Building Processes into your Commercial Real Estate Business

//Building Processes into your Commercial Real Estate Business

Building Processes into your Commercial Real Estate Business

Let’s face it, your business needs to be able to run without you.  If you’re guilty of getting involved with every deal, negotiation, brochure layout, and management decision it’s time to step back.  After-all, wouldn’t it be nice to have a vacation without checking your voicemails?  Having a set of processes with policies will allow you to easily train new agents to handle business without holding your hand.

Here are a few ways to help in building processes for your business.

1)  Write it down.  Provide great detail in all areas of your business including, (1) generating new leads, (2) lead follow-up methods, (3) easy-to-understand set of services for different types of properties, and (4) checklists of what to do with new listings:

  • Photos of property
  • Gather info on property (providing a form may be helpful)
  • CoStar, place new listing
  • LoopNet, place new listing
  • Property Line, place new listing
  • Craig’s List, place new listing
  • Brochure, when finished add to CoStar, LoopNet and Property Line
  • Email this property brochure to your agent list
  • Set a reminder to follow-up with property owner every 2 weeks

Strive to make your directions so clear that your grandmother could easily work her way around a deal.

2) Test and clarify.  Your first test will be to go through a deal on your own, continually checking your own guidelines to ensure you’ve added everything.  Clarify or re-write things that may not be clear or are unfinished.  Your second test will be hiring someone or handing your process to an agent / admin.  Go through the guidelines with them and make notes on what could be clarified even further.

3) Forms.  A form can easily put together all the information you need for a listing including address, features, location, parcel numbers, descriptions, and more.  This information can be used and repeated for all the property’s needs.

4) Templates.  Standardize your brochures and letterhead with a common Publisher file for everyone’s use.  You may need to provide either a Publisher license for each agent or provide a desktop computer in a common area for agents to utilize.  Providing an easy-to-use templates will prevent agents from going rogue with their own brochures.

5) Walk the walk.  You need to set an example for everyone else.  Follow the guidelines yourself, fill out the forms and use templates.  If you’re skipping CoStar, everyone will follow your lead.  Be sure you’re using the checklists and guidelines like everyone else.

By |2016-11-19T20:42:27+00:00March 31st, 2013|Essential Marketing|Comments Off on Building Processes into your Commercial Real Estate Business

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I create commercial real estate websites that are lead generating machines. Bring in leads while you sleep with our Lead Generating Website! Check out my 5 Steps to a Killer Lead Generation Website for tips on calls-to-action, follow-up automation, generating traffic, trust-building on the internet and more! Automated lead generation is achievable, I can show you how!