In a recent episode of our podcast, we had the pleasure of hosting Rebecca Halton, the CEO of LJ Hooker Residential in East Perth. Rebecca shared her journey, insights, and strategies that have led to the growth and success of her agency.

The Journey of LJ Hooker Residential

Rebecca began by giving us a brief introduction about herself and her agency. LJ Hooker Residential currently manages around 2000 properties and boasts a large sales team. They have recently expanded their operations by taking on another office in Yokai.

When Rebecca first joined the business in 2010, the property management business had only 400 properties under management. Over time, she took on the role of CEO and the business has grown organically and through acquisitions to nearly 2000 properties.

The Evolution of Property Management Structure

Rebecca shared the changes she made to the property management structure, including implementing a reward structure based on customer service and outsourcing tasks to virtual assistants. She also discussed the transition from outsourcing inspections to having an in-house inspection team. This allowed for better communication within the office and provided a training ground for new team members.

The Importance of Growth and Improvement

Rebecca believes that as consumer and employer expectations change, it's important to be open to new opportunities and advancements. She acknowledges that not all offices may be in a growth mindset, but she believes that it's essential for businesses to adapt and thrive.

She also highlighted the importance of creating opportunities for growth and development for her team members. Her management style focuses on empowering her team members and allowing them to make decisions within their roles.

The Office Renovation: A Step Towards Evolution

Rebecca and her team are currently undergoing office renovations, a decision that was made to stay ahead and evolve as a business. They initially considered a five-year plan, taking into account the retirement of a colleague, Frank, who is already 75 years old.

The new office will have 66 desks, with 34 permanent and 32 hot desk style. Rebecca emphasizes the significance of this renovation for the team, as it brings a sense of pride and attracts different clientele.

Staying Ahead in the Real Estate Business

Rebecca discussed the importance of staying ahead in the real estate business. She believes that even smaller portfolios should strive to stay half a person ahead in terms of staffing. She also emphasized the need to be strategic when implementing new programs or technology, seeing these as investments rather than expenses.

She advises regularly checking in with the team to address any issues or pain points and encourages business owners to constantly think one step ahead and consider ways to improve the office environment and culture.

Insights and experiences provide valuable lessons for anyone in the real estate industry. Emphasis on growth, innovation, and staying ahead of the curve are key takeaways from our conversation. As Rebecca puts it, "staying the same is equivalent to going backwards," and as a leader, having a closed mindset is detrimental to the business.

In the ever-evolving world of real estate, it's crucial to be open to new ideas, seek feedback, and be willing to make changes that can lead to growth and success.