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

Principals' age doesn't define PM approach

29 July 2014 Elyse Perrau

Age is not a determining factor in how principals approach property management; it is a lack of formal business and management training, according to a real estate agency director.

The comment follows those of a property management director who said younger principals are more likely to take a "hands-on" approach in regards to their property management department.

Fletchers Queensland managing director Christopher Stear said the experience that comes with longevity in a profession should never be discounted, and even as an “oldie” he still has a “thriving property management culture that interfaces brilliantly with sales”.

"Take it from an old guy… it's not the age difference and nor is it about getting tired - it's a lack of formal business and management training,” he told Residential Property Manager.

“[Also] the fact that historically real estate principals have come from a sales background and have not been afforded - or better yet sought - the opportunity in their careers to focus on the realities of running and building a business.

“Untrained and inexperienced people often make dumb or costly business decisions no matter their age,” he added.

Running a successful business, Mr Stear said his company is on top of legislative changes, has increased the profitability of its rent roll significantly and now enjoys great staff and landlord retention.

“From a personal point of view I continue to invest heavily in training for all staff - including sales and admin,” he said.

“I interact with every member of our property management team every day and am fully aware of issues that need to be on my radar.

“But rule number one for our property managers when they have a problem is to come to the table with a solution based on their training, experience and research; not simply to flick the problem up the line,” he added.

Mr Stear said as for the under-payment of staff and a lack of training by some agencies, “that's fodder for our business development managers as we continue to grow our asset base and show owners what real management by happy, educated, professional people is all about - but it's not about age”. 

Principals' age doesn't define PM approach
lawyersweekly logo
FROM THE WEB
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast

Network or independent?

Independent
Network, the bigger the better
Network, but midsized
Niche group, small and agile
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.