.
“Which is really strange because, like I said, I am from the Sydney market where you have got people saying ‘Well I can get it at four per cent or five per cent down the road’ and then if I want to get the business I am going to have to cut mine as well,” she said.
“[However] that is the city market, but here you very rarely come across anyone asking for discounts."
“They look at the property management agreements and they are quite happy to sign it full tilt,” she added.
Ms Mason said she is finding that everyone respects one another in her regional area.
“We are not trying to cut one another’s throats to get the business. Certainly everybody hasn’t got together … I am just not seeing that dog-eat-dog attitude from other managers,” she said.
Jellis Craig Doncaster senior property manager Mark Hewett, also a finalist in the REB Awards for Property Manager of the Year (metro), said in his area it has been a real “arm wrestle” to secure business, with many dropping their fees to get ahead.
“It is the first things managers are doing as opposed to trying to add value elsewhere and show the clients there is other value going with someone who knows what they are doing,” he said.