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HOW TO TURN A SALES ONLY BUSINESS INTO A PROPERTY MANAGEMENT SUCCESS STORY
Ever wondered how to start a property management department from scratch? You’re in the right place. Today, we’re delving into this fascinating topic with none other than Alicia McCulloch, a seasoned professional in the Real Estate industry who has successfully built a property management division from the ground up.
With over a decade of experience, Alicia’s expertise as an Investment Property Consultant is unparalleled. Her passion for Property Management shines through in her dedication to providing personalised, exceptional service to her clients.
Alicia’s journey into the property management industry began unexpectedly. As a 17-year-old working in a takeaway restaurant, she found herself yearning for something more fulfilling. Despite enjoying the customer service aspect of her job, she wanted a change. After some online job searching, she landed a receptionist position, which turned out to be a pivotal moment in her career. Within six months, she transitioned to a junior property manager role, managing about 60 properties. Her first day on the job was chaotic, coinciding with massive storms that caused damage to nearly the entire portfolio. This challenging experience tested her resilience and set the stage for her future success in the industry.
Early days as a property manager were marked by steep learning curves and high-pressure situations. The aftermath of the storms required a year of dedicated effort to resolve property damages. However, these challenges honed skills and prepared her for future roles. Her career saw her taking on various property management positions, including a training role, which further enhanced her expertise. Alongside professional growth, she balanced her career with raising three children, demonstrating remarkable multitasking and time management skills.
One of the significant struggles faced today is managing property owners’ expectations, especially regarding rental prices. While the rental market has seen increases, not all properties can command high rents. This discrepancy often leads to unrealistic expectations from investors who have purchased properties at high prices and seek similarly high rental income. She addresses this by providing realistic appraisals and educating investors on the current market conditions in Western Australia. Emphasis is placed on setting expectations early and educating clients about what tenants are looking for in properties.
Another challenge is managing the increasing demand for instant responses from tenants and owners. Communication remains efficient by acknowledging emails promptly, even if the detailed response comes later. This approach helps manage expectations and reduces the pressure on property managers.
The current role involves building a property management division from the ground up within a sales-focused business. This transition required educating colleagues about the differences between sales and property management, emphasizing the long-term nature of property management. Extensive experience in various property management roles equipped her with the knowledge needed to establish processes and procedures essential for the new division.
The journey began with setting up the basics: trust accounts, insurances, and property management software. Experience with multiple software programs taught valuable lessons about due diligence and the importance of choosing the right tools for the job. The initial decision to use the property management module of their sales software proved problematic, leading to multiple changes before finding a suitable solution with “Our Property.”
Recognizing the importance of building a team that complements strengths and weaknesses, she plans to focus on growth while training a new assistant in property management tasks. This proactive approach ensures that the team can handle the increasing workload effectively.
Several growth strategies are employed to expand the property management portfolio. Collaborating with the sales team, she attends home opens for properties suitable for investors. This direct engagement allows connections with potential clients and addresses their questions from a property management perspective. By integrating investor support with sales efforts, a seamless experience for clients is created, fostering growth.
The journey from a takeaway restaurant to establishing a property management division is a testament to dedication, resilience, and passion for the industry. Her experiences and strategies provide valuable insights for anyone navigating the challenges of property management. By setting realistic expectations, maintaining efficient communication, and building a supportive team, continued thriving and contribution to the success of the organization are ensured.
Alicia stands out for her strategic blend of marketing savvy and hands-on client engagement. Her approach isn’t just about closing deals; it’s about building lasting relationships and delivering genuine value.
Alicia’s role spans from marketing and photography to behind-the-scenes work, all aimed at expanding her business’s social footprint while ensuring it complements sales efforts effectively.
“For me, it’s essential to go beyond just making transactions,” Alicia explains. “It’s about offering real value and connecting authentically with clients.” In an increasingly digital industry, she emphasises the power of face-to-face interactions and personalised engagement.
Beyond traditional methods, Alicia leverages content creation to enhance visibility and efficiency. This includes attending open homes, assisting buyers, and concurrently creating impactful social media content.
Looking ahead, Alicia remains optimistic about the market’s future, particularly with interstate and overseas investors driving growth. However, she underscores the importance of nurturing local investors, who provide a stable foundation for sustained business growth.
Alicia’s commitment to personal development is evident in her participation in accountability groups and her avid consumption of insights from industry leaders like Tony Robbins and Gary Vee. “Continuous learning is key,” she notes, emphasizing adaptability and growth in an evolving industry.
Moving forward, Alicia is preparing to expand her expertise with a training course in property assessment, reflecting her proactive approach to staying ahead in a competitive market.
Alicia’s journey highlights the enduring value of personal connections in real estate. By integrating innovation with a personal touch, she not only drives business success but also enriches client experiences along the way.
Connect with Alicia McCulloch
https://aqwasun.com.au/staff/alicia-mcculloch
https://www.instagram.com/westaus_propertymanager/
Property Management
08 9537 1220
0459 185 872
pm@aqwasun.com.au
