Unfiltered by PropertyManagement.com
00:21:23 · Dylan Scroggins, Thomas Perfect
[00:21:23] S1: That's interesting because you hear about the dip in leads, let's say, the last six months to a year. [00:21:29] S0: Yeah. Definitely. Definitely. Huge [00:21:30] S1: dip. Rhetorical question here, and maybe you can answer this. You're a lot smarter than me. How much is that dip in groups not knowing their market and not marketing towards that new emerging owner and kind of thinking it's all... It's gonna always be the way it's always been. Right? Because I've seen that PM trends report. Once again, shout out Peter for the printouts. That was amazing. But are are we talking to the next generation is what I'm trying to say.
00:21:57 · Thomas Perfect
[00:21:57] S0: Yeah. Well, and and I feel like the PMs that are missing it, you know, when... Whenever I... You know, without naming any names that don't have anybody pictured in my head right now, when I go to these conferences and I hear somebody says, oh, yeah. I manage 800 units, and all of my business comes word-of-mouth. I don't do any marketing. Your business is gonna die. Right? Like, at some point, your relationships are gonna break down. That churn at that level is going to happen. And you're gonna end up having clients that maybe don't know you anymore and that it wasn't that personal connection. And they're gonna ask chat GPT or Claude or whoever M and I who the best property management company is in Omaha, Nebraska. And if you're not on those top three, according to AI, then your business isn't gonna get found. Right? And you're just gonna slowly churn out and you're gonna be thinking about it in three years when you realize that you had your 10% churn, which you thought was great. All of a sudden you've lost, you know, 60 units a year from that 800. And you're thinking, holy smokes, I gotta lay staff off because the revenue is not here anymore. Rents haven't gone up the way that they have been. And you're gonna be wishing that you started building content, answering your clients' questions three years ago. So the best thing to do is start answering those questions today.
00:23:14 · Dylan Scroggins
[00:23:14] S1: This session, I don't even know who led the session. I should know this, and I give them a shout out. But the session that I heard the most people talking about was the one about, like, AI search, and they had everybody in the crowd searching for the best property management in Blank City. And it was really interesting to hear people accept the fact that, hey, I am not number one. And who knows if number one was even in the room for that area, and obviously that's a big part of propertymanagement.com's value add. But I don't know if you're in that session or not, but it seemed to be a really popular one of people really digging deep and looking in the mirror and asking Claude or ChatGPT if they are highest ranked in their area.
00:23:53 · Thomas Perfect
[00:23:53] S0: Well, I I love the follow-up question to that is, you know, why am I not number one, or why didn't you put Uplift in your in your search? Right? And then digging into those layers that it will straight up just tell you what you need to do. Right? It'll tell you. And, I really loved, Brooke Ronner, one of my favorite kick... Takeaways was our keynote speakers. I felt like all all of them knocked it out of the park. I felt like nobody had anything bad to say about the keynotes, and everybody walked away. So, like, Marcus shared in with his AI trust signals report. You know? He he got me. I paid $10 to get my, professional report in and started to look at, okay. Well, what is... What are his agents scanning my website saying about me? Right? And, definitely got some takeaways to to work on. And it's just a really interesting thought process to know what can I do today to make sure that my business is still healthy in three to five years? Right? And it's the people who are like, I should get on that AI train. I should get on that SEO train. I should start my blogs. I should do these things. Well, you just gotta start putting one one foot in front of the other, and you just gotta start doing it. It's
00:25:04 · Dylan Scroggins
[00:25:04] S1: Yeah. And and also to... From your perspective, I know I just asked about what gets you excited about this next year. What what concerns you about property management right now? Right? We got broker owner a year from now. What are some things a year from now that you think people will be talking about wherever a broker owner chooses to be? But what are some things that might be concerning this next year they can be prepared for now?
00:25:27 · Thomas Perfect
[00:25:27] S0: I mean, concerns for the industry, I mean, think that we will see an increase of, you know, cut rate companies that are trying to do things just using AI entirely. You know, for example, like I have a separate business prop defend. We do cybersecurity for property managers. Right? And, I I saw an advertisement recently for essentially an AI company who is saying, we just have an AI agent who's gonna take care of this for you. And I'm like, shoot. Is that is that the future of we're gonna we're gonna trust AI to do our cybersecurity for us also? And then how much control are we giving up? So I think that that biggest threat for us is putting guardrails in our businesses so that we don't just lose control to AI, but also positioning ourselves with our clients to answer it. Again, PM trends report was like, hey, an overwhelming majority. I forget the percentage, but I wanna say it was like 90 something percent expect to be able to reach their property manager anytime of the day or night, most of the time. Right? Like, that's crazy to me. I'm like, I do not wanna be answering my phone at 08:00 at night or at, you know, 4AM when my client that lives in Germany calls. Right? Like, I I don't wanna be doing that. And, but we're seeing that that's the expectation that's coming out. So it's how do I how do I harness it, and how do I put guardrails on it?