Andersen, Jung, & Co
Boutique real estate and property management firm
San Francisco, CA
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Julia with Monica Chung, the founder of the firm.
Andersen, Jung, & Co is a full-service boutique real estate and property management firm. The firm finds buyers looking to invest in San Francisco real estate and manages their property. We talked to Monica Chung, the firm’s founder and a licensed real estate agent, about the software her firm uses to manage properties and automate the sales process.
7
real estate agents
20 - 60
units under management
Software used
Appfolio
Property Management
Chung’s firm uses AppFolio for everything property management. When they add new listings, the posts are automatically published on tenant sites like Zillow, HotPad, etc. Managers can add notes on tenants, see when rent is due, track and issue contracts, get alerts and reminders for property maintenance, etc. Tenants can log in to Appfolio’s portal to pay rent and update their information. The firm switched from Yardy to Appfolio about 18 months ago on the recommendation of a friend.
DocuSign
Contracts: Esignatures
The firm uses DocuSign to manage contract e-signatures with tenants and clients. The California Association of Realtors partnered with ZipForm and Docusign to develop features specific for realtors.
Obeo
Virtual tours & brochures
Obeo produces visual media for homes. They take high-quality photos and videos to showcase the home and create beautiful visual content for realtor's website, flyers, and social media posts. Chung said they take care of all visual content for a flat fee.
NatSuite
Comparative market analysis
Chung’s title group (The North American Title Group) facilitates transactions and protects both property owners and tenants from fraud. The group also provides a range of tools to agents. Chung described an app that allowed her to pull up recent nearby sales and show clients the value of similar properties. She said the software like valuation tools and lease projections are valuable when closing sales.
RedFin
Multiple Listing Services (MLS)
Andersen, Jung, & Co keeps close tabs on new listings as they appear on aggregators (both free and subscription-only). Most agents join a local board to get access to the MLS. She said she trusts RedFin’s appraisement the most. When properties become for sale that seem like a good fit for a buyer, Chung emails the buyer to gauge their interest in investing. The firm also aggregates the listings on their own website optimized for Chinese clients hoping to invest in American property.
Q&A
What are some of the main problems and challenges that you face?

Managing home services vendors: Chung’s team spends a lot of time negotiating contracts with home service providers and supervising property repairs and inspections. She interfaces with the property tenants (need timely service), the property owner (needs cheap service), and the providers (need flexible hours and revenue) to find the best quotes and most reliable service fast. She said this process is "full of drama" and turnover.

Converting prospective buyers. When people express interest in investing in property or a building, Chung works hard to provide personalized service to get the client exactly what they need. Her team is working on a listings aggregator for prospective clients in China to capture more potential interest and convert buyers.

Client services: Chung said that getting clients is more of an art than a science. Andersen, Jung, & Co responds to the needs and preferences of owners and potential owners; some clients regularly communicate with the firm and others don’t want any communication. She serves individuals, companies, and groups of investors and, unlike most property managers, she gets her clients primarily through referrals and doesn’t spend almost any money on advertising. Property management isn't “a cookie cutter business” and software needs to be flexible to meet the needs of different clients.

How do you discover new software to help your business?
  • Referrals: Chung gets software recommendations from other property managers.
  • Professional groups: The industry is still regulated by real estate associations and title groups. Firms pay to join professional groups, which gives them access to tools and multiple listing services of properties for sale. Andersen, Jung, & Co uses software provided to them by the professional groups where they’re members, like the California Association of Realtors and North American Title Group.
Julia and Eric's Ideas / Commentary
Andersen, Jung, & Co is a client-services firm that acts as a middleman between property owners and renters. Some possible product opportunities:
Property management
Even with Appfolio’s extensive feature suite, property management is a logistical headache. Chung said it is difficult to keep track of contracts and find the market rate for vendors like plumbers, pest control, landscapers, etc. Chung does most of the price negotiations herself, pressuring home services vendors to improve their service and decrease their cost. The diversity of building types in the Andersen, Jung, & Co portfolio - both commercial and residential - adds complexity to the process since different buildings have different needs.
Automated tenet risk classification
When approving tenants, Chung makes a gut call based on her experience and the tenant’s credit report, income, and situation. For her firm, she doesn’t think a “smarter” process is worth the time since missed rent is a minor risk.