How do you choose your PM?

[jmillar]

I'm trying to choose a PM for my 2 new purchases in Beenleigh and Eagleby, QLD. I've managed to shortlist 3 offices out of the 6 or 7 I spoke to - the 3 are LJ Hooker, Raine & Horne and Harcourts (all in Beenleigh).

These 3 all seem competent, they have good local market presence, their fees are very similar, they all conduct inspections every 14-16 weeks etc etc.

Anything else I should be considering before I pick one out of a hat?

Cheers

 

[DaveM]

Recommendations from SS is a good start

I recently had to find a new PM for an IP after terminating the incumbent - I checked the web to see who had a strong listing presence in the surburb, and contacted the 3-4 most prevalent agencies after reviewing their sites. I then based my decision based on initial impressions of the agency and response times for callback to my inquiry or emails.

Callbacks ranged from under an hour to 3 days.. was interesting to compare.

 

[jmillar]

Thanks Dave,

The PM you recommended me for my Penrith IP has proven to be great! Unfortunately no one from SS could recommend anyone in Beenleigh that I was happy with..

All 3 called me quickly and were able to answer all my questions.. I might just call them all again tomorrow with some random questions and see which one I get along with best..

Cheers

 

[r3ckless]

Mine was just from the same office as per the RE I boughtmy property from. Main reason for this was fees. All I pay is just 5% PM fees and monthly statement fee..

 

[datto]

I ask my PM for a quick 5 min coffee break. I then judge how much BS he can squeeze in , in 5 minutes. If its less than 2.5 minutes then its thumbs up. 50% is as much BS I can tolerate from a PM.

 

[impala67]

I ask my PM for a quick 5 min coffee break. I then judge how much BS he can squeeze in , in 5 minutes. If its less than 2.5 minutes then its thumbs up. 50% is as much BS I can tolerate from a PM.

LOL - you sort of get a feel for them after awhile. The less BS the better really, as Datto so eloquently said. If they can't answer simple questions quickly, or tell you in the least amount of words where they think the market is and why, with examples etc. - it is a safe bet to skip to the next one. Also, try and avoid getting passed onto a trainee/new recruit.

 

[jmillar]

LOL - you sort of get a feel for them after awhile. The less BS the better really, as Datto so eloquently said. If they can't answer simple questions quickly, or tell you in the least amount of words where they think the market is and why, with examples etc. - it is a safe bet to skip to the next one. Also, try and avoid getting passed onto a trainee/new recruit.

Good point - I'll call them tomorrow with some simple questions and also ask WHO will be managing my property.

Cheers

 

[datto]

Just make sure the PM pays for the coffee. The last thing you want is some tight wad agent.