DGS 56: Strategies for Rapid Door Growth

What are four pillars that successfully build and grow a business? Transparency, value propositions, stellar customer service, and aggressive pricing.

Today, I am talking with Scott Brady. Despite being told by everyone to not become involved with the “Toilets, Tenants, and Troubles” of property management, Scott started Progressive Property Management in 2012. In a short period of time, he has grown his business phenomenally by rebuilding his website, marketing, and company to target self-managing investment property owners.

You'll Learn...

[05:38] Seekers are just starting out in property management; they get stuck by doing everything on their own instead of using marketing dollars effectively to hire others. [07:23] Scott built his company of the four pillars to make the floodgates open for generating leads; set up virtual offices and branches to help handle workload. [09:05] Real estate used to be a structured business, so the challenge was knowing how to get doors; SEO and ads are used to get doors for realtors to buy. [11:11] Scott is willing to pivot quickly when things are not working; focusing on resolving problems by adding doors, agents, and investors has helped him deal with changes. [14:35] Conducting product research and talking to clients is important to know what they want and need; serve as resource with connections to help them with pain points. [17:55] Embrace mutual affection marketing; clients need to know, like, and trust you before they will hire you - build and maintain those relationships. [19:20] Legislation is a constraint that drives innovation and need for property management; turns you into being more relevant to property owners and landlords. [20:37] Property management is a complicated business, position yourself as an expert. [21:56] Spend money on what works for you - whether it’s seminars, direct mail, etc. [25:13] To get your first 100 doors, test different marketing channels to find out which gives you the best return and connect with experts, such as Scott, for pearls of wisdom. [28:50] Property management offers multiple streams of revenue: Management, real estate, maintenance, etc. [29:25] Create market share to help people recognize problems and how to handle them. [36:08] Growth is not the problem - it’s covering marketing area geographically, and finding the right agents and training them properly. [36:45] In-and-Out Model: Hire the ding-and-dented to sell them on a path of opportunity - going from front desk to branch manager; no fear of losing employees. [40:30] Create marketing messages and lead magnets that pivot to: Do you.... [46:13] Constantly try to improve your marketing, sales, processes, and operations; embrace the suck by trying something new and different.

Tweetables

How hard is property management, right?! I’ve made every mistake in the book.

My definition of Hell is 100 doors.

Businesses only exist to solve a problem. We get paid to solve and fix problems.

Resources

Progressive Property Management

Seminar in a Box

Scott Brady Email

NARPM

Bluefishing: The Art of Making Things Happen

DoorGrowClub Facebook Group