Talking Property Management
Welcome to Talking Property Management; the podcast that pulls back the curtain on the real world of managing investment properties in Brisbane.
I’m Samantha Eason; Principal and Licensee of Exclusively Managed, Property Management agency located in Brisbane. Each episode, I share the untold stories, hard lessons, and everyday realities that come with property management, from difficult tenants and dodgy maintenance to untrained managers and costly mistakes that could’ve been avoided.
This isn’t a sugar coated industry podcast. It’s honest, practical, and straight to the point, with a few laughs along the way. Whether you’re a property investor, landlord, or simply curious about what really goes on behind the scenes, Talking Property Management gives you the insight you didn’t know you needed.
I’ll be sharing real life experiences, expert advice, and proven strategies to help you avoid pitfalls, protect your assets, and get the most out of your investment.
And who knows… I might just be talking about your property manager in the next episode.
Talking Property Management
Apples to Apple Peels: The Costly Comedy of Quote Shopping
Have you ever forwarded a quote from one tradesperson to another with the innocent question, "Can you beat this price?" You're not alone – it's one of the most common practices among property owners looking to save money on renovations and maintenance. But what seems like a smart cost-cutting strategy could actually be costing you thousands in the long run.
This eye-opening episode dives deep into the hidden dangers of quote matching without proper property inspection. As your host Samantha Eason explains, quotes aren't just about the final number – they represent a comprehensive assessment based on materials, labour, site conditions, and professional judgment. When you ask a trade to beat someone else's quote without seeing your property, you're essentially comparing "apples to apple peels" – and the results can be disastrous.
For property investors, this episode serves as a powerful reminder that you're running a business where success depends on quality partnerships and knowing where not to cut corners. Whether you're renovating to increase equity, attract better tenants, or address maintenance issues, the process matters as much as the outcome.
Listen now to transform how you approach property improvements and build the relationships that will serve your investment goals for years to come. Your property – and your future self – will thank you.
If you have any questions or scenarios you would like us to discuss on an upcoming episode, please email samantha.eason@exclusivelymanaged.com.au or visit https://www.exclusivelymanaged.com.au/
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Hello and welcome back to another episode on Talking Property Management, where we talk property without the fluff, from a real world boots on the ground perspective. I'm your host, samantha Eason, and today's episode is for every property owner, investor or even homeowner who's ever said can you beat this quote? I love doing renovations, I love adding value to property, enhancing the property or even spending some of our clients money so they can make more money. I absolutely love it. It is the best part of the job and it's nice being able to get out of the office and turn an ugly duckling into a beautiful swan. But that statement kills me every time. Can you beat this quote? It sounds innocent, right, but forwarding one trade's quote to another, especially without that trade ever stepping foot on the property, can actually cost you more in the long run, not just in money, but in trust, quality and even reputation. So today I'm going to unpack why quote matching without an inspection is a practice you should definitely stay away from, and how to protect your property and relationships the right way instead. So why do people do it? Let's start with the intention.
Speaker 1:Most people who send quotes to other trades aren't trying to be dodgy. It usually comes from a good place. They're trying to save money. Maybe you've seen a quote or you've been given a quote and you think it's too high. You've heard that another trade might do it cheaper, or you suspect that it could be done cheaper. So you send the first quote over and just say can you do this for less? Can you beat this? What can you do for me? Doesn't matter what you say.
Speaker 1:Here's the problem. Every quote is based on that particular trades assessment. It's based on their method, their materials and their pricing, based on what they actually saw. When you give that to someone else, you're asking them to respond with incomplete information. It's like giving a chef a picture of someone else's meal and asking can you cook this exact thing for me for half the price, without seeing the ingredients or even the kitchen. It makes no sense and it's likely that that special ingredient is going to be missing. Obviously. It goes without saying. No two quotes are the same, and this is where so many people go wrong.
Speaker 1:Quotes are not just about the final number. They are a breakdown of materials, whether it's brands, grades or availability, labour hours, staffing, most importantly, experience, site conditions, any prep work, access, hidden damage and inclusions and exclusions, cleanup, warranty, removal of waste, etc. Two trades might both say install this, but one might be quoting on a basic range and the other might be quoting on high-end commercial grade with warranty-backed adhesive, really good subfloor prep, as an example, matching trims. So when you ask a second trade to match the first quote, may not realize what's being removed to reach that lower price. Often you're not comparing apples to apples, you're comparing apples to apple peels.
Speaker 1:What exactly are the dangers of quoting blind? I'll tell you a quick story. A client once shared a flooring quote with another trade of ours, asking if they could beat it by $500. That second trade had never been to the property, hadn't seen the existing floor, the conditions, they hadn't even assessed the access. They agreed to beat the price. But when the job started, guess what? The floor had water damage, there was leveling issues, they didn't allow for a few items and halfway through they wanted to charge $1,200 more in oh, the beautiful word of renovations, variations. So what started as a $500 saving ended up being a $700 more than the original quote. Not to mention the job took longer. The tenants were incredibly unhappy and the original trade who we trusted was understandably offended and not keen to help us in the future Some people don't care about this, but I do the impact on the relationships, especially trade relationships, and why this is important.
Speaker 1:This brings me to the next big issue your reputation with good trades. When a reliable trade takes the time out of their day to inspect your property measures, asks questions and sends a detailed quote, they're investing time in you Time they don't get paid for. So when that quote is just forwarded to someone else, it can feel like their effort was used as a tool, not as a valued, as a professional opinion. Trust me when I say this good trades talk and if they feel like they're being used to price shop, they'll stop quoting for you altogether and guess who's left working with the trades no one else wants to use. So what do you do instead? And this is the right process. This is what we recommend to all of our clients at Exclusively Managed when they are working with us on an enhancement project.
Speaker 1:Always get independent quotes. Don't send other quotes to competing trades. Let them view the job and quote on their assessment. Compare a scope line by line, ask for a detailed breakdown and make sure you're comparing the same inclusions. This is where a good property manager or an experienced investor will add value. Ask the right questions. If it's to do with painting, you need to know how many coats are applying, if there's any prep to the walls being added, if there's any exclusions, what type of paint they use and how long they expect to do the job. If you have a painter that is doing a whole house and they tell you that it's going to be done in three days, there's a very, very big chance that that painter is not going to be doing a very good job.
Speaker 1:Look at the value, not just the price. A more expensive quote may save you money long term by avoiding poor workmanship, future maintenance or even tenant complaints. Respect the process. If you build strong relationships with trades, they'll often go above and beyond for you, but they need to know they're not being used to price beat someone else. I want to leave you with this today.
Speaker 1:If you invest in property, you are running a business and, like any good business, success depends on quality, partnerships, integrity and knowing where to save and where not to cut corners. Chasing the lowest price from a trade who hasn't seen the job is like buying the cheapest insurance policy and hoping for the best when disaster strikes. Cheap can be expensive for the best. When disaster strikes, cheap can be expensive. Value comes from getting the job done right by the right people. The first time. I do see this unfortunately all the time, and it's one of those things that we unfortunately just have to deal with. It comes down to trust, but it also comes down to people's budgets.
Speaker 1:It's incredibly important to remember when you are renovating your investment property. You are doing this to add value to your property, not take value away from it. Unfortunately, some things have gone up a fair bit in price, but that is the industry everywhere at the moment, so it's expected. What you are doing when you're renovating your investment property is you're either doing it to pull out equity of that property. You're either doing it to ensure that you get a good quality tenant and someone who's going to take care of the house, or you're doing it to repair issues that have been left for a significant amount of time, whether it's from a previous owner or a previous agency, or just a property that needs that TLC it hasn't had before.
Speaker 1:But the end result is always going to be what you need to do to sell the property when you no longer need it as an investment property. There's no reason to cut corners, no matter how the market is going, because you will always end up with less at the end of the day than if you did it properly the first time. And a quality tenant is worth their weight in gold. So if you can ensure that a house fits for that reason, then you've done your job properly. Thank you for tuning in to today's episode. If you found this helpful, please share it with an investor friend. Let's lift the standard of property management and protect the value of your biggest asset. I'm Samantha Eason. Until next time.
