Rekeying locks on your properties, after the tenant leaves, can get tedious and expensive, inspiring too many property managers to skip the rekeying process entirely, opening themselves up to an uncomfortable amount of liability. Enter Prempoint: A comprehensive messaging, access control, and automation software that allows property managers to manage and grant access to their properties remotely.

In this episode we're chatting with Matt Hartley co-founder and CEO of Prempoint about the newest technology in property management-keyless access. You'll learn what the Prempoint technology is, how it works, and why you absolutely can't run your business without it!

You'll Learn...

[2:20] All about Matt Hartley’s background and his work with Prempoint [4:40] The evolution of Prempoint as a company and their mission [7:35] What Prempoint is and why you absolutely need it for your properties [11:05] The interaction between tenants and Prempoint [13:25] How affordable is Prempoint? [16:00] Subscribing to Prempoint "points" [18:15] Discussing security concerns with Prempoint [22:25] How keyless access can build (or destroy) trust with your tenant [26:35] Being software agnostic: Why Prempoint outdoes the Rently competition [30:10] Software integrations [31:45] Why Matt Hartley doesn't worry about copycats [34:20] Are you in danger of being automated out of your job? [37:00] Understanding the devices and technology that Prempoint requires [40:20] Does Prempoint replace Sentrilock for relators that double as property managers? [44:35] Prempoint's launch date for managers with 1000s of doors [49:55] Benefits of keyless access for tenants [57:10] More from Matt Hartley [58:30] Connecting with the Home app on iPhone

Tweetables

If you’ve ever used Facebook, then you can definitely use Prempoint

Prempoint is a software company. We are hardware agnostic

Resources

Want to talk to Matt personally? Send him an email: [email protected]

How do you handle customers who never stop asking for a discount on your services? Learn how Darren Hunter, international property manager trainer and consultant, gracefully manages clients who ask for a reduction in fees and services.

In this dynamic conversation we outline specific scripts and techniques you can use when haggling with clients, reasons why you shouldn't take on every client, and how to build trust between you and a client without smearing your competition.

You'll Learn...

[4:00] Why a property manager is not like a printing press: Avoiding discounts on multiple properties [6:30] Having confidence in your value to your client [8:28] "The Lure of the Main Game": Techniques for when a client wants to price match your management fees [19:10] How to handle other property managers pricing themselves too low [23:00] Who are C-Class owners? [26:00] Making a filter for bad clients [28:20] Scripts and techniques for dissuading landlords and vendors from asking for discounts [33:45] The benefits of having different price points for buyers [37:35] What to say when clients ask for a "small and simple" 1% discount [45:35] Why you can't afford to take on every client [54:00] The cycle of suck [56:30] A final script for battling property manager comparisons [58:00] Building trust by revealing the "dirty secrets" of your industry [1:01:30] Why studying Australian property management is interesting for Americans

Tweetables

If you believe you’re worth it, your client will believe it too

A C-class landlord is like a packet of cigarettes. They'll take years off your life

You cannot afford to take on people that cannot afford you

Resources

Influence by Dr. Robert Cialdini

“11 Wrong Property Types That You Should Not Manage” article by Darren Hunter

The Pumpkin Plan by Mike Michalowicz

Want more from Darren Hunter? Visit his website, connect with him on Facebook, or check out his resource library.

 

Learn how Noel Christopher, Senior Vice President of National Business Development at Renters Warehouse, has mastered the art of buying and selling property management businesses.

In this interview with Noel Christopher, you'll learn what big box companies look for when scoping out new properties to purchase, how to property value your company and portfolio, making your business attractive to buyers, and how to find the best buyers for your company.

You'll Learn...

[2:15] Noel Christopher’s background in commercial real estate [3:25] Renters Warehouse [6:05] The most common mistakes buyers make when acquiring a new company [7:50] How to account for and deal with churn [9:45] Is churn inevitable? [11:00] The dangers of closing too quickly and not doing your due diligence [12:40] How to evaluate a portfolio [16:40] Creating a plan for taking over a company [18:00] The biggest mistakes sellers make [21:45] How to create a business that other people want to buy [24:00] Utilizing a company’s current employees when you take over [26:55] Creating an incentive for a business owner to transition into an employee [30:00] Working with brokerages and accidental property managers [33:00] Identifying the two types of acquisitions: Companies versus contracts [35:10] Is Renters Warehouse flat fee pricing applicable everywhere? [38:00] Finding people that are willing to sell [40:15] Letting go of the all or nothing approach [41:40] Should you use a non-compete? [42:35] How Renters Warehouse structures their transactions [44:44] Do you need a middleman to handle the deal between two companies?

Tweetables

When you buy a portfolio, you're married to the seller for a little while.

The biggest mistake a seller can make is overvaluing their company.

For people looking to buy a property management company, a great target audience are the brokerages that are accidental property managers.

It's not about the lowest price, it's about the quality of service.

Resources

Want more from Noel Christopher? Send him an email at [email protected] or connect with him on LinkedIn.

Learn how Daniel Madison,CEO of 4M Property Solutions, a residential property management company uses the techniques he mastered as a corporate sales manager to cold call For Rent by Owner prospects and close the deal.

In this interview with Daniel Madison, you'll learn why cold calling is an essential tool for property managers, how to get over the fear of getting told no, and what to say in your conversations with your prospects.

You'll Learn...

[01:15] Why is cold calling important? [03:00] How Daniel got his first 50 doors with 4M Property Solutions [04:13] Identifying the pain points of for-rent-by-owner prospects [05:10] Why picking up the phone and calling people is the best way to generate revenue [06:48] Daniel's fool-proof script for cold calling prospects [09:06] The best way to get over the fear of interrupting someone [10:30] How to overcome the biggest challenge in cold calling: Finding a source of information [13:00] Ideas for types of questions to ask your prospect to identify their challenges [17:30] The importance of giving value to your prospects [17:19] They personalize the details of your maintenance call-handling with you [19:08] Daniel's number-one goal when cold calling a prospect [21:38] Getting into the groove of cold calling [22:13] Why you should create (and stick to) a follow-up process for your clients [24:17] Techniques for keeping track of A-grade tenants [27:07] Advice and tips for new property managers [28:20] Lessons learned from hearing "no" [30:34] How to inspire your team to have the right attitude for cold calling [32:55] Power phrases to know and use [36:40] Convincing a DIY- landlord that they need your services [41:30] Getting started in cold calling

Tweetables

The quickest, easiest way to generate revenue is to pick up the phone and call people.

We all start on the level of suck.

If you're not challenged in sales then you're not going to get better at sales.

Resources

Get a free trial and 25% off FRBO lead services:https://pmleads.com/doorgrow

Free download of Daniel Madison's cold calling script: https://drive.google.com/file/d/0B1bo76y1mf3ARFNXMVMzX3lBSjl3cFJlT0RyZVo3bzNXNzFz/view?usp=sharing

Want more from Daniel Madison? Give him a call at (864) 640-8877 or send him an email:[email protected]

4M Property Solutions:http://www.4m-propertysolutions.com/

Learn about the benefits of joining NARPM from 2016 President, Bart Sturzl. In this interview, we get into the benefits of being part of NARPM, the designations you can earn (and how those can help you grow), and the importance of connecting & collaborating with your peers.

You'll Learn...

03:15 What is NARPM? 05:09 Should I attend the NARPM conference? 05:55 What benefits does NARPM provide for new property managers? 11:17 Technology is causing the PM industry to grow at lightning speed: here's how. 12:04 How can independent PMs compete with the franchise players? 15:45 The PM industry has several designations. Learn how these can help your business grow! 21:38 Discover the unique insight Bart has gleaned from being president of NARPM. 26:31 Is NARPM the best source of information on how to be a property manager? 29:22 How can I join?

Tweetables:

"We want property managers to earn more money with less time."

"Industry designations show you're a step above, and that's all that matters."

"If you want where the rubber meets the road education on PM, NARPM is the place to get it."

Resources:

The National Association of Residential Property Managers (NARPM) Website: http://narpm.org

Learn how Andy Shinn, former AAA executive and property management business owner, came to create a competitive, maintenance coordination call center in the U.S.

In this interview with Andy Shinn of EZ Repair Hotline, you'll learn about his adventure in seeking to create the premier, maintenance-coordination call-center and how they partnered up with Property Meld.

Take Our Property Meld Maintenance Quiz (and get 15% Off): https://doorgrow.com/maintenance/

You'll Learn...

01:54 What is EZ Repair Hotline? 03:00 Andy's background at AAA, starting a new PM company, & how maintenance was preventing growth 05:13 How putting his family first lead to creating EZ Repair Hotline 06:28 A savvy method for researching and testing a product/service prior to launch 08:22 How EZ Repair compares to other call center options 09:30 Their two-tier system for fielding calls that includes property management specialists. 10:39 Their connection with Property Meld 13:19 About how they only hire U.S. call reps 14:25 How his executive experience at AAA influenced their processes 16:02 How they handle non-emergency calls and prevent unnecessary service calls 17:19 They personalize the details of your maintenance call-handling with you 17:47 They will even handle getting approvals from the homeowners 18:26 Andy's experience preventing negative property management reviews by providing excellent service 19:22 They will enter work orders into whatever property management software you use. 20:11 How their efficiency & processes allow them to keep their costs lower than the competition. 20:36 Why you should leverage services that have expertise instead of trying to find one person to try to match an entire company.

Tweetables

It is a mistake to assume you can hire a single employee that could outdo an entire company that provides a low-cost service.

Property management vendors replace a single employee with an entire company that has a singular focus, tested systems, and proven processes.

Resources

Get 15% Off: https://doorgrow.com/maintenance EZ Repair Hotline: http://www.ezrepairhotline.com

 

In this episode, we revisit Property Meld with Ray Hespen after he reached out to let me know about some updates.

Now you can hand off all of your property management maintenance coordination, calls, data entry, etc. to Property Meld!

Take Our Property Meld Maintenance Quiz (and get 15% Off): https://doorgrow.com/maintenance

You'll Learn...

02:15 Background on Property Meld 03:33 Exciting new announcement from Property Meld 04:47 How much can they actually take off a property manager's shoulders? 05:58 What impact does Property Meld have once implemented? 07:04 The importance of leveraging technology to keep staffing costs low. 07:56 Focusing only on maintenance makes them more efficient at it 08:29 Common questions PM's ask Property Meld 10:04 Their typical 3-stage onboarding process 11:50 How they can help you improve your maintenance strategy and keep you informed 13:10 How they represent your business to your owner/clients 14:03 Is their call center is based in the US? 14:34 How to find out more about Property Meld 15:09 Can Property Meld actually save a property manager money? 16:21 Their competition, including Night Tenders (now SuperTenders) & Appfolio's maintenance. 17:32 Why you should ask yourself if you would rather do maintenance coordination or spend that time growing your business? 19:42 Why you should focus on technology & systems before incurring the expense of hiring. 21:45 Be sure to get a competitive advantage of getting more done with less.

Tweetables

Some property managers try to save money, but really just prevent themselves from making money.

Being cheap to save hundreds of dollars on software costs, doesn't make sense if it translates into spending thousands on staffing costs.

Resources

Get 15% off: http://doorgrow.com/maintenance/ Property Meld: http://www.propertymeld.com

Learn from San Diego real estate & property management expert about Snapchat

Learn from Salvatore Friscia about Snapchat and the benefits of branding yourself an expert & creating a personal image that is real and approachable.

 

You'll Learn...

02:09 Being innovative helped him get mentioned in a Zillow article

03:02 Marketing power and attention brought by being one of the first in his niche

03:17 Snapchat = Sexting? How social platforms evolve for business use

04:39 Gary V pushes it

04:55 What Snapchat is (in a way that actually makes sense).

06:24 You're own personal reality show

06:37 Have the intention to make it enticing and fun

07:27 Salvatore's "winning recipe" for social media

09:00 Why the 24hrs shelf-life is a benefit and is attractive

09:44 Importance of transparency in showing continuity throughout your actual day.

11:13 Stop trying to just be "professional" be real & relatable.

12:09 How Snapchat trumps other platforms - less followers, but higher engagement.

12:38 How Salvatore makes Snapchat and other social media fit into his day.

13:58 The concern of "will people find your life interesting"

15:09 Salvatore has others help him snap even during the interview

15:51 Just showcase your actual day, your real life.

16:39 How to get Snapchat followers.

18:23 Who follows Salvatore on Snapchat & does he get business from it?

19:14 How did he get featured on Zillow?

20:18 Be real - Snapchat is about reality - how it compares with Instagram

21:52 Have an intention, a purpose of benefitting your brand

23:57 Want to get good at video? Snapchat is a safe place to start.

26:01 Why we started our own Social Platform #DoorGrowClub for Property Management Entrepreneurs to connect.

27:16 Repurpose your content! Download the Story then push it elsewhere. 

Tweetables

"In property management, we're typically slower to catch on to trends than some of the other industries"

"The winning recipe is to have multiple social channels that all push people towards your favorite channel that leverages video."

"Snapchat is an opportunity for you to bring reality to the property management industry and create trust"

"You can fake things on Instagram, but Snapchat is real."

Resources

Salvatore's Company: http://SDPmanagement.com

Snapchat: http://www.snapchat.com/

#DoorGrowClub http://doorgrowclub.com

 

Learn from Steve Murray of REAL Trends about what research says about the future of property management and where it is heading.

You'll Learn...

• REAL Trends is a research firm worth following 1:51 
• The demographic shift toward renting 3:45 
• Causes for lower home ownership driving the rental increases 5:14 
• Insights from the informal poll at NARPM Broker owner conference of 600 managers 6:51 
• Factors driving a healthy long-term rental market for single-family residential. 7:29 
• Property Management industry compared to Real Estate Brokerage industry. 9:10 
• The ideal client - When property management becomes necessary for investors 9:58 
• Vacation rentals and alternatives to long-term rentals 10:54 
• There will be a lot of renters, but what about property inventory? 13:03 
• Consolidation through acquisition is a trend 13:48 
• The barrier to entry into property management low, but... 15:23 
• Staffing costs are increasing 16:51 
• Flipping vs buy and hold 19:18 
• Inventory for renters vs. the demand for rental homes 20:07 
• Property management is tough - what is the good news for the future? 20:52 
• An idea for targeting brokers 22:55 
• Property Management is an industry in its infancy that presents an opportunity 24:08 
• A novel idea for targeting developers and new homes 26:44 
• The surprising fastest growing group of renters - accounting for half of all growth in renters! 27:39 

Tweetables

"The larger you get, the better the margins."

"The barrier to entry is low for property management, but legislation, liability, and staffing costs, are increasing."

Resources

http://REALTrends.com

Learn from mental-performance life-hacker, Jameson Brandon how you can get a mental edge and dramatically increase your productivity with Smart Drugs. Tired of burning out in the early afternoon? Or going home a tapped out zombie with nothing left in your mental tank to give to your family? Want to feel “Limitless” like the movie or TV show? Listen. My personal productivity has skyrocketed.

You'll Learn

3:10 What are Smart Drugs? 3:34 The movie "Limitless" - is it possible? 7:49 Various names for smart drugs and various types. 8:41 How some nutraceuticals have been studied and used for thousands of years 8:58 Racetams created in the 60s 9:13 Entrepreneurs challenge - Shiny object syndrome 11:09 Our brain normally can only make so many decisions per day and then we get brain fatigue. 12:56 What would be the best place to start? 13:25 How to kill coffee caffeine jitters and crash with an amino acid 14:36 A natural drink combo for energy and focus 15:46 Plant-based natural nutraceuticals 17:55 Stress reduction and choline 20:16 Are these addictive? 21:36 Testing to validate what actually works 22:44 Powerful short-term and long-term memory recall 25:11 The stronger stuff you can add in next - Racetams 31:03 The best Racetam to start with and where to get it 31:46 Feeling Superhuman and how confidence is created through evidence 36:11 Increasing the effects with some lifestyle changes like meditation and a schedule 43:56 My experimentation since the original interview

Tweetables

Your brain only has enough fuel to get through part of the day. Smart drug supplements feed your brain.

Resources

Ciltep - https://doorgrow.com/go/natural-stacks/ Brain Labs Pro - http://www.mindlabpro.com/ Jameson's Free Book: http://optimizingman.com/pptsd