Property Management Mastermind, Welcomes Andrew Reece, Co-Founder of Inspect Real Estate. He built a property management company in Australia from scratch and transitioned that into property management software to further industry development. We are lucky enough to have Andrew as a keynote speaker at the Property Mangement Mastermind Conference in March of 2020.
Andrew went to university for accounting. Once he graduated, he became an accountant for realtors and real estate agents. He was involved in bringing the ReMax franchise to Australia, which was his entry into real estate as an accountant for the real estate industry. He opened up his agency, ProRentals, with 31 properties under management and grew that to 1756 within ten years.
Listen for a sneak peek of what Andrew is going to present during his class at the Property Mangement Mastermind Conference. It’s a well-known fact that the US is about ten years behind Australia in the real estate industry, and Andrew is the one to help get everyone up to speed. He is going to let everyone in on what has worked for him, what didn’t, and how his property management software can be an asset.
They discuss the differences between property management in Australia and the United States, the regulations, and how much harder it is to get a lender to here in the states. They do roll playing with a script that Andrew’s team uses to get owners that self rent to discuss using a property management company and the value they bring.
Andrew speaks about how they developed the industry tracking software and how it has evolved into the tracking mechanism for all facets of management. He talks about how it helps workflow from maintenance requests to vendors to knowing the job is, and this is just a small part of the whole program.
This episode is one of a kind, and we are fortunate to be able to talk to Andrew and fortify ourselves with knowledge from someone who started as an accountant and now has over 2500 offices that focus on Inspectrealestate.com.au. Grab a pen and paper because you will want to take notes as you listen.
Show Notes
[02:53] Welcome to the show, Andrew!
[03:24] Andrew gives us a brief rundown of who he is, what he does, and why he does it.
[06:20] Andrew discusses the software they developed and how it has grown.
[08:03] They discuss their maintenance software that helps the workflow side.
[09:16] Andrew talks about a tracking device they have on the keys to make sure they have been properly checked out.
[10:17] He chats about all the ways they track leads, sales inquiries, and other sources to stay on top of any business leads.
[13:13] Andrew discusses what his presentation will be about at the conference.
[16:05] They examine the deck of cards with tips on how to follow up.
[18:50] Andrew discusses the financial calculators that are on his website and how they work.
[20:33] How much are selling for in New Zealand and Australia?
[23:15] He talks about the rent roll lenders in Australia and the difference between the two countries.
[25:45] Andrew chats about how they began developing the software and how it increased their business.
[27:40] What do we have here in the US that you don’t have in Australia?
[28:44] What do you have in Australia that we don’t have here in the states?
[31:48] They roleplay renting a property. Andrew shows Brad how he gets the owner to use a property management company.
[35:39] Andrew speaks about the other stuff he is going to talk about at the conference.
[38:13] What motivates you? Money? Time off? Competition?
[39:35] Thank you for being on the show today!
Links and Resources:
Property Management Mastermind
Property Management Mastermind Group on Facebook
adisarro@sccombank.com
(619) 988-6708 (Allison DiSarro from Seacoast Commerce Bank)
(918) 728 8992 (Derek Scott with Insurance Management Group)
NARPM Southern States Conference
National Apartment Association
For the Property Management Mastermind Conference information https://pmmcon.com/
For the Business Development Mastermind Seminar https://www.eventbrite.com/e/bbc-business-development-mastermind-tickets-70402370385
In this episode of Property Management Mastermind, Brad welcomes Kevin Knight. Kevin is the President of Liberty Mangement Inc. He, along with his partners, brought the SureVestor insurance program to the United States from Australia. As a property manager for over 20 years, he is very excited to offer this product to his customers.
This program covers what owner's insurance does not and helps alleviate the fear of malicious damage and unpaid rent that owners feel when they hand over their property to renters. This also benefits property managers because it can only be purchased through a property management company, owners do not have access to it any other way.
Kevin believes that this insurance is something that addresses what owners want, and it is so easy that marketing is a breeze. With the rental market, the way it is the ability to offer something so diverse might make the difference when trying to pull in the self-managed landlords.
Brad and Kevin discuss the PM health group and encourage all property managers to take the time to be as healthy as they can. Kevin says, "the best way to improve your business is to improve your health," which is why SureVestor is sponsoring ten individuals for the 5K run/walk at the NARPM National Conference.
If you are trying to grow your property management company, this is an opportunity you won't want to miss. Listen in to find out about this new way to give your business a boost with a program that benefits all involved. Kevin is so excited about this that he will get you fired up as well. So get ready to be inspired to expand your business.
Show Notes
[02:29] Welcome to the show, Kevin Knight!
[03:27] Kevin tells us about the insurance program called SureVestor.
[05:45] They discuss the Australian rental market and how different it is from the U.S.
[06:51] For more information about this program, go to www.SureVestor.com.
[07:45] Kevin speaks about owners needing to use a property management company to be able to purchase this program.
[09:17] Brad talks about Kevin losing 50 pounds and being part of the PM health group.
[09:42] Kevin chats about being at NARPM National Conference and SureVestor, sponsoring 10 people in the 5k walk/run.
[10:45] Kevin tells us his recommendations for the implementation of the SureVestor insurance product?
[13:52] Lloyds of London is the company that is underwriting the insurance for SureVestor.
[15:48] Kevin speaks about the hard hitters he has coming in for the NARPM National Conference.
[16:43] Because of the rules and regulations we have now in the states, it is getting harder for individuals to rent properties.
[18:45] Kevin says that there will be a film crew at the conference for property managers to film intros.
[19:34] Brad talks about the relationship between vendors and attendees at the Property Management Mastermind Conference in March 2020.
[21:37] The best way to improve your business is to improve your health.
[24:04] Kevin believes this insurance addresses what owners want, and it is so easy.
[25:37] If the owner wants this, how does a property manager request this insurance? Is there a portal?
[27:49] How much does something like this cost? Are there different options?
[29:22] It makes your property management company more like to get business if you offer the insurance, and others don't.
[30:30] The key to selling this is marketing and the opt-in and opt-out form.
[33:24] Brad discusses the BizDev seminar for more information go to www.bizdevseminar.com.
[35:45] Kevin talks about pulling in self-managed landlords with the SureVestor product and how much business is out there for property management companies.
[38:44] What is something else about SureVestor that you are excited about?
[41:10] Kevin's last thoughts about coverage and letting your current owners know about the program.
Links and Resources:
Property Management Mastermind
Property Management Mastermind Group on Facebook
adisarro@sccombank.com
(619) 988-6708 (Allison DiSarro from Seacoast Commerce Bank)
(918) 728 8992 (Derek Scott with Insurance Management Group)
NARPM Southern States Conference
National Apartment Association
For the Property Management Mastermind Conference information https://pmmcon.com/
For the Business Development Mastermind Seminar https://www.eventbrite.com/e/bbc-business-development-mastermind-tickets-70402370385
Property Management Mastermind welcomes John Higgins to the show. John is the Co-Founder and CEO of Steady. They offer a customized insurance product to landlords and property owners to offset the cost when tenants default on their leases. It is in 35 states right now, and they are working on adding the remaining states as quickly as possible.
John discusses how their product can be monetized, how it is being offered, and whom the product is designed to benefit. He talks about how easy it is to implement this insurance, the technology behind the pricing, and how to find out who underwrites it for them.
If you are looking for a new way to offset the risk that is hardwired in the property management industry, this is the episode for you. Get a pen and paper ready because you will want to jot down some of the high points of this conversation.
Show Notes
[02:53] Welcome to the show, John Higgins!
[03:35] John starts by telling us a little about himself and his company.
[05:58] They discuss the legislation that is being passed to protect tenants in the U.S.
[07:56] John’s company is now in 35 states, and they are working on adding the remaining states.
[08:59] He speaks about his company and gives us a description of what they do.
[10:52] Can you monetize this? How is it offered?
[12:24] It is designed to benefit property managers as well as small landlords.
[15:59] Is their any insurance licensing required? Would it help them to be licensed?
[18:43] John chats about property managers selling the coverage in a package to landlords.
[19:15] Can you buy it as a one-off? Do you have to buy it as a package?
[20:17] Steady provides the framework so that anyone can implement this program.
[20:43] The pricing depends on the property location; they use technology to individualize the rates.
[23:33] The underwriting for their policies is a very reputable company, to find out more information go to www.steadymarketplace.com
[24:38] Why would you want to engage with Steady?
[27:10] To get in touch with John, him at John@steadymarketplace.com
[29:03] John’s final words.
Links and Resources:
Property Management Mastermind
Property Management Mastermind Group on Facebook
adisarro@sccombank.com
(619) 988-6708 (Allison DiSarro from Seacoast Commerce Bank)
(918) 728 8992 (Derek Scott with Insurance Management Group)
NARPM Southern States Conference
National Apartment Association
For the Property Management Mastermind Conference information https://pmmcon.com/
For the Business Development Mastermind Seminar https://www.eventbrite.com/e/bbc-business-development-mastermind-tickets-70402370385