In this Q and A we’re going to answer :
- How can my Outsourced Staff assist me to find new properties to manage?
- Can an Outsourced staff member replace my Property Managers?
- How can Outsourced Staff make our business money in our Real Estate or Property Management Agency?
Transcript of the video:
Damien Barnett from Affordable Staff and welcome to our RAW Q&A session around outsourcing.
We’ve created these series of videos for businesses that have considered outsourcing and they have genuine questions or concerns that need answering.
The format? 3 questions and 3 answers based on over 275,000 hours of outsourcing experience.
Let’s get into it
How can my Outsourced Staff assist me to find new properties to manage?
There are a number of ways that an Outsourced staff member is able to assist a real estate business source new listings, but none of these should involve cold calling!
How would you feel if you were contacted by a person overseas trying to spruik the benefits of working with Agency XYZ to manage your investment worth hundreds of thousands of dollars?
Using outsourced staff to do this is a waste of your money!
So where does an outsourced person fit?
Real estate businesses collect massive amounts of data from people that attend open homes, make enquiries online and generally are current clients, this data can be collated, compiled and schedule for the appropriate person in your office to follow up, they could even create call lists for your local staff that are not cold, but rather warm contacts.
Finally, they can assist with creation and execution of regular effective marketing campaigns for your database to ensure that you are seen as the authority in your area and will of course lead to new properties for you to manage.
Can an Outsourced staff member replace my Property Managers?
And this is why
Outsourced staff work remotely, do not have the specialist qualifications of a property manager and in reality cannot replace your local property managers as you need to be licenced.
This doesn’t mean you can’t still utilize outsourcing.
Let me explain… The costs to run a property management agency are going up and the average you can charge for a listing hasn’t increased in line with that cost.
As a result you’re trying to put more onto your property manager which in many cases means you’re spreading them too thin to effectively service your existing clients.
I know as this has happened to me many times and as a result you get frustrated trying to do your job and on top of that you also have to go out and get new listings.
Outsourced staff should SUPPORT your local team and allow them to remove the non cost productive jobs from them to ensure they they are able to focus on their speciality and allow then the time to focus on your clients.
For example outsourced staff can assist by typing up routine condition reports, scheduling inspections and send entry notices… all of the tasks that you know you’re supposed to do with consistency but fall by the wayside when you get too busy.
How can Outsourced Staff make our business money in our Real Estate or Property Management Agency?
There are a number of ways that Outsourced staff can generate ROI.
Most businesses have a large database of clients and contacts that have not been qualified because their local team does not have the resources or time.
There are 2 types of ROI… Direct and Indirect.
- Selling a house,
- Getting the listing a new rental property
This is what you have your local team do, yet there’s a bunch of Indirect ROI tasks that you can outsource, that directly impact the Direct ROI of your agency.
- Developing call schedules for your Sales agents and Property managers from open homes.
- Newsletters, with consistency
- Managing softwares like IRE and finally
- Admin tasks that support your local team so they can do more of the Direct ROI stuff
There is one tasks of a Direct ROI task you can outsource that I know most agencies aren’t using.
Calling every new tenant to ask if they would like assistance with utilities connections.
I know if you’re using services like ‘Direct Connect’ it means you’re add money to your bottom line. This seems like a no brainer, but I know most agencies aren’t doing it as they don’t have the time to.
Ok, that’s it
If you’d like to find out more about how outsourcing can work within your business you can call us anywhere within Australia on 1300 139 482.
This is Damien Barnett from Affordable Staff showing Australian businesses how to achieve business efficiency through outsourcing.