A counterintuitive truth about property management growth is emerging: generating more leads isn’t always the answer. According to industry expert Jason Hull, CEO of DoorGrow, many property management companies are undermining their growth by chasing new leads while ignoring fundamental issues in their existing processes.
“What we’ve found is they don’t actually need more leads. They need less leaks. They usually have a lot of leaks in their process,” Hull says, challenging conventional wisdom about business growth. “A lot of leaks of trust, a lot of leaks in their pipeline.”
Through his work coaching hundreds of property management companies, Hull has identified a pattern: “If we can shore up all these trust leaks, usually we can double the amount of deals they’re doing or getting on without changing any of their lead flow.”
According to Hull, these “leaks” often manifest in surprisingly basic ways: “Some of them aren’t even answering their phones, some of them have bad pricing, some of them have bad branding.”
Hull also challenges what he calls the “process myth,” the belief that better processes alone can fix underperforming teams. “There’s no amount of processes that will make mediocre team members perform great. It’s just an impossible game,” he says.
Instead, Hull has observed something unexpected: “I’ve seen companies with absolutely terrible processes, not good process documentation, but they have amazing people, and they figure out a way because people are good, people are intelligent, people are good culture fit, people care.”
Hull notes that these issues often come to a head when companies reach certain scale: “This is usually for property management companies in the two to 400 door range, is where things fall apart, because this is where they’ve gone from being a solopreneur to having a team.”
Through DoorGrow’s coaching program, Hull helps property managers address these fundamental issues before pursuing aggressive growth. “We’ve developed a philosophy around team, around systems, that allows our clients to be able to scale, that gets them out of that leads myth and out of that process myth,” he explains.
Rather than chasing more leads or implementing rigid processes, Hull advocates for focusing on building trust, improving responsiveness, and assembling the right team, approaches he says have helped hundreds of property management companies achieve sustainable growth.
Explore similar articles from Our Team of Experts.
The commercial real estate investment climate in the DC metro area is marked by low vacancy rates and targeted opportunities, according to Jesse Elliott, Managing Partner of The Ellitan Grou...
