November 26, 2024 • 47 mins
This is the irrefutable guide to growth & profitably in a real estate business:
- How to accelerate from 0-3,000 properties in 5 years
- How to gain 100 new managements per month
- Which model works best and why?
- What are your PM profitability ratios?
- How to incentivise your team
This webinar is ideal for:
- Business Development Managers
- Principals
- Property managers
Speakers:
- Jonathan Bell, one of the leading thought leaders in Property Management
- Jordon Slinger, leading Business Development Manager at Housemark
This training content is sponsored by Housemark: https://housemark.com.au/ and Wingman: https://wingmangroup.com.au/tompanos/
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Tom Panos (00:00):
Ladies and gentlemen, I am so pumped and excited.
After spending my whole lifesaying make more phone calls,
get more listings, I'm about tospend an hour or thereabouts
with two amazing people thatwill not only inspire you but
(00:21):
will show you a method that'sgoing to allow you to add 200 to
300 new managements a year toyour rent roll.
And I am letting you know that,since I've begun a relationship
with Wingman and I've got toknow John Bell even more better
(00:44):
than me going to Manila as anambassador to Wingman helping
with remote professionals,what's becoming very clear is
that the current propertymanagement system, whilst it's
not broken, can be significantlybetter, significantly better.
And let me tell you, if youknow this, you can leave your
(01:08):
real estate life as an owner ofa business with a $10, $15
million asset $10, $15 millionasset if you get this right.
And today joining me is JordanSlinger, who is is Jordan
Slinger, who is an amazing BDMan amazing BDM, not me just
(01:30):
saying it recognised as thePremier Award in Business
Development Management inAustralia is the REB Award, and
he is a recipient of it.
I also have with me JonathanBell, who is the owner of
Wingman, as well as the owner ofHouse Smarts.
Tell me, jono, tell me a littlebit more, because everyone
(01:51):
associates you as the guy thatlooks after all the offshore
talent in sales, but a lot ofpeople don't know that you have
an extraordinary real estatebusiness and in fact today I
read I read, if I'm correct thatyour business has been
(02:12):
nominated in an incredible award.
What award is that?
Or is that public?
Jonathan Bell (02:19):
yet yeah, wingman got in the far.
We came sixth in the AustralianFinancial Review for fastest
growing businesses.
But that was Wingman, notHousemarque.
And then the Deloitte techstartups as well.
Tom Panos (02:35):
Okay, congratulations .
Thanks, tom.
I want to remind people theAustralian Financial Review is
not realestatecom, it's not justfor real estate people.
This is for people inpharmaceuticals, in banking, in
media, in every industry, andWingman is now number five.
(02:58):
Well done.
But my first question was aboutthe real estate office that you
own in Brisbane.
That is a specialist propertymanagement business.
When did you start it?
Jonathan Bell (03:11):
9th of March 2019 was our first management, so
five years ago.
Tom Panos (03:16):
Five years ago Actually, I've seen an image
which reminded me of the imageof Bezos starting Amazon.
That little kitchen.
How many managements have yougot now?
Jonathan Bell (03:29):
2,850.
Tom Panos (03:32):
Okay, that's an extraordinary Like team.
Sit down, pull your calculatorand work out an asset base of
that business.
Work out an asset base of thatbusiness, and that's what we're
here today to show you how youcan actually get to that level
not using a push bike, but usinga Concorde Jumbo.
(03:53):
Do it in lightning speed.
And Jordan Slinger is thatperson.
Because Jordan Slinger is theBDM that Jono said.
I want my best person speakingat this.
How are you Jordan?
Jordan Slinger (04:09):
Good thanks, tom .
Thanks for having me on today.
Appreciate it An absolutepleasure.
Tom Panos (04:13):
An absolute pleasure, jordan.
I'm going to ask you a heap ofquestions because I really want
to get down to the bottom of howyou actually have had so much
success.
I mean, we're talking aboutJordan.
Like you started, you won theaward last year BDM Manager of
the Year.
You started seven months agowith Housemarque and you went
(04:36):
from zero to 100 managements ina month.
Extraordinary.
And I've always said, I'vealways said the real estate
company that takes propertymanagement into a sales driven
business is going to win themarket right, win the market.
And I'm pleased to letting youknow that Real Estate Gym and
(04:58):
Wingman are heading in the spaceof that space.
Because right now I don't thinkthere is a blueprint, there is
a plan, there is an encyclopedia, there's a GPS unit that says
do this and at the end of theyear you'll have 300 new
managements.
So I'm curious how do you sign20 new managements a month,
(05:19):
jordan?
Jordan Slinger (05:21):
Yeah, so thanks for having me today, tom.
20 new managements is industryaverage is 10.
So 20 is not a big number to us.
40 is a big number to us.
I think it comes down toactivity what we do on a
day-to-day basis, also takingaway the non-dollar productive
activities from what I do.
I do not do any adminapplications, nothing like that.
(05:45):
My job is to buildrelationships with people that
come across investmentproperties owners, having deeper
conversations than the othermediums that are out there.
Tom Panos (05:55):
All right, Team.
I'm going to put a challengeout to everyone that's watching
this.
Susan, I don't know if you'rethere in the background.
I don't know if you're there inthe background.
I don't know if you're there inthe background.
Yes, you know what I reallyfeel?
Is it too late for us to?
Actually, we are on Facebook,aren't we?
Yes, okay, jono, jordan, I'mgoing to ask a favor.
(06:20):
You're going to offer aone-on-one 30-minute coaching
session to one person on this.
They will do one-on-one, sothis is the prize You'll have a
one-on-one coaching session withboth Jordan and John, who's
going to speak to you about yourissues, which is different to
doing it in front of a lot ofpeople.
(06:40):
To actually enter to win, aswe're streaming these, I want
you to either take photos, shareit on social media, tag me, tag
what do you reckon?
Tag Wingman Jono, or yeah,wingman, yeah, Tag Wingman.
(07:01):
And put down a learning thatyou're getting out of today, and
we will pick a winner at theend of today and announce it.
Those of you that are watchingon Facebook right now all you've
got to do is press the sharebutton, or you can actually do
the same thing.
You can take a photo, put it onInstagram, share it.
Tag Tom Panos, tag Wingman.
(07:21):
Tag Tom Panos, tag Wingman.
Tom Panos, tag wingman.
Tag Tom Panos, tag wingman.
So you believe, jordan, that 10a month is like standard?
You should be doing it.
Jordan Slinger (07:31):
I'm signing 10 a week at the moment.
Tom Panos (07:39):
Okay, I'm just.
How many days do you work?
Six days, okay.
What does the typical day looklike for you?
Jordan Slinger (07:47):
Yeah, so I don't a usual BDM will come in.
I don't come into the officeuntil after midday, so I'm out
meeting people, meeting referralpartners, meeting owners.
Basically buildingrelationships is what I do.
So I come in and then I gothrough proposals using my
(08:07):
offshore, and I don't usuallywork off a computer, I usually
work on my phone.
Tom Panos (08:10):
It sounds like to me you are a leader of a team
that's in delegation mode andyou're delegating activities and
monitoring those activities.
Is that?
What you're saying by you, yeah.
Jonathan Bell (08:26):
Yeah, I think, Tom't think that's possible.
Yeah, I think, Tom, like that'sprobably a big thing.
That Jordan's done really wellis that most BDMs get stuck
doing an entry report, going tothe houses, doing a lot of the
leasing, doing a lot of theback-end activities which
consumes them.
So most BDMs are doing 10managements a month and they say
they're overly busy, and we'vetried to adopt the EBU model,
(08:48):
like you do in sales, whereyou've got the top salesperson
or the top BDM who's Jordan, andwe built a team around him so
he can focus on what he's bestat, which is getting the best
rents, signing the managementsand getting the best results for
the clients and having ravingfans and then delegating
everything else.
And I think that's where a lotof BDMs get unstuck because
there's so much compliance andadmin involved in that leasing
(09:11):
process, they get stuck doingthat on a daily basis.
Tom Panos (09:15):
I really listen, I really love.
The first thing I'm hearing isyour team is prospecting
business, not just processingbusiness.
Big difference, right, big bigdifference.
So your typical day looks likefirst half.
You're out.
I mean out of curiosity.
(09:37):
Someone's watching this now.
Who do you delegate to?
Jordan Slinger (09:40):
Offshore.
All my team workers, all myteam on the coast are offshore.
It's only myself on the groundhere.
Everything else is doneoffshore.
You do not need a massive team,you do not need an office.
Everything can be done usingoffshore, if you do it right.
Tom Panos (09:57):
So when we're talking about offshore, are you
actually using the wingman team,Right?
Oh beautiful, Okay.
Now it's all the jigsaw puzzlescoming together and I want to
ask so on a Saturday, what doyou do on a Saturday?
Jordan Slinger (10:15):
So I'm doing the same thing going out and
meeting people, going to openhomes, dropping bottles of wine
to sales agents, going tofinancial advisors.
Tom Panos (10:23):
You know what I actually think, don't get me
wrong.
I think you must be really,really good, but I reckon part
of the reason why this ishappening is you're just there.
I don't think people do that inthat industry.
I think what we are talkingabout is groundbreaking.
But in sales it's like this iswhat we do, and you know what
that says to me no competitors.
What a free run that you've gotthere.
(10:43):
You've got we do.
And you know what that says tome no competitors, what a free
run that you've got there.
You've got a free run.
And you know what else I likeabout your business.
Yes, in property management youget another strike at it.
You might even miss out, but inreal estate you miss out.
They're gone.
They've sold in Byron andthey've moved to Wollongong.
(11:05):
I don't know why you would dothat, but anyway.
But the point is they're gone.
That client's gone.
There you get another crack atthose.
So I want to ask, jono I'mgoing to get you to chime in as
we're going through here,because at the end of the day,
you run that business how manyproperty managements do you
(11:30):
reckon a property manager canmanage?
Jonathan Bell (11:34):
Yeah, I think industry standard is about 100
to 120 per property manager.
In our business at Housemarque,our property managers manage
double that.
They're managing a minimum of250.
But again we've got the samemodel.
It's like how do we In propertymanagement it's a little bit of
a lemons market whereeveryone's doing it exactly the
same way and there's so muchcompetition in sales and I feel
(11:58):
like in the sales industry it'srun really professionally.
The open homes are amazing, thesupport teams are amazing, the
elite agents are amazing, but inPM it probably doesn't have
that same limelight.
So what we did is all of oursenior property managers we
tried to attract the best seniorproperty managers and we
actually elevated them and wetreat them like our top
salespeople.
So they all get a wingmanoffshore EA in the Philippines.
(12:21):
All they do is landlordcommunication.
Their sole job is to buildrelationships with their current
landlords and try and buildgood enough relationships where
they refer friends and family.
So we've got one of ourproperty managers bringing in 10
managements a month purely fromrelationships of their own
portfolio.
They don't have to do any outof office, so they don't do any
entry reports, any routines, anyexits.
(12:42):
So we're treating our seniorproperty managers like um, elite
sales people, and we create anebu model around them, similar
to what slinger get jordan getson the sunshine coast, which
then means they're managing moreproperties.
We can pay them more.
So our model is the moremanagements you manage, the more
you get paid.
So we're incentivizing ourproperty managers to manage more
properties and begrowth-orientated rather than
(13:06):
you know, want to actually losethe managements because there's
less work.
So we're creating much more ofa growth mindset and a sales
side of the business andcustomer service, rather than
just here's your 120 properties.
Manage them well, and I'm notgoing to talk to you for the
next three months.
Tom Panos (13:21):
Now listen makes absolutely sense.
What you're doing is, mate,people have been doing this
since they've been buildingHenry Ford was building cars
many, many years ago.
Like there are divisions oflabour, this person does this,
this person does this.
I mean, mate, handymen don'tget paid money that well,
(13:42):
because they're not specialists.
Specialists get paid well, andthat's both in trades and that's
both in medicine.
So what you do is you've gotpeople sticking to their lanes.
I'm curious with you.
I was about to use the samename.
He calls you what's?
He call you?
slinger slinger I've only I'vemet you once on a slinger.
Jonathan Bell (14:04):
I just want to ask you, do you?
Tom Panos (14:06):
have.
Do you do like in real estatesales?
We have the listingpresentation.
The listing presentation is thestory.
The listing presentation is thestory.
The listing presentation is thepitch.
It's basically a narrative thatyou've got to give versus two
or three other agents who havegot the same sort of narrative.
Do you have like a stockstandard presentation?
Jordan Slinger (14:29):
I do.
Now all the BDMs are going inand saying we charge this, we
have low vacancy, we have heapsof tenants.
I'm giving more of a story.
Me and my partner have justmoved from Brisbane to the
Sunshine Coast to giveexceptional service and bringing
that story to landlords insteadof jamming down the same
(14:49):
information that every otherreal estate is jamming down
their throats, it's getting alot more of a positive reaction
back.
I think that you've got to knowwho you are and what you're
trying to do, and for me, I'mtrying to provide a service that
is not provided on the SunshineCoast.
Tom Panos (15:05):
Okay, okay.
So if you're the same as thenext person, your typical
landlord's going to say agent,agent, agent, you're the same,
you're the same, you're the same.
They need a differentiator.
That differentiator ends upbecoming fee.
(15:27):
I mean, it's in the simplestterms is you're all shit, you're
real estate people.
Who's the cheapest of theshittest?
That's how the average brainworks, right?
So one of the things thatyou're saying is don't be the
same.
Look at separation, look atUSPs, look at how can I stand
out?
Because you need to stand outto win out.
(15:50):
So I'm curious Give me one ortwo separation points that you
think differences that you'vegot versus competitors.
Jordan Slinger (15:59):
Well, I just give them my story.
I just be as genuine aspossible and say me and my
partner have just moved here andI've left a big business to be
here and I've put a lot ofeffort to be here and there is
no one else that will give theeffort, the amount of attention
to detail as me and I'm notgoing in saying all these other
things that other BDMs aresaying I'm giving them the story
(16:21):
and people want to be on thewinning team.
Tom Panos (16:23):
And I can see why that works because, I mean, I
can just picture it.
You're sitting there in frontof an owner and probably
somewhere along the lines of MrClient, mr Landlord, mrs
Landlord, I want to let you knowI've come over, I've left
everything behind to come hereand you need to know I've got to
prove myself each and every day.
(16:44):
Giving me the opportunity to meis a privilege, not an
entitlement like some of theother agents.
Right, I can just picture whythat?
Jonathan Bell (16:54):
that would have cut through, right, and I think,
tom as well, like what I'venoticed is in sales, when you go
in for a listing presentation,the owner's thinking, okay, I
don't love this personpotentially, but I'm happy to
deal with them for the next 30days because I'm going to get
the best possible sale price Inrentals.
They're actually meeting youand they're saying can I work
(17:16):
with this person for the next 10years?
So it's like they're notactually only looking at are
they going to get me the bestresult, they're actually going.
Can I deal with this individual?
And I think that's very muchour approach.
When we hire BDMs and we getpeople like Slinger.
You want your BDM to be reallylikable.
They actually need to have verylittle ego and they need to be
(17:38):
very much like going in andsaying what are you looking for?
What do you want out of thisrelationship?
Jordan, for example, when Ifirst started the business, my
number one pitch was you get me.
I'm not going anywhere.
You have me for the rest ofyour investment journey.
You can call me anytime,whereas if you go with a big
agency this is when I started Ifyou go with a big agency,
(17:58):
you're going to speak to the BDMand then the BDM is going to
hand you off to the PM.
The PM is probably going toleave the business and you'll
get another PM, and then you'regoing to have someone managing
your property who's never evenmet you or seen your property,
whereas if you're dealing withme, you get me at all times and
I think when you're startingyour rent roller you're looking
to grow.
That is the most compellingargument.
And then over time it changes.
(18:19):
Now we can say hey, we lease100 properties a month.
We're getting thousands oftenants per month come and ask
us for properties.
We've got people specialized intheir roles, so you're getting
someone who's You're getting 10people for the price of one, and
we're not.
There's no key man risk, so ifsomeone leaves, it doesn't
actually impact your property.
So that's a much morecompelling argument than someone
(18:41):
saying we've got low vacancyrates and we have less than 10%
staff turnover.
Landlords don't care about that.
They want to understand whatimpact it's going to have on
them and their investmentproperty.
Tom Panos (18:54):
Man.
I just I want to ask you, jono,like to me, the most common
question.
So I have 50 one-on-ones a week.
Some of those one-on-ones arewith principals.
I don't speak about propertymanagement in most of my
one-on-ones, but when I'mdealing with a principal I often
(19:15):
have things where they say Ijust don't know how to
incentivize my PM departmentright.
I mean, I know we've got ashort period of time here, but
is there any comments that youguys can add to that?
Jonathan Bell (19:29):
Yeah, I think like so typically in a real
estate office.
I'm sure a lot of principals onhere would agree.
You've got the BDM.
They get paid to bring inmanagement, and then you've got
your property manager, who's ona salary.
So the BDM goes out, gets thelisting, gives it to the
property manager and theproperty manager is like I don't
want it, I don't get paidanymore to manage this property.
All you're doing is giving memore work for the same amount.
There's this, like most BDMsJordan would probably agree.
(19:58):
Most BDMs and PM divisionsactually hate each other.
So in our business we believethat growth fixes all problems
and every single part of ourbusiness is focused on growth.
And that's not just growth ofnew managements, but that's
growth of our team.
That's growth of remunerationfor our team, that's growth of
better service.
So everything we do is weattract property managers who
(20:19):
want to grow and want to earnmore money.
So we actually have anincentive program at 250
properties, you earn this, At300 properties, you earn this
and 350 properties, you earnthis and it means that they're
actually property managers.
Go, if I manage an extra 100properties, then I'm going to
get paid this and this is whatit's going to do for my family,
so it actually gives them agrowth path.
(20:40):
Not many property managementbusinesses actually give their
property managers incentives tomanage more properties and I
think that having your propertymanagers see a 12-month plan and
see what their life could looklike based off how many
managements they manage hascreated for us, has created a
growth culture, and propertymanagers are actually coming to
us saying can I manage moreproperties now, which?
(21:00):
is unheard of in the industry.
Tom Panos (21:04):
And that's the way life should be.
It should be performance based,right, and not only that.
I like that because you know,sometimes, remuneration schemes.
You know sometimes remunerationschemes, like I had one
yesterday, guys, where the salesagent was upset with their
associate because they're notdoing the work, and then I said,
(21:26):
oh, what's your remuneration?
And he turned around and hegoes oh, he gets, you know, 2.5%
of everything I write.
And I said, man, have you gotany other jobs?
I said I'd love to come and sitthere and hang out there on
TikTok, sit in the office andpick up two and a half, because
you're basically saying is I'llget two and a half percent based
on what you write, right?
(21:47):
So what we're talking about isreward the behaviours that we
want, reward the people on thestuff that they're doing.
Now can I ask you, slinger, youknow, were you a salesperson
before.
Jordan Slinger (22:07):
No.
Tom Panos (22:10):
So I'm trying to work out.
Is there a specific person thatyou know people should be
looking?
Were you in property management?
Jordan Slinger (22:18):
I was a property manager for about three months
and then moved to a BDM role.
I've always been in salesbusinesses and I've always gone
to sales training.
People want to do business withpeople they like.
So, if I have any advice for aprincipal, hire someone because
they like that person.
Go out to lunch with them, seewhat they're actually like as a
human being.
Are they going to get alongwith the marketplace and then go
(22:41):
from there, instead of hiringsomeone that's not going to suit
what you're trying to do as abusiness?
Tom Panos (22:47):
Okay, as we're going along, we are getting some
questions coming in.
I'm just going to see if we cananswer some of these.
What type of work can yououtsource to the offshore?
In a PM business, most needs tobe done in-house, like routines
, exit maintenance, which is thebulk of the work.
How do you outsource this?
(23:07):
I'm a business owner with arent roll of 100 properties with
a PM.
I'm also a sales agent and verytight on time.
I've got to tell you I'mstressed, even reading, I'm
stressed, reading that.
I'm stressed, anna, I'mstressed Anna.
A hundred properties and you'redoing sales and you've got this
(23:29):
PM there just doesn't stack up.
There's a better way, anna.
There's a better way.
But, jonoer officers, right,thousands of properties that are
populated with remoteprofessionals from Wingman doing
(23:52):
PM work.
Explain.
Jonathan Bell (23:55):
Yeah, so basically like anything.
So all lease documents, allentry documents, like anything
you can do that you don't haveto be at the property at, will
actually be done probably betterfrom the Philippines team, like
they're more dedicated, they'vegot better attention to detail
Organizing maintenance,following up quotes, organizing
your routine inspection run,organizing smoke alarms, general
(24:18):
tenancy agreements, agencyagreements, arranging bond.
So 80% of property managementis actually admin.
We found 80% of the actual roleis actually done is actually
administration work.
20% is dollar, productive orrelationship driven.
So for you, anna, my personalopinion would be get someone to
(24:39):
do 80% of that work.
Employ someone who will doentries, exits and routines and
manage the properties for youand you focus on selling and
bringing in business.
So you'd have for your team,you should have someone offshore
doing all the back-end work,your onshore person's managing
the relationships, doing entries, exits and routines, which is
needing to be done onshore, andthen all you would be doing is
(25:00):
bringing in new business andselling.
Tom Panos (25:03):
Love that.
So, anna, you've got to get offthat hundred.
You got to get off in cricket.
A hundred is a great score inproperty management.
It's a bad score, anna.
You got to get over that numberbecause the numbers just don't
don't stack up there.
Um, and I'm, you know, one ofthe things that has fascinated
(25:24):
me with uh offshore team and itsort of it really hit home when
I was in Manila when I realizedthat people in the Philippines
speak to other people in thePhilippines who are Filipino.
They don't speak.
They speak to each other inEnglish.
(25:46):
They don't speak.
They speak to each other inenglish.
So it's not a case of, oh,what's their english going to be
like?
That's what they speak.
That's what they speak.
Um, jono, can I ask you whatwould the first step like?
So you're someone right nowyou're watching this.
(26:10):
You're a principal, maybe, oryou're a BDM.
You're a principal of BDM.
What's step one?
So, firstly, can you have yourcurrent?
Like?
Some people don't even have aBDM working in the business.
A lot of people don't.
Like some people don't evenhave a BDM working in the
business.
A lot of people don't.
What's your view on the PMmanager also doing BDM?
Jonathan Bell (26:33):
Two different skill sets.
If a PM can do BDM, I call thema unicorn and typically if
they're a unicorn they own theirown business.
So you need they're twodifferent skill sets.
Property managers need to beextremely detailed.
They need to dive into problems.
They need to enjoy focusing onsolutions.
(26:53):
Bdms need to focus on growthand building relationships.
It's really hard to findsomeone who's got both those
skill sets.
They're opposites.
They're actually oppositepersonalities.
So my personal opinion is thatit's hard to get someone to go
from a PM to a BDM.
But if you can do it, then gofor it.
I think the better strategy.
If I owned a business that hadsales people, my strategy would
(27:16):
be find an associate.
Say I want you to be a BDM for2 years.
I want you to buildrelationships with owners.
I want you to bring owners inbecause you're ultimately
building their pipeline for whenthey go to sell and when they
move into sales they will thenhave a pipeline of sellers.
Be a BDM for two years, helpthem grow as a BDM and you're
attracting someone who has salesskills, who has the desire to
(27:37):
go out and prospect, and thenhelp them on that journey.
Hopefully they want to stay asa BDM.
But if they don't, they thenbuild a pipeline of three to 600
managements who then becomefuture sellers in their business
.
I think a lot of associatesstart in sales.
I don't understand why theydon't start as BDMs.
Tom Panos (27:56):
Yeah, I actually think 1 million percent, because
I actually think it would be somuch easier to crack it in BDM
than what it would be in salesas a sales agent, because,
purely because of the numbers,the amount of competitors that
you've got there is a questionthat I was going to ask, but
(28:17):
it's actually been asked bysomeone else rent roll
organically from scratch.
Jonathan Bell (28:35):
Where do you find data for potential owners?
There's probably a fewstrategies that you can use
Depends if you're in a salesoffice.
If I was in a sales office, Iwould call through every single
owner in the database or I wouldbuild really strong
relationships with the salesagents.
Like most sales agents own afew investment properties
themselves.
Most sales agents friends andfamily.
They're very well connected.
There's obviously a fewsoftwares out there that you can
get contact details for thathas really good data as well,
(28:59):
and then also mortgage brokersand financial planners typically
have really good databases aswell.
So I think it's a combinationof building really good
relationships with your networkthat have access to clients with
properties, and then the secondpart of that is leveraging your
current sales team or databaseor software that I'm sure we all
(29:21):
know about.
Tom Panos (29:24):
Listen, I just can't get over the amount of people.
I mean, the next opportunity isright underneath your eyes.
People don't realise that thetradesperson that you call to go
change that washer theelectrician that goes to fix up
that problem has four investmentproperties that you're not
(29:44):
managing.
That owner that you currentlyhave that you're managing has
another three properties thatare sitting with another person
that you just never have asked.
There are organisations in yourarea that have got a thousand
staff in a building.
In that building they havepeople that own investment
(30:07):
properties.
Right, you've got a captiveaudience to come up with a
corporate special, the AMPspecial for all employees of AMP
.
You get this deal fromHousemart.
There are so many opportunities.
What do you think Leah hasasked?
What do you think the maximumamount of property is?
A property manager shouldmanage from end to end.
Jonathan Bell (30:30):
We don't have an end to end model, so it's hard
to answer that question.
I personally don't think youshould have an end to end and it
depends on the property manager.
That's like saying how manysales should a salesperson sell
every year.
Tom Panos (30:43):
It probably depends on the person and their
motivation level, their skillset okay, one question that's
come up is how does the ebumodel, the super team model, the
pot model, if you like it,operate in property management
with licensing requirements?
Jonathan Bell (31:04):
so all of the all of the so to hold a real estate
license.
There's all the Australians aredoing with a license the things
that you need.
So negotiation, showing thehouses, organizing all the
things that you need a realestate license to do.
Your offshore team's doing allthe administration that you
don't need a license to doCalling a tradie and organizing
(31:24):
an invoice or organizing amaintenance request you don't
need a real estate license to do.
Calling a tradie and organizingan invoice or organizing a
maintenance request you don'tneed a real estate license to do
.
And ultimately, the sign-offcomes from the person with the
real estate license in Australia.
Tom Panos (31:36):
And team.
I've got to tell you, you'vegot to get the narrative out of
your head.
Oh no, I'm not like that.
I need that person to be nextto me.
This whole thing doesn't work.
Listen, one guy said to meyesterday he goes, but
realistically, like you know youcouldn't.
You know, like you couldn't doit without you know Susan, and
(31:57):
Susan's not in the Philippines.
Well, to be quite honest withyou, I reckon I've seen Susan
probably as much as I've seenPrincess in the last few months.
Yes, susan is in the nextsuburb, but I would literally, I
mean, I don't see Susansometimes for eight months.
Right, this whole thing about,oh, they've got to be there,
(32:19):
they've got to be there.
She's been working with me for12 years and she could have
basically been in Makati thewhole time.
It's as simple as that, youknow.
And the few times, the fewtimes when she's decided to come
to the studio to do work withme, I send her back.
I send her back because all wedo is chit chat, right, all we
(32:40):
do is socialize.
That's what happens incorporate world, by the way.
Let's be honest, everyone,let's be honest.
They go in there, they walkfast through the corridors, go
to the cafe, sit down chit-chat.
If it wasn't the case, theworld would have slowed, the
world would have stopped duringZoom, but it didn't did it right
, kept on going.
In fact, it got more productive.
(33:05):
So I just and I just want to askthere's a couple of more
questions that I feel guilty bynot asking, because if they've
been good enough to ask and weshould be good enough to answer
them, how do you tackle when youneed to drop a property
manager's pay due taking on lessproperties due to a hire?
I don't think you drop aproperty manager's pay, right?
I don't think that's a propertymanager's pay, right?
(33:27):
I don't think that's the issueto the anonymous person.
All it is is you're basicallysaying is everyone's got access
to this deal, to be accessed tothis deal?
This is what you've got to do.
It's no different to a salescommission.
Up to a million, you're on Xpercent.
At one million to two million,you're on, you know, at another
(33:47):
10 percent.
I don't think you're punishing,you're incentivizing better
performance.
Is that right, john?
Jonathan Bell (33:54):
Yeah, absolutely Absolutely.
There's a good question herefrom Carol to Jordan.
What are the main points thatyou think a BDM should focus on?
Ie, you mentioned open homes.
What else?
What are the top three things,Slinger, that you reckon a BDM
should do?
Jordan Slinger (34:10):
I think meeting external referral partners, if
it's inside, if you have a salesteam in your business, you
should be taking those salesagents out for lunch, breakfast
dinners once a week.
You know you should be buildingthat relationship.
So when they come across aninvestor, you know that that
(34:32):
person will reach out to you andsay, hey, this person's ready
to go.
That's number one.
So activity quality ofconversation, like why did you
buy the investment propertyinstead of you know we charge
seven percent like what is thereason that you want to buy in
this area right now?
Is it because of your kids?
Do you want to move to thecoast?
What does that look like?
And then also stripping awaythe non-dollar productive
activities, I think that's thebiggest one that has marked as
(34:55):
well Beautiful, beautiful.
Tom Panos (35:00):
I'm curious Do you use a manual diary or just your
own productivity stack?
Tell me the things that you use, jordan.
Jordan Slinger (35:08):
So Outlook Outlook Calendar.
Tom Panos (35:11):
All right.
Jordan Slinger (35:12):
Yeah, I don't do any admin, I don't do anything
like that.
It's all done through WingmanOffshore.
I've got one EA that does itall.
That EA is split betweenanother medium on the Gold Coast
.
Tom Panos (35:23):
Your communication with your staff, your remote
professionals, specifically,that are offshore, is doing?
What is it through whatsapp?
Jordan Slinger (35:34):
through teams, microsoft teams.
I facetime jean every morningon the way to work or to my
first meeting and she gives me alist of what I've got today.
Every single lead that comesthrough I send to to her.
Every single proposal I need tosend.
She will email me at 3 o'clockevery day.
So I know that those are doneand she gets BCC'd into those
(35:55):
emails so she knows that they'reall done and then, when they're
done, she will let me know togo home, basically.
Tom Panos (36:03):
Okay, there's a common theme of questions coming
in on incentives to referralpartners, incentives to get
there.
Does that happen in that space?
Jordan Slinger (36:15):
It does.
It depends.
My biggest referral partnersdon't want a referral fee.
They just want exceptionalservice which we can provide.
That's what we've built thisbusiness about.
It's relationships andexceptional service, service
which we can provide.
That's what we've built thisbusiness about.
It's relationships andexceptional service.
It's not.
I think that if you've got asales business, they're probably
referring to someone else, notbecause they're getting an extra
(36:37):
week's rent.
It's because they feel liketheir clients are being looked
after in a better way.
So then when they go to sell,they sell through that agent.
Tom Panos (36:46):
And I'm curious and I know, jono, that your own
business does not really focuson sales yet many real estate
offices that have got sales alsohave rent rolls.
Do you have any views on theway a sales office deals with
their rent roll and whetherthere's a bigger opportunity
(37:07):
that already exists in theindustry in the way that they
speak to each other?
Jonathan Bell (37:12):
Yeah, definitely.
I mean, what sums it up right?
Go to any real estate office.
The salespeople sit at thefront in the beautiful offices
and then the property managerssit in the back corner.
Awards nights every awardsnight you go to all the
salespeople, get up, win theawards, then the property
managers win the awards.
So I think that it's just acultural thing and it would be
as if I was.
(37:32):
I always think I try and putmyself in someone else's shoes.
If I was a property managerearning a salary and every
single day I have 3 salespeoplewalk past me wearing a watch
that's worth more than an annualsalary of a property manager,
wearing a watch that's worthmore than an annual salary of a
property manager, it would stinga little bit.
And having them celebrate ohlook, I just made 30 grand com,
I just made this, I just madethat and having a property
(37:54):
manager sitting there going likeI'm the one doing all the hard
work you come and go wheneveryou please and you're earning
quadruple me.
I know they're completelydifferent industries and you've
got to have a certain skill set,but it wouldn't be a nice
feeling to be reminded of thatevery single day.
I don't have the solution to it.
(38:17):
But I think, culturally, Ithink principals could look at
how do we make property managersfeel more worthy and how do we
get them to respect their joband respect this business.
And I think, first things first, sit them at the front of the
office or give them the awardsfirst and do some little things
that give them that recognitionof the tough job they do that
ultimately is the asset of thebusiness.
Tom Panos (38:34):
And I think, listen, when I go to the UK and speak at
conferences, I'm justgobsmacked that you're right.
In sales in Australia, you knowthe Gav Rubensteins, the nice
cars, the nice clothes, thepeople that have got a spring in
(38:56):
their step you look at them,you think to yourself, oh,
that'll be a salesperson.
But in the UK I was sogobsmacked like BDMs and
property managers are seen likethe winners in.
There are no different to thewinners in sales, right?
And the reason is, I think,that they have seen that you can
work in a real estate businessfor 20 years.
At the end of the year, theowner, all the commissions that
(39:19):
have come in, has gone.
It's gone to salespeople, it'sgone to expenses, depending on
what kind of a principal you are.
It might have even gone on cars, it's gone on holidays, it's
gone on whatever.
But what they have got is thisasset worth $20 million, right?
(39:39):
So they understand if we lookafter our people, they will look
after the clients, and if welook after the clients, the
business gets looked after.
And that's what you're saying.
If you want your clients to belooked after and if you want a
momentum spread saying, useHouse Smarts, you've got to look
(40:03):
after your people, because thenthey feel proud.
A couple of other questions.
Alex B is asking what aboutremote areas like Cairns?
Are you thinking we can stillachieve the same numbers, such
as the Sunshine Coast, brisbaneand the Gold Coast?
Any views there?
Jonathan Bell (40:22):
Yeah, I think it's just a mindset.
It's like I always make sure wehit a record month in December
because everyone thinks that youcan't make sure we hit a record
month in December Becauseeveryone thinks that you can't.
Everyone thinks that everyonetapers down in December and I
think that for us we want toramp up.
So I think I mean I don't knowthe stats, but why not?
Like, if you tell yourself thatyou're not going to be able to
hit the same numbers, youprobably won't, but I can't see
why you can't get the sameresults?
(40:44):
I think a lot of investors buyin Cairns.
I think there's a lot oftownhouses and apartments from
memory that investors buy inthose areas.
So why not?
I don't have the stats to backthat up.
Tom Panos (40:55):
You know it took decades and decades and decades
for someone to achieve afour-minute mile.
The minute it was achieved,then everyone started doing it.
Right?
It's the most bizarre thing,right?
The most bizarre thing thatonce it's done, it shows it can
(41:17):
be done.
So often it is your view on it.
I'm going to ask maybe one morequestion.
It's a difficult one.
I don't even think you'll haveno one's got the answer to this.
It's an ongoing project, Ithink, but I'd love to hear some
of the views you've got whenlooking to recruit property
managers.
(41:37):
By the way, thank you.
This is a record number ofquestions, which says to me the
appetite of people on thissubject is very high.
Which says to me the appetiteof people on this subject is
very high.
Where do you find propertymanagers?
Jonathan Bell (41:52):
yeah, it's tough.
I mean you should have it.
If you're a business, if you'rea head of department or gm or
um principal, you should have apipeline of property managers no
different to a pipeline ofsales or a pipeline of um of
landlords.
So we know that if someoneleaves in our business, we know
who the next property manager is.
(42:13):
So our, our theme of ourleadership team has always be
recruiting.
We've got a floor from sales,which is usually the other way
around.
You can find property managers.
They're everywhere.
I just don't think that peopleare spending the time and effort
in always be recruiting.
So I think you should have apipeline of property managers
that you continue to meet andyou should just have a KPI of
meeting three potential propertymanagers a week.
(42:34):
Speaking of have a KPI ofmeeting three potential property
managers a week Speaking toproperty managers from other
businesses saying, hey, we'renot looking yet.
If an opportunity opened upnext year, would you be open to
it?
What are you looking for inyour career?
How can we support you Justcontinuing to be having meetings
and building that pipeline?
Tom Panos (42:47):
I love that line.
I love that line.
We're not looking yet right,and you know what?
They're probably not lookingyet either, but there's going to
be a fight in the office atsome point in the next year.
They're going to walk out ofthe meeting and the first person
they're going to ring is theperson that's been jabbing away
quietly and saying I like thatperson.
(43:07):
So what you're saying isinstead of just listing property
, start trying to list people.
Make that a process in yourbusiness property.
Start trying to list people.
Make that a process in yourbusiness.
Right, jordan, you'll be kindenough.
We're going to select a winnerat the end of today.
Susan will pick a winner up onsocial media.
(43:29):
I want to thank you so much forjoining us today.
I also want to let people knowthat, prior to coming on camera,
I spoke to Jonathan about webelieve the marketplace is dying
for on-the-ground content thatis done from people that are
(43:53):
already doing it their audiomatching, their video, people
that have walked the path thatyou want to walk, and on March
the 6th, we are going to have aBDM property management day that
is purely targeted to owners ofbusinesses with their team, and
(44:14):
you will be receiving the fullblueprint.
You're going to end up gettinga manual.
You're going to get a manualthat is going to be A to Z,
that's going to tell you this isnumber one how to run your rent
roll, how many people youshould have.
We're going to look at ratios,kpis, profitabilities.
(44:34):
Then we're going to also have alook at the system to adding 30
properties every month.
March the 6th is the day youguys that are on here are going
to get first crack at it.
We're only going to get a venuethat's going to end up having
around 200 people.
So this will be a genuinesellout.
(44:57):
Jono Slinger, I want to thankyou so much.
Unless you want to add anythingelse, all I can say to you is
that you know what I'm pumpedabout.
I'm pumped about because Ireckon that there's at least
five people that are sittinghere that, all of a sudden, have
got excited, thinking tothemselves.
(45:18):
It'll be a principle thinkingto themselves.
Man, all I've got to do is takethe process that I've got in
sales.
Then what I've got to do isfind people that are already
doing it.
Go off and plagiarize howsmart's doing.
Why go off and reinvent thewheel?
And you've been very generousand kind.
(45:39):
I know that you've been runningaround the country various.
What do you call them?
I see them online where peoplecome together.
Jonathan Bell (45:49):
Roadshows.
Tom Panos (45:49):
Roadshows.
Jonathan Bell (45:51):
What are those roadshows?
They're just a one-day eventsimilar to what we'll do
together, tom, in March, butwe're going to ramp things up in
March.
But basically we just givepeople the playbook of how we've
done what we've done and how weutilise Wingman to be able to
give growth within businessesand profitability.
Tom Panos (46:10):
All right To all the others.
I know that there's 23questions there that haven't
been answered.
We'll make sure they'reanswered on March the 6th.
Time is up, guys, time is up.
Please, if you haven't done it,take a photo right now, put
some of your learnings and thenwhat we will do is pick a winner
(46:31):
.
Susan will pick a winnertonight, and then we will line
up a Zoom one-on-one coachingsession with Slinger and Jono.
I want to thank you so much forjoining us.
Everyone.
Suns out, guns out.
Have a great day, enjoypickleball.
(46:54):
I have got one common thing welove, and that is we both love
Pickleball Because he's the nexttennis player.
But that's another story.
Jonathan Bell (47:05):
All right, thanks , tom, see you guys.
Bye, see you.
Ladies and gentlemen, I am so pumped and excited.
After spending my whole lifesaying make more phone calls,
get more listings, I'm about tospend an hour or thereabouts
with two amazing people thatwill not only inspire you but
(00:21):
will show you a method that'sgoing to allow you to add 200 to
300 new managements a year toyour rent roll.
And I am letting you know that,since I've begun a relationship
with Wingman and I've got toknow John Bell even more better
(00:44):
than me going to Manila as anambassador to Wingman helping
with remote professionals,what's becoming very clear is
that the current propertymanagement system, whilst it's
not broken, can be significantlybetter, significantly better.
And let me tell you, if youknow this, you can leave your
(01:08):
real estate life as an owner ofa business with a $10, $15
million asset $10, $15 millionasset if you get this right.
And today joining me is JordanSlinger, who is is Jordan
Slinger, who is an amazing BDMan amazing BDM, not me just
(01:30):
saying it recognised as thePremier Award in Business
Development Management inAustralia is the REB Award, and
he is a recipient of it.
I also have with me JonathanBell, who is the owner of
Wingman, as well as the owner ofHouse Smarts.
Tell me, jono, tell me a littlebit more, because everyone
(01:51):
associates you as the guy thatlooks after all the offshore
talent in sales, but a lot ofpeople don't know that you have
an extraordinary real estatebusiness and in fact today I
read I read, if I'm correct thatyour business has been
(02:12):
nominated in an incredible award.
What award is that?
Or is that public?
Jonathan Bell (02:19):
yet yeah, wingman got in the far.
We came sixth in the AustralianFinancial Review for fastest
growing businesses.
But that was Wingman, notHousemarque.
And then the Deloitte techstartups as well.
Tom Panos (02:35):
Okay, congratulations .
Thanks, tom.
I want to remind people theAustralian Financial Review is
not realestatecom, it's not justfor real estate people.
This is for people inpharmaceuticals, in banking, in
media, in every industry, andWingman is now number five.
(02:58):
Well done.
But my first question was aboutthe real estate office that you
own in Brisbane.
That is a specialist propertymanagement business.
When did you start it?
Jonathan Bell (03:11):
9th of March 2019 was our first management, so
five years ago.
Tom Panos (03:16):
Five years ago Actually, I've seen an image
which reminded me of the imageof Bezos starting Amazon.
That little kitchen.
How many managements have yougot now?
Jonathan Bell (03:29):
2,850.
Tom Panos (03:32):
Okay, that's an extraordinary Like team.
Sit down, pull your calculatorand work out an asset base of
that business.
Work out an asset base of thatbusiness, and that's what we're
here today to show you how youcan actually get to that level
not using a push bike, but usinga Concorde Jumbo.
(03:53):
Do it in lightning speed.
And Jordan Slinger is thatperson.
Because Jordan Slinger is theBDM that Jono said.
I want my best person speakingat this.
How are you Jordan?
Jordan Slinger (04:09):
Good thanks, tom .
Thanks for having me on today.
Appreciate it An absolutepleasure.
Tom Panos (04:13):
An absolute pleasure, jordan.
I'm going to ask you a heap ofquestions because I really want
to get down to the bottom of howyou actually have had so much
success.
I mean, we're talking aboutJordan.
Like you started, you won theaward last year BDM Manager of
the Year.
You started seven months agowith Housemarque and you went
(04:36):
from zero to 100 managements ina month.
Extraordinary.
And I've always said, I'vealways said the real estate
company that takes propertymanagement into a sales driven
business is going to win themarket right, win the market.
And I'm pleased to letting youknow that Real Estate Gym and
(04:58):
Wingman are heading in the spaceof that space.
Because right now I don't thinkthere is a blueprint, there is
a plan, there is an encyclopedia, there's a GPS unit that says
do this and at the end of theyear you'll have 300 new
managements.
So I'm curious how do you sign20 new managements a month,
(05:19):
jordan?
Jordan Slinger (05:21):
Yeah, so thanks for having me today, tom.
20 new managements is industryaverage is 10.
So 20 is not a big number to us.
40 is a big number to us.
I think it comes down toactivity what we do on a
day-to-day basis, also takingaway the non-dollar productive
activities from what I do.
I do not do any adminapplications, nothing like that.
(05:45):
My job is to buildrelationships with people that
come across investmentproperties owners, having deeper
conversations than the othermediums that are out there.
Tom Panos (05:55):
All right, Team.
I'm going to put a challengeout to everyone that's watching
this.
Susan, I don't know if you'rethere in the background.
I don't know if you're there inthe background.
I don't know if you're there inthe background.
Yes, you know what I reallyfeel?
Is it too late for us to?
Actually, we are on Facebook,aren't we?
Yes, okay, jono, jordan, I'mgoing to ask a favor.
(06:20):
You're going to offer aone-on-one 30-minute coaching
session to one person on this.
They will do one-on-one, sothis is the prize You'll have a
one-on-one coaching session withboth Jordan and John, who's
going to speak to you about yourissues, which is different to
doing it in front of a lot ofpeople.
(06:40):
To actually enter to win, aswe're streaming these, I want
you to either take photos, shareit on social media, tag me, tag
what do you reckon?
Tag Wingman Jono, or yeah,wingman, yeah, Tag Wingman.
(07:01):
And put down a learning thatyou're getting out of today, and
we will pick a winner at theend of today and announce it.
Those of you that are watchingon Facebook right now all you've
got to do is press the sharebutton, or you can actually do
the same thing.
You can take a photo, put it onInstagram, share it.
Tag Tom Panos, tag Wingman.
(07:21):
Tag Tom Panos, tag Wingman.
Tom Panos, tag wingman.
Tag Tom Panos, tag wingman.
So you believe, jordan, that 10a month is like standard?
You should be doing it.
Jordan Slinger (07:31):
I'm signing 10 a week at the moment.
Tom Panos (07:39):
Okay, I'm just.
How many days do you work?
Six days, okay.
What does the typical day looklike for you?
Jordan Slinger (07:47):
Yeah, so I don't a usual BDM will come in.
I don't come into the officeuntil after midday, so I'm out
meeting people, meeting referralpartners, meeting owners.
Basically buildingrelationships is what I do.
So I come in and then I gothrough proposals using my
(08:07):
offshore, and I don't usuallywork off a computer, I usually
work on my phone.
Tom Panos (08:10):
It sounds like to me you are a leader of a team
that's in delegation mode andyou're delegating activities and
monitoring those activities.
Is that?
What you're saying by you, yeah.
Jonathan Bell (08:26):
Yeah, I think, Tom't think that's possible.
Yeah, I think, Tom, like that'sprobably a big thing.
That Jordan's done really wellis that most BDMs get stuck
doing an entry report, going tothe houses, doing a lot of the
leasing, doing a lot of theback-end activities which
consumes them.
So most BDMs are doing 10managements a month and they say
they're overly busy, and we'vetried to adopt the EBU model,
(08:48):
like you do in sales, whereyou've got the top salesperson
or the top BDM who's Jordan, andwe built a team around him so
he can focus on what he's bestat, which is getting the best
rents, signing the managementsand getting the best results for
the clients and having ravingfans and then delegating
everything else.
And I think that's where a lotof BDMs get unstuck because
there's so much compliance andadmin involved in that leasing
(09:11):
process, they get stuck doingthat on a daily basis.
Tom Panos (09:15):
I really listen, I really love.
The first thing I'm hearing isyour team is prospecting
business, not just processingbusiness.
Big difference, right, big bigdifference.
So your typical day looks likefirst half.
You're out.
I mean out of curiosity.
(09:37):
Someone's watching this now.
Who do you delegate to?
Jordan Slinger (09:40):
Offshore.
All my team workers, all myteam on the coast are offshore.
It's only myself on the groundhere.
Everything else is doneoffshore.
You do not need a massive team,you do not need an office.
Everything can be done usingoffshore, if you do it right.
Tom Panos (09:57):
So when we're talking about offshore, are you
actually using the wingman team,Right?
Oh beautiful, Okay.
Now it's all the jigsaw puzzlescoming together and I want to
ask so on a Saturday, what doyou do on a Saturday?
Jordan Slinger (10:15):
So I'm doing the same thing going out and
meeting people, going to openhomes, dropping bottles of wine
to sales agents, going tofinancial advisors.
Tom Panos (10:23):
You know what I actually think, don't get me
wrong.
I think you must be really,really good, but I reckon part
of the reason why this ishappening is you're just there.
I don't think people do that inthat industry.
I think what we are talkingabout is groundbreaking.
But in sales it's like this iswhat we do, and you know what
that says to me no competitors.
What a free run that you've gotthere.
(10:43):
You've got we do.
And you know what that says tome no competitors, what a free
run that you've got there.
You've got a free run.
And you know what else I likeabout your business.
Yes, in property management youget another strike at it.
You might even miss out, but inreal estate you miss out.
They're gone.
They've sold in Byron andthey've moved to Wollongong.
(11:05):
I don't know why you would dothat, but anyway.
But the point is they're gone.
That client's gone.
There you get another crack atthose.
So I want to ask, jono I'mgoing to get you to chime in as
we're going through here,because at the end of the day,
you run that business how manyproperty managements do you
(11:30):
reckon a property manager canmanage?
Jonathan Bell (11:34):
Yeah, I think industry standard is about 100
to 120 per property manager.
In our business at Housemarque,our property managers manage
double that.
They're managing a minimum of250.
But again we've got the samemodel.
It's like how do we In propertymanagement it's a little bit of
a lemons market whereeveryone's doing it exactly the
same way and there's so muchcompetition in sales and I feel
(11:58):
like in the sales industry it'srun really professionally.
The open homes are amazing, thesupport teams are amazing, the
elite agents are amazing, but inPM it probably doesn't have
that same limelight.
So what we did is all of oursenior property managers we
tried to attract the best seniorproperty managers and we
actually elevated them and wetreat them like our top
salespeople.
So they all get a wingmanoffshore EA in the Philippines.
(12:21):
All they do is landlordcommunication.
Their sole job is to buildrelationships with their current
landlords and try and buildgood enough relationships where
they refer friends and family.
So we've got one of ourproperty managers bringing in 10
managements a month purely fromrelationships of their own
portfolio.
They don't have to do any outof office, so they don't do any
entry reports, any routines, anyexits.
(12:42):
So we're treating our seniorproperty managers like um, elite
sales people, and we create anebu model around them, similar
to what slinger get jordan getson the sunshine coast, which
then means they're managing moreproperties.
We can pay them more.
So our model is the moremanagements you manage, the more
you get paid.
So we're incentivizing ourproperty managers to manage more
properties and begrowth-orientated rather than
(13:06):
you know, want to actually losethe managements because there's
less work.
So we're creating much more ofa growth mindset and a sales
side of the business andcustomer service, rather than
just here's your 120 properties.
Manage them well, and I'm notgoing to talk to you for the
next three months.
Tom Panos (13:21):
Now listen makes absolutely sense.
What you're doing is, mate,people have been doing this
since they've been buildingHenry Ford was building cars
many, many years ago.
Like there are divisions oflabour, this person does this,
this person does this.
I mean, mate, handymen don'tget paid money that well,
(13:42):
because they're not specialists.
Specialists get paid well, andthat's both in trades and that's
both in medicine.
So what you do is you've gotpeople sticking to their lanes.
I'm curious with you.
I was about to use the samename.
He calls you what's?
He call you?
slinger slinger I've only I'vemet you once on a slinger.
Jonathan Bell (14:04):
I just want to ask you, do you?
Tom Panos (14:06):
have.
Do you do like in real estatesales?
We have the listingpresentation.
The listing presentation is thestory.
The listing presentation is thestory.
The listing presentation is thepitch.
It's basically a narrative thatyou've got to give versus two
or three other agents who havegot the same sort of narrative.
Do you have like a stockstandard presentation?
Jordan Slinger (14:29):
I do.
Now all the BDMs are going inand saying we charge this, we
have low vacancy, we have heapsof tenants.
I'm giving more of a story.
Me and my partner have justmoved from Brisbane to the
Sunshine Coast to giveexceptional service and bringing
that story to landlords insteadof jamming down the same
(14:49):
information that every otherreal estate is jamming down
their throats, it's getting alot more of a positive reaction
back.
I think that you've got to knowwho you are and what you're
trying to do, and for me, I'mtrying to provide a service that
is not provided on the SunshineCoast.
Tom Panos (15:05):
Okay, okay.
So if you're the same as thenext person, your typical
landlord's going to say agent,agent, agent, you're the same,
you're the same, you're the same.
They need a differentiator.
That differentiator ends upbecoming fee.
(15:27):
I mean, it's in the simplestterms is you're all shit, you're
real estate people.
Who's the cheapest of theshittest?
That's how the average brainworks, right?
So one of the things thatyou're saying is don't be the
same.
Look at separation, look atUSPs, look at how can I stand
out?
Because you need to stand outto win out.
(15:50):
So I'm curious Give me one ortwo separation points that you
think differences that you'vegot versus competitors.
Jordan Slinger (15:59):
Well, I just give them my story.
I just be as genuine aspossible and say me and my
partner have just moved here andI've left a big business to be
here and I've put a lot ofeffort to be here and there is
no one else that will give theeffort, the amount of attention
to detail as me and I'm notgoing in saying all these other
things that other BDMs aresaying I'm giving them the story
(16:21):
and people want to be on thewinning team.
Tom Panos (16:23):
And I can see why that works because, I mean, I
can just picture it.
You're sitting there in frontof an owner and probably
somewhere along the lines of MrClient, mr Landlord, mrs
Landlord, I want to let you knowI've come over, I've left
everything behind to come hereand you need to know I've got to
prove myself each and every day.
(16:44):
Giving me the opportunity to meis a privilege, not an
entitlement like some of theother agents.
Right, I can just picture whythat?
Jonathan Bell (16:54):
that would have cut through, right, and I think,
tom as well, like what I'venoticed is in sales, when you go
in for a listing presentation,the owner's thinking, okay, I
don't love this personpotentially, but I'm happy to
deal with them for the next 30days because I'm going to get
the best possible sale price Inrentals.
They're actually meeting youand they're saying can I work
(17:16):
with this person for the next 10years?
So it's like they're notactually only looking at are
they going to get me the bestresult, they're actually going.
Can I deal with this individual?
And I think that's very muchour approach.
When we hire BDMs and we getpeople like Slinger.
You want your BDM to be reallylikable.
They actually need to have verylittle ego and they need to be
(17:38):
very much like going in andsaying what are you looking for?
What do you want out of thisrelationship?
Jordan, for example, when Ifirst started the business, my
number one pitch was you get me.
I'm not going anywhere.
You have me for the rest ofyour investment journey.
You can call me anytime,whereas if you go with a big
agency this is when I started Ifyou go with a big agency,
(17:58):
you're going to speak to the BDMand then the BDM is going to
hand you off to the PM.
The PM is probably going toleave the business and you'll
get another PM, and then you'regoing to have someone managing
your property who's never evenmet you or seen your property,
whereas if you're dealing withme, you get me at all times and
I think when you're startingyour rent roller you're looking
to grow.
That is the most compellingargument.
And then over time it changes.
(18:19):
Now we can say hey, we lease100 properties a month.
We're getting thousands oftenants per month come and ask
us for properties.
We've got people specialized intheir roles, so you're getting
someone who's You're getting 10people for the price of one, and
we're not.
There's no key man risk, so ifsomeone leaves, it doesn't
actually impact your property.
So that's a much morecompelling argument than someone
(18:41):
saying we've got low vacancyrates and we have less than 10%
staff turnover.
Landlords don't care about that.
They want to understand whatimpact it's going to have on
them and their investmentproperty.
Tom Panos (18:54):
Man.
I just I want to ask you, jono,like to me, the most common
question.
So I have 50 one-on-ones a week.
Some of those one-on-ones arewith principals.
I don't speak about propertymanagement in most of my
one-on-ones, but when I'mdealing with a principal I often
(19:15):
have things where they say Ijust don't know how to
incentivize my PM departmentright.
I mean, I know we've got ashort period of time here, but
is there any comments that youguys can add to that?
Jonathan Bell (19:29):
Yeah, I think like so typically in a real
estate office.
I'm sure a lot of principals onhere would agree.
You've got the BDM.
They get paid to bring inmanagement, and then you've got
your property manager, who's ona salary.
So the BDM goes out, gets thelisting, gives it to the
property manager and theproperty manager is like I don't
want it, I don't get paidanymore to manage this property.
All you're doing is giving memore work for the same amount.
There's this, like most BDMsJordan would probably agree.
(19:58):
Most BDMs and PM divisionsactually hate each other.
So in our business we believethat growth fixes all problems
and every single part of ourbusiness is focused on growth.
And that's not just growth ofnew managements, but that's
growth of our team.
That's growth of remunerationfor our team, that's growth of
better service.
So everything we do is weattract property managers who
(20:19):
want to grow and want to earnmore money.
So we actually have anincentive program at 250
properties, you earn this, At300 properties, you earn this
and 350 properties, you earnthis and it means that they're
actually property managers.
Go, if I manage an extra 100properties, then I'm going to
get paid this and this is whatit's going to do for my family,
so it actually gives them agrowth path.
(20:40):
Not many property managementbusinesses actually give their
property managers incentives tomanage more properties and I
think that having your propertymanagers see a 12-month plan and
see what their life could looklike based off how many
managements they manage hascreated for us, has created a
growth culture, and propertymanagers are actually coming to
us saying can I manage moreproperties now, which?
(21:00):
is unheard of in the industry.
Tom Panos (21:04):
And that's the way life should be.
It should be performance based,right, and not only that.
I like that because you know,sometimes, remuneration schemes.
You know sometimes remunerationschemes, like I had one
yesterday, guys, where the salesagent was upset with their
associate because they're notdoing the work, and then I said,
(21:26):
oh, what's your remuneration?
And he turned around and hegoes oh, he gets, you know, 2.5%
of everything I write.
And I said, man, have you gotany other jobs?
I said I'd love to come and sitthere and hang out there on
TikTok, sit in the office andpick up two and a half, because
you're basically saying is I'llget two and a half percent based
on what you write, right?
(21:47):
So what we're talking about isreward the behaviours that we
want, reward the people on thestuff that they're doing.
Now can I ask you, slinger, youknow, were you a salesperson
before.
Jordan Slinger (22:07):
No.
Tom Panos (22:10):
So I'm trying to work out.
Is there a specific person thatyou know people should be
looking?
Were you in property management?
Jordan Slinger (22:18):
I was a property manager for about three months
and then moved to a BDM role.
I've always been in salesbusinesses and I've always gone
to sales training.
People want to do business withpeople they like.
So, if I have any advice for aprincipal, hire someone because
they like that person.
Go out to lunch with them, seewhat they're actually like as a
human being.
Are they going to get alongwith the marketplace and then go
(22:41):
from there, instead of hiringsomeone that's not going to suit
what you're trying to do as abusiness?
Tom Panos (22:47):
Okay, as we're going along, we are getting some
questions coming in.
I'm just going to see if we cananswer some of these.
What type of work can yououtsource to the offshore?
In a PM business, most needs tobe done in-house, like routines
, exit maintenance, which is thebulk of the work.
How do you outsource this?
(23:07):
I'm a business owner with arent roll of 100 properties with
a PM.
I'm also a sales agent and verytight on time.
I've got to tell you I'mstressed, even reading, I'm
stressed, reading that.
I'm stressed, anna, I'mstressed Anna.
A hundred properties and you'redoing sales and you've got this
(23:29):
PM there just doesn't stack up.
There's a better way, anna.
There's a better way.
But, jonoer officers, right,thousands of properties that are
populated with remoteprofessionals from Wingman doing
(23:52):
PM work.
Explain.
Jonathan Bell (23:55):
Yeah, so basically like anything.
So all lease documents, allentry documents, like anything
you can do that you don't haveto be at the property at, will
actually be done probably betterfrom the Philippines team, like
they're more dedicated, they'vegot better attention to detail
Organizing maintenance,following up quotes, organizing
your routine inspection run,organizing smoke alarms, general
(24:18):
tenancy agreements, agencyagreements, arranging bond.
So 80% of property managementis actually admin.
We found 80% of the actual roleis actually done is actually
administration work.
20% is dollar, productive orrelationship driven.
So for you, anna, my personalopinion would be get someone to
(24:39):
do 80% of that work.
Employ someone who will doentries, exits and routines and
manage the properties for youand you focus on selling and
bringing in business.
So you'd have for your team,you should have someone offshore
doing all the back-end work,your onshore person's managing
the relationships, doing entries, exits and routines, which is
needing to be done onshore, andthen all you would be doing is
(25:00):
bringing in new business andselling.
Tom Panos (25:03):
Love that.
So, anna, you've got to get offthat hundred.
You got to get off in cricket.
A hundred is a great score inproperty management.
It's a bad score, anna.
You got to get over that numberbecause the numbers just don't
don't stack up there.
Um, and I'm, you know, one ofthe things that has fascinated
(25:24):
me with uh offshore team and itsort of it really hit home when
I was in Manila when I realizedthat people in the Philippines
speak to other people in thePhilippines who are Filipino.
They don't speak.
They speak to each other inEnglish.
(25:46):
They don't speak.
They speak to each other inenglish.
So it's not a case of, oh,what's their english going to be
like?
That's what they speak.
That's what they speak.
Um, jono, can I ask you whatwould the first step like?
So you're someone right nowyou're watching this.
(26:10):
You're a principal, maybe, oryou're a BDM.
You're a principal of BDM.
What's step one?
So, firstly, can you have yourcurrent?
Like?
Some people don't even have aBDM working in the business.
A lot of people don't.
Like some people don't evenhave a BDM working in the
business.
A lot of people don't.
What's your view on the PMmanager also doing BDM?
Jonathan Bell (26:33):
Two different skill sets.
If a PM can do BDM, I call thema unicorn and typically if
they're a unicorn they own theirown business.
So you need they're twodifferent skill sets.
Property managers need to beextremely detailed.
They need to dive into problems.
They need to enjoy focusing onsolutions.
(26:53):
Bdms need to focus on growthand building relationships.
It's really hard to findsomeone who's got both those
skill sets.
They're opposites.
They're actually oppositepersonalities.
So my personal opinion is thatit's hard to get someone to go
from a PM to a BDM.
But if you can do it, then gofor it.
I think the better strategy.
If I owned a business that hadsales people, my strategy would
(27:16):
be find an associate.
Say I want you to be a BDM for2 years.
I want you to buildrelationships with owners.
I want you to bring owners inbecause you're ultimately
building their pipeline for whenthey go to sell and when they
move into sales they will thenhave a pipeline of sellers.
Be a BDM for two years, helpthem grow as a BDM and you're
attracting someone who has salesskills, who has the desire to
(27:37):
go out and prospect, and thenhelp them on that journey.
Hopefully they want to stay asa BDM.
But if they don't, they thenbuild a pipeline of three to 600
managements who then becomefuture sellers in their business
.
I think a lot of associatesstart in sales.
I don't understand why theydon't start as BDMs.
Tom Panos (27:56):
Yeah, I actually think 1 million percent, because
I actually think it would be somuch easier to crack it in BDM
than what it would be in salesas a sales agent, because,
purely because of the numbers,the amount of competitors that
you've got there is a questionthat I was going to ask, but
(28:17):
it's actually been asked bysomeone else rent roll
organically from scratch.
Jonathan Bell (28:35):
Where do you find data for potential owners?
There's probably a fewstrategies that you can use
Depends if you're in a salesoffice.
If I was in a sales office, Iwould call through every single
owner in the database or I wouldbuild really strong
relationships with the salesagents.
Like most sales agents own afew investment properties
themselves.
Most sales agents friends andfamily.
They're very well connected.
There's obviously a fewsoftwares out there that you can
get contact details for thathas really good data as well,
(28:59):
and then also mortgage brokersand financial planners typically
have really good databases aswell.
So I think it's a combinationof building really good
relationships with your networkthat have access to clients with
properties, and then the secondpart of that is leveraging your
current sales team or databaseor software that I'm sure we all
(29:21):
know about.
Tom Panos (29:24):
Listen, I just can't get over the amount of people.
I mean, the next opportunity isright underneath your eyes.
People don't realise that thetradesperson that you call to go
change that washer theelectrician that goes to fix up
that problem has four investmentproperties that you're not
(29:44):
managing.
That owner that you currentlyhave that you're managing has
another three properties thatare sitting with another person
that you just never have asked.
There are organisations in yourarea that have got a thousand
staff in a building.
In that building they havepeople that own investment
(30:07):
properties.
Right, you've got a captiveaudience to come up with a
corporate special, the AMPspecial for all employees of AMP
.
You get this deal fromHousemart.
There are so many opportunities.
What do you think Leah hasasked?
What do you think the maximumamount of property is?
A property manager shouldmanage from end to end.
Jonathan Bell (30:30):
We don't have an end to end model, so it's hard
to answer that question.
I personally don't think youshould have an end to end and it
depends on the property manager.
That's like saying how manysales should a salesperson sell
every year.
Tom Panos (30:43):
It probably depends on the person and their
motivation level, their skillset okay, one question that's
come up is how does the ebumodel, the super team model, the
pot model, if you like it,operate in property management
with licensing requirements?
Jonathan Bell (31:04):
so all of the all of the so to hold a real estate
license.
There's all the Australians aredoing with a license the things
that you need.
So negotiation, showing thehouses, organizing all the
things that you need a realestate license to do.
Your offshore team's doing allthe administration that you
don't need a license to doCalling a tradie and organizing
(31:24):
an invoice or organizing amaintenance request you don't
need a real estate license to do.
Calling a tradie and organizingan invoice or organizing a
maintenance request you don'tneed a real estate license to do
.
And ultimately, the sign-offcomes from the person with the
real estate license in Australia.
Tom Panos (31:36):
And team.
I've got to tell you, you'vegot to get the narrative out of
your head.
Oh no, I'm not like that.
I need that person to be nextto me.
This whole thing doesn't work.
Listen, one guy said to meyesterday he goes, but
realistically, like you know youcouldn't.
You know, like you couldn't doit without you know Susan, and
(31:57):
Susan's not in the Philippines.
Well, to be quite honest withyou, I reckon I've seen Susan
probably as much as I've seenPrincess in the last few months.
Yes, susan is in the nextsuburb, but I would literally, I
mean, I don't see Susansometimes for eight months.
Right, this whole thing about,oh, they've got to be there,
(32:19):
they've got to be there.
She's been working with me for12 years and she could have
basically been in Makati thewhole time.
It's as simple as that, youknow.
And the few times, the fewtimes when she's decided to come
to the studio to do work withme, I send her back.
I send her back because all wedo is chit chat, right, all we
(32:40):
do is socialize.
That's what happens incorporate world, by the way.
Let's be honest, everyone,let's be honest.
They go in there, they walkfast through the corridors, go
to the cafe, sit down chit-chat.
If it wasn't the case, theworld would have slowed, the
world would have stopped duringZoom, but it didn't did it right
, kept on going.
In fact, it got more productive.
(33:05):
So I just and I just want to askthere's a couple of more
questions that I feel guilty bynot asking, because if they've
been good enough to ask and weshould be good enough to answer
them, how do you tackle when youneed to drop a property
manager's pay due taking on lessproperties due to a hire?
I don't think you drop aproperty manager's pay, right?
I don't think that's a propertymanager's pay, right?
(33:27):
I don't think that's the issueto the anonymous person.
All it is is you're basicallysaying is everyone's got access
to this deal, to be accessed tothis deal?
This is what you've got to do.
It's no different to a salescommission.
Up to a million, you're on Xpercent.
At one million to two million,you're on, you know, at another
(33:47):
10 percent.
I don't think you're punishing,you're incentivizing better
performance.
Is that right, john?
Jonathan Bell (33:54):
Yeah, absolutely Absolutely.
There's a good question herefrom Carol to Jordan.
What are the main points thatyou think a BDM should focus on?
Ie, you mentioned open homes.
What else?
What are the top three things,Slinger, that you reckon a BDM
should do?
Jordan Slinger (34:10):
I think meeting external referral partners, if
it's inside, if you have a salesteam in your business, you
should be taking those salesagents out for lunch, breakfast
dinners once a week.
You know you should be buildingthat relationship.
So when they come across aninvestor, you know that that
(34:32):
person will reach out to you andsay, hey, this person's ready
to go.
That's number one.
So activity quality ofconversation, like why did you
buy the investment propertyinstead of you know we charge
seven percent like what is thereason that you want to buy in
this area right now?
Is it because of your kids?
Do you want to move to thecoast?
What does that look like?
And then also stripping awaythe non-dollar productive
activities, I think that's thebiggest one that has marked as
(34:55):
well Beautiful, beautiful.
Tom Panos (35:00):
I'm curious Do you use a manual diary or just your
own productivity stack?
Tell me the things that you use, jordan.
Jordan Slinger (35:08):
So Outlook Outlook Calendar.
Tom Panos (35:11):
All right.
Jordan Slinger (35:12):
Yeah, I don't do any admin, I don't do anything
like that.
It's all done through WingmanOffshore.
I've got one EA that does itall.
That EA is split betweenanother medium on the Gold Coast
.
Tom Panos (35:23):
Your communication with your staff, your remote
professionals, specifically,that are offshore, is doing?
What is it through whatsapp?
Jordan Slinger (35:34):
through teams, microsoft teams.
I facetime jean every morningon the way to work or to my
first meeting and she gives me alist of what I've got today.
Every single lead that comesthrough I send to to her.
Every single proposal I need tosend.
She will email me at 3 o'clockevery day.
So I know that those are doneand she gets BCC'd into those
(35:55):
emails so she knows that they'reall done and then, when they're
done, she will let me know togo home, basically.
Tom Panos (36:03):
Okay, there's a common theme of questions coming
in on incentives to referralpartners, incentives to get
there.
Does that happen in that space?
Jordan Slinger (36:15):
It does.
It depends.
My biggest referral partnersdon't want a referral fee.
They just want exceptionalservice which we can provide.
That's what we've built thisbusiness about.
It's relationships andexceptional service, service
which we can provide.
That's what we've built thisbusiness about.
It's relationships andexceptional service.
It's not.
I think that if you've got asales business, they're probably
referring to someone else, notbecause they're getting an extra
(36:37):
week's rent.
It's because they feel liketheir clients are being looked
after in a better way.
So then when they go to sell,they sell through that agent.
Tom Panos (36:46):
And I'm curious and I know, jono, that your own
business does not really focuson sales yet many real estate
offices that have got sales alsohave rent rolls.
Do you have any views on theway a sales office deals with
their rent roll and whetherthere's a bigger opportunity
(37:07):
that already exists in theindustry in the way that they
speak to each other?
Jonathan Bell (37:12):
Yeah, definitely.
I mean, what sums it up right?
Go to any real estate office.
The salespeople sit at thefront in the beautiful offices
and then the property managerssit in the back corner.
Awards nights every awardsnight you go to all the
salespeople, get up, win theawards, then the property
managers win the awards.
So I think that it's just acultural thing and it would be
as if I was.
(37:32):
I always think I try and putmyself in someone else's shoes.
If I was a property managerearning a salary and every
single day I have 3 salespeoplewalk past me wearing a watch
that's worth more than an annualsalary of a property manager,
wearing a watch that's worthmore than an annual salary of a
property manager, it would stinga little bit.
And having them celebrate ohlook, I just made 30 grand com,
I just made this, I just madethat and having a property
(37:54):
manager sitting there going likeI'm the one doing all the hard
work you come and go wheneveryou please and you're earning
quadruple me.
I know they're completelydifferent industries and you've
got to have a certain skill set,but it wouldn't be a nice
feeling to be reminded of thatevery single day.
I don't have the solution to it.
(38:17):
But I think, culturally, Ithink principals could look at
how do we make property managersfeel more worthy and how do we
get them to respect their joband respect this business.
And I think, first things first, sit them at the front of the
office or give them the awardsfirst and do some little things
that give them that recognitionof the tough job they do that
ultimately is the asset of thebusiness.
Tom Panos (38:34):
And I think, listen, when I go to the UK and speak at
conferences, I'm justgobsmacked that you're right.
In sales in Australia, you knowthe Gav Rubensteins, the nice
cars, the nice clothes, thepeople that have got a spring in
(38:56):
their step you look at them,you think to yourself, oh,
that'll be a salesperson.
But in the UK I was sogobsmacked like BDMs and
property managers are seen likethe winners in.
There are no different to thewinners in sales, right?
And the reason is, I think,that they have seen that you can
work in a real estate businessfor 20 years.
At the end of the year, theowner, all the commissions that
(39:19):
have come in, has gone.
It's gone to salespeople, it'sgone to expenses, depending on
what kind of a principal you are.
It might have even gone on cars, it's gone on holidays, it's
gone on whatever.
But what they have got is thisasset worth $20 million, right?
(39:39):
So they understand if we lookafter our people, they will look
after the clients, and if welook after the clients, the
business gets looked after.
And that's what you're saying.
If you want your clients to belooked after and if you want a
momentum spread saying, useHouse Smarts, you've got to look
(40:03):
after your people, because thenthey feel proud.
A couple of other questions.
Alex B is asking what aboutremote areas like Cairns?
Are you thinking we can stillachieve the same numbers, such
as the Sunshine Coast, brisbaneand the Gold Coast?
Any views there?
Jonathan Bell (40:22):
Yeah, I think it's just a mindset.
It's like I always make sure wehit a record month in December
because everyone thinks that youcan't make sure we hit a record
month in December Becauseeveryone thinks that you can't.
Everyone thinks that everyonetapers down in December and I
think that for us we want toramp up.
So I think I mean I don't knowthe stats, but why not?
Like, if you tell yourself thatyou're not going to be able to
hit the same numbers, youprobably won't, but I can't see
why you can't get the sameresults?
(40:44):
I think a lot of investors buyin Cairns.
I think there's a lot oftownhouses and apartments from
memory that investors buy inthose areas.
So why not?
I don't have the stats to backthat up.
Tom Panos (40:55):
You know it took decades and decades and decades
for someone to achieve afour-minute mile.
The minute it was achieved,then everyone started doing it.
Right?
It's the most bizarre thing,right?
The most bizarre thing thatonce it's done, it shows it can
(41:17):
be done.
So often it is your view on it.
I'm going to ask maybe one morequestion.
It's a difficult one.
I don't even think you'll haveno one's got the answer to this.
It's an ongoing project, Ithink, but I'd love to hear some
of the views you've got whenlooking to recruit property
managers.
(41:37):
By the way, thank you.
This is a record number ofquestions, which says to me the
appetite of people on thissubject is very high.
Which says to me the appetiteof people on this subject is
very high.
Where do you find propertymanagers?
Jonathan Bell (41:52):
yeah, it's tough.
I mean you should have it.
If you're a business, if you'rea head of department or gm or
um principal, you should have apipeline of property managers no
different to a pipeline ofsales or a pipeline of um of
landlords.
So we know that if someoneleaves in our business, we know
who the next property manager is.
(42:13):
So our, our theme of ourleadership team has always be
recruiting.
We've got a floor from sales,which is usually the other way
around.
You can find property managers.
They're everywhere.
I just don't think that peopleare spending the time and effort
in always be recruiting.
So I think you should have apipeline of property managers
that you continue to meet andyou should just have a KPI of
meeting three potential propertymanagers a week.
(42:34):
Speaking of have a KPI ofmeeting three potential property
managers a week Speaking toproperty managers from other
businesses saying, hey, we'renot looking yet.
If an opportunity opened upnext year, would you be open to
it?
What are you looking for inyour career?
How can we support you Justcontinuing to be having meetings
and building that pipeline?
Tom Panos (42:47):
I love that line.
I love that line.
We're not looking yet right,and you know what?
They're probably not lookingyet either, but there's going to
be a fight in the office atsome point in the next year.
They're going to walk out ofthe meeting and the first person
they're going to ring is theperson that's been jabbing away
quietly and saying I like thatperson.
(43:07):
So what you're saying isinstead of just listing property
, start trying to list people.
Make that a process in yourbusiness property.
Start trying to list people.
Make that a process in yourbusiness.
Right, jordan, you'll be kindenough.
We're going to select a winnerat the end of today.
Susan will pick a winner up onsocial media.
(43:29):
I want to thank you so much forjoining us today.
I also want to let people knowthat, prior to coming on camera,
I spoke to Jonathan about webelieve the marketplace is dying
for on-the-ground content thatis done from people that are
(43:53):
already doing it their audiomatching, their video, people
that have walked the path thatyou want to walk, and on March
the 6th, we are going to have aBDM property management day that
is purely targeted to owners ofbusinesses with their team, and
(44:14):
you will be receiving the fullblueprint.
You're going to end up gettinga manual.
You're going to get a manualthat is going to be A to Z,
that's going to tell you this isnumber one how to run your rent
roll, how many people youshould have.
We're going to look at ratios,kpis, profitabilities.
(44:34):
Then we're going to also have alook at the system to adding 30
properties every month.
March the 6th is the day youguys that are on here are going
to get first crack at it.
We're only going to get a venuethat's going to end up having
around 200 people.
So this will be a genuinesellout.
(44:57):
Jono Slinger, I want to thankyou so much.
Unless you want to add anythingelse, all I can say to you is
that you know what I'm pumpedabout.
I'm pumped about because Ireckon that there's at least
five people that are sittinghere that, all of a sudden, have
got excited, thinking tothemselves.
(45:18):
It'll be a principle thinkingto themselves.
Man, all I've got to do is takethe process that I've got in
sales.
Then what I've got to do isfind people that are already
doing it.
Go off and plagiarize howsmart's doing.
Why go off and reinvent thewheel?
And you've been very generousand kind.
(45:39):
I know that you've been runningaround the country various.
What do you call them?
I see them online where peoplecome together.
Jonathan Bell (45:49):
Roadshows.
Tom Panos (45:49):
Roadshows.
Jonathan Bell (45:51):
What are those roadshows?
They're just a one-day eventsimilar to what we'll do
together, tom, in March, butwe're going to ramp things up in
March.
But basically we just givepeople the playbook of how we've
done what we've done and how weutilise Wingman to be able to
give growth within businessesand profitability.
Tom Panos (46:10):
All right To all the others.
I know that there's 23questions there that haven't
been answered.
We'll make sure they'reanswered on March the 6th.
Time is up, guys, time is up.
Please, if you haven't done it,take a photo right now, put
some of your learnings and thenwhat we will do is pick a winner
(46:31):
.
Susan will pick a winnertonight, and then we will line
up a Zoom one-on-one coachingsession with Slinger and Jono.
I want to thank you so much forjoining us.
Everyone.
Suns out, guns out.
Have a great day, enjoypickleball.
(46:54):
I have got one common thing welove, and that is we both love
Pickleball Because he's the nexttennis player.
But that's another story.
Jonathan Bell (47:05):
All right, thanks , tom, see you guys.
Bye, see you.
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