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A common issue Principal’s face is that their property managers aren’t putting on enough clients and growing their business fast enough! So, is it the property manager’s fault or perhaps does the business development part of the business need a review?
Property managers are not necessarily Business Development Managers
It’s a fairly typical myth held by principals that their property managers are also business development managers. The reality is that property managers are indeed busy managing properties and by definition the character of a property manager is rather different to that of a business development manager.
Asking what the best way is to structure your business to get maximum growth can be met with a number of different responses based on both your end goal and your current business staffing set-up. And it should be spelt out that when you are in growth mode, you are not in the high-profit mode as you are investing in growth. That is, of course, if you are investing in growing your business and not relying on your property managers alone to grow your business.
Options for a principal to grow their business further without using their property managers to do the task.
If you are relying on your property managers to grow your business and it’s working that’s great, but know that you are in the minority and you should really be giving that employee “some love”. For the most part though, property managers are busy managing properties and struggle to commit the time to new business initiatives. So, don’t keep banging your head against the wall – consider the other options available to you to skin that cat!
Hamish has over 17 years of experience within the property management industry and has experience throughout New Zealand and Australia as a manager, principal and consultant. He utilised all of this experience to form a property management business that he expanded between 2009 and 2016 into 7 locations around New Zealand.
