Residential
Explore
Jerome Srot is the Director of Property Management at Ray White TRG.
How does your usual day look?
Being a one-person show at this stage, my days are pretty wild.
From property manager to leasing executive to trust accounting to business development/growth to marketing, there is no ‘off’ switch.
Since starting in December last year, we are approaching 90 properties under management.
My day starts at 5:30am in the gym.
My laptop follows me everywhere - home at night, in and out of the office, in and out of the car. I like to get a good two hours of office time in the mornings, from 8am to 10am and again at 5pm to 7pm. Most days, I’m in and out of the office at appointments, appraisals, inspections, in-going reports, etc. Being super responsive and always available is one of the driving forces in my day-to-day.
What do you enjoy most about being with Ray White Property Management? What makes PM different?
The support always on offer from head office is definitely a big piece for me.
The thing I enjoy most is that I am now building a business in which I am a major stakeholder.
Having spent the previous nine years working alongside Gavin Rubinstein building a successful sales business and team, I was excited at the opportunity to implement the same work ethic, client service delivery and results that we had done so well within the sales space, and bring that same energy into the PM business.
What makes property management different from sales, I feel, is the life cycle of the transactions.
With sales, the journey from listing to settlement usually lasts two to four months but with property management, the transaction never ends.
What are your go-to property marketing methods that you present to your clients?
Coming from the sales side of the business, I’ve always had an appreciation for the way in which a property should be marketed to achieve the best possible outcome. For me, the photos have to be A-grade. I use the same photographers who shoot our sales listings.
I also attend the shoots to make sure we capture the best angles, etc.
I also insist on a floor plan to be included online.
I personally prepare most of the copywriting - I’m quite particular about the description and features of each property.
In some cases, for high-end properties, we’ll shoot a property video with aerial/drone footage.
Tell me about a unique success story?
Just last week I negotiated a two year lease for a Watsons Bay beachfront house for $5000 per week. It was on the market for three months with an ask of $5500 per week. The house itself is quite unique in that it has limited accommodation with only three bedrooms, two of which are rather small and also interleading. This made it unsuitable for most people shopping at that price point. Near the start of the campaign, I had a tenancy approved in-principle but they pulled out last minute. Sadly, the same thing happened again a month later.
I was starting to think that the owner was losing faith in my ability to get the job done. After much persistence and constant communication with the owner, I put the deal together with a lovely young family. It has been my biggest property management deal to-date.
What’s the one thing you know now, that you wish you knew when you first started out?
My way around Property Me!
What is your outlook for your core markets over the next 12 months?
There is currently a lack of quality rentals in my core area with strong demand, particularly in the $1500 to $2500 per week range. I get a lot of enquiries from people who have recently sold their home and now want to sit on the sidelines (and rent) before buying back in as they feel the market is going to spiral as a result of the Covid recession. I think the rental market will continue to flourish with high levels of demand.
