TRYING TO GROW A PROPERTY MGMT DIVISION - MEMPHIS, TN

2 Replies

I have recently branched out on my own and opened my own firm. We currently are looking to build our management division. I'm trying to think of new ways to build this division. Any suggestions. We do agent- to -agent marketing offering a referral. I'm looking to market for BIGGER opportunities. (portfolios etc) 

Medium screen shot 2016 08 10 at 9.12.02 amJeffrey Smith, JASCO REALTORS® | 9018714663 | TN Agent # 322248, MS Agent # 21256

Who did you branch out and away from? 

Good luck, starting a management company from scratch is difficult.  

If I were to suggest local companies to try and imitate I would suggest the following:

Premier Property Management

CB Properties

SPM Management

Good luck

Medium buymemphisnow stacksCurt Davis, Buy Memphis Now | [email protected] | 605‑310‑7929 | http://www.BuyMemphisNow.com | TN Agent # 00321765

As an investor, I think it always comes down to cost and service. But if you're trying to get someone to jump from an existing firm, I think cost would be the way to go.

As it sounds like you're looking to grab some portfolio clients, why not offer them something like "first leasing fee on EVERY property is free".

So if they have 10 properties and all are occupied, there is no gain to them immediately. But as each property becomes vacant, they'll get it leased up for free the first time. Only for existing properties they own when they sign up (fine print).  So if they add 2 more and you lease those, you get to charge.

As an investor, that would make me at least consider you. 

I still say, the hook I would use is no fees for leasing. If your goal is truly to grow a new business, that would definitely tip the scale.  Although I understand that most PM firms can't make money unless they charge those fees. So maybe you say no fees for leasing for the first 12 mos of service.

Or reduced fees for leasing for 3 years.....