Jay Berube, a sales expert, joins me in this episode to talk about sales in and around the property management portfolio system. We’ll talk about sales with tenants, owners, and investors. We’ll dig deep into the details, including a lot of specific numbers. This topic is kind of neglected inside the property management realm, so don’t miss this episode!
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Jay has been selling real estate for 14 years and has sold over 1400 homes. He also owns a property management company and has helped over 3,000 landlords that way. As if that weren’t enough, he has also built up a real estate coaching business. His expertise, though, is sales.
It’s common, Jay points out, for property management companies to refer their sales outside of the company. This is lost revenue, however, and keeping sales internal can be the right choice for many property management companies. After all, property management is all about maximizing your revenue. Jay recommends looking at the five key factors in real estate: your lead gen, lead follow-up, lead conversion, delivery and service, and repeat and referral business.
Tune into the episode to hear about all of this in depth! We’ll also dig into other important topics like reduced commissions for property management clients, whether to have a listing agreement in your property management paperwork, investor pocket listings, brokerages, and much more. If you’ve ever wondered about how to increase your revenue or handle sales as a property manager, this is the perfect episode for you.
Here’s where you can find today’s guest:
[01:46] - Brad introduces today’s guest, Jay Berube.
[02:52] - We hear from Jay about his history in the property management and real estate industry.
[04:58] - Does Jay ever see property management companies that refer sales to someone outside the company for a cut of the commission?
[07:51] - Jay offers his advice on how to keep owners from straying and looking at another realtor.
[11:26] - Jay digs deeper into the short life cycle with real estate agents as opposed to the long-term relationship between property managers and clients.
[13:44] - Does Jay do a free annual CMA for his owners as a property manager?
[16:47] - Jay talks about what he uses as a CRM platform on the sales side. He also shares his advice on recovering when an owner has a problem.
[22:14] - We learn whether Jay offers a reduced commission inside the property management agreement, or leaves it at the customary number.
[25:06] - Jay discusses whether to have listing paperwork in the property management agreement that creates the agreement to list the property automatically.
[26:07] - Brad reveals what he does in this regard within his property management company.
[31:41] - We hear about a client satisfaction guarantee that Brad heard recently, as well as his thoughts on dealing with USAA.
[35:19] - Jay responds to Brad’s points, sharing his own thoughts on the subject.
[37:52] - Brad describes bad churn, neutral churn, and good churn. He and Jay then talk about specific numbers and splits.
[42:46] - Jay asks Brad how many transactions would generally be from the PM as opposed to self-generated.
[46:26] - What is Jay’s thought process on the topic of helping people develop good investor buyer’s agents?
[50:08] - Brad switches the subject to investor pocket listings.
[52:24] - Jay takes a turn sharing his thoughts on pocket listings, which he doesn’t approach in the same way.
[55:40] - We hear about brokerages, with Jay talking about his thoughts and strategy.
[59:28] - Jay talks about his training options and how he can help people.
[62:08] - We hear more about what Jay does and where people can find him.
[65:26] - Jay shares some parting words for listeners.