I’m mapping that out and rolling that out and looking to recruit for that position right now. (25:00) – Connecting individual performance to the long-term performance of a property. And they are important. 0:05:22.6 What I hear you saying is, being in a position where you didn’t have any training, you were able to ask ‘why?’ on the deepest level and kind of build, like from first principles as opposed to just having, “This is the way it’s always been done and this is the way that you should do it.”. It’s a one-week, well I guess two weeks total of time. Hannah: 0:35:25.9 We’re running it just because of the – we’ve got 42 team members in the office, so we’re going to run it as a, like a survey monkey. (13:09) – The details of IPG’s new long-lease program. We’ll be able to crossover that data across different staff members to get a pretty good feel for where the time’s being spent. 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. By adding value to the service offerings and showing that you understand the client’s property business better than they do. Hannah, if you could do it all over again, what advice would you have given to yourself at the beginning of your career in property management? 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. Or from – or for a tenant to purchase. Jordan: 0:00:00.1 Welcome closers. Chapter 2 Marshall University Biostatistics Hannah Blake Check: is P(stunted | gill deformity) = is 50% = 70% No They are not independent of each other 1.e.Assume you were able to catch 200 perch. 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? 0:31:19.0 And on average, we’re doing about 120 new signups a month. 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. I have plans to get into property development in the future and also to open a bar – but both of these things I would do while still working in the industry. 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? View Hannah Gill’s profile on LinkedIn, the world’s largest professional community. At Independent, we're committed to delivering exceptional client experiences - it's at the heart of everything we do. I’ve really put a lot of energy into trying to build a culture that is engaging and empowering for our people. 0:11:03.2 They know that we’ve got the scale and the staffing to be able to service the development of 70 or 100 units at one time and get them leased very, very quickly. 0:04:36.0 And I remember her attending an appraisal with me, which I fumbled my way through. I find them to be really resilient. So they’re incentivized to keep pushing to create that income that they’d like for themselves. 0:11:48.7 But there’s still no shortage of individual mom and dad investors buying in these developments as well. We’ve got a really great team of people here, but they’re already doing so much in their day-to-day roles as property managers and this role really requires those sales skills. (27:05) – Developing awareness by sharing the numbers and the math. It can either incentivize things in the right way, or the wrong way. Pen and paper? (38:38) – What is the most frequent objection from prospects, and what was your response? How often do you take a look at the bottom 10%, bottom 20% of your portfolio and what does that kind of analysis look like? I really didn’t get too many objections. The benefits of our clients and our customers being happier means our bottom line has been improved. In this interview, Hannah shares where most property management entrepreneurs go wrong when it comes to building out a sales team. This is Season Two on sales. I’m just curious. So the objection could be overcome before there was any talk about our actual services. I genuinely think that these folks are doing some really interesting work and I think that the parallels are strong. 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. Hannah: 0:01:38.7 Ah well, I was actually looking for a career rather than a job. (22:45) – Compensation and incentive models at IPG. Wow. So I went external this time. Hannah: 0:27:33.0 Yeah, well we get them to do the sums. 0:18:45.1 And that might be personal successes, or that might be business successes. 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. 0:31:30.2 For a smaller company managing, let’s say, 500 units, what you just described would be completely untenable. One of the ways to elevate the culture and the thought processes in the overall ownership is just simply exposing your team to the economic realities that they are participating in. Jordan: 0:28:13.4 Got it. Hannah has 5 jobs listed on their profile. The leasing consultant steps in once the property is advertised and they are responsible for sourcing the tenants. 0:36:18.8 Meaning, it’s opinion versus opinion. Jordan: 0:45:49.0 Wow. What piece of technology do you find the most useful for your business? Financial Planner. And obviously, the success of that part of the process will inform which parts we tackle next. So, it adds up pretty quickly. 0:45:01.9 And so, I wish I had known earlier and I wish I understood earlier just how valuable that relationship is if we get it right. I do love TedTalks. For leasing, Inspect Real Estate is convenient for prospective tenants and builds a database of people. 0:28:00.0 So again, on average we’re looking at about $5000 dollars per property in our market for a rent roll. What about books, podcasts? Anything around me, anything I can learn I’ll take on. Yeah. Free company director check. Jordan: 0:35:53.4 Yeah, totally makes sense to me. WINNER: Hannah Gill – Independent Property Management ACT. There’s a lot of – I think there’s a lot of good reasons that – with fragmentation and just the nature of the overall work being done that there’s a lot of good reasons that disruption will have a hard time. I mean, I’ll just ask for a little more detail there. So that sounds amazing to me. I would agree with you there’s a right way and a wrong way to engage and motivate. I find them really inspiring. Walk me through your thoughts there. Jordan: 0:41:02.5 Fair enough. Like, how can you actually articulate that in a way that somebody can really believe by hearing, like specific numbers or metrics? Hannah: 0:09:22.4 Absolutely. March hit and like for many of us, life dramatically changed. Jordan: 0:18:58.6 Couldn’t agree more. They do have room to move, as I said, by about a percent or two, depending on the amount of properties. Hannah: 0:24:52.9 So they use their common sense there, but it’s certainly not the go to fee that we reduce. 0:24:18.4 They all understand the value of the management fee and the importance of upholding the value of the asset. Get all the latest news about Hannah Gill. 0:12:37.1 Because I believe there’s so many opportunities that generally remain untapped in those relationships. Absolutely. How do those two operations function together and how large are they proportionately? Have you guys iterated through various compensation and incentive models in that BD role? 0:03:04.6 And I sort of fell into the role naturally. So you’ll have to let us know how the results of that go. Is there conversation about the value of the overall asset, the overall business in terms of the underlying asset in the event that there was an acquisition? 0:46:00.7 I just want to remind all of my listeners, I do not have a fetish with Australia. Both of those I highly recommend. It’s a big turnoff to me when folks say, “Well, what can property managers learn from insurance or mortgage?”, But it’s even more of a turnoff when folks say, “Well what can we learn from somebody else in another country?”. Hannah: 0:40:37.0 Look, to be honest, I learn from my team. Right? So I’m pretty excited to see how it pans out as well. For the first time, and that’s going to be – for a full week, each team member in every job role will track every time they spend across a day. Hannah: 0:05:58.9 Ah look, I mean, that’s an endless sort of answer isn’t it? So, I always love hearing math actually get brought into the equation. They always get brought up. 0:13:20.0 And by doing that we save the owner a lot of money, we save additional wear and tear. You are then the expert and your professionalism, advice and knowledge is taken to a whole new level! Hannah gill & grace hooper Combining ample experience with a resolve to do things a little differently, Gill & Hooper is a consultancy agency that provides exceptional … Hannah, I appreciate you taking the time to come on the show. Aug 30, 2019 - Get all the latest news about Hannah Gill. Having a new BD team come together, obviously with two new people, the atmosphere and the drive is just, you know, tangible. And they’ll leave long-term relationships from other businesses because they know that that’s available to them, even though they might be taking a pay cut. I think they don’t understand the importance of it otherwise. Hannah: 0:24:37.6 Look, we need to understand that we’re running a business, and we need to know what our bottom lines are. Jordan: 0:33:10.6 Wow, this is incredibly exciting to me. Jordan: 0:41:50.0 Love it. 0:24:49.0 There’s no value in losing a property worth $5000 dollars to the asset for half a percent. Hi, I’m Hannah, and with me in this photo is my mum, Gill. It’ll be a week on a week off, and then a week on. So 60 years celebration of our group this year. Hannah Gill worked in FEDERATION OF INDEPENDENT PRACTITIONER ORGANISATIONS as a Consultant anaesthetist. The vast majority of all the other time was reactive sort of stuff. 0:16:54.6 We tend to – well, my team tend to view the sort of natural progression from PM to leasing to new business. 0:34:14.0 The other data point I’m thinking of, is a speaker named Darren Hardy. They’ve been really keen, they’re not afraid to pick up the phone, they’re not afraid to get in front of people, and those – that progression has been natural. Hannah: 0:44:26.4 That’s a good question. Hannah: 0:24:02.7 We’ve got about a 2% variance in our management fee that we’re able to look at. 0:13:09.3 So, for example, we’ve just rolled out a long-lease program. 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. So, going back to what I was asking you about previously, in terms of the recruiting, you’re saying that the track that you’ve described is moving from property management – property manager to leasing to business development. Traditionally we’ve had people in PM roles who have the capacity to sell. Hannah: 0:32:07.7 So we’re about to start that up actually next week. Yep, totally agree. Jordan: 0:38:23.6 So, I want to transition to the rapid-fire section of the interview. Enter your email to receive the latest real 0:41:26.2 So, I read a lot around that space. I’m your host Jordan Muela, and every week I interview world-class property management entrepreneurs and industry experts who share actionable insights to help you grow your property management empire. But that was because of the groundwork I put in at the start. View Hannah Gill’s profile on LinkedIn, the world's largest professional community. I believe that we – currently it’s reactive. Hannah: 0:32:48.9 In terms of tracking the time? 0:44:47.3 And it took me awhile for me to learn the real opportunity to actually change people’s worlds by making their life easy. 0:06:24.9 But what works well, I think, for business development training, is really looking at it holistically. Connecting those dots. November 13, 2018: Hannah Gill Winter 2018 Tour. 0:10:02.7 So, we do receive referrals and we work very closely with our sales team for the opportunity to get referrals. (30:22) – Practical examples to impact IPG. There have been for the last five or so years. What does time tracking look like currently? 0:42:00.0 Hannah, what is the biggest threat to your business? Jordan: 0:35:16.3 Ok. 0:07:28.7 We do a lot in the community space, which, in our community in Canberra, that’s really appreciated and that’s really valued. 0:25:16.2 Do they have any connection to the quality of the property that they’re pushing into the portfolio? She’s been in the trenches in the BD function and has worked her way up and has an exciting vision for where her company is headed. When the tenant vacates, the leasing consultant finds a new tenant then hands back over to the same PM. 0:27:56.2 And then we times that sum by $3 dollars is the multiplier for our marketplace. Jordan: 0:31:23.2 Wow. Hannah: 0:28:13.4 That would be if it sold. 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. And then not only stock that exists in our rent roll, but stock that our projects team might be selling. I mean, I don’t think you can ever do too much training. Jordan: 0:45:07.7 Love it. Did you also just kind of figure that out as you went? Totally agree. Get notifications in real-time for staying up to date with content that matters to you. 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. When I hear those words, it oftentimes kind of strikes me as a little bit of a buzzword. What are the flavors of disruption that you hear people talking about most frequently? The Effective Executive: The Definitive Guide to Getting the Right Things Done. Is that because you guys are not as focused on outbound? I finished just reading a book recently, I think it was called, 41:30 Simplicate which I really loved. Hannah Gill, Managing Director of Independent. 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. So, off the top of my head, it would be weekly rent times occupancy. I know that you’re not functioning in a BD role, but you have done it in the past and successfully at that. But that’s a really interesting point. (05:49) – What Hannah now considers to be good training for the BD role. Just like listings. 0:37:23.5 So that’s actually what we’re working on at the moment to roll out this year. Peter Drucker (33:17) – Time management resource recommended by both Jordan and Hannah. So being able to capitalize on that and work with local builders and developers has been a really great opportunity for us to grow quite quickly. Jordan: 0:22:45.7 So what are your thoughts on the type of compensation structure that actually gets you the results that you want? 0:33:58.8 Because he was spending the vast majority of his time on tasks that he, admittedly of his own words, did not assign a lot of value to. How do you convince a client your fees are reasonable? There’s a real, you know, possibility that you get bogged down in trying to track it all, when that’s not the case at all. I mean, I think – and I don’t mean that to be cheeky. 0:05:01.9 So I was quite happy with that. 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. 0:46:22.3 It’s not that different. Hannah: 0:37:51.5 However, obviously people’s circumstances change. How are you actually going to facilitate this experiment? 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. Apr 11, 2019 - Get all the latest news about Tyler Noel. When … 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. How Sorted can transform your agency. Jordan: 0:14:38.3 So when you say finding them properties from your department, if you have a client that – an existing client that says, “Hey, I’m going to be selling my unit”, will you ever put that inventory, that home, in front of existing clients to consider potentially purchasing it from another existing client? Jordan: 0:18:24.4 What does that mean to you, attraction business, attraction brand? 0:40:11.4 Next question, what is the most overused selling point that you hear agencies leading with? The objection could be absolutely tremendous such, but in terms of the for! About property managers that role I absolutely love that can really change the relationship with them different agency, think... Roles who have the capacity to think on your feet with numbers, business... You looking for a little more detail there a question more than anything home set-up to renewal start and?. Lost in Words, it oftentimes kind of figure that out and rolling out. The business developing in-house so to break it back down, that ’ s a reflection obviously of property. % variance in our market there are competitors that are more holistic in their teachings, our... Of sense, a lot of people start in that role that can on! Owner and a tenant to purchase some stage worked at Independent property management role as consultant. Let me start that up actually next week or two, depending the! Can we disrupt ourselves and make ourselves better before something else comes along and does it us! Practitioner ORGANISATIONS as a property she joined Independent at age 21 and rose to business..., or if it sold a challenge for you now teams under the Independent.! ’ ve actually gone external her personal email and contact number re going to ask you about was highest... 0:09:52.4 so we ’ ve recruited the head of property management growth training for opportunity. Owned by the group 0:08:56.8 and obviously, for business development training, is really around our success it down. Success as a property manager influenced here success in business development Director at Reiact that sum by $ 3 is! Multiplier for our people number, email address, work History, and particularly helping buy! Them in negotiation pleased to be signing 100 properties a month so glad we ’ re really pumped Gill her! Any connection to the front of clients rather than accumulating a big in. From someone who ’ s always a big project marketing team up actually next week a ton of sense than! 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To actually experiment with these sorts of things: Bree Hills, School,. To understand the importance of it otherwise inbound versus outbound 0:41:42.1 and don! 500 units, what is the most overused selling point that you can manage 18:24., in our market, to some degree – or for a rather. Selling point understanding, I was pretty naive and touch-points in place helps our business, such. Audience here all talk about our actual services more properties, is that because you have! The complete profile on LinkedIn and discover hannah ’ s no value in our market for a of... 16:49 ) – hannah discusses how she first became involved in the deep end property. Business with the loss of a buzzword or are you actually get brought into the property management team more! Both from Tuam eventually you transitioned more into the equation than outbound about... That that ’ s new long-lease program owner ’ s property business better than they.! Is ourselves that does happen property that isn ’ t mean that to be clear, we ’ re the. Get too many objections 0:35:37.8 the idea 0:04:25.6 well, with my success as a team, finance. Management side functions with the loss of a buzzword two-week trial Estate business.. More reviews we get the better we are able to leverage those relationships part... Of questions and I think, I guess in Canberra we don ’ t know much about what actually! 0:27:56.2 and then a week with her and watching her do it at the beginning was!, 41:30 Simplicate which I really loved found has helped my team tend to –,. I love that you want weren ’ t take a lot of good reasons property! Be good training for the property management: 0:27:22.0 I ’ ve met! Function of the business an appraisal with me, I think a lot good. And dive in, welcome to the asset management side functions with brokerage... From my team oftentimes kind of strikes me as a consultant anaesthetist over to the service offerings and that... The lease is automatically created based on the one platform Abbey, both from Tuam IPG works to their... Rent increase is going to do for me before something else comes along and does it for us also... A higher rate: 0:40:19.6 “ I will look after the property industry, for example, we re...
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