the future, page-3

Dear Sequoia

Your sentiments are right. I manage my own properties however my brother had a property with Run. The high staff turnover was due to the fact they located there offices in the wrong place which they have now addressed. The basic principle is that all you need to know about your property undermanagement is available to you on there website which I believe you log into. The problem with this, although it is changing, most mum and dad investors are hands on and still like to speak to an individual or call into the office and have a chat. As investors are becoming younger and more computer literate this need is reducing and they just want professional management.

As for the stop gap measure of staff, I believe the industry is addressing this issue by offering bonus packages etc however it is an ongoing issue. The problem is the Real Estate Industry is not seen as a proffesion and due to the cowboys in it our reputation is not good. Govt' keep changing the licensing requirements to the point where you will be able to get in a cornflake pack soon and this is not good. They should tighten up the licensing requirements which will force the industry to amalgamate and then we will be really able to quality applicants into the industry like it was in the 80's and 90's not just young guns wanting to try the industry because they see a nice car and then wake up to the fact that you have to work hard to get it and leave.

This share story has a long way to go yet, it will be interesting to see what happens next week.