What’s your real estate business worth—and how can you make it worth a whole lot more? In this special webinar event, we’re joined by Steve Murray – Owner & President of REALTrends, and an industry veteran with real estate experience dating back to 1977. Steve is widely recognized as an authority on residential real estate, having served dozens of state and local Realtor® associations and MLS organizations in a consulting capacity and has consulted with several large technology firms over the years.
How do you know when it’s the right time to hire someone? At what point do you stop working IN your business so you can work ON it? HOW do you hire the right person and start building your team?
Tyler Smith is the founder of Skyslope which just sold to FNF (for a big fat 8 figure check), he built a 700 real estate transaction business and in this Podcast, he breaks down the exact formula for building a team.
Listen To This Podcast Now:
It all begins with the realization that you need to hire people, but not just anybody, GOOD people who are talented and will have the motivation to keep the backstage area of your business in tip-top shape. You can hire someone who has a great personality and who will laugh at all your jokes but if they do not fill the need you have, then it would be pointless. Remember that when you have parts of your business that aren’t working well, it devalues the trust your clients have for you.
Create a Plan
First, you need to know your numbers, know your goals, figure out how you want to get there and then strategically plan how you can get from step 1 to 10. Lay down a step by step plan for everything from marketing expenses to operational costs. By creating this, you can start building your business, including who you want to hire and for what specific role.
Hire for the Need and To the Need
Take a look at your business and find holes that need to be filled. What are the responsibilities that are falling to the wayside or are not up to snuff? Is your prospecting not as consistent as you would like? Is your transaction coordination paperwork messy? Are you neglecting your social media platforms? Figure out where your pain points are and find someone who has the skills that can alleviate that for you. A good rule of thumb is to hire your opposite, meaning, hire someone who is not like you. Someone who has an opposite set of skills and perspectives may be just the person to fill those gaps you have in your business. Determine what you need, define clear roles, find who would fit that role perfectly and decide what level of talent you want to buy.
Make the Switch from Realtor to Business Owner
If you say you don’t have enough time then you need to hire someone. If you are saying you don’t have the money, you need to think about the value of hiring the right person will bring to your business. You have to give up the things that are holding you back from success. You have to learn to delegate the responsibilities in your business because the time that you get freed-up by delegating goes to generating more revenue. If you are doing $10 an hour work, you are telling yourself that that is what you are worth.
If you are saying that you don’t have the time to train a Virtual Assistant then you need to look at it this way. Training someone to be responsible for specific areas of your business is like making a compound investment. Once you train someone on a certain responsibility, you will never have to do that yourself again, think of all the time you will have saved by taking the time to train someone.
Schedule a Double Your Business Growth Strategy Session and we’ll discuss with you the EXACT formula Tyler Smith used to build his business.
Do you want to see some numbers about today’s Real Estate Market? We know that it’s shifting, and we know that we need to shift our mindset and our strategies in order to ensure that we don’t just survive but thrive. These numbers are a great baseline to figure out exactly what needs to be done in order to do just that. Read more
It is a well-known fact that the Real Estate Industry sees a dip in business during the holidays. With school out and people preparing for the season’s festivities not very many people are looking to strike huge business deals and such. Despite that fact there are many ways to keep your business going. If you are one of those people who would actually like to enjoy your holidays then this is the perfect time to delegate holiday related tasks to your Real Estate Virtual Assistant.
- Send Out Holiday Greetings- This is a great time to send a personalized greeting to our past, current and/or potential clients. Whether it is a gift basket, some homemade treats, a postcard or even an email, use this as an opportunity to really ingrain how much you care and how much you appreciate your contacts. Include specific details to show them that you pay attention and they are important to you. For example “How is your son John doing? Last time we spoke, you told me was preparing for a semester abroad, how did that go?”
- Offer Special Holiday Deals- Who doesn’t love a good deal? The right offer just might pique someone’s interest enough to take time from the holiday hubbub to make a deal. Whether its freebies or rebates, offering an awesome deal can definitely be a great way to try and bring in some business.
- Make Follow-up Phone Calls- Prospecting during the holidays may not be met with the most enthusiasm. So instead use this time to call your past clients. Greet them and ask them how they are doing, also remind them to keep you in mind if any of their friends or family mentions needing a service that you provide during one of their holiday parties. Keep the call quick and simple but sincere.
- Get Ready for After the Holidays- Use the lull to zoom in on concerns that normally get set aside when business is in full swing. Update office systems, clean-up your database, or outline an action plan. Take advantage of the downtime by getting things ready for the upcoming year.
- Gather New Information- During this time of the year there are many conferences that are going on all over the country, do some research and see what would benefit you and your business, you may even get a vacation out of it, bring your family along! If you can’t travel, then pick-up a book or 2 related to your industry and brush-up on ideas and methods you have been wanting to look into. Read more