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PROPERTY MARKET INSIGHTS AND PREDICTIONS
How do successful property managers balance professional demands with personal responsibilities, especially in today’s ever-evolving real estate market? Kurtis, a seasoned real estate agent (REA) and a new dad, shares his journey and insights on managing this delicate balance.
Kurtis, with eight years of experience in various roles within the real estate industry, primarily focuses on property management. He leads a team of specialist salespeople, similar to business development managers (BDMs), scattered across the country. His team not only handles advertising but also helps clients build their rent rolls, create efficiencies, and promote their businesses.
Beyond his professional life, Kurtis is a new father to a seven-month-old son named Edwin. He openly discusses the challenges and joys of balancing work with fatherhood. He aims to be present for as many bedtimes as possible, sometimes taking early morning or late evening flights to ensure he’s home for his son’s bedtime routine. Kurtis emphasises the importance of being there for those special moments, like reading Edwin’s favorite book, The Very Brave Lion.
Balancing work and personal life is a constant juggle, Kurtis admits. His strategy involves integrating his roles rather than compartmentalising them. He acknowledges the crucial support from his wife, who handles most parenting duties while he travels for work. Despite the challenges, Kurtis strives to be the best dad he can be while fulfilling his professional responsibilities.
Shifting the conversation to the real estate market, Kurtis highlights some significant trends. The property management sector has seen fluctuating investor activity, influenced by various factors, including interest rates and market confidence. Post-pandemic, many investors cashed in on their properties, leading to a temporary dip in investor activity. However, recent trends indicate a resurgence of investor interest, particularly in regions like Perth and various regional markets.
Kurtis points out that investor confidence is gradually returning as people adapt to the current economic climate. The stability in interest rates and market conditions allows investors to make more calculated decisions. This renewed investor interest is promising for property managers, as it signals potential growth in their client base.
As Kurtis points out, the real estate market is cyclical. Rent arrears are becoming more common as people struggle to afford increasing property prices, even in traditionally lower socioeconomic areas. Despite these challenges, innovative businesses find ways to support their clients and stay ahead.
REA Group is rolling out new tools to help businesses adapt. One notable development is the new CMA (Comparative Market Analysis) tool within Ignite, a platform dedicated to creating efficiencies for customers. This tool allows users to easily generate property valuations and market insights, which can be invaluable for lease renewals and investor communications.
Kurtis emphasises that as the market stabilises, data will play a crucial role in educating investors about pricing and expectations. Current data can help property managers have more informed conversations with their clients, showcasing the real-time market conditions and reinforcing the value of their services.
One area Kurtis believes needs improvement is how property management businesses showcase their success. While REA Group excels in generating leads for sales agents, they are working on better ways to highlight the achievements of property management agencies. Kurtis suggests that businesses ensure their results, such as leased properties and median lease prices, are displayed prominently to attract new investors.
As Kurtis continues to juggle his professional and personal responsibilities, his insights offer valuable perspectives for anyone involved in property management. His experiences highlight the importance of balance, support, and adaptability in both work and life.
Connect with Kurtis Pirotta
https://www.facebook.com/kurtispirottarealestate
https://www.instagram.com/kurtispirotta/
