EOFY Wrap Up 2020-21
With the new Financial Year now upon us, we took a moment to reflect back on the past 12 months and asked some of our Directors to share their perspectives.
Can you share a feel-good story on a particular client that you supported through a challenge?
We had a landscaper who had attended a property to do some work. And the vendor had called me back saying, Jim, we’re not happy with the amount of plants that the landscaper has planted. So I said, “Okay look leave it with me, I’ll see what I can do for you.”
I went over to a local nursery, loaded up my car with about 20 to 25 plants, went back home, loaded up the boot with the shovel and pretty much planted the extra plants and got it all right for them – I felt that they’d be a lot more happier.
I spoke to them and they said, “Jim we’re really happy now with the way that it’s been done!” And I said, “Great – just to let you know, it was me that went back out, the landscaper didn’t have time to go back and do it himself.” So I just took it upon myself to get it done as we had a photo shoot the next day and I just didn’t want to miss the deadline.
What was the biggest problem that you encountered and how did you cope?
The team at Love has been amazing this past year. Adjustments had to be made quickly, all the way from our juniors to our directors, and we were pretty much went remote in seven days. From offices open to everyone working from home, which in any other situation, that would be something that might take six months to organize! And it was done within seven days and everyone adjusted to it really, really well.
When you’re faced with adversity, people overcome things and that’s just what happened. I think most importantly, the transition from working from the office to home for our clients was seamless. So other than not being allowed to do inspections and not being allowed to do auctions and that type of thing, offices were able to run from home, which – I couldn’t believe it. I still can’t believe it!
What kept you motivated during the last 12 months?
I think the fact that we stuck together, we faced the challenges and overcame them together. We innovated, we did all these things together as a team and really leaned on each other. So that certainly kept us going.
And from a professional point of view, it was also a very challenging year for our clients, for our renters and rental providers in particular and helping them through what was a very difficult time was also quite motivating for us to keep going as well.
What was your greatest learning and most rewarding experience?
The last 12 months has been a very unusual time in real estate. I think one of the things we’ve learned is we’ve had to be able to very quickly adapt and adjust to meet current rules, regulations, and changes in market conditions.
In order to do this, we’ve had to use the latest technology. People still need our services in buying, selling, and renting real estate so we’ve had to be able to service those needs. One of the things in using latest technology is that I think a lot of people do get overloaded with messages and emails etc. so there’s still nothing like that personal contact of a phone call or a face-to-face meeting to discuss, people’s needs and requirements – it’s just as important as ever.
As far as a rewarding experience. I think I’m really proud of our team, our sales and our rental team. It’s been very difficult periods, but they’ve adapted and adjusted. And I believe that the service they’ve offered to their clients has been absolutely first class. And the feedback we’ve had from our clients has, has supported that, with the use of technology, and working from home, they’ve really achieved some great results.
What were the achievements worth celebrating from the past year and what are you most proud of?
Every year, every business has its moments, but I think with COVID-19 and working from home, I think it was the way that our staff adapted to that. I guess they had the opportunity to sunbake in the backyard, but they didn’t do that. They worked hard and probably in some instances harder than they had before. So I felt very thankful that we got through that period. And I really felt thankful that I had the staff that we had because they did a fantastic job.
What were the innovations that took place in the last 12 months?
It was really innovation just to allow us to work remotely and quickly. We moved within three weeks to having a remote team, remote phones, and it was incredible in the fact to see the team come together and work together collaboratively to provide a solution to our clients at a time when there was so much uncertainty in the community.
The innovation at first was really just a survival innovation, be able to do it. And then we came together as a group and really looked at rather than taking existing processes and just electrifying them, what are the technologies available for us to draw on and utilize where we can take an old existing process and utilize new technologies so that we’re able to give better client experience to both our tenants and our landlords.
Can you share some tips for investors as the new Financial Year begins?
The 2020 year has been a challenging year for investors. And certainly it’s given everybody the opportunity to reflect on their investments. The incoming legislation by the Andrews Government around minimum standards has seen a lot of a change to attitudes toward housing and investing in the housing market.
My tip to all investors alike – be strategic around your maintenance and be strategic around bringing your property to a standard, if it isn’t, or maintaining that standard so that you are attracting a better quality tenant, you are getting a better return on investment, and you’re deemed to be doing the right thing for our community.
Feel free to watch the interviews on the Love & Co YouTube Channel here.