News February 14, 2022

New national research shows 60% of real estate agents struggling with abuse and aggression on the job

It’s time to show more  ""  to property managers

Sydney, Australia – VALENTINES DAY, 14 February 2022. A new national research report released today by MRI Software reveals 60 percent of property managers in Australia rate dealing with aggressive and abusive landlords and tenants as the biggest challenge of their job. A disturbing 53 percent struggle with mental health, and almost 1 in 4 (23 percent) intend to leave the industry – twice the number recorded in 2018 when the first Voice of the Property Manager research was conducted well before COVID struck.

The MRI Voice of the Property Manager 2021 national research report is released on Valentine’s Day to underscore the need to show more love to struggling property managers.The pressure of lockdowns and uncertainty over the last 12-18 months meant property managers often bore the brunt of upset and angry tenants and landlords, and the impact will soon be felt in lost revenue if agency leaders don’t pay attention to the warning indicators in the research.

In the report, MRI estimates the cost to replace a single property manager is the equivalent of one year of property management fees from 19 properties and between five to 12 percent of a typical agency rent roll.

MRI Software Real Estate Industry Principal, Josh Symons, believes burnt out property managers are likely attracted to more flexible and hybrid working arrangements being offered by tech and finance companies in Australia right now, and implores the real estate industry to fight back against these new ‘Great (Real Estate) Resignation’ indicators.

“Losing good people from real estate is not a trend any of us should be willing to accept. Property managers are critical to keeping trillions of dollars’ worth of Australian property running and growing in value. We must show them some love, listen to what they’re saying, and ensure their experience and passion are not lost to the profession,” says Symons.

The Voice of the Property Manager 2021 national research report is now available from http://www.mrisoftware.com/au/resources/voice-of-property-manager-report/. It reflects a statistically significant 773 respondents from across the property management industry in Australia to identify benchmarks around key employment issues, satisfaction levels and priorities. The research was conducted by MRI Software and analysed in late 2021 by Kylie Davis from Real Estate Think. The first 2018 research report is available to download.

About MRI Software

MRI Software is a leading provider of real estate software solutions that transform the way communities live, work and play. MRI’s comprehensive, flexible, open and connected platform empowers owners, operators and occupiers in commercial and residential property organizations to innovate in rapidly changing markets. MRI has been a trailblazer in the PropTech industry for over five decades, serving more than two million users worldwide. Through leading solutions and a rich partner ecosystem, MRI gives real estate companies the freedom to elevate their business and gain a competitive edge. MRI became one of the first real estate software providers to serve Australia and New Zealand in 1995 and further strengthened its commitment to the region with the acquisitions of Rockend, WhosOnLocation, Palace and Box+Dice. For more information, visit mrisoftware.com/nz

 

Media Contact

For more information, to arrange an interview or high-res infographics please contact:

Heather Jones | PR Director for MRI Software (Australia & NZ)

heather@hjconsulting.com.au  | 0400 394 669

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