If your goal is to build a successful real estate business, then it’s imperative that you make systems development a priority. Owning a successful real estate business is really about developing and owning successful systems, then leveraging others to work within those systems. Effective efficient systems make a real estate business highly profitable, scalable, and sellable.
When it comes to developing real estate business systems there are many approaches. These are three ways to accomplish systems development:
1. Self Development
Working in real estate is a juggling act. There are many aspects of the business that have to be balanced simultaneously. Naturally, this causes agents to work intuitively to get things accomplished. However, in order to have a system it’s critical that the steps and procedures used to accomplish tasks be documented from beginning to end.
A great way to get started is to pick a process that you could have someone else complete and write down step-by-step directions how to complete the task (e.g., transaction coordination). Document everything regarding which software you use, how files are named and saved, and how decisions are made. The more comprehensive you make your documentation the less time you will spend in the future answering how-to questions from employees or outsourcers.
Many processes in real estate can have associated problems. If the process you’re documenting is problematic, make sure you develop a methodical set of problem solving instructions. Don’t assume solutions are obvious (i.e., common sense), or that the person working on them has good deductive reasoning skills. Spell it out very clearly for them!
2. Hire A Coach
Ever wonder why world class athletes and organizations have coaches when they already have so much talent? They hire coaches because they realize a coach already has blueprints for success. Coaches save you immense amounts of time and money, show you the pitfalls along the road to success, and help hold you accountable to your goals. If you’re willing to follow the guidance of a coach, the time savings and intelligence they can provide you with is extremely valuable. If you’re interested in coaching you can setup a free call with us to see if coaching makes sense for you.
3. Join A Successful Team
If self development and coaching are not options that appeal to you, then joining a successful real estate team may be a good alternative for obtaining business systems intelligence. It’s like one of my favorite sayings; “To get better, you have to play better.” While you will have to give up part of your commission to the team, the value and education of working within effective systems, along with mitigating risk of all out failure, is well worth it.
Get Started Today
Creating successful systems can involve a lot of trial and error, and it can become very costly. What’s even more expensive is the associated opportunity cost from not taking action. Developing systems for your real estate business is imperative to capitalizing on growth opportunities. The great military philosopher SunTzu said “Opportunities multiply as they are seized.” By starting today you are proactively positioning yourself and your business to take the steps required to reach success. At the same time you bring death to procrastination, a thief of your success.