186: 600 Doors in a Year - The Inside Story with Yoni Schmidt
Nov 22, 2023
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Yoni Schmidt, VP of Sales at KeyRenter Property Management, discusses finding and developing successful salespeople, lead generation tactics, effective communication with clients, and his achievement of scaling from 0 to 600 doors in Oklahoma City. They also touch on the importance of understanding ROI and aligning incentives, adding value to referral partners, and getting an 80% response rate increase with improved messaging.
Understanding ROI, systems, and alignment of incentives is crucial for building trust with owners.
Utilizing immediate text messages and personalized communication enhances the client's experience and builds trust.
Deep dives
Managing a team of BDMs and scaling across multiple markets
Yoni Schmidt, from Key Renter Oklahoma City, discusses managing a team of Business Development Managers (BDMs) and successfully scaling operations across four different markets, growing from zero to 600 doors in a year.
The importance of understanding the company's systems and services
Yoni emphasizes the significance of having a deep understanding of their property management company's fee structure, services, systems, and processes. This knowledge is crucial when building trust with owners, especially accidental landlords who are entrusting their valuable assets to property management companies.
The unique approach of hyper-communicative and ROI-focused management
Yoni discusses the company's unique approach, which focuses on hyper-communicative property management operations and being ROI-focused. By providing real-time communication, quick response, and aligning the company's fee structure with the clients' incentives, they aim to ensure transparency, success, and long-term partnerships with the property owners.
The importance of speed and personalized communication
Yoni highlights the significance of speed in responding to leads and the value of personalized communication. By utilizing immediate text messages and embedded videos, they aim to strike when the iron is hot and provide a personalized touch to enhance the client's experience and build trust.
Jordan interviews Yoni Schmidt, VP of Sales at KeyRenter Property Management, about leading sales teams and driving growth across multiple property management markets. They discuss finding and developing successful salespeople, lead generation tactics, communicating effectively with prospective clients, Yoni's ramp from 0 to 600 doors in Oklahoma City, and more.
Key Moments
The importance of understanding ROI, systems and alignment of incentives to build trust with owners (6:52)
Tactics for adding value to referral partners like real estate agents (13:44)
Guidance on ramp up time and expectations for new BDMs (20:19)
Getting an 80% response rate increase to initial outreach texts by tweaking the messaging (29:32)
Currently at 2,600 doors spread across 4 markets, with 700 doors in OKC which launched just 3 years ago (32:18)
For additional content, subscribe or go to The Profitable Property Management Podcast website by visiting www.profitablepropertymanagement.com to access a growing library of videos related to scaling your property management company.
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