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Operational efficiency is a crucial element of any successful brokerage. With a streamlined workflow comes improved productivity and, with it, a boost in profitability.
Your brokerage is still struggling to improve workflow or looking for alternative solutions.
Here are some tips to help you run your operation:
Integrate Your Tech
One of the best investments you can make for your brokerage is technology. Of course, you have to invest in the right ones so that you can get the results you want. You’ll only be wasting money if the app or software you purchase doesn’t help your agents. As a general rule, however, you should choose something that you can integrate with other tools you’re already using, such as email and messaging apps.
Click here to know more about Brokerkit, a recruitment software that you can integrate with various tech solutions. For example, you can integrate it with Terradatum so you can import MLS agent rosters. You can also use Brokerkit with Wright Brothers, Inc., which makes it easier to capture agent recruiting leads.
Of course, you should also look for integration options with Google and Microsoft. These are two of the most commonly used platforms for email and calendar management, not to mention document creation. Prioritize the integration of the apps that are used most often to ensure a big boost in productivity.
Improve Customer Service
Every brokerage—indeed, every business—should aim for good customer service. Of course, it’s your clients who will be the final judge whether or not your customer service is actually good. Nevertheless, you can put in considerable effort to make things as smooth as possible. After all, no customer likes to feel as if they have to jump through hoops just to air their concerns. All those extra hoops can also burden your agents.
Focus on efficiency. As much as possible, cut down on the steps needed in handling customer issues. Anticipating potential problems and creating solutions for them can also minimize the time needed to handle cases. This will free up valuable hours that you can then use for improving other parts of your business.
Learn How to Prioritize
To streamline your workflow, the first thing you need to do is to figure out all the steps involved. List down everything that you and your real estate agents do as soon as you establish initial contact with a customer. You should also take note of other procedures within your brokerage, such as filing systems to requisitions. Finally, include any and all technological components you use for each of these processes.
Afterwards, analyze each procedure. Evaluate each phase and don’t forget to ask your team for their opinions. After all, they’re the ones who are going to benefit the most from a streamlined workflow. Identify the pain points in each process as well.
Finally and most importantly, prioritize which of the identified processes would be your priority. Pick the ones that have the highest potential for increasing productivity and improving morale. Consider taking a look at your customer support system, as well as your documentation process. Remember that real estate involves a lot of paperwork; making the documentation process easier can take a huge load off the shoulders of your agents.
Don’t Be Afraid to Automate
In relation to the previous point, automation is one of your biggest allies in prioritization and efficiency. Don’t think that it involves something high-tech, too. Automation can be something as simple as eliminating paper forms and having an online system to replace them. As a bonus, going paperless can also decrease your carbon footprint, which can improve your brokerage’s reputation.
Remember to ask your agents and other employees regarding the points in the workflow where they spend the most time. This can help you gauge what automation solutions can be applied or if automation is the right solution to the problem.
Invest in People Training
If you truly want to streamline your operations, you have to invest in your employees. Indeed, it won’t matter if you have the most efficient workflow if the people who are going to use them aren’t skilled at what they do.
Allocate resources for continuing education and training. When your real estate agents are experts in their field, they’re both more productive and efficient. They can also maximize whatever tools you give them. The ultimate goal here is for your brokerage to be able to provide the best possible customer experience. This won’t be possible if your people don’t have the training to do their jobs well.
Every brokerage has its own way of doing things, but the basics don’t change. At the end of the day, you need to be closing deals and providing top-notch service. Both of these goals are easily achievable when you have streamlined operations. Hopefully, these tips can help you develop workflow solutions that are tailor-fit to your team.