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Why is there a critical shortage of Property Managers?
Residential property management can be a rewarding as well as a challenging career choice, but it’s no secret that quality property managers can be difficult to find. This sector of the real estate industry has experienced a consistent shortage of quality, experienced property managers for several years now, leaving many real estate businesses struggling to maintain and grow their rent rolls. So why the relentless shortage?
Many in the industry would argue that until recently, property managers have been underpaid comparative to roles with similar levels of responsibility in other industries. This has been one of the
causal factors of a consistent market shortage of quality job candidates in this area, as it is more challenging to attract people from outside of the industry to make a career change, with many considering it a less than attractive long-term career choice due to lower long term earning potential.
Smaller agencies often lack the time and resources needed to train up inexperienced staff, meaning they need to hire experienced people who are ready to hit the ground running. This creates a plug early on in the career pipeline for property managers, making it hard for inexperienced people to progress and is another contributing factor to the high demand/low supply issue.
The good news is there are positive changes on the horizon for the property management industry and improvements have already arrived.
The changes are:
- Salaries are up!
The last five years has seen an increase in salaries for property managers, due to a range of factors including a shortage of quality staff and an increased focus on property management department growth. Property management has traditionally attracted relatively low salaries compared with other industries. We’ve noticed a significant increase in salaries in that time (it was needed!) ·
- New Technology
There has also been an improvement in the variety and quality of software available with most property managers using mobile/tablet apps to conduct inspections, opens and for database management. This has helped to reduce administration and automate time consuming processes.
- Property Management Licensing
The arrival of property management licensing in South Australia will bring improved quality and accountability to the sector, requiring property managers to undertake additional training to become licensed by the due date of September 2019. Whilst most in the industry agree that the new laws are a positive for the industry going forward, in the short term they may exacerbate the shortage of property managers in the market, as some will choose not to undertake the additional study and leave the industry.
However this also offers opportunities for proactive individuals looking to build a career in property. Mary-Jane Massicci, senior recruitment consultant at Edge Recruitment says ‘property managers who are proactive and get their license completed early will have better opportunities to advance their career.’
Five years ago property managers were regularly being paid salaries of mid $40k’s. Today, a quality residential property manager with around 2-3 years’ experience can command mid $50k’s plus super and car allowance, with more experienced residential property managers attracting $60 - $65k plus super and car allowance. A better level of pay gives the industry the ability to attract quality employees from other industries who have already built skills in client service and administration, along with resilience and conflict resolution.
This market correction of salaries, together with greater regulation and support from the industry are positive steps that should see an improvement in the availability of quality property managers going forward.
Women in Property Morning Tea BOOKED OUT
Tickets to this event has now sold out. If you missed out on getting a ticket, we hope to see you at our next Women in Property event in September.
Join Edge Recruitment and friends at Adelaide's premier networking event for women in property. Take in the lovely surrounds at The Jarmer Room, enjoy fabulous networking, savour a delicious morning tea (mini granola jars, pastries, croissants and fresh fruit), whilst raising funds for charity. $20.00 from every ticket will be donated to the Cancer Council.
GUEST SPEAKER: REBECCA MEZZINO
Hear from Adelaide's most experienced and accredited professional organiser, Rebecca Mezzino. As co-owner of Clear Space Organising Services, Rebecca helps people all over Australia improve their lives, both at home and work. She will guide you through 5 simple habits you can create to simplify and de-clutter your life.
Raffle prizes will be on offer, so please bring some change!
Thursday 17th May, 9.30 - 11am
($20 from each ticket goes to the Cancer Council)
Parking is available in the carpark adjacent to Jarmer's Kitchen or in the Plant4 carpark. On street parking is also available in the surrounding streets.
For further information about this event contact us on 8232 2220 or email email@example.com.
20 Good Deeds to Celebrate 20 Years
To celebrate our 20th anniversary this year, we'll be giving back to the community by doing 20 good deeds throughout 2018. We'll be donating our time, creativity and knowledge to charitable and community organisations.
- Dressed for Success;
- The Cancer Council; and the
- National Breast Cancer Foundation.
Get ready to see some inspiring, heartfelt and funny deeds, all in aid of great causes. It's our way of saying 'thank you South Australia.' Stay tuned!
If you'd like to suggest a good deed, feel free to email firstname.lastname@example.org with your idea.
Back to School for Property Managers
If you’re in the property management sector you’ve no doubt heard that property management licensing has finally arrived in South Australia. The Department for Consumer and Business Affairs (CBS) has announced details of the registration requirements for residential and commercial property managers operating in South Australia. Here’s what you need to know.
For property managers, this means completing designated property management training and becoming registered or ‘licensed’ as a property manager with CBS by the due date of September 2019. There will be multiple Registered Training Organisations (RTO’s) offering training including the Real Estate Institute of SA (REISA) who begins their program in late March/April.
Paul Edwards, Policy and Legislation Advisor for REISA provided his comments on the changes. “We’re looking forward to the increased transparency and professionalism of an already professional industry sector.” He explained that recognition of prior leaning (RPL) is available to any property manager who can provide evidence of their knowledge of a given subject. However, it’s worth mentioning that approved RPL requires a substantial amount of detailed paperwork to be submitted. Paul suggested that if you are someone that keeps immaculate records, this may work for you, but if not, you may want to consider the time required to prepare RPL records.
What does this mean for employers?
We spoke with Daniel Richardson, Managing Director for Lead Estate Agents for his thoughts on how employers will be impacted by the new laws. “It is frustrating that my senior property managers with existing qualifications will have to undergo the additional training. However, despite these frustrations, holistically, I think it’s a good thing for the industry. It will improve the quality and accountability of the profession in South Australia.
From a recruitment perspective, property managers that attain their licence early will be more appealing to employers than those that don’t have their licence.”
What does this for mean property managers looking for jobs?
Kelly Armstrong, Senior Recruiter at Edge Recruitment says ‘if you’re looking to change roles in 2018, I’d suggest having a plan in place for completing your training. Even if you don’t have your full licence when applying for jobs, it shows potential employers that you won’t be leaving it to the last minute."
How much will it cost and who pays?
There are approximately 4000 property managers currently operating in SA who will need to gain their property management licence. To complete all units of the training without any RPL will cost about $1000-$1200, depending on the RTO. As mentioned previously, property managers may be able to complete some units of their training by applying for RPL through their RTO.
A variety of factors will affect who pays for the training including; how cemented a staff member is within the business they work for, length of employment, size of the business etc. Many property managers will be paying for it themselves, whilst some employers may offer part payment for the training costs. Our feedback has been that it will vary from employer to employer.
CBS have provided a full list of the training units required to become registered. For further information about training and RPL for the property management license, contact REISA on 8366 4300 or visit the REISA website.
Don’t fret, there’s plenty of time to get the required training completed, however we recommend having a plan in place going forward.
The difference between experience & qualifications
Those of you on the hunt for a career change this year have no doubt scanned the SEEK ads and found lots of different jobs on offer with varying roles. When it comes to real estate jobs, the ads are littered with the words EXPERIENCE and QUALIFICATIONS. This can be extremely frustrating if you don’t have either – it’s a real dilemma faced by many candidates. Let’s put some clarity around these terms…….
This is usually the Government requirement you must possess for you to enter a specific real estate role. For example to be employed as a real estate sales representative, the minimum qualification is the Real Estate Sales Representative licence course. This is known throughout the real estate profession as “Cert IV” or “Certificate IV”. Having this qualification gives candidates a massive advantage. In fact, almost all real estate business owners - the employer, will not consider candidates who do not possess this qualification.
Having this qualification will assist you in applying for the following roles:
- sales representative (sales consultant),
- personal assistant,
- buyer manager,
- client liaison,
- sales administrator,
- office manager; and
- sales manager, just to name a few.
Having the qualification gives you the “ticket” to legally perform a task.
When a job ad calls for you to have “experience” in a certain role, the employer wants to know whether you have performed the tasks successfully in the “real world”, or will you need further on-the-job training and guidance. Sometimes an employers may compromise on this requirement to secure the right candidate who has the qualifications. If you show a degree of self-confidence (not arrogance) and persistence, the employer will offer the right candidate “on-the-job” training which will build the candidates experience quickly.
PERSISTENCE AND RESILIENCE ARE THE LAST KEY ATTRIBUTES YOU MUST POSSESS
I would argue most job placements are the result of employers receiving unsolicited approaches from candidates and not the result of applying to an advertised job ad. I know this is certainly the case with the Harcourts network. Of course, in these cases, the qualification and experience attributes are still a requirement. Employers also look for other important attributes – persistence and resilience.
Real estate is a wonderful career. It provides excellent rewards both financially and also with the relationships you build with your clients. It can also give much flexibility with your work/life balance.
Like any service industry, real estate provides challenges, and your ability to manage various situations is important. This is where you need to display a degree of persistence and resilience and also be able to show this to a prospective employer.
I hope you have found this information of use in your pursuit of your chosen career. On a personal note, 2018 marks my 30th year in real estate – it’s been quite a journey!
Feel free to get in touch if you would like to have a chat about the real estate profession and how best to prepare for such a career.
Ray Brincat, State Academy Trainer and Licensed Land Agent
Jobs Galore in Property Management
We are simply BURSTING with great property management and real estate support jobs!! If you're thinking about making a change, now is an excellent time to find a role that's perfect for you. We've got full-time roles, part-time roles, temp roles, north, south, east and west of the city. You name it, we have it. If you have experience in the property and real estate industries, we want to hear from you.
For a confidential discussion, contact Mary-Jane Massicci or Kelly Armstrong on 8232 2220 or email your resume to email@example.com
How to win your dream job in 2018
Did you know that over 50% of Australians are thinking about getting a new job at this time of year? If you’re looking for a new job in 2018, we're here to make the task a lot easier. Our consultants Mary-Jane, Kelly, Gary and Jane have deliberated and produced a top ten list of tips to improve your chances of winning that perfect job in 2018.
Our top ten:
Before you start applying for jobs, visualise what kind of organisation you’d like to work for. Is it a corporate environment, or perhaps somewhere more relaxed; is it a small organisation or a big one?
- Prioritise job factors
Think about what factors are most important to you in a job and order them from most important to least important. This will help you diagnose if a job offer is right for you. Factors could include; location, salary, flexibility, opportunities for training and professional development and nature of the role.
- Call us
Following up your job application with a phone call is great way to increase your chances of getting the job. It shows us that you are proactive, keen for the role, allows you to gain more information about the job and may help you stand out from other applicants who didn’t bother to call.
- Start with self assessment
Before applying for jobs, consider your strengths and weaknesses, thoroughly revise your work history, review your achievements and career goals and be prepared to answer questions about them.
- Update your voicemail
You may be surprised how many people forget to update their voice message when job hunting. If you have a funny, offensive or blasé message on your phone, we recommend you refresh it with a more professional recording.
- Show Stability
Consider how important stability is to your ‘employability’. A candidate with a steady work history is a far safer bet for employers than a candidate with a sketchy work history.
- Consider and prep your referees
Choose referees that have supervised your work, not colleagues who have worked at the same level as you. It’s also important to call your referees in advance to let them know you’re job hunting.
- Dress smartly for interviews
If you are worried about being too dressed up for a job interview, don’t be! It is better to dress up, rather than dress down for interviews whether you are meeting your recruiter or a potential employer.
- Prepare, prepare, prepare!
Prepare thoroughly for all job interviews. This includes researching any organisations who you have an interview with and knowing who you will be meeting.
- Consider temp work
Temping can be a great way to make new contacts and learn new skills while you are job hunting. It can also lead to a permanent placement, as almost 20% of our placements discovered in 2017.
Jane Carey, CEO at Edge Recruitment says, 'Candidates that put some thought into their job search efforts before contacting us always end up with a better outcome than those who don’t.'
Great apps for property people
With so many apps available on the market, it’s easy to become overwhelmed by the possibilities. To make it simple, we’ve researched the best apps for people in the property industry. These apps are useful for property managers, valuers, administrators, real estate agents or anyone who spends a lot of time on the road or works directly with clients.
Inspect Real Estate
We asked Alicia Allan from Gary J Smith Real Estate for her recommendations on useful apps for people in the property industry. As a busy business owner and highly experienced property manager, Alicia knows how to use technology to her advantage.
“We use this fantastic app for our property inspections called ‘Inspect Real Estate’. It enables us to sign people in as they come to the inspection, send them reminder texts, make notes on each person, take applications on the spot and so much more. It even serves as a safety check because we know who’s coming to our inspections before they arrive and we’ve got those people’s details on file. It’s brilliant!”
Other useful apps we discovered include:
This very cool and totally free messaging app for your smart phone or tablet, works like a walkie talkie with live voice text, photo and location sharing. It’s perfect for busy real estate agents with PA’s and sales administrators or anyone who manages a team. Record your messages using live capture and send them directly to individuals or your whole team. Imagine being able to send instructions to your team using a voice recording instead of having to email or text them individually!
Voxer is available on smart phones, tablets and the web.
This automated GPS time tracking app automatically records all travel time and time spent with clients, so you no longer have to rely on manual timesheets and mileage logs. This is especially useful for contractors and those who charge by the hour. However, it also provides a simple way for permanent workers who wish to track how their day is spent, such as property managers who spend a significant portion of their day away from the office.
Bullrush is available on android and Apple devices.
If you’re in any kind of client facing role such as real estate sales or retail management, you’ll want to look your best without spending precious time working out what to wear. Stylebook is a virtual closet for your real-life wardrobe, with over 90 tools to manage everything from your favourite outfits to your sizes and style inspiration. If you’re the sort of person that spends more than a few minutes in the morning working out what to wear, this will be useful for you.
Stylebook is currently available on Apple devices only.
Not just for property people, this one’s useful for just about everyone! If you’re easily distracted and can’t resist the temptation to check the latest kitten videos on your Facebook/Youtube feed, then this app is perfect for you. It allows you to block Facebook and/or Youtube for a set period. It’s also useful for parents wishing to limit the time their children spend on Facebook/Youtube.
FB limiter is available on desktop and tablet devices for Windows XP, SP2 and later operating systems.
If you’re one of those people that need to write everything down, this is the app for you. This super useful cloud-based task management application helps you to tick off your professional and personal to-do list. Set due dates, reminders, assign to-do tasks and share any projects you need with colleagues, friends and family.
Wunderlist is available for free on iPhone, iPad, Apple Watch, Android, MAC, Windows, Kindle and the web.
If you’re yet to embrace apps into your life, have a browse through the apps available on Google Play for android apps or the App Store for Apple apps. When looking for an app, always check the reviews to see how well they have been received by others.
Why Contract Employment Is The Best Of Both Worlds
When it comes to hiring staff, employers often think of permanent and temporary employment terms as the only options available. However, fixed term contract employment provides employers with the expertise you would expect from a permanent employee, whilst providing the ultimate flexibility of a temporary employment arrangement. What’s not to love?
Jobseekers who take on fixed term contracts are often skilled professionals who are; between roles, looking to take on interesting projects or wanting to work with particular organisations. For employers that struggle to keep permanent staff in key roles for a long time, fixed term contracts can be a smart solution. Whilst a fixed term contractor will usually cost an employer more on a per hour basis than a permanent employee, there are many benefits to this type of employment that is sometimes overlooked.
Jane Carey, CEO of Edge Recruitment gave us her insights into this type of employment. “Whilst still not the most popular form of employment, I’m finding there is less resistance to fixed term contract employment these days. Smart employers are recognising the value of hiring a highly skilled professional to plug skills gaps whether it be for a short term project or to cover maternity leave etc.”
So what are the positives for hiring staff on a fixed term contract? ·
Minimal training needed
Fixed term contract staff are ready to hit the ground running, generally require minimal training and can help up-skill existing staff, saving employers time and money.
Temp to perm
Occasionally an employer finds a fixed term contractor so beneficial for their business, that they make an offer of permanent employment. The beauty of a fixed term contractor is that their contract term effectively acts as a trial period, allowing employers to review their potential, free of obligation.
Fixed term contract staff can provide insights into other industry projects and connect businesses with highly valuable industry contacts.
Reduced HR costs
The more employees a business has, the more resources are required to manage HR tasks such as payroll, superannuation and leave management etc. That’s why fixed term contractors prove to be especially beneficial to small businesses with minimal HR resources, as these employee benefits are usually managed by a recruitment agency.
Fixed term contract staff provide employers with the flexibility to easily increase their workforce during busy periods and decrease during quieter times, without the stress of having to lay off permanent staff.
Most employers know that smart hiring choices are critical to the success of their business, and adding fixed term contract staff to the mix can help employers access much needed expertise, flexibility and networks.
Fabulous Women in Property Party
Adelaide turned on beautiful weather for our annual Fabulous Women in Property Cocktail Party held at 2KW on Thursday 21st September. People from all areas of the property and real estate industry joined us for great networking, cheese tastings, delicious wines and stirring speech by guest speaker Valerie Henbest.
Thanks to all who helped make the night a great success, including sponsors Real Estate Institute of South Australia (REISA), Madame Hanoi, Adelaide Festival Centre, SIMONE PERELE and The Smelly Cheese Shop.