Strata goes digital

Strata goes digital

A range of software solutions are now available to make strata management and dealing with tenants and suppliers far more efficient.

The saying now goes that “Software is eating the world”. This quote, attributed to Netscape co-founder Marc Andreeson describes the new reality where almost everything is going online.

The state of strata and how to join the industry

The state of strata and how to join the industry

How do you become a strata manager in NSW and Victoria so you can add strata management to your real estate business?

For motivated and proactive real estate agency owners, the addition of property management as a service makes sense. Taking on responsibility for landlords and tenants creates a ‘bread and butter’ income stream, delivering more predictability and more financial stability.

Why you need an independent business valuation for an internal buyout

Why you need an independent business valuation for an internal buyout

Thinking of selling your real estate business? It is important to understand its value first. Take a look at the benefit of having an independent valuation.

Thinking of exiting your business and considering an internal buyer? This can be a win/win as the person already understands your business and the way it works. You can also negotiate a gradual withdrawal from your responsibilities, depending on your preferences.

Leasing specialists vs property managers

Leasing specialists vs property managers

When growing your rent roll, dividing the salespeople and those who are more operations focused can be a winning formula.

Building your business can often be a chicken/egg situation. You would love more clients but the ones you have are taking up almost every waking hour for your property managers. If only they could forget about answering landlord and tenant phone calls to focus on building your rent roll!

Real remote: is opportunity knocking in rural areas?

Real remote: is opportunity knocking in rural areas?

While some of Australia’s regional towns are thriving thanks to local industry, others haven’t had a heydey since gold-rush times. With no tourism drawcards and a landscape ravaged by drought, population numbers in these areas continue to dwindle.

Real estate agency owners in regional Australia are suffering from a drought of their own. Not only is there are lack of property being exchanged, agents who are ready to sell their own businesses are set back by a lack of interest.

How to manage staff during a rent roll transition

How to manage staff during a rent roll transition

When you sell or buy a rent roll, often property managers and administrative staff are included as part of the deal. If they’re not happy about the change, your customers, your reputation and your relationships can be at risk of ending up in the wrong hands.

Avoid the loss of valuable information and clients by planning ahead and structuring a plan to manage staff during a rent roll transition.

Future-proof your rent roll sale by niching your market

Future-proof your rent roll sale by niching your market

Having handled the sale of dozens of rent rolls over the last few years, I’ve come to recognise the precursors of a smooth and successful sale process.

For example, agency owners who stay on top of bookkeeping find it much easier to prepare their rent roll for sale. They have all the information of the past three to five years to hand and they’re able to present it clearly. This helps quantify the value more easily to the buyer.

How to survive a property market downturn

How to survive a property market downturn

During an upswing in the property market, new real estate agents flock to the business, excited to take home their piece of the pie. However, reality inevitably bites! Being able to survive the hard times requires persistence, planning and strategy.

When the property market takes a breather and homeowners become reluctant to sell, here are some ways to ensure your business doesn’t go down the plughole.

Why banks want more paperwork

Why banks want more paperwork

Both property and small business are two areas of the economy feeling the heat as a result of the 2018 Banking Royal Commission. If you own a real estate agency, this can be troubling news!

During commission hearings, it was found lenders including ANZ and Westpac financed small business loans which the Financial Ombudsman later ruled should not have been approved. In one case raised as part of the enquiry, it was reported borrowers were given in excess of $200,000 despite providing unrealistic financial forecasts.