Real estate management will never be simple, and many real estate managers are facing bigger obstacles than ever before. Prospective tenants’ changing real estate needs, unstable economies and wage insecurity, fluctuating real estate and labor markets, and other factors all contribute to making the real estate management process more complicated.
Your real estate management team, as well as yourself, are all pros of course. You’re the ones who make sure things operate smoothly for your owners and tenants, and it takes a lot of time, effort, and money to do so.
However, there are times when seeking guidance from a third party, such as a real estate management consulting expert, could be advantageous. To say the least.
An experienced real estate management consultant, such as those on the Pearl Lemon Consulting team, can help you figure out how to improve the efficiency of your operations, how to resolve the biggest challenges you’re currently facing, how to prepare for those on the horizon, and even how to increase the income your landlord clients yield from their investment.
Is it Really Beneficial to Hire a Real Estate Management Consultant?
Pearl Lemon Consulting, as seasoned real estate management consulting experts, realizes that the first question we – and other Real estate management consulting firms – are likely to hear is, “Will hiring a Real estate management consultant actually benefit my business?”
When you work with Pearl Lemon Consulting’s team of skilled real estate management consultants, you’ll be bringing in new (and objective) sets of eyes to help you uncover opportunities for improvement and progress.
In some cases, a real estate management consultant would be unable to help. Hiring a real estate management consultant will not equip you with growth or a readiness to attempt new things if your company isn’t serious about it.
If you are a new or experienced real estate management business owner willing to give a consultant a chance to be heard then implement the corrections they suggest—you will be able to benefit significantly from a consultant’s guidance, regardless of the types of properties you manage or where they are located.
What Does Real Estate Management Consulting Look Like in Terms of People, Processes, and Technology?
A real estate management consultant will go over your processes in depth determining what is already excellent and what can be improved to keep up with changing best practices.
This will include evaluating a number of different areas to see which ones can be improved. Remember that in order to make more money, please more people, or extend your tenant base in general, your present real estate management system does not have to be “bad.”
We’ll discuss the following subjects (and many more) if you choose to work with Pearl Lemon Consulting: as your real estate management consulting team:
Your Property Management Team
It’s easy to slip into the trap of’ managing the business around the people,’ retaining the wrong mix of personnel, especially in small organizations, while knowing that the work actually demands people with diverse skill sets.
Real estate management consultants can help you design a strategy for progressively and methodically modifying your workforce planning so that you hire – and keep – the most valuable employees.
We can also help you create and implement a career development plan that will allow you to offer valued current employees with additional skills training that will benefit their careers as well as your company. This single act can be the key to attracting and maintaining the employees you need to greatly increase your real estate management efficiency – and success.
Your Methods
Any employee wastes time, loses confidence and is a lot less efficient when it’s unclear which way is “right”.
Streamlining your real estate management company demands aligning your processes and recording them effectively for future employee training. By doing so, you’ll boost your staff’s efficiency while offering better service to your clients, and we’ll show you how.
We’re also business strategy experts, so we can help you figure out how this efficiency is helping your firm expand and stay lean, whether it’s through the use of KPIs and metrics or the establishment of five-year goals, and how to transform it into reporting that your real estate owner clients will love.
Real Estate Management Technology
From how you promote properties for your clients to how you collect rent online, there are great software packages available now that can help you complete the most mundane elements of your everyday real estate management work with 100 percent precision and consistency.
However, if you don’t take the time to learn how to utilize these software solutions and onboard your employees and renters the first time, they can be pricey and time-consuming, and they may quickly fail.
Our consultants work hard to ensure that you fully understand the value-add of technology advancements so that you can connect with clients and tenants more quickly and reliably while also improving the number of productive hours for your employees.
Where Changes Need to Made First
Many of these considerations are likely to be familiar to you. You might, however, have a few blind spots, much like anyone who gets stuck on a task after staring at it for too long.
The goal of a real estate management consultant is not to criticize, but to find ways to improve. In certain businesses, especially in real estate, a process becomes so routine that no one asks, “Why do we do it this way?”
Our real estate management consulting team makes it a point to ask these questions, and they share what they learn when they find a better, faster, and less expensive way to deliver high-quality solutions.
Yes, it takes being open to change, which is challenging for everyone, but it can also lead to happier employees, better tenant sourcing, happier residents, and a more successful business for both you and your landlord clients.
The Impact of a Real Estate Management Consultant Over Time
While we want to help you achieve rapid results from a real estate management consulting project, don’t expect us to wave a magic wand and solve everything in a day—especially if you’re in a crisis.
Your firm is ultimately yours, and if you make big improvements to your operations, people management, and technology, you’ll notice a positive impact. Because there is always a start-up cost in terms of time and resources, we usually predict however that some of these benefits will take time to be fully apparent.
Learning how to successfully use new real estate management software, for example, takes hours at first but soon lowers to minutes (or less!) of effort per activity, resulting in huge cost savings.
Real estate management consulting experts will also show you how to analyze your company in a methodical and repeatable manner. Even after the initial project is over you will be able to repeat the steps we followed to periodically reevaluate your business to ensure you stay as streamlined, efficient, and profitable as you’d like.
We'd Love To Hear From You!
A real estate management consultant’s value rises over time. If you’re ready to see where your people, processes, and technology can be enhanced to improve your bottom line, get in touch with us.
We’d love to explain how the Pearl Lemon Consulting team can help.