Take Our Real Estate Business System Assessment – Where are you now?
- Download and complete the Real Estate Business System Assessment
- Identify areas that need refinement
- Create a list and prioritize the focus areas and your action items
- Schedule time weekly to work on the action items
- You must have your house in order first!
Real Estate Team Builder Principle #1
Begin with the End in Mind: Build a Saleable Asset & Create Your Exit Strategy
- What is your ultimate outcome – the end game for your real estate business?
- What is your exit strategy?
- Do you currently have a saleable asset?
- What actions must you take now to work towards your exit strategy?
Real Estate Team Builder Principle #2
Run it like a Business
Are you running a real estate business, or is IT running you?
Running it like a business means you have made that mindset and operational shift to working and thinking as a small business owner.
It means you have effective and efficient business and real estate systems in place to support your team (company).
Real Estate Business Systems:
- Real Estate Business Plan and Goal-Writing
- Your Brand and Value Proposition
- Identifying Your Perfect Client
- Marketing and Advertising
- Your Database/Past Client/Referral System
- Listing & Farming System
- Buyer/Escrow System
- Lead Generation and Follow-up System
- Internet & Social Media Marketing Strategy
- Technology, Mobile Operations
- Business Financial Basics for the Real Estate Agent
Real Estate Team Builder Principle #3
Brokerage within a Brokerage Model
Enjoy the many benefits that come with building your team within a company that supports team building:
- Focus on your own and the team’s production
- Let the brokerage handle all the other details, risk, liabilities, and requirements for running a brokerage
- Regulatory compliance
- Commission handling procedures
- Facilities management and overhead
- Dealing with complaints, disputes, litigation
- If you are a small broker ready to fully embrace teams and/or seeking support:
Real Estate Team Builder Principle #4
Concept of Working “ON” your business while working “IN” your business
In The E-Myth, or Entrepreneurial Myth, author Michael Gerber’s core premise is that most new businesses are not started by entrepreneurs who set out to build a strong business but by technicians who enjoy the hands-on work themselves. Because of that natural bias, most business owners focus on working “IN” their business when really they should be working “ON” their business.
As a solopreneur, the key is to find that delicate balance of working “ON” your business while you are working “IN” the day-to-day operational tasks.
Instead of looking at your business as a one-off operation, consider your business to be a prototype for a large number of franchises (expansion teams) that could be added at a later date. By adopting that mindset, you, as the business owner, will not only participate in the business as a technician but will also act as a manager (putting systems in place and controls) and as an entrepreneur (having a vision of how the business can create sustainable added-value for all key stakeholders).
Key points and takeaways:
- Time Block – schedule time weekly to work ON your system and business
- Operations Manual – start with Listing & Sales
- Think Franchise – Duplicatable Systems
- Expansion / satellite teams in other markets
Real Estate and Reality meet as co-hosts, Jan O’Brien and Matt Emerson bring you Tips, Tools, & Topics to supercharge your business. They’ll share their insights along with interviews with industry thought leaders. The ethos of WBNL Coaching is helping you to align and connect so that you can prosper. The Wandering Zen segment will offer you some inspiration so that you can disconnect and recharge.
Visit WBNL Podcast for all of our Episodes, Show Notes, Videos and Links to Resources
- Interested in Building a Real Estate Team? Check out our complete, turnkey REAL ESTATE TEAM BUILDER System
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