Database Goals: 5 Goals To Set for 2018

Uh oh. Has 2017 just come and gone? And you’ve still not got ’round to cleaning up your property management database? It was there at the top of your ‘to-do’ list last year – but now it’s 2018 and it’s taking you forever to access your valuable information. You’re spending too much time re-entering names, double-handling client information on spreadsheets and drowning in data. 

If this is the case in your estate agency, you’re not doing yourself or your clients any favours! Having access to accurate, clean data swiftly is where success lies for all businesses – particularly for property management departments. In today’s blog the team at hastings+co provide you with 5 achievable database goals to ensure that 2018 is your agency’s most productive year yet.

Goal One: A Serious Database Clean Up

Property management databases become flabby and disorganised for a multitude of reasons – time constraints, a team’s limited knowledge of the software, inconsistent data entry, staff turnover; the list goes on! Make no bones about it – a clean, accurate database is the first goal you should conquer in 2018.

Wondering where to start your ‘New Year New Database’ clean up? Here are some ideas to kick you off:

  • Have you logged your lease expiries?
  • Have you calendared any rent reviews or increases?
  • Have you scheduled your smoke detector safety checks?
  • Where’s your archiving at?
  • Are your management authorities up to date?
  • How about your tenant and owner contact details?
  • Are you emailing all statements? It’s well and truly time to cut out the snail mail!

Goal Two:  Increase Efficiency and Generate Revenue.

If your database is overrun with double ups, now-irrelevant client details and notes you’ve not revisited since the 90s – your database is costing you and your team more than time – it’s impacting upon your bottom line. Hours of lost productivity due to outdated systems and processes may mean you’re over-staffed, or just under-performing as a group. Clean up your act and free your team from scrabbling through the database on the daily, allowing them to focus on revenue-earning activities and their to-do list. Not only will you enhance daily productivity, you’re set to generate greater revenue and increase your returns significantly.

goldendata

 Goal Three: Get More Done In Less Time

Regular evaluation of your property management database is the key to peak efficiency in your real estate business. hastings+co‘s database health checks are a practical way to ensure you’re getting the most from your technology, freeing you up to get your productivity on. Trust us, you’ll be ticking off those tasks in no time!

Goal Four: Completely Rely On The Accuracy Of Your Database

Many property management departments have client data stored in multiple locations – on their CRM, in hardcopy files, in excel spreadsheets. This means that property managers waste time looking to multiple resources to check client information before making important calls. Data hygiene and keeping all your client information within a central, single CRM is critical – it saves you time, makes knowledge-sharing a part of your agency culture and helps you have more accurate conversations with your landlords and tenants.

Goal Five: Extract Actual and Anticipated Management Reports

Once you’ve nailed goals one to four, your property management database will be ship-shape and filled with accurate information. This positions you to enjoy the best reporting your agency has ever experienced. Confident in the knowledge that your data can be 100% relied upon, your whole team will be able to extract actual and anticipated management reports with ease. This gives your business the tools to set relevant KPIs and to focus on areas of your practice you’d like to improve result across.

If you need support to conquer these database goals, we recommend engaging our expert team to perform a renowned hastings+co database health check! We’ll provide a comprehensive, structured review of your database, outlining any areas for improvement. Let’s get started on achieving best practice for your property management department by optimising that database for 2018!

Switching Off: Saying No to Notifications

This morning when you woke up, you made a pact with yourself to leave the office at 5:30pm. You were going to walk the dog, make a delicious dinner and do that load of whites you’ve been putting off. Yet it’s somehow 8:30pm already and you’ve been saying ‘one last email’ for the past two hours. Sound familiar?

Whilst a get-it-done approach to working in real estate isn’t a bad thing – it’s great to have a passion for what you do and the determination to hit your KPIs – the best way to achieve your goals is with a clear outlook and a focused mind. And the way to this happy state of focus? Taking time out!

For many property managers and real estate professionals, it’s difficult to find the ‘off switch’. Property managers in particular are multi-tasking champions, and expert at prioritising tasks – but there is a limit to what any single human can do in a day.  There comes a point where one must simply log off, sign out and lock up – acknowledging that the work day is done! Switching off in the age of buzzing smart phones, notifications and pinging email alerts is easier said than done. In today’s blog, the team from hastings+co offer some practical tips to help you power down and give your mind a much-needed rest.

switchingoff1

  1. Say no to notifications.

Heard of airplane mode? Use it! By setting yourself a cut-off time (such as 7pm) and switching your smart phone to airplane mode, you’ll still be able to listen to your favourite Spotify playlist and snap a picture of the sunset on your evening walk – but your notifications will be on pause. Alternatively – if totally disconnecting from the internet scares you silly –  simply mute your notifications – especially emails! You’ll still be able to Google the weather for the weekend and look up that Pad Thai recipe you’ve been dying to try – but your out of office time will be uninterrupted. And don’t worry, your emails will still be there tomorrow.

  1. Set yourself some boundaries.

Remember that predicament we discussed above – where 8:30pm rolled into the office like it was nobody’s business? Prevent the sorry leaving now! lost track of time text messages by setting yourself an alarm for workday. Perhaps set one for 5:00pm – where you can stop and take a moment to consider what absolutely must be done before close of business. Then, set one for 5:30pm, 6pm and 7pm. This way time can’t slip through your fingers. You’re conscious of the hours passing and in control of how you’re spending your evening.

  1. Choose a way to relax

Whether it’s spending time with your family and friends, cooking, reading a book or watching The Crown on Netflix, it’s important to factor relaxation into your day. It may seem like an obvious tip – but if you’re used to being ‘on’ all day, this truly can be a struggle. Find something you enjoy and make sure you prioritise it!

Success in the real estate industry doesn’t come from clocking the most hours in a week, but from having the energy to perform to the very best of your ability when you are at work. So, for a little balance and some much-needed personal time – do yourself a favour and switch off!

Meet the Team: Jade and Leonie

In today’s blog, we’re pleased to introduce you to Jade Dobbie and Leonie Byron – two wonderful new additions to the hastings+co team. In conversation with General Manager Shannon Vallance, the ladies discuss their day-to-day roles, share their take on the real estate industry and give us the insider goss on the best playlists to play for ultimate trust accounting productivity.

Shannon: Hi ladies! We’re so happy to have you both on board. Can you share your roles at hastings+co and the critical elements of your position?

Jade: My role at hastings+co is as Trust Account Manager to my direct clients. In my role it’s really important to have fine attention to detail whilst always remaining a step or two ahead, identifying any potential problems that might arise for a client. Time management is important, too!

Leonie: I’m also a Trust Account Manager. And for me, the three most important skills to bring to my role at hastings+co are accuracy, efficiency and having an eye for detail. It’s great to work with a team who share so many similar values.

Shannon: What are your stories ladies? How did you come to be at hastings+co?

Jade: I recently moved to Melbourne from Darwin on a whim, and was lucky enough to come across hastings+co – and I’m loving it! I have been working within the real estate industry for nearly six years, and have experience in property management, office management, general accounting, HR and trust accounting. My previous role in Darwin was within a small real estate business, which challenged me to take on many roles simultaneously. It was a perfect opportunity to learn about the various aspects of agency compliance. Subsequently, I have a deep knowledge of best practice across an agency.

updated 2

Leonie Byron, Trust Account Manager

Leonie: Growing up, everyone (myself included!) thought I would become an accountant, as I loved working with numbers and money. But I soon realised my heart wasn’t 100% in it. During University, I decided I wanted to work in real estate and the following year I became a Property Manager. I enjoyed my time working within property management  -I learned so much – but ultimately the role was not right for me. I took some time out and decided that I wanted to become a Trust Account Manager – that’s when an opportunity at hastings+co appeared! My role is a perfect combination of both accounting and property management.

Shannon: What are you looking forward to most about working with hastings+co’s clients?

Jade: The diversity of the clients we assist means no two days are ever the same. Working with hastings+co clients from across Australia is awesome: it’s satisfying to help support agencies work through compliance and trust accounting matters – and it’s fascinating to see how different clients work within their own businesses.

Leonie: I enjoy bringing my accounting and property management knowledge to bear upon the conundrums of hastings+co’s clientele. I appreciate how much peace of mind having a trust accounting professional’s skills on-tap can offer real estate agencies.

Shannon: Which elements of trust accounting practice do you enjoy most?

updated

Jade Dobbie, Trust Account Manager

Jade: I find reconciling and fixing errors very fulfilling! Finding a problem, investigating what went wrong and how, and then finding a solution is always interesting. Every change is part of a larger story for each agency client.

Leonie: I enjoy ensuring all statements are exact – down to the very last cent! I know that such a process might seem extremely tedious to some –  but when everything balances perfectly it’s fantastic, a great feeling!

Shannon: Sometimes the real estate industry gets a ‘bad rap’. How do feel about that?

Jade: I do agree that the industry has a ‘bad rap’. In my opinion, that’s because people are more likely to talk about a bad experience than they are a good one. It’s a 24-hour, 7-days-a-week industry, which means those who work within it are bombarded from every direction at all hours. I find most bad experiences can be resolved or prevented if communication is priority. That’s how we manage things at hastings+co.

Leonie: The real estate industry unfortunately does have a poor reputation with the public. Unfairly so! When it comes to competing for property – whether you’re a buyer or a tenant –someone is always going to miss out. This is when negative feelings about estate agents emerge. We know our clients have many demands upon them. That’s why hastings+co’s range of services are here to support our clients when they need extra assistance.

jadequote_facebook_post_3

Shannon: They’re really great insights, ladies. Ok, let’s change the mood a little – who are your sources of motivation, what do you find inspiring?

Jade: There are many that come to mind, I find the people who stand out strongly to me are honest, kind, vibrant, mindful people. I’ve been fortunate to meet many amazing people from all walks of life – it’s those with these qualities that always stick with me.

Leonie: The people I am inspired by the most are resilient – those who give you the sense that you can achieve anything you put your mind to.

Shannon: Finally, let’s talk music! What is your favourite Spotify playlist to work to?

Jade: I am loving the personalised daily mixes that Spotify comes up with. They are a great mix of songs Spotify thinks I would like or songs I have forgotten about! My music is a mixed bag from Rock to Rap to RnB.

Leonie: Discover Weekly or Billboard Top 100 – always!

hastings+co are excited to welcome Jade and Leonie to our team. Today’s blog is just a brief taste of their vibrant personalities and passion for real estate trust accounting. They’re looking forward to working with all our wonderful clients.

Meet the Team: Rana, Alarna and Leilani

At hastings+co, clients have often remark: it’s our people that make us their number one choice for outsourced trust accounting. And it’s easy to see why: we love what we do! Helping real estate agencies across Australia and New Zealand become more efficient with each owner payout made, our unique team of accounting professionals are growing as demand for our  service increases. Meet our latest team members: Alarna, Rana and Leilani – and find out what drew them to the hastings+co team, the qualities they bring to the business and what they love most about working in real estate.   

alarna-hastingsandco_sep16_60456ok2

Alarna Sewell, Trust Account Manager

What is your role at hastings + co, and what are the three most critical elements of your position?

I’m a Trust Account Manager. I believe that an extremely high attention to detail is critical when dealing with clients’ trust accounts. It’s so important to remember that you’re not just dealing with numbers – it’s clients’ money and confidential information. Time management is also essential in ensuring all of my clients’ deadlines are met. You can really interrupt their working day if they’re not! Lastly, communication. I always make it a priority to keep my clients informed and updated.

Can you please give a brief history of how you came to be at hastings + co? Have you come from a real estate background, an accounting background or both?

I’ve always had a passion for real estate. Landing my first industry role on reception in 2011 was the perfect way to start out. I later moved across to property management, while continuing to assist with sales administration. I loved my time working as a property manager, although I did miss the administration and numbers side of real estate.

What are you looking forward to most about working with hastings + co’s clients?

After working as a property manager for the past few years, I have a strong understanding of the accounting challenges that can arise. I’m looking forward drawing on this experience when it comes to providing clients with the best possible service. It’s great to be able to make someone’s day that little bit less stressful.

What are two elements of accounting practice or real estate that you didn’t expect to find interesting – but which are most fulfilling?

When working at an agency, I didn’t expect to come across some of the properties I’d seen and the unique stories behind them. Then in trust accounting, clients’ office procedures can vary greatly. When you identify that you’ve adjusted to all these unique processes, you realise how much you’ve learned.

The real estate industry sometimes gets a ‘bad rap’. How would you describe the industry you service?

Unfortunately, people generally talk more about bad real estate experiences over good ones. Unless you’re behind the scenes, you often won’t realise how much work is involved in maintaining a successful real estate business. You’ve got to put in the hours and keep up-to-date with changing legislation and trends.

Emotions can come into play, too! In real estate, it’s often someone’s home you are dealing with, not just a property. Whether it’s a tenant looking for their next home or someone selling a home that they’ve lived in for the past 20 years, it is always just that – someone’s home.

Can you name two individuals you find inspiring, and describe why?

No one in particular comes to mind, although I’ve met a number of inspiring people who have taken the time to share their wisdom. I suppose it’s more of a collective impact.

What’s your favourite Spotify playlist to work to?

I use Pandora to flick between RnB stations and contemporary hits. Christmas is coming up, too – so I’m happy to take in some Christmas songs!

rana

Rana Noble, Assistant Trust Account Manager

What is your role at hastings + co, and what are the three most critical elements of your position?

My role at hastings+co is Assistant Trust Account Manager. The most essential part of my job is ensuring my work is completely accurate. I support the office with a range of tasks, too, so flexibility and time management are also key. You get very good at prioritising!

Can you please give a brief history of how you came to be at hastings + co? Have you come from a real estate background, an accounting background or both?

After completing an administration course, I started my real estate career as a receptionist on Phillip Island. It wasn’t long before I moved to Property Management as Holiday Rentals Manager. Following this, I moved to Melbourne and continued as an Admin/ Assistant Property Manager. When I was granted the opportunity to become more involved with the Trust Accounts department, I realised that I was definitely keen to develop my skills in this area.

What are you looking forward to most about working with hastings + co’s clients?

To be able to manage a smooth, transparent and stress-free system, for and with hastings+co’s clients.

What are two elements of accounting practice or real estate that you didn’t expect to find interesting – but which are most fulfilling?

Commercial invoicing is very different to residential invoicing, but I really enjoy ensuring that amounts, portions and GST’s are calculated accurately. Learning new programs is also interesting – you get a bird’s eye view of their similarities and differences.

The real estate industry sometimes gets a ‘bad rap’. How would you describe the industry you service?

I think in any industry we tend to find the bad experiences more interesting than the good! The truth is, I’ve worked with some really diligent, passionate real estate agents who only want to improve how people view the industry – so hopefully perceptions are changing.

Can you name two individuals you find inspiring, and describe why?

Nelson Mandela’s passion, dedication and the sacrifices he made for the fight against apartheid and for peace in South Africa is a true inspiration. I also admire Malala Yousafzai – a Pakistani activist who has worked hard to improve education for children, young girls and women.

What’s your favourite Spotify playlist to work to?

I’ve created my own playlist of favourites from the past few years. It’s got everything from Lana Del Ray to Vance Joy and Bruno Mars.

leilani

Leilani Gliatsos, Trust Account Manager

What is your role at hastings + co, and what are the three most critical elements of your position?

As a Trust Account Manager, I look after rentals and sales trusts, as well as payroll and bookkeeping. The top three key elements of my role would have to be a very high attention to detail, time management and efficiency!

Can you please give a brief history of how you came to be at hastings + co? Have you come from a real estate background, an accounting background or both?

I’ve been in real estate since I was eighteen! I started off on in reception, with a traineeship in business administration straight out of high school. Within a year I was managing the Trust Account – I’d found my groove! I’ve since completed a Diploma in Business, along with training courses in MYOB, Excel, Console and RP Office. I was seeking a more challenging and varied role where I’d be exposed to an array of different software programs – that’s when I found hastings+co.

What are you looking forward to most about working with hastings + co’s clients?

I’m mostly looking forward to learning the new systems and procedures for our clients. With offices across Australia and New Zealand, I’m sure there will be different aspects of real estate that I haven’t come across before in the Bayside suburbs of Melbourne.

What are two elements of accounting practice or real estate that you didn’t expect to find interesting – but which are most fulfilling?

Believe it or not, combing through software and picking up errors is one of my favourite aspects of the job! I always strive for perfection. For me, the greatest thing about trust accounting is that perfection is required down to the last cent.

The real estate industry sometimes gets a ‘bad rap’. How would you describe the industry you service?

I sympathise with property managers – they’re the middleman between landlords and tenants. Even the weather can affect how many emails they’ll have waiting in their inbox when they get to work! As for sales, I’ve recently purchased a home myself, so I know how stressful and upsetting it can be to miss out on your dream home. I think a lot of purchasers incorrectly blame agents for the cost of buying these days.

Can you name two individuals you find inspiring, and describe why?

Environmental activist and photo journalist Paul Watson has worked really hard to stop whaling. I also admire Yeonmi Park – I recently read the autobiography about her harrowing escape from North Korea.

What’s your favourite Spotify playlist to work to?

I’m happy with the radio – Gold 104.3 is my station!