What is the process for Relationship Building Allowance & Field Trips

Purpose

Field Trip Requirements & Structure

• Each Property Acquisitions Analyst (PAA) must complete four field trips per year (one per quarter).

• Field trips are ideally three days long and should ideally be scheduled from Tuesday to Thursday.

• Analysts may fly or drive to their buying areas.

• Travel should be planned to fly out Monday night and return Thursday night.

• Start Date: November 1st, 2024.

Field Trip Objectives

• Build and strengthen relationships with agents and industry professionals.

• Gain on-the-ground market knowledge.

• Enhance due diligence capabilities by visiting key locations.

• Capture valuable insights to support client interactions.

• Generate social media, objection handling and marketing content.

Compliance & Licensing

• If you hold a real estate license in the state you are visiting, you can conduct all professional activities.

• If you are visiting a state where you are not licensed:
• You cannot enter properties in a professional capacity.
• You can visit agencies, attend meetings, and explore market conditions.

• Always ensure compliance with local real estate regulations and company policies.

Expectations & Best Practices

Agent Meetings

• Inform agents of your planned trip via email with the field trip template and InvestorKit Presentation,

• Aim for at least two meetings per day (e.g., breakfast, lunch, office visits, dinner).

• Prioritise relationship-building over sourcing or purchases.

• Log key information about agents (interests, business details, family, etc.).

• Complete the PAA Field Trip Checklist (link below) for each meeting at the end of each business day.

Content Creation

• Record short, professional videos showcasing market insights, due diligence findings, and case studies.

• Example video formats:
• Market growth stories (e.g., "We bought this for X, now it's worth Y").
• Off-market deal highlights.
• Due diligence case studies (e.g., proximity to train tracks, flood zones).

• Ensure content is concise (15-25 seconds) and aligned with company branding.

• Do not disclose sensitive location or agent details in public content.

• Submit all content to marketing for review before publishing.

• Reference the InvestorKit Presentation and Script templates (link below) for guidance.

Professional Conduct

• Maintain professionalism at all times, especially during work hours and while wearing company-branded attire.

• Alcohol consumption during business meals should be kept minimal and responsible.

• Avoid discussing confidential agent relationships publicly or on recorded content.

Relationship Allowance Usage

• Monthly Allowance: $666 per month, paid via salary cycle.

• Quarterly Allowance: $2,000 (non-taxable) available for relationship-building and field trips.

• Allowance starts after: 6 months of employment, probation completion, and approval from the Head of Acquisitions.

• Approved expenses include:
• Travel and accommodation.
• Meals and entertainment with agents.
• Business-related activities (e.g., tickets for relevant networking events).
• Local experiences that enhance knowledge of the market (e.g., visiting key amenities, infrastructure projects).

• Log expenses daily in the PAA - RELATIONSHIP BUILDING EXPENSES spreadsheet.

• Maintain records for tax purposes.

• If a reimbursement model is introduced, expenses must be recorded using the XeroMe App:
• Android
• iPhone
• Follow the XeroMe Expense Submission Guide outlined below.

Reporting & Follow-Up

• Agent Data Recording
• Capture agent details and meeting notes in Attio or designated spreadsheet.
• Maintain a list of key contacts for future engagements and gifting opportunities.

• Social Media & Content Review
• Submit all video content to marketing@investorkit.com.au with Stephen CC’d for review and editing, before publishing.
• Content should be informative, client-friendly, and maintain confidentiality.
• Save any content in the Google Drive folder here under your name at Property Acquisition Analyst

• Expense Tracking
• Log all expenses daily to ensure accurate reporting and compliance.
• If reimbursement applies, submit claims through XeroMe.

• Post-Trip Review
• Complete the PAA Field Trip Checklist (link below).
• Submit the following to Stephen Bambury upon trip completion:
• Social media content.
• PAA - RELATIONSHIP BUILDING EXPENSES or XeroMe expenses report (if applicable).
• Completed PAA Field Trip Checklist.

Additional Considerations

• If visiting high-profile or sensitive locations, behave in a professional manner and avoid drawing unnecessary attention.

• Use digital content as an objection-handling tool for client education.

• If safety concerns arise during field visits, prioritise personal security and report any incidents to Stephen immediately.

Continuous Improvement & Feedback

• The field trip process and expectations will be refined based on team feedback and results.

• Any updates or changes will be communicated by management in advance.

Resources