PMC 2017- Reinvent
Key takeaways for Property Managers from our Chief Marketing Officer.
Last weekend the team at Console attended the amazing Property Management Conference 2017 (PMC) at Benowa on the Gold Coast.
Unfortunately, the weather was very wet leaving many Southern visitors a little flat and damp, however, the theme of Reinvent set by the fantastic Apmasphere team meant a fantastic lineup of inspiring and challenging speakers. Not to mention an incredible Under the Sea themed gala party which was absolutely amazing! (Our anti-hangover Recovery Packs flew off the shelves). It was great to see so many Console clients there, and talk to them about our exciting new additions – Console Pay and Console Cloud!
The opening speaker was Alisa Camplin, OAM, and while I hadn’t heard Alisa speak before but knew a little of her journey. Alisa has won 2 Medals at the Winter Olympics. It was an incredibly gutsy call to become an aerial skier despite not being able to ski!
What blew me (and many of the audience) away was her single-minded determination, detailed goal setting, and ability to tune out naysayers and people who told her it couldn’t be done. Alisa has endured injuries, setbacks, personal tragedy in the loss of her newborn son, as well as many of the usual day-to-day struggles of modern family life. We can relate many of her learnings to Property Management too.
Here are a few tips from her speech:
- Anything is possible that you set your mind to!!
- Get in there and do some long-range planning. Alisa planned her journey to Olympics in a three year month by month activity calendar!
- Track and measure progress against milestones.
- Prepare for disasters and setback. Don’t just hope that bad stuff won’t happen. Think what could go wrong and prepare a Plan A and a Plan B for what you will do if something does go wrong! Alisa practised her jumps on zero sleep – just in case she was too stressed to sleep during a competition!
- Perception is everything – think about how others see you and judge you and manage those perceptions and impressions.
- You are your biggest critic – beware of your inner voice and learn how to master it.
- Elite performance in any field is a journey, not a destination.
Some of the breakout sessions on Day 2 were very interesting. They detailed some very different approaches by some of the best Property Managers and BDMs across Australia. One roundtable I sat in included tips from Asha Kerr on how BDMs and PMs can use a property appraisal inspection with prospective landlords. The appraisal asks 7 great questions that demonstrate how your services will add value to a property investor.
Those top 7 questions were:
- Describe your ideal tenant
- Would you be interested in professional photography?
- Have you got your landlord insurance organised yet or would you like some help?
- What are your goals for this investment?
- Do you have a depreciation schedule organised or would you like some help arranging one?
- Do you have any thoughts on what level of repairs can be carried out without us contacting you?
- Have you had your investment loan reviewed lately and are you happy with your current lender?
How does asking questions give the perception of value?
These questions and how you handle the answers are a great start to the Landlord onboarding process. Don’t assume your landlords are on top of the intricacies of property investment. A surprising number of landlords don’t know what to look for in landlord insurance, understand what a depreciation schedule is, or how it can help them out at tax time.
Many property managers or property management agencies know that their landlords may have outdated home loan arrangements, or are on higher than needed interest rates. They know that landlords are often sitting on capital which can help them repair or add value to their investment property, or add to their portfolio. Understanding why a property is being let, and what goals the landlord may have for it will help you find the best possible tenant to fit that property.
Asha’s tips were to add these questions to the conversation as you go through the property, and offer proactive solutions. As a landlord myself, I know that if my potential Property Manager asked me these questions I would be pretty impressed, and keen to sign up with this type of professional!
There were a huge amount of other tips and ideas discussed throughout the 2 days at PMC17, with generous speakers willing to share their ideas and best practices. These professional development events are a great opportunity for all delegates to really step back from the crazy pace of the day-to-day business. Here, Property Managers can think about their job(s), team, and business from a number of different perspectives.
At Console we are keen to keep learning ourselves and also to help our clients keep building their businesses. So, we will not only keep attending these events but will also be giving away free tickets and/or working with organisers to get discounts for our customers.