Improve Efficiency and Profit in Your Real Estate Agency
So your agency is up and running. You’ve got a team of real estate professionals selling and managing property. But you’re missing the x-factor, and business is slow.
What can you do to increase efficiency, and put your competitors on the back foot?
- Bring your website up to scratch. Make sure you and your team members are up to the mark on data analytics, tracking the volume and focus of your web traffic. “More and more marketing budget is being deployed online, meaning sales and marketing staff need to be across online campaign and website performance,” says UXC Eclipse digital marketing manager Darren Harper. With nearly all real estate purchases now beginning with an online search, “It’s crucial to understand how prospects are interacting with online campaigns and how they can be improved.”
- Software upgrade. Is your computer system keeping up with your needs? Several specialised software packages cater for the demands of the property market, and it’s worth checking them out.
Phone and technology solutions
It’s not much good having lots of people calling your office if they find it unattended. Assume they’ll leave a voicemail? Almost two-thirds of them won’t, according to a recent survey by j2 Global. Call Distribution and Time Routing are your minimum requirements here, allowing you to redirect calls to colleagues or a mobile at times specified by you. Call Forwarding and Voice-to-Email are further options to explore.
- Get a 1300 or 1800 number for your business. This is a cost-effective way of giving your business a professional image, and both numbers can answered on any phone of your choice. The caller pays a standard fee for calling 1300 numbers, while calls to 1800 numbers are free call or toll free.
- Grab a Smart Number. Stand out from the crowd. Get a 13, 1300 or 1800 number translated into phone words or numbers with recurring patterns which are easy to remember. So every time a client rings your company number, they are dialing your company name too. A great reinforcement of brand! Smart Numbers can increase response rates to your advertising and marketing campaigns.
Work culture solutions
The key to building an effective team and increasing work efficiency lies in a company’s work culture, according to the Real Estate Institute of NSW. The REINSW suggests:
- Education and training. Provide opportunities for staff to train and progress within the company. Promote internally and develop junior staff skills. Invest in weekly seminars or webinars; offer structured courses; and encourage senior staff to take on mentorships where possible.
- Communication. As owner, don’t keep yourself separate from staff. Be open to suggestions and team building opportunities. Have regular staff meetings and always keep the lines of communication open. Play an active and supportive part in your office.
- Clever recruitment. Think carefully when employing new staff. Will they be a good fit for your company? Do they reflect your company’s aspirations? Does this agent have the right personality to get along with the rest of the team? Attitude is everything, and often makes up for lesser experience or skills.
- The magic ingredients. There’s no single key in building a great office culture. But clear expectations, compassion, respect and a genuine passion for the real estate industry are all important components.
One thing’s for sure. You need to shine a light into every aspect of your business, and be open to the new ideas, software and processes that can truly make running your business easier and more efficient.