In 2016, a Roy Morgan survey found that Real Estate agents were one of the least trusted professions.
And let's think about it, for many agencies that offer Property Management services the primary focus of their business is to sell houses. It generates more income for the business. However, in the interest of keeping a client the secondary service for many of these agencies is property management.
But here lies the problem.
Property Management is a secondary focus. Meaning that when it comes to managing your property with full disclosure and proactive measures, sadly it's you and your property are not always top of mind.
In a day where digital technology provides the basis for many business-related conversations, it’s important to note that owners and tenants no longer want excuses, little to no action, incorrect reporting or (even worse) charging when no action has been taken.
And with this comes a level of mistrust in not just that one agency but property managers overall.
Owners and tenants are now voicing their views through social media and the need for social proof for property managers is crucial to winning over clients.
But how does an owner find the right property manager? One that they can trust and know that they will be proactive, honest and upfront with their communication.
You need to find a property manager who understands transparency is important.
And not just by claiming, “We are transparent” but by backing up their claims with actions.
These are the elements that make up a transparent property manager.
Why? Because they show you that nothing is hidden, can establish trust and that the owner’s property always remains in good hands with someone who has their investment return in mind.
But it’s not just trust that transparency can build. It can create strong relationships and an increase in moral between all parties.
Gone are the days of old where property managers did their work to little or no fluid communication and as technology continues to expand as a major form of this embracing transparency is even more prevalent than ever.
Now is the time to find a property manager that embraces this and understands how crucial it is for you and your investment.
By hiring a property manager who embraces transparency the benefits are significant. It can:
So take a look at your current property manager.
Do they DO (not just say they do) all the things we have suggested?
And if they don’t then it’s time to make the switch to a full-serviced Property Management agency who can give this and more.
Learn how Akora understands the importance of transparency when speaking to our clients at any stage of the property management journey.