Many Agency Principals have a vision of what they want to achieve in a broad sense, but very few of us actually take the time to develop a planned strategy. Growth strategies are not a “set and forget” item. They need annual revision and updating to ensure that they reflect any new trends or market changes.
To help you set up a Strategy that works for your business, RED have created a range of resources in the Management Genius resource. You will be guided through creating a Vision Statement that reflects what you want to achieve and then how to create a Business Plan that reflects and delivers on that Strategy.
The Leadership process within RED Genius will guide you through creating a vision and developing a business plan and strategy. This will help you stay focused and redirect you to the things that you need to implement and review on a regular basis so that you don’t lose sight of your goals.
The catch-cry of any PM Department is “We’re too busy”; “We’re too stressed”. And with this resounding in your ears, you may feel reluctant to deliver the news that you are seeking more Managements.
Being busy and stressed is not always evidence of too much work, but can reflect that the systems and processes are out of date and inefficient. It may also be a case of staff who do not have the required skill level to take your business to the next level.
The best starting point is to undertake a Diagnostic that gives you a very clear picture of the current health of your Rent Roll and what processes and procedures are not being adhered to or managed correctly. It will also look at the make-up of your team and your PM Department structure.
A Rent Roll Business Diagnostic will review your current practices and identify inefficiencies, which will help you create a more effective team.
Amazingly many Agencies do not take advantage of their own resources and leads. So many times the Sales and PM Departments run quite separately without maximising the sharing of information that will help you grow your business.
Our REDlinx communication and collaboration portal means no more excuses for not communicating easily and effectively. It builds collaboration and transparency between departments and is an excellent way of bridging the gap between Sales Agents and PM’s.
With your own Agency hub, staff members can easily share information and collaborate with the whole office without everyone receiving an abundance of emails.
Once you determine that you would like to grow your Rent Roll – you have a decision to make as to how you go about this process. You can either grow organically through a concerted marketing effort from your existing staff, employ a dedicated Business Development Manager (BDM) or buy part, or whole, of a Rent Roll – OR – a combination of all three.
In order to make an informed decision about what will work best for you – have a confidential discussion with one of our Brokers to find out what is involved in this process and how much money it will take to reach your goal.
A Diagnostic will help you determine who you have on your existing staff who could potentially take on these duties and what tasks you can combine with another role to achieve your goals.
Having a clear idea of where you currently stand and what tasks are delegated to which staff will aid you in ensuring that you have the right people in the right jobs. A Rent Roll Business Diagnostic will also identify inefficiencies in your Property Management practices and how your team can work more effectively.
Plucking a number of Managements out of the air doesn’t work and there is no golden rule about what number of properties a Property Manager can handle. So much depends on your market, your location, and the scope of your service offering.
Acquiring a number of new Managements will have a flow-on effect on the number of staff you employ, the resources and equipment that you need and your processes and procedures.
This program helps you grow from a place of vision and teaches you how to implement strategic growth in a timely and planned manner.
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