One of the challenges that I am facing at the moment is hiring a new staff member in regional Australia for a Property Management Role. Someone with some experience would be nice. But on the back of COVID-19 our industry has taken quite a hit - we have lost 30% of our workforce (maybe even more) and some very valuable industry knowledge with it. Whilst we have reached out to a couple of potential industry candidates, their response has been “there is no way I am doing Property Management”
Also this week I sat in on a University Lecture in Economics where they touched on some ABS Stats - one of which included the number of hours worked by the average Australian included the impact technology has made over the years. With the census last night got me thinking about when I started in Property Management and the hours I put in - and how different it is now.
I have found with the advancement of technology in our field how much easier it is to do our job and the reduction of hours that has followed. There is so much more technology coming our way too. I feel that our job has improved over the years which has made it easier to build client relationships.
So why does everyone hate Property Management so much? Ok - now I don’t want a barrage of reasons (I am aware that fundamentally the impact of people and expectations make the job complicated). But want I want to say, is that we have a responsibility to try and shed the “urgh Property Management” sentiment within the real estate industry to try and lift the spirit of Property Management being a good career path - because it is.
It is really import that Principals that have a Property Management department plan this sector of the business well, give the Property Management team the right technology tools to work with and remember (on a regular basis) to pat them on the back so they feel supported. Oh - and don’t discount your fees so that you can pay them well.
As a group we can rid the stigma attached to our great industry