Whether you’re working in real estate sales or within the world of rentals, many tasks need to be managed efficiently throughout the workweek to be profitable and productive. Often, it can feel like you’re falling behind on all tasks simply because there is so much to get done. Are you really falling behind, or are you simply overwhelmed?
What can you do to streamline your real estate and lease processes for a more effective workflow? Today, learn about five ways to address problems that can occur in these real estate fields and make your time more profitable.
#1: Work with Your Team to Resolve Problem Points
Agents, property managers, assistants, and other team members encounter daily problems. They may resolve these independently, or they may contact you to find a solution. Ultimately, they are the ones familiar with the majority of problem points that may be slowing down your real estate and lease processes.
Work with them to identify these issues, and then ensure your team has the tools they need for success. Your property managers may need a better rental application portal or work order management system; your virtual assistant may benefit from a digital calendar portal.
Ultimately, the exact tools that will improve your team’s workflow will depend on your team’s structure. Work closely with your team to situate what tools are being used. This time investment will pay out immensely.
#2: Utilize Management Software
Speaking of tools, it’s essential that you use the best management software for your work. Experts design management software in the field to give you easy access to everything you need to take a transaction from start to finish.
As a real estate agent or tenant who leases out a space, real estate transaction management software may be the tool that you’re missing. This type of transaction-focused software sets up a transparent look into everything that you have going on. At a glance, see what needs attention, what is progressing as planned, and where there is room for improvement.
Your business will always benefit from better management. Sometimes, however, that doesn’t mean you need to work harder at managing. You may simply need to work smarter by incorporating a real estate transaction tool, so your work isn’t going into unnecessary tasks.
#3: Improve Your Interactions with People
Working in real estate means working with people. Often, individuals are attracted to this field for their careers because they are good at talking to people, building relationships, and communicating. However, that doesn’t mean that there isn’t room for improvement.
Many major hangup points are caused by miscommunication or missteps in how people interact. Simple mistakes can lead to anger, frustration, and failed transactions. Regularly learning about good communication tactics will pay off when working in real estate.
For example, an agent that knows how to work with stubborn individuals may be able to smooth over conflict and get the sale finalized even when it feels like everything is going to fall apart. It’s not always possible to resolve disputes, but it is often possible to mitigate damage caused by disagreement. As an agent, knowing how to work with people must be a high-priority skill.
If you are working primarily in rentals, the same will be essential. Not only do you need to be able to vet your rental applicants to find out who is a good tenant fit, but you also want to make sure that you can deal with tenant issues as they arise throughout a lease contract. Being able to communicate clearly and diplomatically can genuinely improve your bottom line.
#4: Create and Use Digital Templates
You’re probably already utilizing digital templates for many transactions or leases that you work with, but are there more templates that could simplify your workflow?
Digital templates are a fantastic way to streamline your processes. Everything from welcome emails to work order responses can be saved as a template for simplified communication. Additionally, having templates that can be updated as needed ensures better accuracy when working with clients and tenants.
Any document you find yourself heavily modifying or starting from scratch can and should be turned into a template. Even a sale that feels like a one-off may become more standard, so it’s always a good idea to save a template version of your sale and lease documents in an organized location.
Keeping these documents on hand will make it simpler to work on similar transactions in the future, and that can make a huge difference in how much time you are spending on document updates and revisions long-term.
#5: Clarify Communication Channels
Finally, the final tip to take to heart today is that the way you communicate with your employees, coworkers, contractors, clients, and renters matters. If communication gets lost or overlooked, things take longer than they need to be. Every minute is money in the real estate and rental world, so these things mustn’t fall by the wayside.
What type of communication channels do you have set up with your employees? What do you usually use to communicate with renters or clients? Is there a particular service that is more functional than others?
When possible, try to use one type of communication channel. This will keep all communication in one place. When you need to send something separately, such as an attachment in an email, make sure to utilize the primary communication channel to inform relevant parties that an email was sent.
Of course, there will be exceptions to your preferred communication methods, but these exceptions will be fewer in number than how often you use your primary portals.
The less communication that gets lost, the better your process will be. Streamlining communication is vital when streamlining your business processes, so don’t feel like investing time into how you talk to others is a waste of time. In fact, skipping this step would be an actual waste of time for everyone involved.
Make sure your communication tactics are up to par. This will change your business in ways you never expected.
