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Women in Business: Rising as Leaders

More and more women are now breaking the glass ceiling and making it to the top of the corporate ladder. It’s time for us to celebrate and recognise their contributions and encourage more women to pursue leadership positions.
According to a report by McKinsey & Company, companies with more diversity at the top tend to perform better financially. This means that having women in leadership positions is not only a matter of gender equality but also good business sense.

However, while more women are in business now than ever, there is still much room for improvement. The same report also found that although women make up about half the population, they only hold about a fifth of senior leadership roles globally. This calls for more action to close the gender gap in leadership and empower more women to take on this challenge.

One way to do this is to celebrate and showcase the accomplishments of women in leadership. From Mary Barra, the CEO of General Motors, to Sheryl Sandberg, the COO of Facebook, to Ursula Burns, the CEO of VEON, women have shown that they, too, can lead and excel in traditionally male-dominated industries. We need more examples like these to inspire and encourage the next generation of women leaders.

Another way is to provide support and mentorship to women who aspire to be leaders. Women should be given equal opportunities to access education, training, and networking to build their leadership skills. They need mentors and sponsors who can guide them through the challenges and give them the necessary feedback and support to succeed.

Last but not least, women need to raise their voices and be heard. They should not shy away from speaking up and advocating for their ideas and interests. They should push back against gender stereotypes, biases, and discrimination that hinder their progress. They should demand fair treatment and equal pay for equal work.

In conclusion, women in business have come a long way, but there is still a long way to go. Let’s celebrate our progress, recognise the leaders who paved the way, and continue to support and empower the next generation of women leaders. Let’s raise our voices and be heard, and ensure that women’s voices and perspectives are fully represented at all levels of business and beyond.

Why Property Management Staff in Australia Should Consider Mentoring Programs

To succeed in their careers, property management staff in Australia need to continually develop their skills, gain confidence, and access additional resources. At Stills Properties, we believe that mentoring programs are an effective way for property management staff to achieve these goals. In this blog post, we will outline five key reasons why property management staff in Australia should consider participating in a mentoring program.

Employees are Seeking Career Development:

According to the CIPD’s Employee Outlook Survey, 22% of employees are looking for a new job. Research also suggests that “lack of opportunity” was the primary reason for individuals leaving their organisations over the past year. Participating in a mentoring program can help property management staff gain access to career development opportunities that they may not have had otherwise.

How to Implement: property management staff can seek out mentoring opportunities within their organisation or through professional organisations in the property management industry.

Employees Want Mentoring:

Recent research by Penna has found that 20% of employees would like to be mentored but are not currently receiving mentoring, and an additional 40% of employees have never had the opportunity to be a mentor or mentee. property management staff who participate in mentoring programs can fulfil their desire for mentorship while also gaining valuable insights and guidance from experienced mentors.

How to Implement: property management staff can express their interest in participating in a mentoring program to their supervisors or seek out mentoring opportunities through professional organisations.

Mentoring Provides Opportunities for Learning and Development:

A comprehensive study by Gartner revealed that mentoring offers numerous benefits, such as increased salary-grade changes, higher promotion rates for mentors and mentees, and higher retention rates for both parties. This indicates that mentoring is a valuable tool for property management staff who want to develop their skills and advance in their careers.

How to Implement: property management staff can participate in mentoring programs that are specifically designed to help them develop their skills and gain experience in their field.

Mentoring Benefits the Organisation:

Mentoring programs can benefit organisations by reducing turnover, increasing organisational commitment, promoting knowledge sharing and retention, and enabling early identification of top talent. Many executives who have had a mentor say it played a key role in their personal career success. For that reason, mentoring is considered a best practice in developing high potential.

How to Implement: Organisations can create and promote mentoring programs that are specifically designed to benefit property management staff and the organisation as a whole.

The Most Successful Organisations Have Mentoring Programs:

Research shows that 71% of Fortune 500 companies have a mentoring program in place. These companies recognise that the learning and development that leaders can gain through mentoring relationships is difficult to gain through other methods such as training classes, seminars, and books.

How to Implement: property management staff can seek out mentoring opportunities within their organisation or through professional organisations that have established mentoring programs.

Conclusion:

Participating in a mentoring program can help property management staff develop their skills, gain confidence, and access additional resources that can help them succeed in their careers. If you are a property manager in Australia looking to benefit from over 30 years of experience building successful property management businesses, reach out to to Stills Properties today!

The Shortage of Rental Properties: How It’s Affecting Renters

The shortage of rental properties has been a growing concern for renters across the country. It has caused frustration and stress among renters, especially those with low incomes and government subsidies. This shortage, coupled with increasing rental prices, is creating a housing crisis that is affecting more and more people every day. In this blog, we will explore the impact of the shortage of rental properties on renters and what needs to be done to address this issue.

The Rental Market: An Increasingly Competitive Space

The rental market has become a fiercely competitive space, leaving renters with fewer options to choose from. As the number of rental properties decreases, more and more renters are competing for the same listings, making it difficult for them to secure a property that meets their needs. This competition has also resulted in increasing rental prices in many areas, making it more challenging for renters to find a property that is within their budget.

The Effect on Renters: Stress and Frustration

The shortage of rental properties and increasing rental prices are causing stress and frustration among renters. Many tenants are finding it difficult to find suitable housing within their budget and preferred location. As a result, some renters are forced to settle for a property that meets fewer needs, while others are compelled to look outside their ideal location. This situation is particularly difficult for low-income renters who rely on government subsidies to afford rent. The lack of suitable housing options may lead to health issues for some renters, making this an urgent issue that needs to be addressed.

A Growing Housing Crisis

The shortage of rental properties and increasing rental prices have created a growing housing crisis for tenants across the country. As rental prices rise, more people are being pushed out of their homes or into overcrowded living conditions as they search for more affordable options. In some areas, tenants are now moving in with friends or renting a room, leading to further complications for both the owner and managing agent.

The Need for Affordable Housing

There is an urgent need for affordable housing options for low-income renters. The shortage of rental properties and increasing rental prices are creating significant challenges for these renters. Without affordable housing, more and more people could be forced into homelessness or unsafe living conditions. Government agencies and non-profit organisations need to work together to provide affordable housing options for those who need it the most.

Conclusion

The shortage of rental properties and increasing rental prices are affecting renters across the country. It is causing stress and frustration for many, particularly those with low incomes and government subsidies. The shortage of affordable housing options is also creating a growing housing crisis that needs to be addressed urgently. More needs to be done to provide affordable housing options for low-income renters to ensure that everyone has a safe and secure place to call home.

The Ten Most Common Challenges of Property Management and How a Coach and Mentor Can Help

The Ten Most Common Challenges of Property Management and How a Coach and Mentor Can Help

As a property manager, you are responsible for the upkeep and maintenance of a property, dealing with tenants, collecting rent, and managing a budget. All these tasks can be challenging, and it’s not uncommon to face some difficulties. In this article, we will discuss the ten most common challenges of property management and how a coach and mentor can help you overcome them.

Introduction:

Being a property manager is a demanding job, and it’s not for the faint of heart. You need to deal with a multitude of tasks, from managing budgets to dealing with tenants, and keeping the property in good condition. It’s a job that requires a lot of skills and expertise, and even the most experienced property managers can struggle with some challenges. In this article, we will look at the ten most common challenges of property management and how a coach and mentor can help you overcome them.

The Ten Most Common Challenges of Property Management:

Finding and Retaining Good Tenants:

  1. One of the most challenging aspects of property management is finding and retaining good tenants. It’s crucial to have a reliable screening process to ensure that you rent to responsible tenants who will pay on time and take good care of the property.

Dealing with Difficult Tenants:

  1. Dealing with difficult tenants is another common challenge for property managers. You may encounter tenants who are always late with their rent or who damage the property. Having a coach and mentor who can provide guidance on how to deal with difficult tenants can be beneficial.

Maintenance and Repairs:

  1. Maintaining a property and addressing repairs is an ongoing responsibility for property managers. It’s crucial to have a plan in place to address maintenance issues promptly and effectively.

Budget Management:

  1. Managing a budget is an essential aspect of property management. You need to balance income and expenses and ensure that you have sufficient funds for maintenance and repairs.

Compliance with Laws and Regulations:

  1. There are various laws and regulations that property managers need to comply with, such as fair housing laws and building codes. Failing to comply with these laws can lead to legal issues and financial penalties.

Communication with Tenants:

  1. Clear and effective communication with tenants is crucial to maintaining a positive relationship. It’s essential to have good communication skills and be able to respond to tenant concerns and questions promptly.

Time Management:

  1. Property managers have to juggle multiple tasks and responsibilities, which can make time management a challenge. Having a coach and mentor who can help you prioritize tasks and manage your time effectively can be beneficial.

Marketing Vacant Units:

  1. Marketing vacant units is essential to attract new tenants. You need to have effective marketing strategies in place to ensure that your property is visible to potential renters.

Technology Adoption:

  1. Adopting technology can help property managers streamline their processes and increase efficiency. However, it can be challenging to keep up with the latest technology and identify which tools are best for your property.

Employee Management:

  1. If you have employees, managing them can be a challenge. You need to ensure that they are well-trained, productive, and motivated.

How a Coach and Mentor Can Help:

Working with a coach and mentor can help property managers overcome these challenges. They can provide guidance, support, and advice on how to handle various situations. Here are some ways in which a coach and mentor can help:

  • Provide expert advice and guidance on best practices in property management
  • Help you develop skills in areas where you may need improvement
  • Help you identify and address areas of weakness in your management approach
  • Offer strategies for dealing with difficult tenants or challenging situations
  • Provide support and motivation to help you stay focused and on track
  • Help you identify and adopt the latest technology and tools to improve your management processes
  • Help you develop a plan for employee training and management.

Working with a coach and mentor can be an invaluable resource for property managers. They can help you overcome challenges, improve your skills, and develop a more effective management approach.

FAQs:

Q: How much does it cost to work with a coach or mentor?

A: The cost of working with a coach or mentor varies depending on their experience and the services offered. Some coaches and mentors may charge an hourly rate, while others may offer packages or programs. It’s important to research different options and find a coach or mentor whose services align with your budget and goals.

Q: Can a coach or mentor help me with specific challenges, such as dealing with difficult tenants?

A: Yes, a coach or mentor can provide guidance and strategies for dealing with specific challenges you may be facing as a property manager. They can offer advice on how to communicate effectively with tenants, address issues promptly, and maintain positive relationships with tenants.

Conclusion:

Property management is a challenging job that requires a diverse set of skills and expertise. The most common challenges of property management, such as finding and retaining good tenants, managing budgets, and dealing with difficult tenants, can be overwhelming for even the most experienced property managers. Working with a coach and mentor can be an effective way to overcome these challenges, develop your skills, and improve your management approach. Whether you are a new or experienced property manager, seeking the guidance and support of a coach or mentor can be a valuable investment in your professional development.

With over 30 years of experience building successful Property Management businesses, Brigitte Stills has overcome every one of these challenges and is now focusing on helping others do the same! Reach out today to secure a spot.

The Importance of Networking in Real Estate: Building Connections for Success

Networking plays a vital role in the success of a real estate business. When I first started out in the 70s, networking helped me overcome many of the challenges I faced in a male-dominated industry.  I built relationships with whomever I could. I became friends with a lot of people. Because of this, I was able to see great success and develop the trust which has been the cornerstone of all my successful endeavours. This article highlights the importance of networking in real estate, the benefits it brings, and how to build meaningful connections that can lead to business growth.

Introduction:

Real estate is a highly competitive industry, and it’s challenging to stand out in a sea of professionals. The key to success in real estate is not just about hard work, dedication, and expertise, but also about building a network of meaningful connections. Networking is a powerful tool that can help real estate professionals expand their reach, attract clients, and close more deals. In this article, we will explore the importance of networking in real estate and how it can contribute to your success.

Headings:

  1. Building Relationships: The Foundation of Networking in Real Estate
  2. The Benefits of Networking in Real Estate
  3. How to Network Effectively in Real Estate
  4. Common Networking Mistakes in Real Estate
  5. FAQs About Networking in Real Estate
  6. Conclusion: The Importance of Networking in Real Estate

1. Building Relationships: The Foundation of Networking in Real Estate

At its core, networking is all about building relationships. In real estate, developing meaningful connections with clients, colleagues, and industry professionals is crucial. Networking allows you to:

  • Meet potential clients and establish trust and rapport with them
  • Connect with industry professionals who can provide referrals or collaborate on deals
  • Learn from the experience of others and share your knowledge and expertise
  • Gain exposure and raise your profile in the real estate community

By building relationships through networking, you can position yourself as a trusted advisor and a valuable resource for your clients and colleagues.

2: The Benefits of Networking in Real Estate

Networking provides a wide range of benefits to real estate professionals, including:

  1. Referrals: Networking helps you to connect with people who may refer clients to you. These referrals can come from other agents, lenders, attorneys, or even past clients.
  2. Access to Information: Networking allows you to learn about the latest trends, regulations, and changes in the industry. You can also gather insights from experienced professionals and learn about new technologies that can help you grow your business.
  3. Collaboration Opportunities: Networking provides opportunities to collaborate with other real estate professionals. This can help you to expand your reach and offer more services to your clients.
  4. Personal Growth: Networking helps you to develop your interpersonal and communication skills, which are essential in building and maintaining relationships.

3: How to Network Effectively in Real Estate

Networking is not just about attending events and collecting business cards. It requires a strategic approach to build meaningful connections. Here are some tips to help you network effectively in real estate:

  1. Know Your Target Audience: Identify the people you want to connect with and focus on building relationships with them.
  2. Attend Industry Events: Attend conferences, trade shows, and seminars to meet new people and learn about the latest trends in the industry.
  3. Be a Good Listener: When you meet new people, listen to them and show interest in their business. Don’t just talk about yourself or your services.
  4. Follow Up: After meeting someone new, follow up with them to stay in touch and build the relationship.
  5. Be Authentic: Be genuine and authentic in your interactions. People will be more likely to trust you and refer clients to you if they feel that you are sincere.

4: Common Networking Mistakes in Real Estate

Networking can be challenging, and it’s easy to make mistakes that can damage your reputation or hinder your ability to build connections. Here are some common networking mistakes to avoid in real estate:

  1. Being Too Pushy: Don’t be overly aggressive in promoting your services. Instead, focus on building a genuine connection and providing value to the other person.
  1. Not Following Up: Following up is essential in networking. If you fail to follow up with someone, they may assume that you’re not interested in building a relationship with them.
  2. Neglecting to Listen: Listening is a critical skill in networking. If you’re not paying attention to the other person, you’re unlikely to build a meaningful connection.
  3. Failing to Show Up: If you commit to attending an event or meeting, make sure you follow through. Failing to show up can damage your reputation and hinder your ability to build connections.
  4. Only Networking When You Need Something: Networking should be a long-term strategy, not just a short-term tactic. Building relationships takes time, and you need to invest in it regularly.

5: FAQs About Networking in Real Estate

  1. How often should I attend networking events?

There’s no one-size-fits-all answer to this question. The frequency with which you attend networking events should depend on your availability and the events relevance to your target audience.

  1. Can I network online?

Yes, online networking is becoming more popular and can be a valuable way to build connections with people who you may not have met otherwise. Social media platforms like LinkedIn, Twitter, and Facebook can be used to connect with other real estate professionals.

  1. What should I do if I’m shy or introverted?

Networking can be challenging for shy or introverted people, but it’s not impossible. You can start by attending smaller events or finding someone to attend events with you. You can also practise your conversation skills and try to focus on being curious and listening to others.

6: Conclusion: The Importance of Networking in Real Estate

Networking is a crucial element in the success of any real estate business. Building meaningful connections with clients, colleagues, and industry professionals can provide you with referrals, access to information, collaboration opportunities, and personal growth. Effective networking requires a strategic approach, a willingness to listen, and a commitment to building long-term relationships. By making networking a priority, you can position yourself as a valuable resource and grow your real estate business. Start your Journey to becoming a better networker and reach out for my Mentoring and Coaching Services. I’m always here to share my experiences and help you grow your business along the way.

Contact us today to discuss.