Things to Consider When Growing or Building Your Real Estate Company

Here’s a list of topics we typically use with clients to discuss all the moving parts of a real estate company.

Operations:

Systems

– think in terms of writing a manual or handbook

– people need simple, easy to remember guidance – how to analyze new tools/software

Team Structure

– don’t follow the book! (use your brain) – think like a sports team

Goals (personal and business):

– look at big picture

– use specific goals with numbers

– establish time frames for review (weekly, monthly or quarterly)

Finding Homeostasis – it can be done!

– right number of staff (fixed cost)/agents (percentage) – learn to be in flux, but content

Hiring (who and when) + Finding Your Best Use

– application process (consider video)

– DISC profile or similar

– have them meet with another team member to assess

Meetings + Culture

– meeting frequency and length

– mandate vs. discussion

– have purely social functions (you can let others pay!)

Lead Gen vs. Agent Conversion

– they are different!

– different times to transact by lead source

Marketing/Brand Management 

– saleable brand

– personality

– social media

Accounting and Finances

– track, track, track! Even if it’s just asking leads how they heard of you

– watch your P&L monthly

– use Quickbooks or Mint if you can’t hire a CPA

Leadership

– lead with empathy

– be present

Momentum

– like driving a boat, no sudden changes, just subtle corrections – you are always moving in a positive or negative direction

Time Management + Efficiency

– your appearance (including your workspace)

– deciding what to give your attention

– networking vs. notworking