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27 March 2020 Cameron Micallef

Proptech to support real estate industry

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Proptech to support real estate industry

March 27, 2020Cameron Micallef

Virtual inspection tools, live-stream auctions and new customer support packages will allow agents to carry on following government restrictions on open house inspections and auctions to slow the spread of CO ...

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ALEXANDER PHILIPS

Year of Experience: 17

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Residential Properties Sold: 208

Total Value of Residential Properties Sold:

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Raine & Horne utilises creative thinking theories to solve industry issues

10 July 2019 Hafizah Osman

Creative thinking theories like Edward de Bono’s Six Hats are a critical process that can help property managers solve problems faced in their roles, according to Raine & Horne.

The global property conglomerate recently hosted its inaugural property management conference, One Percent Better, in NSW’s Hunter Valley, where speakers utilised the theories of creative thinking to enhance daily problem-solving expertise.

Edward de Bono’s Six Hats theory involves team members separating thinking into six functions and roles, with each identified by separate “hats”. Switching between these “hats” enables property managers to focus on different elements, encompassing a wider range of thought or conversation.

In addition to Edward de Bono’s Six Hats ideology, Raine & Horne focused on the theory of continuous improvement.

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“[Real estate consultant and proptech expert] Scott Shepherd talked about business methodology of continuous improvement in line with the theme of the event. He discussed the concepts of continuous improvement and how to apply them,” group property management business support and development manager Maria Milillo said.

“Then, [industry expert] Kate Benjamin talked about ways of applying the theory of continuous improvement theory within property management businesses.”

Ms Milillo said the goal was to show property managers that instead of trying to make significant or dramatic changes quickly, aiming for small, daily improvements can gradually lead to the more substantial change.

“For example, over time, many of the standard letters and emails property managers send to clients become outdated, inconsistent or even redundant. We all know how many letters most property managers have in their databases and rely upon and a job that size would take far too long to address in one go,” she said.

“However, reviewing a letter each day should only take five to 10 minutes to complete, and in few short months, a task that was far too big to tackle can be completed without any major business interruptions.

“It might not seem like much, but those 1 per cent improvements start compounding and gradually property managers will start to notice the improvements.”

The conference also addressed traditional property management topics such as account management, customer experience, growth and technology.

“In many real estate businesses, property management departments and staff are not as highly valued as they should be, but this is not the case at Raine & Horne. We wanted to highlight and put the focus squarely on our property managers with a standalone event,” Ms Milillo added.

Raine & Horne’s next international conference will be held in Bali, Indonesia, in 2020.

Raine & Horne utilises creative thinking theories to solve industry issues
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