Growth After Profitability with Matt Leschber
Today, I’m talking with Matt Leschber. Matt is the broker, owner and founder of 1836 Realty. 1836 Realty was founded in 2005 and operates within the Central Texas area, specializing in full service property management as well as make-ready services and in-house sales.
Topics covered:
- :02) – Intro
- (:12)- How long have you been in Austin, TX?
- (:47)- What does the business look like today?
- (1:10)- Supporting property management
- (1:17)- Number of units
- (2:16)- Asking why people sale
- (3:00) – Staff/ Company structure
- (3:30) – Hybrid Teams
- (5:00) – As a client, how many people am I interacting with and under what circumstances?
- (5:22) – Maintenance
- (6:05) – Differentiation- What is the buying criteria that consumers are applying for?
- (6:35) – Lead the consumer
- (7:38)- Setting expectations
- (8:30) – PM vs BDM
- (8:47) – No payment until property is leased
- (10:30)- Closing deals
- (11:00) – At your size what are revenue numbers?
- (12:00) – Missed opportunities
- 15:40) – What are the core areas of knowledge that provide biggest yield?
- (15:50) – Numbers
- (17:00)- BDM goals/ modeling
- (18:00) – Data gaps
- (18:23)- Benchmarking & knowing what others are doing in the business
- (20:00) – Goals: Where do you want to take the business?
- (20:38)- Developing internally
- (21:36)- Implementing books
- (22:00)- Expansions
- (24:30) – How long did it take for you to be profitable?
- (25:10)- Listen to information being shared
- (26:00)- Change according to the business
- (28:00)- The nuance of closure vs. non-disclosure
- (29:30)- Full disclosure
- (31:00) – How do you talk about business without talking about revenue?
- (32:00) – How pricing changed?
- (32:35) – Learning how to learn
- (33:45) – Percentage to Flat fee model over time
- (35:50) – Flat Fee doesn’t mean cheap
- (37:00) – Maintenance Fees – Succeed or Stumble
- (38:15) – Do’s and Don’ts
- (39:15) – Be a strong swimmer in a weak pond
- (41:00) – What percent comes from servicing the property management portfolio?
- (42:00) – Labor Churn – How to Deal
- (43:20) – A personable approach of trial and error
- (45:00) – A Comparison of Wal-Mart to Disney level service
- (46:15) – People expect Disney but at Wal-Mart cost
- (47:50) – Authors with Purposeful Ideas
- (48:35) – Habits of Personal Development
- (48:50) – Assistance from Colleagues
- (50:00) – Deliver the exceptional
- (51:07) – Deciphering Fact from Fiction
- (52:00) – A time and place for deep delves
- (53:30) – People Want to Help
- (54:00) – Matt’s Monkey Story
- (56:30) – Communication is Key
- (57:30) – Trust and Empower – Breaking Eggs
- (58:20) – The Importance of candor
- (1:00:33) – It is okay to disagree
- (1:02:40) – Are Entrepreneurs Born or Bred?
- (1:04:00) – Did you have any Role Models?
- (1:05:15) – Closing
Rapid-fire Questions:
- (1:02:40) – Are Entrepreneurs Born or Bred?
- (1:04:00) – Did you have any Role Models?
Resources mentioned:
“Never Lose Another Customer” by Joey Coleman