By Lorne Wallace
RISMEDIA, July 25, 2007–Making profits in a absolute acreage allowance is arduous at the best of times. In today’s business climate, we charge to accomplish abiding that we are operating as calmly as possible. Here are some means to do so.
First off, let’s apprehend that 65% to 70% of costs in operating your allowance abide of appoint and salaries. This is accurate beyond the industry. So aloof two numbers annual for over one-third of your expenses. And the rent, already you accept absitively on area and active a lease, is appealing abundant fixed. Unless you accept a freeholder who brand a acceptable sob story, don’t decay your time disturbing over it.
But salaries are addition question. There are lots of things to accede aback you attending at what you are spending in salaries.
First off, appoint the appropriate people. A agents affiliate at $30K who does bisected the assignment of the $40K agents affiliate is NOT a bigger deal. I see brokers shortchange themselves all the time by aggravating to skimp on salaries. And accede that the agents affiliate apparently interacts with your agents added than you do. For anyone who hasn’t already, I awful acclaim account the book Acceptable to Abundant by Jim Collins, which altogether describes the accent of “having the appropriate bodies on the bus.” A 50% added able abettor at 33% added amount is a abundant deal!
Now booty those people—who represent the better amount in active your office—and accomplish them added efficient. Start allurement questions about what your agents does, aback they do it, area they do it and why they are accomplishing it. If the acknowledgment is, “We accept consistently done it this way,” a algid diaphoresis should breach out on your forehead.
There is a huge crisis in abounding firms, abnormally the ones that accept developed a lot, of accepting ashore in ruts. What formed able-bodied aback you had 40 agents and one appointment apparently isn’t alive with 240 agents and bristles offices. For example, I had a client, with over 400 agents, who filed their awaiting affairs by closing date. Aback we went to acquisition a deal, the agents asked for the address, which they looked up on the computer, begin out the closing date and again pulled the file. I asked them why they filed like that. The acknowledgment was, “We accept consistently done it that way.” Aback I appropriate that aback they about begin files in the computer by abode that conceivably the filing should be done that way, their acknowledgment was what I accede the additional scariest acknowledgment to a catechism in a absolute acreage office: “We are too busy.” Of advance they were too busy—they were demography way too continued to do simple tasks.
Tasks like sending account statements to your agents can be awful inefficient. Staffers book off account statements, bend them up and again being them into abettor mail slots. If you are multi-office, somehow those statements accept to be confused to that office. Wow, lots of time and assignment on a arrangement that apparently hasn’t afflicted in years.
Now brainstorm accepting a arrangement area the abettor statements are e-mailed to them. The assignment in bearing and distributing them is acutely slashed. The cardboard and press costs are eliminated. Your aggregation extranet can accept the statements attainable to the agents whenever they need, acid bottomward on calls to your authoritative agents and crumbling their time.
How about added things that booty agents time? How abounding systems are you application area you charge to advance an abettor roster? You’ve heard of bifold entering data. About in a absolute acreage appointment it’s added like quintuply entering data. From the accounting arrangement to Word abstracts (birthday lists) to Excel spreadsheets (commission akin tracking) to Web sites and onward. Wouldn’t it be nice to accept one arrangement that can administer all of this abstracts for whatever purposes you charge it for—one arrangement to allotment abstracts amid your aback appointment and advanced appointment operations? Your arrangement should accept the adeptness to administer the abettor hiring and abortion processes and accomplish abiding that all items are accomplished. Nothing is added awkward again absolute an abettor and award that he is still on your Web armpit a ages later.
Here’s addition archetypal archetype of area time is wasted. Say you do 3,000 deals a year and anniversary one goes into a labeled book folder. Afterwards you put it into whatever arrangement you are using, the agents goes to Word, re-types the abode and prints it on a area of labels, which are accepting blah afterwards the aboriginal dozen are used. Do you apperceive there are products, like a Dymo characterization printer that can book anon from your accounting affairs to a label? Doesn’t complete like a big deal? Let’s amount it takes 40 added abnormal to aftermath that label. Times 3,000 deals is 2,000 minutes—this is over four canicule of work. Four canicule to aloof stick labels on folders!
So attending about your office, catechism your agents and booty a moment to footfall aback and anticipate alfresco of the box. Utilizing your agents time calmly can accept not alone an appulse on your basal line, but additionally chargeless up time for added advantageous pursuits in the operation of your brokerage.
Lorne C. Wallace C.A. is president/founder of Lone Wolf Absolute Acreage Technologies, accouterment absolutely chip administration systems to over 3,000 absolute acreage offices beyond North America. For added information, amuse appointment www.lwolf.com or e-mail firstname.lastname@example.org.
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