Powered by MOMENTUM MEDIA
realestatebusiness logo
Powered by MOMENTUM MEDIA

Website Notifications

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

news image

Blurred lines: Educating agents in a COVID-19 environment

August 10, 2020Grace Ormsby

Not only has COVID-19 forced a change to the way agents work, it’s altered the way agents access information for the better, according to an industry CEO. ...

REB_top100agents
top 10 agents

1

Alexander Phillips

Year of Experience: 20

Support Staff: 3

Residential Properties Sold: 215

Total Value of Residential Properties Sold:

$ 522,477,791

VIEW COMPLETE REPORT

Have you experienced sexual harassment or bullying in the workplace?

Yes, I've been the victim of sexual harassment (15.8%)
Yes, I've been the victim of workplace bullying (21.1%)
No (63.2%)

Total votes: 19
The voting for this poll has ended on: April 30, 2020
TECH MARKETING SALES BETTER BUSINESS PROPERTY MANAGEMENT
agent using smartphone 3 reb Proptech to support property managers

An Australian proptech company has helped local property managers navigate the stressors felt during the COVID-19 pande ...

AshFarrugia 850x400 march2019 New feature ‘to take property matching to the ne ...

ActivePipe has launched a new feature which aims to clear the way for a near fully automated service. ...

sydney street cbd reb Prop-service provider closes strategic funding rou ...

An Australian property service and technology provider has closed a deal worth $3 million, further cementing its status ...

Openn Negotiation NZ reb Real estate platform broadens national scope

A local real estate sales platform has expanded its horizons to Australia’s easterly neighbour. ...

Tom Panos Live 060820 What’s Making Headlines – The week commencing ...

What’s Making Headlines is your new source for all the very latest in Australian real estate news. ...

Dr Nicola Powell WEB Property trends with Domain’s senior research an ...

In this episode of Secrets of the Top 100 Agents, Dr Nicola Powell unpacks the key trends she’s uncovered in Domain’ ...

Tom Panos 310720 What’s Making Headlines – The week commencing ...

What’s Making Headlines is your new source for all the very latest in Australian real estate news. ...

Kate Smith Web What competitive sport and real estate have in com ...

Kate Smith developed a love of real estate while working as a receptionist at her mother’s agency, Harcourt Smith, whi ...

Tom Panos Live 060820 What’s Making Headlines – The week commencing ...

What’s Making Headlines is your new source for all the very latest in Australian real estate news. ...

Dr Nicola Powell WEB Property trends with Domain’s senior research an ...

In this episode of Secrets of the Top 100 Agents, Dr Nicola Powell unpacks the key trends she’s uncovered in Domain’ ...

Tom Panos 310720 What’s Making Headlines – The week commencing ...

What’s Making Headlines is your new source for all the very latest in Australian real estate news. ...

Kate Smith Web What competitive sport and real estate have in com ...

Kate Smith developed a love of real estate while working as a receptionist at her mother’s agency, Harcourt Smith, whi ...

Positive Mindset in Business reb The impact of a positive mindset in the business o ...

Let’s be real: running a business or an office is stressful. Here’s a quick rundown of some insights on keeping yo ...

Cameron Black reb Lies and statistics: Has the property market actua ...

It seems like there has been a huge change of sentiment in the last month as a confluence of factors has come together t ...

short 850x400 june2019 How to get that big win

Getting a big win is more than just sales. It involves strategic planning and setting goals, according to real estate bu ...

MeganSmith 050719 cropped Ray White’s Megan Smith sells $14m property in B ...

Ray White Balmain sales dynamo Megan Smith has sold one of the most expensive houses in Australia this year, with the pr ...

David Hancock reb Why concerns about the so-called economic ‘cliff ...

Many commentators have been pointing to the end of September as a danger zone for the economy, writes David Hancock. ...

Queensland aerial properties reb Housing approvals fall to eight-year low

The COVID-19 health pandemic has triggered the fourth consecutive decline in dwelling approvals, according to the latest ...

client agent buyer reb Australian property proves popular with British bu ...

COVID-19 hasn’t dampened international interest in Australian property, with the Brits proving Down Under is still in ...

Sharon Fox Slater reb Weather watch: Winter-proofing rentals

Wet and windy conditions can wreak havoc on rental properties. Each winter, insurance claims for water damage spike as ...

EVENTS
REBAWARDS Listready
Real Estate Business Awards 2020

The REB Awards is the benchmark of success in the Australian real estate industry. It reflects not only the business astuteness of the country’s leading real estate operators and networks..

Learn more >
FROM THE WEB
Recommended by Spike Native Network
Do you have an industry update?
rpm logo latest

Office cuts 30 per cent of rent roll, triples profit

07 May 2014 Steven Cross

While a lot of property managers dream of rinsing their hands of difficult landlords, one Melbourne office kicked a third of their clients to the curb and have been reaping the rewards ever since.

Director of Melbourne-based Marshall White James Connell said that while the property management department is not his company’s focus, a recent overhaul has seen profits sky-rocket.

“After looking at our rent roll, we realised that 70 per cent of our profit was coming from half of the properties. That means that 30 per cent were taking up half of the resources needed to run the property management department,” Mr Connell told attendees at yesterday’s Ideas Exchange in Sydney.

“We were gaining and losing about 17 properties a month, so we were stagnant and needed to do something to inspire growth.

Advertisement
Advertisement

“We learnt that you need to stop thinking that it’s the number [of the rent roll] that counts; it’s the quality of those properties.”

According to Mr Connell, if the management had a difficult landlord, was a bad property, or was on reduced fees, he sold the managements.

“Not only did that give us $1.4 million to invest elsewhere in the business, but we had freed up 50 per cent of our time and resources to cater to the clients we wanted to keep," he said.

“We sold a third of our rent roll, and immediately realised what we’d been missing.

“We didn’t have any more difficult landlords to deal with, we stopped the turnover in the team because it was a better environment, and our service levels jumped so we started growing immediately.

“Very quickly we’d made up for the 30 per cent drop in our rent roll size, and we turned the rental department from a nine per cent profit yield to a 30 per cent yield.”

But most importantly, Mr Connell claims learning to not just take on any listing and to keep your standards high was the best thing that came from the experience.

Office cuts 30 per cent of rent roll, triples profit
default
lawyersweekly logo
FROM THE WEB
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
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.