MRI Software is a national reseller partner for Propic. It released a critically important report in early 2022 called 'The Voice of the Property Manager' that triggered many important conversations, and critically, calls for industry change. Propic is passionate about a digital transformation in the property industry that releases people from archaic, soul-destroying repetitive tasks that can be automated into human-centric work that raises the profession back to being a people-first service industry that drives aspirational employment, and national economic growth.
Below is a summary of the Top 10 Findings of the landmark Voice of the Property Manager report for your easy reference, and we've added some of our insights from pioneering agencies using AI and proptech as to their experience:
1. Most Want to Close the Customer Experience Gap
👀 WHAT WE SEE in Pioneering RE(al) Life
Propic customer Leah Jay Real Estate specialises in property management.
The 28-year strong agency receives about 15,000 inquiries per month. Using Propic Enliven AI technology 99.89% of those are now answered without any human interaction, including sending tenancy applications. The Leah Jay team went from 1,200 emails in their inbox to zero while providing 24/7 accessibility and responsiveness to clients.
“One of the great things about Propic, or having AI in our business, is it really operates like a silent employee. We are really, totally 100% hands off. It just operates in the background, providing that consistent service to our clients 24/7.” Cassandra Lantry, General Manager Leah Jay Real Estate
2. The Busyness Factor
31% of professionals with 200+ properties on their rent rolls report being "far too busy".
👀 WHAT WE SEE in Pioneering RE(al) Life
Propic research shows most property management tasks can be automated. Which means workload becomes more manageable, and professionals can focus on human-centric work that drives revenue, builds relationship, and enhances the investment of landlords and owners, and the experience of tenants. Our pioneering agency owners report being able to double and triple their rent-roll portfolio sizes with no change in headcount.
"Automation has allowed the [Leah Jay] team to be able to take on extra additional tasks, increase efficiency, and feel like they are actually kicking goals. Instead of answering ongoing thousands of inquiries we can actually dedicate more time to prospective tenants and their individual needs." - Rebecca Eveleigh, Leasing Manager, Leah Jay Real Estate
3. Aggressive or Abusive Landlords or Tenants
👀 WHAT WE SEE in Pioneering RE(al) Life
Sentiment analysis is a feature of intelligent proptech we are big fans of at Propic. Its ability to detect an angry tone of voice or abusive language means your people are protected from front-line abuse via any digital channels, and the vast majority of issues can be resolved by your digital concierge, any time of day or night. Imagine how much a heads-up would minimise the trauma we see reported in disturbing figures like these 👆🏻 among 60% of our property managers. And principals, it's time to listen and believe your people.
"COVID definitely created a lot of challenging times and situations for owners, tenants and perspective tenants. Now if they have a complaint or an issue, Propic directs them to the right place so it's not lost in among emails. They get automatically directed to the right person who can then address and discuss that concern with them." - Rebecca Eveleigh, Leasing Manager, Leah Jay
4. They need #proptech tools
👀 WHAT WE SEE in Pioneering RE(al) Life
Software upgrades every 2-5 years may have been enough in the past. But look around. When's the last time you paid in cash at the shops? When's the last time you watched a DVD? When's the last time you sent a fax? Posted a letter? Stood in line at a bank to deposit rent payments? The pace of change is unprecedented, and cloud-based PropTech is not a thing of the future anymore. It's now. This new generation of professionals will give you more if you give them what they need. And they need the right proptech tools. ASAP.
“Those businesses that were tech-enabled before COVID are now taking an awful lot of market share away from mainstream [agency] businesses”. - Kylie Davis, proptech analyst, speaker + author of Voice of the Property Manager as reported in REB
5. Most don't feel they have the right training
6. Hybrid hopes
7. Hopes dashed: most aren't allowed to work from home 🤷🏻♀️
8. The Great (RE)signation
9. Mental Health Struggles
👀 WHAT WE SEE in Pioneering RE(al) Life
This finding 👆🏻is one that hurt us the most to read, and gives us the most hope at Propic too: AI technology can and should relieve so much of this burden for your people. This incisive but very confronting article by news.com.au into some of the trauma and abuse behind these numbers is a difficult but necessary read. Change is urgent.
"There's more joy in my job now that everything's more automated with Propic." - Rebecca Eveleigh, Leasing Manager, Leah Jay
10. Career growth optimism slipping
👀 WHAT WE SEE in Pioneering RE(al) Life
Propic genuinely restores hope and professional positivity in property managers.
"I think the future is very bright for real estate and property managers. " - Rebecca Eveleigh, Leasing Manager for Leah Jay
"What I'm loving about the property management industry right now is the way it is evolving and innovating. With technology, specifically Enliven, we're able to connect with our clients in a much more seamless capacity. - Cathie Crampton, Head of Property Management, Place Estate Agents
Methodology
The Voice of the Property Manager 2021 Report surveyed 773 respondents from across the property management industry to identify benchmarks around key employment issues, satisfaction levels and priorities. It was conducted late 2021.
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