In Episode 74 of the Wandering But Not Lost Podcast, co-hosts Matt Emerson and Jan O’Brien continue their series on how to move from being a Realtor into becoming a real estate business owner.  Today we look at the important factors that play a role in the basic operations of your business.  In Wandering Zen, we explore the 3 downtowns of the Las Vegas area!

 

  

WBNL 52:  Be a Real Estate Business Owner – Operations

 

  

 

Operations refers to the day-to-day activities of being IN your business!

  • For real estate, it’s taking listings, showing homes, writing and negotiating offers, managing the escrow to closing, communicating with other agents, lenders, escrow and all other parties to a transaction including the buyer or seller
  • How much time are you spending IN your business?
  • Do you make time to work ON your business?

Solopreneur vs. Team

Leverage the power of a transaction coordinator or assistant

Create an Operations Manual

https://wbnlcoaching.com/create-your-real-estate-operations-manual-download/

A Real Estate Operations Manual ……Why you need one!

  • Written procedures for the primary pillars of your business operation will provide consistency, efficiency
  • It’s a reflection of your expectations and standards for all team members
  • Create checklists, job descriptions and clear tasks for every member of your team
  • Your manual becomes your training document when onboarding new team members
  • It is a Key asset for your eventual Exit Strategy
  • You can build it as you go (don’t get overwhelmed … it is a process!)
  • Leverage your admin staff to help you create the written procedures as required
  • What are those key pillars of any business?
    • Business Plan & Goals
    • Database Management & Referrals
    • Lead Generation & Marketing
    • Client Service Pre, During and Post Sale
    • Financial Management & Operations

For Real Estate Agents, Teams and Brokers:

  • Listing System
  • Buyer Sales System
  • Recruiting & Growth Plan
  • Hiring System
  • Retention, Training, Coaching

Download and customize the tasks and then add written procedures for any tasks that take 2 or more steps in the manual template based on how you conduct business:

  • Listings (Sellers)
  • Sales (Buyers)
  • Lead Gen – Database
  • Lead Gen – Farms
  • Lead Gen – Social Media, Internet
  • Marketing Networking
  • Hire-Onboard
  • Team Admin

Here is how we recommend you get started working on this project;

  1. Work on Listing & Sales tabs first (use any checklists or procedures you already have in place)
  2. Revise and customize the tasks for both areas (essentially everything you do from A to Z when working with a buyer and seller)
  3. Use the columns to identify who is responsible for the tasks now (and who would do what for future team members and growth)
  4. Next, write the procedures for any task that requires 2 or more steps.  Use screenshots to illustrate steps if applicable.  You can also use screen capture software to record video tutorials (Snag-it, Camtasia, Screeenflow)

 

Use your CRM!  A great CRM is more than a contact management system!

Design and follow a perfect week

 

 

 

Wandering Zen – The 3 Downtowns of Las Vegas

 

 

There is so much more to Las Vegas than the strip so on your next visit, make a point of getting out and exploring the other things that Vegas has to offer.

 

  

 

Links to get you started on your adventure:

Downtown Las Vegas

Summerlin

Henderson

 

Water Street, Henderson, NV

Fremont Street East, NV

Summerlin Mall, Las Vegas, NV

Mentioned in the Episode (Resources & Links)

 


 

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