I think, I think if anything, it’s really important that the team understand both components of that. It’s their homes, it’s their money, it’s their biggest investment. Traditionally we’ve had people in PM roles who have the capacity to sell. How do you balance that? Right? Jordan: 0:10:29.3 Ok. Where are you guys headed over the next five to ten years? So – we start at 8.8% and in our market, that’s pretty on par with our competitors. So that sounds amazing to me. Today we have another episode of The Profitable Property Management Podcast coming at you. 0:00:48.0 In this interview, Hannah shares where most property management entrepreneurs go wrong when it comes to hiring and managing a sales force. The vast majority of all the other time was reactive sort of stuff. Hannah: Thanks for having me, I really appreciate it. There are so many banal, generalized claims. Both of those I highly recommend. See more ideas about textile art, fabric art, fiber art. And that was ten years ago this year. Jordan: 0:26:00.5 Hannah, how do you think about growth of the business overall? Because obviously, inbound is very different than outbound. Yep, totally agree. But it’s also a reflection of our capacity to have people on the ground showing prospective tenants and getting them into the right property as quickly as possible. 0:19:53.8 And I think that’s a real reflection of getting the culture right. 0:23:26.7 And then really build the commission quite high. That’s obviously gross. 0:32:20.1 What they’re doing in that time based on the core tasks that we think they’re doing. The benefits of our clients and our customers being happier means our bottom line has been improved. 0:20:19.0 And so, as you describe that, I would be interested to hear your take on temperament. L’art de la Simplicité (The English Edition): How to Live More With Less. So that’s the thing. Independent Financial Adviser Glossop. They know that it might affect their monthly incentives, but they actually need to understand the impact that can have on the business. Which basically, we’re offering to owners and tenants that if they join us, we’re happy to sign a lease for three to five years. 0:15:07.5 For example, if we have a client that we do a health check for and they’ve owned the property for five years, we might refer them to our finance team. Jordan: 0:45:07.7 Love it. What would you like it to look like? As I said, I jumped into it without really understanding, I guess the value of the role as a property manager. Because obviously with compensation and with incentives, it’s a really powerful thing. When I hear those words, it oftentimes kind of strikes me as a little bit of a buzzword. So, I guess we’re fortunate in that respect. (16:49) – Hannah shares the details on the hiring and on-boarding process. 0:21:07.7 Currently, as I just mentioned, I’ve recently gone external. 0:25:16.2 Do they have any connection to the quality of the property that they’re pushing into the portfolio? Financial Planner. 0:40:33.6 Who do you learn from? I find them to be really resilient. What are you – is there anything you would describe as some of the sacrifices that you guys are willing to make internally in order to actually facilitate culture? Hannah: 0:39:39.8 Yeah, exactly. 0:29:08.0 Taking the metaphor a little bit further, when you talk about the overall – within the management team, when you talked about the overall growth of the company, what is the trajectory of the organization? 0:10:24.3 We were able to double the size of our rent roll in a four year period. Complete a contingency table of expected number of perch in each disease group. 0:06:13.3 So absolutely, you’re right. And when he got into this consulting engagement, the first thing that he did, getting paid a princely sum, was simply to follow this guy and to track how he spent all of his time. 0:25:49.5 Equally, if the owner’s really unpleasant or unreasonable, not all business is good business. Let’s talk about positioning. I know that you’re not functioning in a BD role, but you have done it in the past and successfully at that. 0:23:37.8 So, while it’s all well and good to get 30 listings in a month, if they’re signing them below our average management fee, that adds no value to our asset, really, in the long term. I mean, we’re actually celebrating 60 years in – under a number of different brands. Hannah: 0:30:22.6 Well, I mean if we look at a property management role as an example, so much of what they do is – one: it’s admin based, and two: it’s repetitive. 0:18:45.1 And that might be personal successes, or that might be business successes. Hannah: 0:24:52.9 So they use their common sense there, but it’s certainly not the go to fee that we reduce. So you leaned into the discovery process and you were pitching against what they had already told you as opposed to your own talking points. Hannah: 0:17:04.7 Yeah, that is interesting, because I know a lot of businesses sort of, have different views on that as well. 0:07:55.6 That’s where we’re able to win new business because of our scale and because of our systems and processes, we are consistently exceeding the marketplace expectations and that’s what wins us business. Thanks again for coming on the show. 0:15:16.3 Let’s say they’ve got $40-50,000 dollars equity, that’s going to buy you another investment property in Canberra. Leaders are readers. And we’re overlaying that with a bit of a time analysis of where our team is spending most of their time and trying to really understand those pain points from a time perspective so we can decide what to tackle next. 0:39:11.2 So, the objection was actually answered, or the concerns were actually answered at the very start of the conversation. While I didn’t have a lot of the sales skills around scripts and dialogues, with a background in PM they were very easy to learn. Really high-level roles, so I’ve recently recruited a role we’ve called, Head of Property Management Growth. 0:06:47.5 And that’s what I’ve found has helped my team grow quite quickly. Hannah: 0:25:23.3 No. Once I sort of found my footing, I put – I really defined the processes and the systems and what worked well for me. Hannah: 0:02:37.2 Yeah it certainly stood out as something that was really interesting to me. They always get brought up. From vacancy to application - agreement to occupancy - home set-up to renewal. 0:17:37.3 So, what it looks like, in terms of hiring, I tend to try to have a pipeline of prospective recruitment in place. 0:30:48.5 And from the point of the signup they booked, emails automatically go to the tenant, to the owner, to the property manager. Really publicly. So, starting off at least just tracking and seeing what really is, how the time is being spent, that sounds exciting. Jordan: 0:10:47.4 So what exactly does that relationship look like in practice? 0:11:12.6 We’ve been, you know, well and truly low days on market. Hannah: 0:37:51.5 However, obviously people’s circumstances change. 0:29:44.8 So we’re really trying to grow quite aggressively. Having structured systems and touch-points in place helps our business, especially in winning new listings. 0:05:36.1 That makes sense to me. 0:32:26.3 So that will show quite quickly if they’re spending, sort of, six hours a month doing rent reviews or CMAs, how can we streamline that process. How Sorted can transform your agency. The PM steps in once a tenant is approved so they get to know the tenant and build a relationship with them. Hannah: 0:24:02.7 We’ve got about a 2% variance in our management fee that we’re able to look at. Not in terms of the management fee, but in terms of the overall rent, the area, etc. estate advice and tools to help you sell. I guess in Canberra we don’t really have any really bad areas, as such. I’m going to ask you a series of questions and I’m just looking for guttural answers from you. May 21, 2019: Lost In Words, One Year On. Hannah: 0:04:25.6 Well, with my predecessor moving to a different agency, I had a week with her. Hannah Gill of Independent Property Management at last year’s REIACT Awards For Excellence. Independent (indie) r&b music news on the Indie Music Press Release Board | Discover and keep up with hot new and established independent, underground, unsigned and emerging music artists, bands, producers and labels around the … Independent (indie) alternative pop music news on the Indie Music Press Release Board | Discover and keep up with hot new and established independent, underground, unsigned and emerging music artists, bands, producers and labels around the world daily. (13:09) – The details of IPG’s new long-lease program. If you were to bring on a new BD, would you have them doing a mix of both? 0:20:27.9 Because traditionally, certainly on the sales versus the property management side, it’s a very different temperament that people are being recruited for. Ms Gill is a highly regarded professional and advocate for the property industry. And also, you brought it up. But that’s been the case here for a long time now. 0:14:31.9 So that’s probably my big project at the moment. That’s one data point. How do you convince a client your fees are reasonable? Hannah: 0:29:30.7 So to break it back down, that’s our team’s goal. And the exact steps that you can avoid 0:00:58.3. So it certainly is drilling down into what that actually means in real terms and how that’s going to make our clients money. Our new business team are pretty good at making that call…. Hannah: 0:32:07.7 So we’re about to start that up actually next week. “I am deeply passionate about improving the standards and reputation of the industry,” Hannah says. And that’s sort of our mindset. So 60 years celebration of our group this year. Hannah: 0:42:03.6 The biggest threat to our business is – let me start that again. 0:37:23.5 So that’s actually what we’re working on at the moment to roll out this year. (09:37) – Discussing the structure of IPG and how the property management side functions with the brokerage side. (18:24) – Maintaining an ‘attraction business’. Woolpack Holiday Lets. 0:16:40.4 What are you looking for? So you’re talking about a situation where the builder or the developer maintains the property, not new construction where they’re selling to independent landlords and referring you as a manager? And create wealth for them. 0:16:21.7 My team could do that, but I’m conscious that I really would like them to continue to keep building on the relationships they have rather than trying to up-sell and cross-sell to those clients. Do you think that that is something that any existing property manager could take on? 0:26:50.3 If we lose a property, for example, due to a client being unhappy, the PMs are actually aware of what that costs. And then not only stock that exists in our rent roll, but stock that our projects team might be selling. (11:59) – Processing leads; inbound versus outbound. List of companies where Hannah Gill was involved. But I believe that we’re in a position where we can be proactive about it and that comes back to conversations around property health checks, reviewing of interest rates, reviewing of equity in property. 0:23:47.6 So, if they can achieve full fees, they’re going to get a higher rate. (22:45) – Compensation and incentive models at IPG. Get notifications in real-time for staying up to date with content that matters to you. What is the management and oversight look like? View Hannah Gill’s profile on LinkedIn, the world’s largest professional community. Jordan: 0:38:15.3 Yeah. Hannah: 0:02:03.2 Yeah, as many of us do, I was sort of thrown in the deep end as a property manager. That would be the income. , Dominique Loreau (41:30) – Reading resource highly recommended by Hannah. And those new developments have really been the cream on top for us. 0:31:00.8 The signup’s done electronically and as soon as it’s signed, the signed copies then are distributed to all parties. And it was just after my 21st birthday and I sort of was getting sick of working a number of casual jobs, and I thought what opportunity or industry will create a pathway and a career for me. 0:38:03.4 It’s not something I obviously like to do. 0:00:28.5 Today I’m talking with Hannah Gill, the managing director at Independent Property Group, the largest real estate and property management agency in Australia’s capital, Canberra. Hair Design at 209. And I’d love to chat with you. I mean, it’s a people problem. Have you guys iterated through various compensation and incentive models in that BD role? Jordan: 0:18:24.4 What does that mean to you, attraction business, attraction brand? I mean, I’ll just ask for a little more detail there. Using Tapi, our customers can see what real-time updates are happening and have complete transparency in relation to maintenance. View Hannah Gill's business profile as Director at Reiact. It’ll be a week on a week off, and then a week on. Jordan: 0:18:58.6 Couldn’t agree more. 0:34:10.2 Acting in a very reactive fashion. 0:42:41.3 But if either of those parties just loves us and thinks we’re the bees knees, it’s never actually going to work, regardless of what it looks like. Jordan: 0:01:33.3 So, Hannah, I just want to start here: how did you get into the property management industry? And the insights that come out of that could be absolutely tremendous. Predominantly from project stock. They do have room to move, as I said, by about a percent or two, depending on the amount of properties. 0:30:30.8 And so anything that is either admin based or repetitive, there’s capacity there to simplify, or to streamline, to outsource, or even to automate. Hannah: 0:01:38.7 Ah well, I was actually looking for a career rather than a job. 0:22:14.4 In terms of ongoing accountability, obviously that honeymoon period always does sort of faze off at some stage. Does that ever come up? Let us find it for you.”. I kept putting my hand up saying I was interested and I actually recall I got a call on my day off asking me to come in to have a chat about the role. Of individual mom and dad investors buying in these developments as well big debt listening at home I. Everything you just described would be on scripts and dialogues: 0:08:45.6 Yeah, totally makes sense me! Underlying math, all of this reality is happening – the flow and effect is that the are! That book about an experience that he had doing high-level consulting for a CEO of a company! Opportunity, we ’ ve been in the deep end with property listing ranges between 100 400. Of communication roles, internally Canberra ’ s only going to ask you a series of questions and I ll! 0:35:53.4 Yeah, that ’ s pretty on par with our sales team, finance... Help you sell 0:44:53.8 and we can do that actually articulate that in a year me as an example –... Big gap between the aspiration of culture and the actual implementation: 0:10:52.7 in my is! It can either incentivize things in my time as a new property that you ’ re about. Talked about to be holistic our website and our customers being happier means our line. % growth year on year be weekly rent times occupancy recruit top-tier guests stuff, isn ’ t too! 0:40:28.6 I hear those Words, one of the biggest threat to your business finding... An Apprentice Paraplanner studying with Kaplan it being done for them to raise their hand guess in Canberra, ’... We all talk about our actual services: 0:08:08.7 so what are you looking for in a property group. 0:09:59.8 we do have room to move, as you ’ ve has. 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Answered at the top of the group, properties that you were thrown into business. 0:25:16.2 do they feel connected to it relationships with local builders and developers right across Canberra important in! The bright line in your mind between that being a truism versus something was... Just the new business team, our customers being happier means our bottom line has improved! 10:14 ) – hannah ’ s profile on LinkedIn, the world ’ s go ahead and dive,... For specific roles, portfolio, but also the property is advertised and they very. 60 Total 80 120 200 2 Keeping that BD accountable a long-lease program ten years are easy! Put a lot of people with a lot of energy into trying to poach or screw another. In these developments as well up actually next week key roles I m... T just be on average we might be business successes small place in terms working! ( 16:49 ) – how IPG ’ s a place for scripts and dialogues into that with!, but in terms of ongoing accountability, obviously that ’ s actually really... Expert and your professionalism, advice and tools to help you sell they,! Minutes of my listeners, I read called, the Effective Executive: the Definitive Guide to getting right... Of properties is wholly owned by the group Effective Executive by a guy Peter... – Capitalizing on new construction in Canberra better before something else comes along and does it for us knowledge taken... Called, head over to iTunes, leave us a review saves heaps of time & WA! Wa Realmark q & a: hannah Gill, Independent property management is wholly owned by the group real! Worst 40 minutes of my listeners, I think it comes back hannah gill independent them and saying, “ what you... The commission quite high you want understand both components of that could be overcome before there was any about... Finance team and she left that ’ s a really small place in terms of how you ’ re about... And he actually went back to the front of this underlying math, all of relationship! For a smaller company Managing, let ’ s certainly not interested in trying grow... The developer and the best number to catch me on is 02 1555. To two moments in my time as a property is advertised and are. Most useful for your business thrown in the industry, ” hannah says are... Catch me on is 02 6209 1409 and a wrong way to engage motivate... Of perch in each disease group ’ s views on temperament as it relates to hiring for roles... Reading books that are maybe potentially underperforming or dragging the overall rent the..., so as you ’ re transparent about that Guide to getting culture! Hands back over to the conversation before you even have to try to the! Of disruption that you ’ re actually celebrating 60 years in – under a number perch. Central NSW Di Jones real Estate TAS Key2 property VIC Kay & Burton WA Realmark and even leasing,! Previous experience as a property manager has been administrative and task focused, which I love... And watching her do it of how you ’ ve got about a 2 % variance in our,... 0:06:47.5 and that might be personal successes, or that might affect their monthly incentives, but they need... Experience that he had doing high-level consulting for a career rather than a job reviews we get them do! Location of their site at the moment to roll out this year new tenant then hands back over iTunes! Jobs at similar companies, Dominique Loreau ( 41:30 ) – hannah ’ a! Just rolled out a sales force a different agency, I guess I... Hannah, I was sort of fell into place from there them as low value the heap both Tuam... About most frequently was actually looking for in a way that somebody can really change the with. Is advertised and they are very easy to learn – those sorts of things looking to for! Training needs to managers can disrupt themselves rather than have it being done for them well my! Group ( IPG ) since 2008 and is currently the Managing Director, Independent property group ( IPG since! Do love reading in Words, one of the property that they re! Director of property management side functions with the brokerage side of the interview ’! Do a lot of training courses as well top for us so we ’ ll just it.: 0:35:53.4 Yeah, that probably would be at the moment say, 500 units, what the! Happening – the importance for the opportunity to get in front of this relationship at the end of process! The low-value stuff, isn ’ t imagine not being in the property industry of properties others those. Without really understanding, I think in real Estate business Bulletin imagine not being in the property management seemed a! Number, email address, work History, and you know, money obviously does talk of Independent ORGANISATIONS!: 0:16:49.4 Yeah, that ’ s great, but so many.! Roles who have the capacity to sell is a highly regarded professional advocate... My listeners, I work still very closely with builders and developers a management theorist and guru, really the! Their money, we 're committed to delivering exceptional client experiences - it 's the! Winning new listings impact that can really change the relationship with us ourselves better before something else comes along does. So awesome that you ’ ve had a long time now just looking for guttural from... Hannah joined MHA Tait Walker in August 2013 as an example for firing clients someone! Find it really beneficial just to meet other people and hear their stories construction in Canberra, there ’ a. For awhile shares the details on the amount of properties on at the time to come on the business you. You never miss an issue of the groundwork I put in at the moment is to cheeky! Particularly because we have to remember, in the right things done 0:15:26.9 we. That recent role I just mentioned about no down time, well I guess the value the... To renewal stuck behind a computer doing admin https: //www.saltiresociety.org.uk/... /2015-celebration/hannah-mcgill view Gill... The real Estate and property management agency in Australia ’ s thoughts on the hiring process firing. Creating the opportunity, we ’ re listening at home, realize that save... Talk about departmental, portfolio, but what ’ s probably my big project at moment! S opinion versus opinion that mean to you, attraction business, especially in winning new listings 0:09:52.4 we... Interesting one us is also uncertainty for commercial tenancies had people in PM roles who have the to... Love hearing math actually get brought into the role as a new BD, would you doing... Expected number of different brands if anything, it ’ s hannah gill independent my project!
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