Property Management…. A Real Career?
Hands up those that ‘fell into’ Property Management.
I can honestly tell you that when I was in grade 12 contemplating my life’s direction, property management was not in that picture.
After ten years in the Property sector I have learned more than I could have imagined. The most important of these lessons, by far, is how to talk to people. Listening and adaptability are key! I’ve also learned that it doesn’t take a university degree to be good at what you do.
Property Management is not often regarded as a profession of choice, but it is an excellent way to launch a fabulous career in the Real Estate industry and one that can open plenty of doors along the way. When you break down the skills required it’s actually not that hard. So why then do we suffer from a lack of talent in the residential Property Management industry and a lack of inspiration to change this?
I can probably count on my fingers the number of Property Managers I know who have a burning passion for their job. With this in mind, it’s easy to see why so many don’t view Property Management as the career opportunity that it is.
Let’s have a look at an entry level Property Manager. What opportunities are they presented with at this stage of their career? Where do they see themselves in 5 years’ time? If you had asked me that when I first entered the Industry I would have said ‘working in commercial real estate’ because I wanted to earn more, and the perception I had was that Commercial paid more with the benefit of less headaches.
Now let’s zone in on the Property Manager with 2-3 years of experience. After this time in the Industry how do they see themselves? Possibly getting a little burnt out wondering how much longer they can sustain the demands of the job and noticing the impact that is has on their life. Are they motivated to do more and improve their status, earn more and achieve greater results? Do we ignite that fire within them?
Once a Property Manager has been working for a number of years, the natural progression is to a ‘Senior Property Manager’, a term which does not denote the age level of the PM but rather their status as a veteran of the industry. Generally this is someone who has lasted at least 5 years, and believe me when I say that that’s no mean feat! After this amount of time in the industry are these people getting tired? Sick of the stress? If the job itself has not deterred them, perhaps they are considering investing into the business they work in or starting their own Agency. Maybe they don’t know where to start or who to ask for advice.
It is rare for Property Managers to be exposed to any training outside of the realms of ‘time management’ ‘risk management’ or a refresher licencing course within the first 5 years of their employment. The missing link is training that offers career advancement opportunities such as business planning, how to recruit, how to set targets, how to market an Agency PM business or developing a point of difference in your marketplace.
The Coaching Program aims to achieve this by identifying skilled individuals who have a desire to turn their Property Management job into a career by giving them the knowledge and tools they need to be outstanding.
Increasingly, agencies are valuing the importance of having someone who is well versed and educated – not just in Property Management tasks, but in the management of a profitable and well-run Property Management business. Someone who can demonstrate high level leadership skills and good people management.
To build the workforce and talent pool required for your Agency and the industry, it is vital to ensure that Property Managers receive the mentorship and skill development that they need to succeed.
Ten years on I wouldn’t change my journey for anything and I know that in another ten years the career opportunities for me, along with anyone else in the Property Management industry, are endless IF you want to open the doors.
It’s time to open one of those doors NOW and discover the positive changes our Coaching Program can offer you.