Darren Hunter Presented by realestate.com.au Who is Darren Hunter? - - PowerPoint PPT Presentation
with Darren Hunter Presented by realestate.com.au Who is Darren Hunter? Based in Adelaide SA Started in Property Management in 1989 (Adelaide) 15 years frontline experience as a Property Manager, Property Inspector, Senior
Presented by realestate.com.au
Property Inspector, Senior Property Manager
New Zealand and the US
How your mindset dictates how much you can achieve in fees. The power of the ‘BIG BUT’ that stops you getting better fees. What type of owners you cannot increase your fees with. Why your clients will pay more and stay. What fees you can add or increase. Some scripts to overcome fee discount requests. How to get better internet marketing & leasing fees with new clients. Audience Q&A
Who’s in the room today? Where are you from?
damaging your rent roll and sending your fee income backwards.
double your staff and overheads, to get the same result. RIGHT NOW there’s likely a bigger problem we need to deal with…
To succeed you need believe it’s possible.
One Sydney agency said they were already ‘too expensive’ went onto achieve an extra $14,000 extra per year month.
Perth Principal didn’t believe better fees was possible…until he bought another rent roll with nearly double his own fees!
When was the last time you had a fee increase conversation with your owners?
term management agreement.
present.
they don’t.
they will pay your increase in nearly all cases.
Keep your Management and Leasing fees at market rates unless you have strong points of difference. You CAN add a couple and increase a couple ancillary fees.
“Mr Smith, we’ve had to increase our fees because of the ever increasing cost of business, plus we haven’t revised our fee structure for 5 years. You’re an important client to us. What do you is fair to both of us?”
If it’s a ‘C-Class Owner’ then consider: “Mr Smith, we’ve had to increase our fees because of the ever increasing cost of business, plus we haven’t revised our fee structure for 5 years. We need to charge our new fees. Please let us know what you want to do”.
time (C-Class owners).
loss is quickly overcome by the financial gain. WE HAVE NEVER SEEN the fee income loss exceed the fee income gains of such a campaign
needs: best rent, best tenant and in the quickest possible time.
respond that counts!
"Mr Smith, we are aware of the fees other agents are charging, but they know what our fees are too! Despite being aware of this, knowing that they cannot compete with us
discounted their fees in line with their service levels.”
“Mr Smith, if you’d like us to match the other agent’s fees, we will also need to match their service levels. Typically we hear of our competitors not returning calls for days, not attending to urgent repairs and not returning emails at all. If you want us to match their fees, we will need to match their services too! As we are unable to compromise on our level of service, we cannot compromise on the fees we charge for our services either. I’m sure you understand.”
“Mr Smith, thank you and we are aware of what other agents are charging. When it comes to the leasing/marketing of your rental property, if other agents are charging less or nothing, this really does reflect on the value they’re placing on the ability to lease/market your property and get you the best rent, with the best tenant in the shortest amount of time. Their level of fees reflects the importance they’re placing on it. Go with the wrong agent here and you could save some money on leasing/internet marketing fees, but it could cost you a whole lot more with a vacant property for every week it sits vacant. It cost potentially cost you up to $X.”
Understand it’s all about getting the best rent, best tenant in the shortest possible time.
Other tips to get a better internet marketing fee.
TENANTS.
A) YES - most services should be included in the Management and Leasing Fee. B) NO - additional services should be added as well on top of the management and leasing fees because we are worth it!
Should the Internet Marketing Fee be covered by the Leasing Fee?
A) YES - the Internet Marketing Fee should not be considered an ‘add on’ to the Leasing Fee. B) NO - the Internet Marketing Fee should be charged separately so we are flexible to what depth of marketing and quality we can provide.
Do you compete using service and unique points of difference and maintain your full fees, or happy to negotiate your fees when challenged?
A) YES - We are able to largely maintain our full fees despite cheaper competitors as we focus on our points of difference. B) NO - We are finding it harder to compete with cheaper agents and we will match their fees when challenged.
Today’s slides and a recording of this webinar will be available on realestate.com.au’s Agent Marketing Centre