Thought Leaders – Real Estate Re-imagined (formerly The Elevate Podcast) Value not fees: Jo Oliveri on how to grow your PM department, navigating the fee conversation, and creating results that demonstrate value
This episode of the Elevate podcast is brought to you by Connectnow
When it comes to property management, there’s often a client misconception that all agencies are the same. And that inevitably leads to the dreaded conversation about fees.
So, how can you clearly define your point of difference, highlight the value that you offer, and shift the conversation from fees to the value you provide?
This Elevate podcast with property management expert Jo Oliveri takes a deep-dive into just that.
It’s a masterclass on defining your point of difference, and creating consistency that leads to results which demonstrate your value to clients.
To showcase just how that’s done, Jo draws on key lessons from major corporations like Disney and McDonald’s, looking at how they create a customer expectation and then implement processes and procedures to meet that expectation each and every time.
And, of course when it comes to property management, Jo Oliveri is an industry expert.
With more than 30 years experience in the field, she has coached business leaders and property managers both here and in the US to help them build property management departments that are efficient, effective, and primed for growth.
In this interview, she shares why and how property managers need to change their thinking to embrace service and accountability, along with the best ways to build a property management department that can scale while still offering exceptional service.
Jo also walks through exactly where she would focus her attention if she were starting a business right now, the conversations she would have with prospective clients, and how businesses can shift from being ‘desperate’ to ‘deliberate’.
“You will always get the people who are willing to pay a fee for service and results, but if we don’t know how to communicate that, then they don’t know what to expect from us.” Jo Oliveri
Samantha and Jo also discuss:
- Why there’s a place for every type of agency in the property management industry, including disruptors, but competing on that playing field is all about knowing your ‘why’.
- What property management can learn from airlines, hospitality and hotels when it comes to defining your place in the market and the value you provide.
- Why there’s a lot to be learned from McDonald’s and Disney when it comes to both customer expectation, and the processes that provide a consistent result
- What clients really want from their property manager, and why it’s all about consistency, security and true market knowledge.
- Jo’s top tips on navigating the fee conversation, including why you should never apologise for fees but instead demonstrate unique service and value.
- How to find your point of difference and the conversations to have with clients that clearly illustrate the results you provide.
- Where the industry goes wrong when it comes to creating customer expectations and how you can fix this to have happier clients and a happier team
- How to create a property management business structure that is primed for growth, attracting new clients as well as retaining those you already serve.
- Why the property management industry needs to shift its mindset to service, accountability and incentives and how that will create ‘magnificent’ change.
And much, much more.
Links and resources mentioned
Jo on Elite Agent
- Why Walt Disney is my inspiration
- Win the cost war
- Investing in you
- 5 steps to long-term business growth
- 5 trends to look for in property management
- Technology won’t necessarily get you results
- 7 steps to designing your ideal business
- Which structure is right for you?
- Relationships, not transactions
- What is business by design?