Presentation on theme: "1 W illiam E. Wood and Associates, Inc. Founded in 1972 14 Resale Offices, New Homes & Property Management 2010 Ranking: #1 in the Region #13 in Ave Sales."— Presentation transcript:
1 W illiam E. Wood and Associates, Inc. Founded in 1972 14 Resale Offices, New Homes & Property Management 2010 Ranking: #1 in the Region #13 in Ave Sales Volume per Agent #56 in Sales Volume
2 Property Management Started in 1983. Set up as a separate department and profit center. Growth:Single units Mergers – 3/148 Acquisitions – 3/401 2010 GCI:$2.6 million Current:2055 units 10 locations and 8 Administrative Staff 17 Full Time & 6 Part Time Property Managers
3 Property Managers took over an existing portfolio for a specific flat wage Bonuses earned from new managements Original Compensation: Salary Plus
4 Since 1999 – Its Their Own Portfolio Creates value to Property Managers Compensated on all income brought into the dept. … on a commission split basis Paid a portion of: Management Fees, Set Up Fees, Late Fees, NSF Fees, and Re-rental Fees Finders Fee for Tenants Referral Fees on Listings and Sales
5 Original feeling of being a stepchild department NOW, Property Managers have customized criteria to participate in company- wide contests. have criteria to earn the company incentive trip. are eligible for internal recognition as members of the Winners Circle and Presidents Club. have a separate section for recognition at the Annual Awards Breakfast.
6 The End Result Increased feeling of ownership and personal accountability for management accounts Closer attention is paid to monies due the company Property Manager turnover at an all-time low Property Managers earnings increased