Today’s show is sponsored by LeadSimple and Fourandahalf. Together, they’ve come up with one of the best conferences for property managers, called the PM Grow Summit. This event is laser-focused on growth strategies and brings together some remarkable thought leaders from around the country. I attended last year and was thoroughly impressed all around -- and that was just their first year! The next conference will be in San Diego in 2018, and I’ve already booked my spot. Go to pmgrowsummit.com to learn more, and enter promo code “Brad” to get a $100 discount on your ticket!
We’re also sponsored by Marc Cunningham of Grace Property Management. Marc has created some amazing products for property management companies, which we can say firsthand as we’ve implemented his systems here. Visit their website and try out their products! To get a 10% discount on any of Marc’s products, use the promo code “Brad”!
I have a particularly remarkable guest on the show for you today. Greg Doering is the Regional Vice President for NARPM in the Central Region, which has 10 chapters across more than a dozen states. He’s also the owner and founder of GDAA Property Management, located in the North Austin (specifically Round Rock) area.
Since Greg has been a NARPM member for around a decade, he knew the ins and outs of the organization even before he became Regional Vice President. If you’ve listened to this show before, you’ve probably heard about NARPM at least in passing, but this episode is your opportunity to learn about the remarkable organization in depth from this long-time member who has ascended its ranks!
Greg will talk about some of the ways to get involved with the leadership of NARPM, including sharing his own story. He also describes the benefits that can come from helping to lead NARPM (which is a volunteer rather than a paid position). Some of these benefits, as he’ll point out, aren’t limited to the organization’s leadership.
With that said, we don’t only talk about NARPM. Greg describes what it’s like to work with his brother Jeff, who joined the company recently. We clear up some misconceptions about virtual assistants. Greg describes some of the changes and innovations that he’s seen in the property management industry, and finishes things off with an inspirational message about why change is a good thing.
Here’s where you can find Greg:
Show Notes
[02:57] - Greg starts things off by introducing himself and telling listeners a bit about what he does.
[03:45] - Brad explains some of the reasons that he invited Greg onto the show.
[04:36] - Right now, the biggest challenge that Greg is facing with his company is staffing. He describes some of the specific difficulties.
[06:04] - What have Greg’s plans for growth been this year? He answers, then discusses how the company has transitioned into one in which people have specific tasks and roles, instead of doing everything.
[09:58] - Greg describes the single most important lesson that he learned during his company’s growth and transition period.
[11:01] - Brad takes a moment to make sure listeners understand the acronyms that Greg has been using.
[12:24] - What advice would Greg give someone working their way up through the ranks of NARPM?
[14:02] - Greg discusses how the auditing system works after you’ve submitted your packet and checklist.
[15:59] - What are some of the innovations that Greg has seen, or done himself, in the last six months or so?
[17:17] - Brad steps in to clarify some common misconceptions about virtual assistants.
[18:47] - Greg discusses the dynamic involved with his brother, Jeff, recently entering the business.
[21:12] - The reality of working with his brother is that they still enjoy each other’s company despite seeing each other at work and many weekends, Greg explains.
[22:46] - Greg talks us through his ascent through the ranks of NARPM, of which he’s been a member for around a decade.
[24:29] - Greg goes into more depth about the process of becoming a regional leader in NARPM.
[25:53] - We learn what Greg’s current role in NARPM entails, and how long the term lasts.
[27:05] - Greg discusses what he envisions as where he’s going and what he hopes to do by the end of his two-year term. He and Brad then talk about the rapid changes in the industry over the last few years.
[30:00] - Last year, Greg had less than 20% of the inventory condition forms returned, he reveals.
[31:08] - What are the benefits of being involved in the leadership of NARPM, since it’s a volunteer position?
[33:30] - Greg reveals that NARPM’s major events are about to go through some big changes, and offers some insight into the types of changes to expect.
[35:35] - The majority of the vendors that Greg uses regularly have all come from the NARPM trade show.
[36:14] - The industry is getting ready to change, Greg explains, and he’s excited because change creates opportunity.
Links and Resources:
Today’s show is sponsored by LeadSimple and Fourandahalf. Together, they’ve come up with one of the best conferences for property managers, called the PM Grow Summit. This event is laser-focused on growth strategies and brings together some remarkable thought leaders from around the country. I attended last year and was thoroughly impressed all around -- and that was just their first year! The next conference will be in San Diego in 2018, and I’ve already booked my spot. Go to pmgrowsummit.com to learn more, and enter promo code “Brad” to get a $100 discount on your ticket!
We’re also sponsored by Marc Cunningham of Grace Property Management. Marc has created some amazing products for property management companies, which we can say firsthand as we’ve implemented his systems here. Visit their website and try out their products! To get a 10% discount on any of Marc’s products, use the promo code “Brad”!
On the show today, I’m joined by Angela Gonzales and Erin Landis from Moxie Property Management out of Fort Worth (near the Dallas, Texas area). Erin and Angela started the company just a couple years ago, so it’s still in its infancy time-wise, but they’ve already accomplished some remarkable things. As they put it, the company actually operates in dog years!
One of the reasons I wanted to have Angela and Erin on the show is that they’re doing some different things that you might not have seen in other property management companies. They don’t hesitate to think outside the box, as you’ll hear in our conversation today. For example, part of Moxie involves doing consulting work for other companies and helping them manage their properties, meaning that they’re far more than just a strict property management company.
In addition to talking about their consulting services and how they seamlessly blend these with their own property management, Erin and Angela discuss topics such as how they’ve grown their company so quickly, how they got started, why they realized they don’t need a third partner, their roles in NARPM, and the tools they use to stay in communication with each other, their clients, and their tenants.
Here’s where you can find Angela and Erin:
Angela Gonzales on the Greater Fort Worth Association of REALTORS
Moxie Property Management on Facebook
Show Notes
[02:36] - Erin and Angela start things off by introducing themselves.
[03:06] - We hear about how Moxie has grown so large in such a relatively short time, with Angela explaining how she and Erin met and got started.
[06:52] - What were some of the challenges that Erin and Angela came upon when they decided to step out and doing everything themselves?
[08:06] - Erin is doing some coaching for AppFolio soon, partly because she has been using the software since 2009. Angela then talks about how difficult the business would be to run without Erin on the financial side.
[10:03] - Brad shifts to a tangent about something he learned on the NARPM listserv about full-month accounting. He, Angela, and Erin then discuss how this type of accounting works along with its pros and cons.
[14:16] - Angela discusses the consulting side of the business.
[16:15] - The places we’ve been hearing about are in outlier areas, we learn, with Angela describing what they do as a “if you build it, they will come” scenario.
[17:26] - We take a deeper dive into the consultancy side of Moxie, learning what exactly that entails and how that side functions.
[19:40] - Angela and Erin use Evernote, we learn. It’s also helpful for communicating with their clients.
[20:27] - We hear about the division of labor at Moxie.
[22:45] - Part of hiring really great people is that they have ambition above the position they’re hired at.
[24:04] - Erin explains more about the details of how their consultancy works, and the ways in which it was like entering into a marriage.
[25:51] - Brad dives into the topic of the service items offered by Moxie. We hear about what it takes to add a consulting aspect to your property management business.
[27:35] - Erin points out that a big part of what they do is cleaning up old accounting, which is something they could take nationwide.
[30:04] - A lot of what Erin does is just auditing what a company has done up until now, she explains.
[31:21] - Brad is developing an annual business health report.
[34:19] - It’s not so much that good members of NARPM are perfect so much as that many others do lots of things wrong, Brad points out.
[35:52] - If Angela and Erin could do everything all over again with Moxie, what would they do differently the second time around?
[39:08] - Erin is the treasurer of the greater Fort Worth area NARPM branch, and Angela is working with the organization on the state level. Erin and Angela then discuss work-life balance and the experience of having careers as women.
[42:32] - While Angela’s son is a teenager now, Erin’s family is younger. She describes what it’s like to work from home under these circumstances.
[44:30] - Brad talks about his “good idea fairy” concept, then shares a cool concept he has recently implemented with listeners.
[46:49] - Moxie has been using Rently for almost two years now, and have been finding that it results in better tenants overall.
[49:24] - We learn that Brad got rid of his dropbox when he moved to the new office.
[50:09] - Erin talks about how one of their older residents (who is over 80 years old) took some extra coaching to make electronic payments instead of dropping off a money order or other paper payment.
[52:01] - Brad discusses the role of virtual assistants and how it’s changing in the industry as time goes on.
[52:49] - Do Angela and Erin have any other “good idea fairies” that they want to share with the audience?
[54:56] - Moxie’s application fees are nonrefundable, but they are transferrable to other properties, we learn.
[56:38] - The mortgage industry took in 36% fewer applications for mortgages this year than last year, Brad reveals. This means that more people are going to be renting.
Links and Resources:
Angela Gonzales on the Greater Fort Worth Association of REALTORS
Moxie Property Management on Facebook
Today’s show is sponsored by Marc Cunningham of Grace Property Management. Marc has created some amazing products for property management companies, which we can say firsthand as we’ve implemented his systems here. Visit their website and try out their products! To get a 10% discount on any of Marc’s products, use the promo code “Brad”!
We’re also sponsored by LeadSimple and Fourandahalf. Together, they’ve come up with one of the best conferences for property managers, called the PM Grow Summit. This event is laser-focused on growth strategies and brings together some remarkable thought leaders from around the country. I attended last year and was thoroughly impressed all around -- and that was just their first year! The next conference will be in San Diego in 2018, and I’ve already booked my spot. Go to pmgrowsummit.com to learn more, and enter promo code “Brad” to get a $100 discount on your ticket!
That description of the upcoming conference is a perfect introduction to today’s two guests, Alex Osenenko and Jordan Muela. Together, they represent the two companies coming together to put on the summit, with Alex coming from Fourandahalf and Jordan coming from Lead Simple.
Of course we’ll talk about the summit in depth, with Alex and Jordan going over some of the remarkable speakers who will be attending, talking about the venue, and explaining why the weather alone should be a persuasive reason to attend!
Before that, though, we talk about many other topics relevant to anyone in the property management industry. We start off with a discussion of LeadSimple and its value for property managers in terms of efficiency, then cover various recent and upcoming trends within the industry. We address fee maximization and discuss the fact that customers are increasingly happy to do their showings themselves. Tune in for all this and much more with these two influencers in the property management world!
Here’s where you can find Alex and Jordan:
Show Notes
[02:56] - Alex gives us a quick intro to who he is and what he does.
[05:23] - Brad chimes in to tell a quick story about his first attempts to implement LeadSimple, and his return to it later.
[06:02] - Jordan tells us about who he is and what he does, explaining that he’s the CEO of LeadSimple.
[06:59] - One of the things that Brad likes about LeadSimple is that it prompts you with a list, allowing his staff to work straight off that list every day.
[09:36] - We hear a reminder that the consumer has different criteria than we have as experts in the property management industry. We also get advice on what to do once someone requests the analysis that Brad has just been talking about.
[12:41] - Brad explains that the part of his website that talks about free market estimates shows the graphic that people are going to get, which improves his capture rate.
[15:30] - We learn about how inbound call tracking and texting can function within the process that Brad, Alex, and Jordan have been talking about.
[16:52] - Brad shifts us to different trends, bringing up the topic of fee maximization.
[18:07] - Alex has been thinking a lot about fee maximization lately, he reveals, and shares his thoughts and perspective on the topic.
[19:49] - How does Brad set his pricing? He answers, and then offers a tip to listeners about using a flat-fee, tiered pricing system instead of percentages.
[21:33] - Brad steers Alex and Jordan to talk about the conditioning of customer expectations in terms of not needing to talk to anybody and have privacy.
[25:33] - Does Brad know offhand how many states what he’s been describing about co-brokering is relevant for?
[26:32] - Alex points out that the one-star reviews that every property manager gets are from tenants who never got a showing.
[28:00] - Brad admits that a lot of property managers, including himself sometimes, are very hesitant to implement things.
[30:38] - You’re often competing against the status quo, Jordan explains.
[32:17] - Brad transitions to talking about PM Grow Summit, offering Alex the opportunity to explain why this is such a valuable event and resource for property managers.
[36:07] - We hear about Brad’s personal experience at last year’s PM Grow Summit, in terms of both having a great time and making valuable connections with people he still speaks with today.
[37:30] - Alex and Jordan spend a huge amount of time vetting and interviewing potential speakers for the summit.
[39:06] - We hear more about the personal development aspect of the summit.
[41:46] - The venue for the summit is the US Grant Hotel in sunny San Diego, which should be a pleasant relief in terms of temperature in January!
[43:40] - We learn about the impressive caliber of speakers who will be present at the summit, with Alex and Jordan listing a few of the most noteworthy speakers and talking about their qualifications and areas of expertise.
[53:13] - Where can listeners learn more about the PM Grow Summit? At pmgrowsummit.com for the upcoming event, or at 2017.pmgrowsummit.com for last year’s event.
Links and Resources: