Ensure you never miss an issue of the
real estate business bulletin
PMs can learn lessons from McDonalds and Starbucks

PMs can learn lessons from McDonalds and Starbucks

by Lara Bullock 0 comments

One of the industry’s leading minds believes that property managers can learn a lot from the way in which corporate giants focus on process.

Ireviloution managing director Jo-Anne Oliveri, who has been nominated for the Industry Thought Leader title at the Real Estate Business Awards, said Ireviloution’s online training for property managers and principals has been based on the operations of multinational companies.

"What McDonalds is known for is its consistency. People can be in any part of the world and if they see McDonalds they know they can go in there and get the same consistent food, quality and service,” she told Residential Property Manager.

“McDonalds have 14-year-olds working for them and they all ask those same standard questions like ‘Do you want fries with that?’ and it all comes back to the training and having a policy with a process attached to it.”

Ms Oliveri said Starbucks is a similar type of company that provides a consistent service all over the world.

"Starbucks has that feeling, it’s going in there and knowing that I can have my own personalised coffee and I’ve got this really cool name that I can call it by,” she said.

One of the things these companies have in common is they develop their own unique terminology that is recognised worldwide, according to Ms Oliveri.

“We've developed terminology through the academy that means we can be universal, just like McDonalds, just like Disney, and when we're dealing with clients from anywhere in the world they will understand the language that we're talking about,” she said.

Ms Oliveri said another thing property managers can learn from these companies is how to build their businesses through recommendation.

“Disney grows their business through repeat referral and recommendation, and that’s one of the missing links in property management,” she said.

“Very rarely does the property management industry grow their business through existing clients.”

[Related: PM finalists announced for prestigious awards]

PMs can learn lessons from McDonalds and Starbucks
lawyersweekly logo
promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2017

The REB Top 100 Agents ranking is the foremost ranking of agents in Australia. It has set the bar for excellence in Australian real estate. To be ranked as an REB Top 100 Agent is the standard real estate professionals strive for. See the full 2018 ranking here!

featured podcast

featured podcast
The difference between an average agent and one who dominates

McGrath Crows Nest’s Peter Chauncy is number 10 in this year’s REB Top 100 Agents ranking. Peter, however, is more likely not surprised ...

View all podcasts

Would you consider working for Purplebricks or a similar 'DIY' model?

Yes (7.2%)
No (80.9%)
Perhaps - make me an offer (12%)

Total votes: 209
The voting for this poll has ended on: July 13, 2018
Do you have an industry update?