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John Goddard, The Best do Best when times are tough


John Goddard, The Best do Best when times are tough

“The truth is incontrovertible, malice may attack it, ignorance may deride it, but in the end; there it is”

Claimed soldier, politician and statesman, Winston Spencer Churchill.

This quote particularly resonates with me at the moment, at a time when global and local real estate markets are under significant pressure and business owners can expect that pressure to continue for the next few years.

I was recently at the Robert Bevan organised Best Practice Principals Retreat in Queensland. The event now in its 22nd year is attended by some of the best business owners in the industry and its speakers are people recognised as real estate leaders, not the crowd pulling “motivators” or “entertainment presenters” other events often include in their programme.

If you are focused on becoming one of the top 10% performing agencies in ANZ it’s worth learning from the experts who are there as delegates and speakers. A great example of an inspiring session where the bad was shared with the great was delivered by Philip Webb from Melbourne. Philip’s business is widely recognised for its brand and market leadership in northeast Melbourne, but few would know how important property management has become in recent years. In essence PM is the generator of essential cash to support a sales business under competitive and market stress. Fast approaching 6,000 properties, Philip delivered a very clear message that if he had his time over again, property management would have received much more of his attention. Property management would have also played an even greater part in the evolution and growth of Philip Webb Real Estate.

Sydney business owner Michael O’Sullivan from Prudential Real Estate Campbelltown and Queensland’s Andrew Coronis from Coronis Brisbane shared the stage to outline the workings of their property management divisions, where each manage over 3,000 properties. Both business owners talked about the synergies of using property management to feed sales and using investors to grow their rent rolls. Michael and Andrew have always been close to the daily operations of their property management businesses and both covered the importance of an eye for detail and sound financial management of sales and PM operations.

Another topic covered by a number of the presenters, but one not often addressed by business owners at similar events, was the importance of developing staff and encouraging their feedback to build an even stronger business. One speaker openly shared his shock and initial anger about the 360 feedback he and his business partner received from their team. As soon as he recognised the impact his behaviour was having on team members, he quickly sought counsel on how best to change. In a market where staff churn is generally high, time will tell if there has been a real change. However it was clear that immediate benefits have already been seen by staff and the owners.

So what do these lessons mean and why refer to Churchill? Well sometimes simple truths are overlooked. Here is my take of some simple truths from this conference:

The market for sales will remain difficult for some time, potentially the next 2-3 years Preparing honest business plans which include a detailed understanding of cash flow in your business will become essential to make a reasonable return (15 to 20%) from your business Property management opportunities should be maximised, even if the rent roll is currently small Take every opportunity to train your staff in the business skills they require every day to do their job.

John Goddard is the General Manager of Marketing and Sales at Rockend. The businesses mentioned in this article are users of Rockend software and services.  


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John Goddard, The Best do Best when times are tough