A Podcast | Matt Speer

Pete Neubig: Welcome, everybody to the NARPM radio podcast. I'm your host, Pete Neubig. And as I say, every week we have another incredible show here today. So today we have Matt Speer. He's the founder of PropertyManagement.com. We're going to ask him a little bit about how he actually got that URL. So that's a great URL to have where he's on a mission to bring trust, transparency and data driven credibility to the property management industry. He's a lifelong investor and operator. Matt built and scaled a PM firm Indianapolis before launching PropertyManagement.com as a category defining platform where he's building ranking algorithms or mapping the National property manager graph. He's obsessed with one thing: helping great operators stand out and win. Matt, thanks so much for being here today, buddy.

Matt Speer: Thanks for having me. That's a great intro. I like that.

Pete Neubig: Well, you wrote it, so it should be a great intro.

Matt Speer: Yeah, a little ChatGPT assist, I'm sure, in there in some way, but yeah, that definitely helps in this new AI world we're in.

Pete Neubig: All right, so I gotta ask real quick before we get the cliff notes of your story.  Do you also own PM.com?

Matt Speer: Don't own PM.com. That would probably be a pretty expensive domain, just with the, like, couple letters. But our team does internally. You know, property management's a mouthful. Every property manager has that problem where it's just like how many times you're typing and writing property management so we do internally call it PM.com sometimes.

Pete Neubig: Yeah. I like that. So alright, so tell us, give us the cliff notes of your story and then we'll talk about property management.com and how that came into effect. But just talk a little bit about your background.

Matt Speer: Yeah. So I, my first job out of school, I was working at a venture backed tech company.  so, you know, I was in a sales role,  very well funded. Like, when I think of that experience, I think of the little, like,  the hoop set up in the sales room. I spent most of my time, you know, in between sales calls with the little nerf hoop. But definitely was very much into that, like, tech scene right out of school. But I studied finance and entrepreneurship, and I wanted to be an entrepreneur. I didn't have any money or any backing, but I was fortunate to be Indianapolis, where it was a very hot real estate market. And so I got into real estate investing, learned everything I knew at that point through BiggerPockets, which I, you know, a lot of property managers, I think have engaged in BiggerPockets or maybe even get some of their leads from there. And so really, what happened, I started investing, doing, like, the BRRR process, like buy, rehab, rent, refinance. Investors were putting money in and I was on the side bouncing this tech job, but was doing, you know, rehabs and full stop the investing experience there and then sort of just accidentally became a property manager. We had about 20 or 30 of those. And I'm like, well, I am pitching that. We keep these and hold them and drive equity, and somebody's got to manage them. And and that was me to start.

Pete Neubig: Interesting. All right. So, you exited the property management firm or do you still have it?

Matt Speer: So we got up to... So I quit the tech job and kind of my next step was going all in on real estate investing. And through that experience, getting going from like, 30 to 100 doors. I'll be honest, when I was at 30 doors, I accidentally became a property manager. Like I did not like property management. Didn't see myself doing it long term. You guys all know today, you know, we own propertymanagement.com so something changed there. But really, what changes I saw the recurring revenue. I saw the opportunity where, you know, technology systems, like, there's just a lot of opportunity and upside in the industry. And so at about 100 doors, I brought on a business partner, Kenny. Kenny Hall, he runs the day to day, today. Today. So I'm more like passive strategic in the property management business.  But, I mean, we've been building that business since I think 2017 so, definitely kind of living and breathing the day to day property management kind of mindset.

Pete Neubig: Got the best of both worlds, man. You still own a PM firm, but you're not doing a day to day stuff.

Matt Speer: Yeah. Yeah, I think that. Yeah, it's just about like role. A lot of people I think are into like EOS and just knowing kind of like where you drive value and trying to get yourself into that spot or maybe the book, like the one thing it's like, how do you find the thing that you're good at and really,  really push it? And so for me, yeah, I like the strategy kind of high level part of this, but, yeah, I saw an opportunity with propertymanagement.com to really solve a lot of my own problems as a property manager. And so, yeah, that's definitely my sole focus right now is building propertymanagement.com into what I think the industry needs.

Pete Neubig: Right. So easy segue here. So tell me more about propertymanagement.com. Like to me it's just a URL. What is it actually. I go on there. What does it do for us as a property management firm.

Matt Speer: Yeah. So at a high level propertymanagement.com is the trust layer for the industry. If you think about  the business right now, like if you talk to an investor, a homeowner, their biggest like pushback or feedback would be that there's no trust or accountability when hiring a property manager. There's no way to know that a property manager, what they're telling you about their operations is actually legit. And there's actually a lot on the line for them, right? Like, you know, oftentimes they've got 1 or 2 properties. I think that's like the average investor. So it's a big deal to them. And so they're really just kind of gambling with their ROI in most cases when they're choosing a property manager, sometimes they get it right. Sometimes they get it wrong. And it sort of like for us, we want to be the Carfax of property management. You think about that industry before Carfax came along, you know, show me the Carfax, the fox. There was no trust or accountability. Like, if you went to a car dealership and you said, hey, I want to buy this Honda Accord, the, you know, used car dealership, the kind of sleazy side talking salesman's saying, hey, this is the best car that's ever existed. This little old lady's owned it. Never been in an accident. She rarely drove it. It's an amazing car. You should buy it. Well, you're like, you know what? I trust this guy. I'm going to buy this car. Two weeks later, it's broken down on the side of the road.  because there was no trust there. And so we, with our TrueMatch™ score, we're really looking under the hood and ranking a property manager based on performance, cost, credibility and trust, providing them a TrueMatch™ score,  so that we can give confidence and, you know, investors making it easy for them to find the best property manager. But then also the outcome is that property managers then can stand out and use this as a huge differentiator. You know, just for how they can compete in their market.

Pete Neubig: So you're very similar to my company, VPM Solutions where you're a double sided marketplace if I have it right. You have to excuse me. Excuse me. You have to find property managers to input their information. And then you you're basically going after investors to drive them to propertymanagement.com so that they can go find a property manager. So you're matching investors with property managers. Do I have that right?

Matt Speer: Yeah that's right. But one way we're really approaching it differently is that we're creating a new category. We're not selling leads. We won't ever sell leads. Okay. As a property manager, I'm tired of buying leads.

Pete Neubig: Yeah, it's kind of like that.  What was that, a PM? What was it called? I used to hate it. They would sell us leads. They would sell it to, like, 15 different property managers. You get on the phone and, you know, if you didn't call back in like 13 seconds, they would be gone. And they were all just tire kickers.

Matt Speer: Yeah.

Pete Neubig: I'm trying to think what the name of.

Matt Speer: I think it's like All Property Management is what a lot of people use. Yeah.

Pete Neubig: There you go. Yeah. All Property Management. Yep, yep.

Matt Speer: Well, if you think about it, it's funny you mentioned that you think about that experience. First of all, if you ever want to prank your friend or family member, like the best possible prank or maybe even like a fantasy football punishment or something would be, sign them up as a lead on All Property Management and you're going to they're going to get phone calls and phone calls from BDMs and it's just not a great experience.

Pete Neubig: On either side, it's the other side.

Matt Speer: No.

Pete Neubig: Not a great experience for the investor or for the property manager.

Matt Speer: Well, an investor, they might have searched something on like ChatGPT or Google or whatever and said, hey, you know who's the best property manager near me? Something like, hey, I'm looking for a property manager.

Pete Neubig: Or basically they Google it and they look at reviews, right? That's been the way to do it in the early 2010s, 20s, whatever it is.

Matt Speer: Yeah. And you see the ad or you see them show up and then you click it and you as the investor, the homeowner, you feel like you're going through this like white glove service or this like matchmaking process, like, oh, this is going to make it easy for me and my needs to find the best property manager. But the reality  it's whoever's paying them to show up is going to reach out. Yeah.

Pete Neubig: Or on the other side, whoever has the best SEO.

Matt Speer: Yeah. Whoever has the best. Yeah, the.

Pete Neubig: Best SEO or whoever's paying All Property Management the most money.

Matt Speer: Yeah. And the company with the best marketing plan and budget sometimes is the best property manager. Like, let's be real, but oftentimes it's not, right. And especially how fragmented this industry is. Like, we need ways for our companies as property managers to stand out and for us to like, how can we play by a different set of rules? How can we play, you know, chess while everyone else is playing checkers? Like you don't? If all we do is say, hey, you know, here's my sales pitch. We're better. Our days on markets this like you're just going to churn doors to your competition that you know, is saying the same things. And so it's this like, I think in my sales deck, I call it the infinity loop from hell. It's just like you're caught in that loop in that cycle. And like, we need to find a way to differentiate. And I think propertymanagement.com, what we're trying to do with our TrueMatch™ score, will do that in a lot of ways.

Pete Neubig: Okay. So let's break this down. Let's take it on the side of the property managers first. And I want to take it on the side of the investor of the experience. So obviously I know when I was building VPM before I even launched it to property managers, I had to get enough remote team members to create a profile, to have some to have, you know, some people there so that when you do when you are looking for a job or I'm sorry to post a job, you want to see that there's actually somebody in a database. I'm assuming this is the same type of challenge that you're running into that you have to get the property managers to kind of buy in first, put their information out there. Then when you launch it to the investors, now they have a good pool of property managers. So I'm assuming that's how you're tackling it. Yeah?

Matt Speer: Yeah. So there's a bit of that chicken and the egg problem with how we're approaching it, because we need the data to determine the TrueMatch™ score. It forces us to, you know, essentially add paying customers to get onto the platform and fully adopt the system. Our team's really good at data. And so we have the ability to estimate your TrueMatch™ score.  and so that allows us to sort of predict, you know, what would a non verified property manager score be? And so we have nationwide coverage in terms of what the companies in our database,  we're going to be launching top 100 campaign. And this will be something that our company does on like an annual basis, where we're going to be literally ranking the top 100 property managers in the nation objectively by the TrueMatch™ score. And that will include the top property managers in each market as well. And I think that's just a great way for a property manager to sort of dominate their market. Like, hey, if I'm the number one property manager verified by TrueMatch™ on propertymanagement.com, like, say in a big market like Dallas. And we've got plans to have like billboards locally paid for by propertymanagement.com to where it's not just this online presence. It's like the physical real world presence of like, hey, here's this billboard propertymanagement.com with, you know a specific property manager, number one in the market.  I don't know about like people listening, but I'd want to be that property manager that is able to stand out in that way. Right. But it's not something you can just pay for. You can't just come in and say, hey, how much money to be the number one market? You know, number one rated property manager in a market.

Pete Neubig: So let's talk about okay. So I have a property manager firm still today. It's kind of like you. I run VPM but I have a I'm an owner of a property management firm. But I could tell I couldn't tell you what the hell's going on in that firm. Right. I just me with my business partner once a month and and you know we kind of go over stuff. So let's just say Texas Lone Star Property Management, it's my new management firm, wants to, you know, get into propertymanagement.com, what are the steps? What does that look like? We'll talk about pricing later, but let's just like, what information do I need to be able to upload so that you guys can actually use your... I call it Talent Match on VPM.  what are you calling it again? I'm sorry.

Matt Speer: Yeah. It's TrueMatch™.

Pete Neubig: TrueMatch™. Okay, so we call talent match. You guys got TrueMatch™?

Matt Speer: Yeah, I like it. Yeah. We're two peas in a pod with the vernacular there, but yeah, our system's pretty simple right now we do a 30-minute discovery call. We want to make sure we understand, like, what your goals are, you know, are you focused on operations? You focus on growth. We can obviously help in both facets. But you have that 30 minute conversation with us, if it all makes sense and you want to jump on board to get verified. It's two 20 minute phone calls. So the first 20 minute phone call is with our COO. Ava handles all of our verifications like hands on. Because it is so important that we get that right and we follow that process diligently. But if you're using AppFolio, Buildium, and Rentvine, whatever tool you're using, you have two options. You can either Add us in as like a read only access and we can pull. We'll communicate the reports we're looking at, but we'll pull those reports ourself. Use that to then on the next 20 minute call, present the score. And also there's really cool insights that comes from that right. We can say, hey you're an 87. Here's your path to 92. Here's your top three areas where if you take your renewal rate from this to this, you're going to see improvement. And usually in that call they're like, yeah, I know we've had that problem. Like what are the best property managers doing to fix it. And so it sort of becomes like a KPI kind of operational process,  as well. But you do those two 20 minute calls, then you're launched on our site and then that's really where the fun begins, because we're also really trying to help property managers navigate this. I'm calling it like the AI tsunami that's coming and like how people are finding property managers and that's really where the fun begins for us as a next step.

Pete Neubig: Are there anything that you would recommend that somebody do, even before the call to prepare to get a better score? Like, do you have a checklist that somebody could download off the site to say, okay, let me go through this before I have those calls or the calls really dictate, like, hey, here's your checklist from those calls.

Matt Speer: Well, I think the first thing is like a mindset, you know. We're partners with our property managers. We want to shine the spotlight on the best operators. And so I can almost tell you ballpark what your score is going to be, just in terms of like how on guard you are with talking about your Performance. The companies that come into the conversation where they're like, hey, I want to improve, help me. You know, that usually goes really well. And like, you kind of get out of it what you put into it. And that mindset is really key. But you know how we look at the score, you can't really game it. You know, you can do things once you're aware of like how you can improve like and that's communicated in our process.  you can definitely move the needle usually within your performance category, which is the largest category of the score. But like trust and credibility are things like, you know, are you licensed? Are you properly insured? How transparent are you with, say, things like in cost pricing? How long have you been in business? How many doors are you managing? Is that trending up? Trending down. What's your online sentiment from owners, not just tenants. We're looking at all of these things,  and objectively scoring with this TrueMatch™ score. So if we score you one way, we score another property manager in your market. You have the confidence that we use the exact same system every time with the utmost integrity. And that's really the foundation of what we're doing is like we.

Pete Neubig: And I'm assuming based on the criteria, there's very little room for somebody to get upset or say, hey, I really want to negotiate my score because it's just like, here, these are hard and fast, and this is how we score people. And so it's very black and white.

Matt Speer: Yeah, we try to make it pretty easy just in terms of, like, bandwidth for your team to get your TrueMatch™ score. What I will say that we run into frequently is just bad data. And I'm not going to say what systems like we see better data structure. I'm not here to, like, advocate for a specific vendor, but whether you're using, like, AppFolio or Buildior Rentvine, all those companies do that a little bit differently. It's still the same information, right? But it's like, how do you present it? How do you organize it? And I mean, even as some of the biggest companies like AppFolio, Buildium, Rentvine like the data is a mess. And so it's really eye opening. There's a lot of companies that you pay our fee to get verified and maintain that verification. We're just us helping you clean your data up is worth.

Pete Neubig: It's worth it.

Matt Speer: Ten x because with the I don't know how these companies operate with the this data the way it is because how are they making decisions on their operational KPIs just as a company.

Pete Neubig: Yeah.

Matt Speer: And so people come into the conversation thinking, hey, I want leads, I want growth. Like, hey, are you another All Property Management? They realized that we're looking at it a different way that we absolutely help with growth. We always say, you know, we have this tagline that, you know, credibility is our currency, right? Leads end up becoming the outcome like growth and leads end up becoming the outcome. Credibility is the currency. But like the strongest foundation for credibility is a company that knows their data, knows their KPIs, and operates well.

Pete Neubig: Yeah, you're trying to become like the standard in property management, right? If I get this certification or this this score from propertymanagement.com, it's almost like not a governing body, but it's almost like, oh, this is like a stamp of approval. Like we're, you know, we're under this umbrella and it gives us as property management companies a little bit more, you know, what am I what am I looking for? Just like, more value, like, we're valuable because we have a certain level based on this, this governing body, if you will. So I think it's a really interesting concept that you have.

Matt Speer: Yeah. Yeah. The investor will drive like the client, the homeowner, the investor will drive a lot of the urgency. There's already you know, we're have a pretty pretty substantial like verification queue happening right now. Like people are jumping on board with this, but they'll be like late adopters that sort of feel like they have to jump on board. And they'll do that when their investors, their clients start approaching them with, hey, why are you not verified on propertymanagement.com? What's your TrueMatch™ score? And that's we're not this isn't like a new concept, you know, Carfax. Just use that analogy again. That's what happened, right? If a person said, show me the Carfax commercial, went to the dealer to go buy a car, they're talking to the kind of side talking salesman, and then the salesman thinks he's got the sale. He's going to close the deal. And then at the last minute, the consumer says, hey, show me the Carfax. If they didn't have Carfax report, what did that salesman do right after? They probably went into the GM's office and said, hey, you gotta buy that Carfax subscription like we need. We need this to be able to sell. And so I think that's probably going to be what will happen in our industry, because it'll just be such a better experience for the investor. And final thought on that is like, think about what this will do for retention. The whole concept of grass is always greener. If your clients aren't telling you that they're leaving and that's what they're thinking, they're getting the sales pitch. You're losing doors. You're churning doors to the other property manager in your market that's pitching the grass is greener. Make them prove the grass is greener. And if you can prove you have a high TrueMatch™ score and you're focused on that and you're maintaining that, you're communicating that to your clients. They're going to stay. So it's not just a sales tool or an operations tool. It's a retention tool.  that will obviously help help with your growth as well.

Pete Neubig: Do you think it's possible, though? Let's say I have an 87 and one of my competitors has a 93. Do you think it's possible that somebody would leave for five, six points?  Like, oh, I took I saw you competitor on you know propertymanagement.com and they have a 93. You only have an 87. So I'm going to go ahead and go to those guys.

Matt Speer: Well, it just depends on what their priorities are as like an investor. And if you think about well, what I mean by that is there's there's four categories. The cost and performance really are baked into the concept of ROI. You know, like these are investments. The investor, the client's looking for an ROI. Trust and credibility really fall into what I would call peace of mind. Like they just want to feel good that they're working with a good company that communicates well. They feel like safe. They're secure. Like these guys got it taken care of. And so if I care more about my peace of mind, I want to look for a company that's high on trust and credibility. I'm looking for a company that.

Pete Neubig: So each you have scores of four different categories and then you have a final score.

Matt Speer: That's exactly right. Yeah, that's exactly right. And also in a market. So let's say there's a market like  Atlanta, a market like Atlanta, there's probably I think in our system we're tracking something like 50 or 60 companies Realistically, you know, the realtor doing the property management a small scale like realistically there's probably like 100 plus property manager options in that market aside from just self managing. And so we're not looking to have 100 clients in Atlanta. The reality is it's going to be like that 80 over 20 principle. It'll probably be the top 20 not necessarily in score and performance or like TrueMatch™ score. It's going to be the top 20 that recognize that they can play a different game and that they can stand out and that value, that ability to kind of differentiate. Those are going to be the companies that are going to be drawn to us. And then they'll just be playing kind of at a different,  you know, set of rules as the rest of the market.

Pete Neubig: So a couple questions. One is, how long does it typically take to get onboarded from a company? I know you have the two 20 minute deals. Is it really that simple, or do I have to go back and maybe clean up books like so? On average, you know, how long does it take? Is it like a couple of weeks a month?

Matt Speer: Yeah. So if you yeah, if you signed up today, you would be three days out on the initial 20 minute call. Like you could push that and be like super proactive. And we'd talk again Friday. But we would have that score back to you by Tuesday or Wednesday, that following week. Obviously if you're super slammed or something and you're busy and you push out like two weeks and you're like, you know, it's more of an internal thing, like it can take a little bit longer because we do ask for some stuff from your team. So what we're asking for is access to your reports,  you know, takes five minutes or you send them to us. Might take ten minutes. And then some other information that might take another ten minutes. And so that's literally the only thing standing, you know, in the way we don't want it to feel like a mortgage application. No one likes applying for a mortgage. It's just like a dreadful, terrible process. So yeah, that sort of comes from my property management background where I recognize that property managers are intensely busy.

Pete Neubig: Now, do you push people when you're kind of looking at it? Are you pushing people to the NARPM accounting standards? Do you even know about those at all or?

Matt Speer: Yeah, that yeah. I mean, when you think about a company like a profit coach that I also like, pushes the NARPM accounting standards, it's not even competitive at all. It's super complimentary. Like our best clients are probably the types of people that are working with a profit coach and that's really a great way to kind of standardize the data. We're more looking at, like the data around your performance, unrelated to your, like, financials, like your PNL, like you could be a 97 TrueMatch™ score, just top 1% of 1%. But, you know, you could be running at a 10% margin because you're just fueling rapid growth or something.

Pete Neubig: Sure

Matt Speer: If it's really apples and oranges, but I would imagine, and this might get more formalized in the future,  we'll see how it plays out. But I would imagine the companies it's the opposite. High TrueMatch™ scores will mean higher margin.

Pete Neubig: Now this is a NARPM podcast, so I have to ask, by being a NARPM member, does that help with the score in any way by being a NARPM designee or, you know, having some those RPMs or NPMs?

Matt Speer: Yeah. So credibility and trust, like if I'm an investor homeowner and I want a good property manager, I have a feeling that being a NARPM member probably has like just a data science perspective, like correlation to higher trust, higher credibility. And so we're sort of like the way we'll talk about the like the scoring. Like we're not going to give the full like algorithm equation away of like here's exactly how we do it. But I can say like accreditation like NARPM, it's working in your favor from the trust and credibility side of things. Absolutely. And we're long term. Long term, what's going to be really interesting is that more and more data we have will be able to look at what vendors in the space, what affiliations like with NARPM, do companies like, do the strongest companies have like is Appfolio, does that drive a higher TrueMatch™ score or does Buildium? I don't know, I sort of can see some of the data so far.

Pete Neubig: Yeah. Over time you'll be able to really dive into all those. You'll be able to cut and slice that data in numerous ways, I would guess.

Matt Speer: Well, and performance is the number one is the largest piece of the pie in terms of the weight of the score. It's things like market. What are rent do you achieve relative to market rent. What are your total days without revenue which is combining your leasing process with your turn process?  all those things are really important. But the reality is, like the best companies are oftentimes affiliated with Nah and the reason for that is because they have access to the latest and greatest tools and vendors. So a company like a, you know, there's all these maintenance companies and AI companies coming out, but like a Property Meld. Property Meld – great tool, right. Like helps with maintenance. The leasing tools or automations like.

Pete Neubig: Tenant Turner.

Matt Speer: Tenant Turner. Those choices drive your performance whether you're tracking it or not. Right. Like do you do self showings or do you do real in-person leasing agents? Like being able to help make those decisions based on the data that we'll have will really, really give our, you know, verified clients an advantage.

Pete Neubig: All right. So now let's flip it to the other side. So the property manager, I go through the whole process. I decide this is great. You know I mean pay for the, I'm guessing it's a monthly subscription of some sort to be on there. I got a good score. I'm super excited. How are you guys getting the word out on the other side for the investors. Like, how do I know that this is going to because at the end of the day, right, I wanted to produce some leads for me. Right. So even though it's not a quote unquote lead generator, it really is in a way, correct?

Matt Speer: Yeah, absolutely. So if you search who's the best property manager Dallas, Texas, you're going to see propertymanagement.com organically ranking.

Pete Neubig: Nice.

Matt Speer: When I bought the site, I won't get into all the details. It's really fascinating but it'll take like ten minutes. So I'll kind of skip to the end. The site was at an all time level and then completely crashed. The guy that was running it just treated it like a directory. That was kind of his world. He did that with a lot of different businesses. It crashed. But the domain is the keyword domain. It is the number like it is the number one value domain our industry, $100 billion recurring revenue industry. And so I couldn't believe how many inbound leads were getting from literally day one when we launched the site, when we relaunch on day one. And so we already have a lot of that exposure. But where our property management clients are going to have the most value is how we navigate the new AI search frontier, like the property managers that are out there right now that aren't aware of the impact AI search is having on how people are finding property managers, you might be sitting there going, why am I not getting as many leads as I was getting before? It's because people are using things like ChatGPT, Perplexity to find property managers, and we're seeing that.

Pete Neubig: It's funny you say that. I'm starting to get leads from ChatGPT now for virtual assistants.

Matt Speer: Yeah. Oh, yeah. We it's in an amazing it's cool to hear you're like, hey, how'd you hear about us? They're like,  I was trying to grow my business, and I heard you guys are, you know, who we should talk to do that with, you know, hiring a remote team member. So. Yeah. And it's when you think about what's happening with AI search, because everybody's going to talk about AI, and I'm not going to be the guy that's going to go into, you know, you should be writing your emails and the processes and building software, whatever. I can talk about it for how it's going to affect you with your leads and growth, how people are finding you when you look at like large language models like ChatGPT, what they care about that's different from old school SEO. Like traditional Google search. They care about trust, credibility, and third party validation with an emphasis on third party validation. They care about, like if you typed right now, who is the best property manager Dallas, Texas into ChatGPT and click the sources it tells you literally the sites they use to reference what drove their recommendation. Every single time you'll see propertymanagement.com, but you'll see Yelp, you'll see Better Business Bureau which have some takes on but like it is a third party. You know, you're going to see Zillow different, you know, random sites that are third party. They don't care about the content on your site. So if you're spending a bunch of money on traditional SEO writing blogs on your site, that's not how people are going to be finding you in the future. They're going to be finding you because you're highly recommended on these third party tools that say you're good. And it's not review based or pay to play based. The TrueMatch™ score is objective, third party like performance verified data.

Pete Neubig: Right.

Matt Speer: We're making our site property management and your company profiles. We want to be scraped by the large language models. We want them to send their crawlers to our site and ingest our data into their models. That's a very new concept. Usually in a directory, you want to make it really, really difficult for someone to, like, come in and take your data like your directory. We want the opposite so that our clients will now be able to show up with one of the best domains behind them, property management.com to drive that credibility and third party validation.

Pete Neubig: That's eye opening. If you're listening to this, that right there that five minutes or whatever. Right there the last five minutes, rewind it and listen to it again. The old way of doing things is not going to be the new way of doing things. The SEO and, you know, getting Google, it's going to be through these, these AI models. And that's really interesting. And it seems like you're on the forefront of that.

Matt Speer: Yeah. And if you're a big company and you're on the first page and you get all your leads and it's a declining, but you're still in a pretty happy spot, you can choose one of two paths. It's the AI tsunami coming. And you can either treat it like, let's just see how this all settles, and you know, tsunami comes in and we'll just see where it all lands. Or you can think about it like the AI gold rush. Completely different mindset. It's an abundant mindset. It's a hey, let's go out and like be first movers here and let's be proactive and let's set the tone, grab the market share with this new way. You know, people are going to find local companies. I think those are going to be the companies like you can be small and not. You could be on like the fifth page or just starting a property management company today and you could show up on ChatGPT tomorrow. Like, it is amazing how fast that's happening. And it's a lot just about mindset. How do you approach it now?

Pete Neubig: Are you going to limit the number of companies per market that get this score, or you're just going to take as many as you can so that, you know, let's say in Houston or Atlanta, you had that example earlier on. There's 120, you know, companies. Are you going to take, you know, a percentage of that or if you get 120 people that want 120 companies that want to join on the platform, you can take them all.

Matt Speer: Yeah, we'll take anyone that wants to get verified. And that's a really key part of like the high trust, high credibility, kind of integrity, part of what we're going to do. But what will likely happen is that you're going to have the first movers and major metros that get verified. They realize they can use this as a sales enablement tool. By standing out, they can close at a higher well. You're closing at a 20% rate. You know, maybe you're getting 20 leads a month at a 20% close rate. If you get those same leads. And let's act like none of them are from us, even though some would be you now close at a 25% rate, right? I think the math there, if I remember it's like 12 additional doors. So from a sales enablement standpoint, like you're going to close better with this tool we don't really care about, like how many companies are signed up. It's really going to be more so about,  how these companies are using the score like internally in their communication retention to their clients on their sales calls. Like those are going to be the companies that use it and stand out, like, show it prominently and kind of use it as a differentiator. Us as a company, separate from our clients. We're going to be pushing a very substantial, like hundreds of thousands of dollars in marketing spend on an awareness campaign to the consumer investor. So you imagine an investor in, let's say you're a property manager and I don't know, Houston. Houston, Texas. Imagine if every single investor homeowner that has maybe it's self management or it's also they already work with a third party manager. Imagine them getting a mailer from propertymanagement.com that lets them know that they can now have their property manager, you know, have a TrueMatch™ score. How does their property manager rank compared to what the best would be in that market? We'll be able to drive a lot of that influence. And so do you want to be the company that's like included in that market marketing, and the leads are funneled to you because you've earned it? Or do you want to, like, wait and see what happens and see how the market reacts to that? I personally, you know, like I've built this to be something I would want to use myself as a property manager. And man, everybody's always looking for the silver bullet. This isn't a silver bullet. Like, you've got to earn the score and you've got to use it. But it definitely puts, you know, another tool in the tool belt.

Pete Neubig: I love it. Alright, Matt, if somebody is interested in learning more about propertymanagement.com how to get in touch with you.

Matt Speer: Yeah. This one's easy. Go to propertymanagement.com and then up in the top right. I think it's, 'Get Verified' and you can set a call up,  with us, and we can walk you through this again. 30 minutes. You're 30 minutes away from being able to at least consider getting a TrueMatch™ score and finding a way to differentiate yourselves.

Pete Neubig: And if you're listening to this and you're not part of NARPM, you can join, go to NARPM.org. Or you give them a call at (800) 782-3452. And if you do get TrueMatch™ and all those leads come in, you need a virtual assistant to kind of take on those leads to pre-qualify some folks before they get them to your BDMs go to VPMsolutions.com or email me, pete@vpmsolutions.com. Matt, thanks so much for being here buddy.

Matt Speer: Yeah appreciate it. Thank you.