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Case Studies

Modo Property Shares How They Save Time And Why They Recommend Re-Leased

Re-Leased 21 August 2018

Director of Modo Property Allison Collis shares her thoughts on offering a world-class service, utilising technology to save time and how Re-Leased ticks all of the boxes.

Read the Modo Property case study below.

What separates your business from its competitors? Provide some further insight into your business, its values, and mission.

It’s not that we are necessarily different but our goal as a company is to give the best possible client experience. Nothing would bring us more pleasure than to help change society’s perception of our industry. The other thing about Modo is that we are really into information, and don’t hold back on making it easily available for lookers online. And we are very transparent with our landlords and vendors; 100% genuine feedback is mandatory so they can feel confident when the time comes to make a decision on an offer.

Our fees are fair against both our residential or commercial competitors and we maintain the same professional quality in our campaigns – only difference is that we foot the bill. It’s a risk-free alternative to the traditional real estate model. More than two-thirds of our business are clients that have been on the market for a long time with other agencies who haven’t done the job right. To be honest, we are not doing anything special or revolutionary. The key to our success is treating our clients with respect, giving fast follow-up, honest advice, and ease of access to information.

As industry experts, how do you think the real estate industry has changed over the past decade?

The biggest thing is that real estate has transformed into a full service industry. Gone are the days where you had window cards at the front of your office showing your stock, nobody shops like that anymore. A successful company will be obsessed with analysing market data and monitoring competing properties, then effectively explaining its relevance not just to potential leads, but to sellers and landlords, too. It’s about trying to standing out from everybody else and increase market perceived value. Service, service, service. And never putting pressure on a client into taking an offer – ever.

Why do you think commercial property management companies (and landlords managing their own portfolio) should be utilising technology?

A big one for me is that we needed to minimise risk of human error. And anything we can do to make us more efficient is also a plus! It makes communication easier with landlords and tenants as we run everything through the cloud. We trade within Queensland and Melbourne so being able to access our data at any time was non-negotiable. The hardest thing we encountered was trying to source cloud-based property management software as there was nothing decent in the commercial space. We were recommended Re-Leased by one of tenants who is an accountant, it was just one of those fluke conversations that happened to be exactly what we were looking for. The flexibility of the software is huge for us.

What property management methods were you using prior to Re-Leased?

I’d rather not mention who, but it was a cheaper New Zealand-based company initially, which was not ideal for us but being cloud-based, but it seemed the best option at the time. It’s not that it was a bad company to deal with – credit to their customer success team who were fantastic – it’s just their product didn’t perform as expected. There were a lot of product issues. The biggest issue with that product was their commercial invoicing, which is obviously very important. And at the end of the day they couldn't service us.

What were the main pain points that made you and your team search for an innovative solution?

Biggest pain point that all of our numbers in our ledgers were incorrect at the end of financial year. That was big thing for us and stemmed from the issues with invoicing functionality. We had begun shopping around in mid-June and after the EOFY we went with Re-Leased. It was a fluke conversation I had with an accountant who works for another real estate company, she said ‘‘You will get your life back”.

Discuss how Re-Leased has helped to add value to your business. Have you saved time? Saved money? In other words, have we solved your problem?

I love that it is so easy for me that I can make changes so easily. That has been huge for us and has made a big difference. You have given us value because we have gotten back so much time. I am doing tasks in a quarter of the time and it’s just really, really simple and straightforward. I like that Re-Leased’s trust accounting runs like Xero. It has completely stream-lined our operations and minimised room for error. One of our landlords called me and said “These statements are so much easier to understand”. Re-Leased has been a tremendous help for me.

Talk about the quality of training you received with the Re-Leased implementation team. It can be a very stressful time – how did our team help you?

They were so patient. Even though July had ticked over, I was still going through the process of trying to untangle a mess of ledgers and Re-Leased was super, super patient. It was so hard for me to keep up with that and Carolyn was very understanding. I liked how if I was having an issue, she would send me a quick video that showed me how to perform key tasks. And even the support system was great.

What would you say about Re-Leased to other property management companies shopping around for a platform to manage their portfolio?

My husband and I have a lot of agent friends plus other professional ties through our auction services, and we are not shy about recommending Re-Leased. I’m not afraid of sharing good-will with our competition. In terms of shopping around for a software, don’t waste your time. There are lots of options for a residential only portfolio but if you want something that does a nice blend of commercial and residential, Re-Leased ticks both of those boxes and it can do everything from simple tasks, as well as your more complex tasks, too.

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