The Journey from 0 to 3000 Properties: Is It Difficult or a Matter of Letting Go?Apr 05, 2023
During my conversations with property managers, it's common for them to express disbelief and shock when I share our projections for their growth potential. Many simply can't imagine how it's possible to generate the numbers we see on a daily basis from our clients. I recently had a conversation with a team that manages 250 properties and they were shocked by our projections for them. This is a common theme that I feel compelled to address, especially for those property managers who want to grow their business while efficiently managing that growth and offering a phenomenal customer experience.
As someone who has worked in both property management operations and sales, I understand the challenges of managing a mis-fit owner who refuses to invest in their property or a tenant who won't pay rent, which can result in a poor review that isn't our fault. At the same time, I understand what it takes to be a top performer in sales. I closed 455 SFR properties my first year in sales, was promoted to Sales Director, and helped Evernest break into 7 new markets before my exit. So when I say that a top performing BDM should be able to close 250 - 400 additional properties with our proven solutions, it tends to make people's jaws drop and I have to hold back my understanding giggle. So what's holding property managers back?
In my opinion, it comes down to whether you're truly ready to grow. Growth requires letting go. You have to let go of the notion that no one can sell and qualify like you do. The reality is that someone else who has the gift of the gab, tenacity, and desire to learn who is 100% dedicated to a singular role will outperform you every single time. Whether it's a Client Opportunity Advisor who focuses on outbound prospecting and can generate 8 - 12 qualified leads for you per week or a Business Development Manager who closes those leads, the only way you'll see massive growth is if you replace yourself with someone who is singularly focused on one outcome.
Of course, managing operations in tandem is key, but it is possible to manage growth with ease if you're truly ready to let go and prepare by hiring specialized talent before the fires happen. Maintaining reserves is essential, but being overly frugal due to fear will impede your ability to scale your organization. Identify bottlenecks, hire great people who don't have to wear a thousand hats, and leverage the specialized resources around you.
And hey, if you want some help on the road to success, whether that means RevSales, RevOps, RevMarketing, RevRecruiting or a referral to a trusted vendor we know will help you, we've got you covered. The RevUp Mastery Team is committed to helping property managers achieve their goals and reach new heights of success.
Don't be shocked by the idea of taking on an additional 250, 500 or 1000 new properties per year with the right support; shoot for the stars, not your competitor down the street.
Author: Maya Madden
If you've read this and are back, the former employer mentor jury has an official verdict; Maya definitely closed more properties 😉