Powered by MOMENTUM MEDIA
realestatebusiness logo

Breaking news and updates daily. Subscribe to our Newsletter!

Home of the REB Top 100 Agents
Breaking news and updates daily. Subscribe to our newsletter

Website Notifications

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

rpm logo latest

Are you looking out for the red flags?

By Cristel Stenhouse
02 March 2016 | 1 minute read

Why is it when we look at tenants – we screen them thoroughly and try to conjure a picture of them by putting all the pieces of the puzzle together; yet when we take on new business we grab anything, despite hardly knowing anything about the owner?

This year, I am not only going to categorise my new business, but I am going to be more selective of the owners I engage. Last year, a whole new level of expectation commenced within the property management sector, especially when it came to owners, and while we all want to give amazing service – if we are focusing all of our time and energy on a handful of owners, aren’t we letting down the rest?

My categories will be as follows:

Advertisement
Advertisement

Category “A”

Owners who are great to deal with, willing to have qualified tradesman attend to carry out required maintenance, are willing to listen and follow professional advice, and will contact you as expected.

Category “B”

Owners who are fairly easy to deal with, they do expect more than average, but this does not interfere with your workload.

Category “C”

Controlling owners. Owners who tell you how to do your job and expect you to do what they say, whether it complies with legislation or not. They tend to be serial jumpers – they change agents as fast as they look at them. Often, owners who like to carry out maintenance themselves and are usually the owners on lower fees – as they would only sign with you if you lower your fees.

You can usually spot category “C” owners at the time of the appraisal by asking the right questions. Use prompting questions such as:

  1. Will you have your own tradesman attend to maintenance or will it be reasonable to assume you will be okay with our licensed tradesmen?
  2. What type of tenant are you hoping to secure?
  3. What are your expectations of me as your agent?
  4. Do you have any special requirements?

Usually, by asking a few prompting questions, category “C” will give you a rundown of all the issues they have, what they want and what they want to pay. The meeting becomes completely about them – and what they want. 

Category “A” will listen and ask for your advice. Most of them will tell you that they are happy to be guided by you.

Category “B” will fall somewhere in-between. They will be governed by you, but will also have some requests of their own.

As a business development manager, I would love to list more property. However, I understand that sometimes less is more. Being able to provide your “A” class owners with unbelievable service because you are not being bogged down with “C” class owners means greater referrals of better quality owners.

This year I am making a stand – I only want the “A” and “B” class owners – somebody else can run around and entertain the “C” class ones!

Are you looking out for the red flags?
default
lawyersweekly logo

ABOUT THE AUTHOR


Cristel Stenhouse

Cristel Stenhouse

Throughout her 13 years in real estate, Cristel has demonstrated sheer drive and determination to get the best results.

As a fully licensed estate agent, Cristel has proven herself to be an expert across all facets of property management, working as a property manager, department manager as well as vast experience in trust accounting and leasing.

As business development manager within her property management team, Cristel displays leadership, commitment and a strong work ethic every day which assists her in helping owners meet their expectations.

Rankings
rankings
JUST RELEASED
May 09, 2022

REB Top 50 Women in Real Estate 2022

REB is thrilled to present the Top 50 Women in Real Estate 2022 ranking, which sets t ... LEARN MORE

rankings
JUST RELEASED
May 04, 2022

REB Top 100 Agents 2022

Now in its second decade, the REB Top 100 Agents 2022 rankings are the most revered s ... LEARN MORE

rankings
JUST RELEASED
May 02, 2022

REB Top 50 Agents NSW 2022

Even a pandemic has not put the brakes on the unstoppable property market in NSW, whi ... LEARN MORE

rankings
JUST RELEASED
April 27, 2022

REB Top 50 Agents VIC 2022

The COVID-19 crisis has not deterred the property market in Victoria, which has been ... LEARN MORE

rankings
JUST RELEASED
April 25, 2022

REB Top 50 Agents QLD 2022

As the property market continues to roar in Brisbane and Queensland, the REB Top 50 A ... LEARN MORE

Coming up

rankings rankings
Do you have an industry update?

top suburbs

12 month growth
Mirador
103.33%
Bawley Point
98.13%
Walla Walla
90.7%
Byron Bay
86.67%
Kiama Heights
85.93%
Greta
84.14%
Nulkaba
81%
South Hobart
78.78%
Diddillibah
76.25%
Lennox Head
73.98%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
Subscribe to 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.