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Understanding Landlord Trust Accounts

Feb 24, 2021

In a modern workplace it is not uncommon to see an organisation to discuss their diversity of individuals in the team. Diversity gives an organisation a wonderful opportunity to get a realistic cross section of their wider community to better understand and relate to their customers. Regardless of if you have a diverse team or not, can build your team members diversity of skill sets?

By doing so, you can give the team a competitive edge and increase the productivity levels of the whole organisation. This doesn’t mean each individual will need to be able to adequately complete each task in every role within the agency. Are they able to understand the basic core functions of each role? Do they know which tools (i.e. software, reports) are used for which job? They mightn’t need to know exactly the complexity of each role, but if you can increase their skill set so they understand the basic functions you can see results include; faster service time, higher job satisfaction, lower turnover, and then more creativity.

In Real Estate agencies, most people will talk about the relationship between the Property Management business, and the sales team, which is very important to have working well together. A commonly missed opportunity is to increase the whole teams knowledge of the Trust account. Each team member doesn’t need to be able to run the trust account, but having them able to quickly and competently answer common questions from clients will increase your chance to reap the benefits noted here, and ideally retain the best workforce in your marketplace.


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