Agents of BP, what are your best tips for automation/delegation to scale?

Question

I'm very curious about successful strategies for scaling a real estate sales business. Share yours below!

Andrew Freed · Answer

I'd be happy to list a bunch for you: - Google email templates - you can create templates like introduction email, offer email, P and S email and just switch out the applicable parties. It saves you a ton of time typing. - Screencastify - You can record yourself doing actions and delegate those tasks to VAs. Some low hanging fruit like sending clients MLS information, social media, bookkeeping etc. - Transactions Coordinator - I have to admit, I am not doing this right now, but I've come to the realization that I spend a ton of my time on low dollar per hour tasks once a deal gets under contract. It'd be better for me to pay someone $300-400 dollars to handle all the paperwork, amendments, follow up etc and I can focus on the higher per dollar tasks. I hope this helps!

Antonette El Baz · Answer

If you'd like an accountant perspective, I can offer the following tips for automation and delegation to scale a real estate sales business: Implement cloud-based accounting software: This will help streamline your financial operations and reduce the time spent on manual tasks. Cloud-based accounting software like QuickBooks Online can automate tasks such as invoicing, expense tracking, and reporting, freeing up time for more strategic activities.Utilize virtual assistants: Consider hiring virtual assistants to handle tasks such as lead generation, appointment scheduling, and follow-up. This will help you focus on high-value activities, such as closing deals and building relationships with clients.Automate your marketing and lead generation efforts: Use tools such as email marketing software and social media automation tools to reach a wider audience and generate leads more efficiently.Outsource non-core functions: Consider outsourcing tasks such as payroll and tax preparation to a specialist. This will help you save time and resources, allowing you to focus on growing your business.Utilize technology to automate lead tracking and communication: Tools such as customer relationship management (CRM) software can help you keep track of leads and automate your communication with them, freeing up time to focus on other aspects of your business. By automating and delegating tasks, you can streamline your operations and increase efficiency, allowing you to focus on high-value activities that drive growth and scale.

Bruce Lynn · Answer

Hire an admin to do all the time suck things.....marketing, data input, data cleanup, things like that....that are low paid activities....even sign installation/pickup...lockbox install...key copies....etc.....even if you can start with a student or VA at $10 or less an hour for 10-15 hours a week will help you. Gary Keller says your first two hires should be assistances.....based on research.....not buyer's agents.Transaction coordinator.Pay someone else to show your clients if that works for you.I see you are at Redfin, so they've engineered some of that stuff. Copy the models there that work.I'd read two books. #1 Millionaire Real Estate Agent....old but good.....#2 The One Thing.....very very important book.

Benjamin Carver · Answer

These are great thanks! Transaction coordinators are huge help at Redfin. Same with text and email templates. The screencasting idea is gamechanger I think

Nicole Heasley Beitenman · Answer

Not a realtor but lender, so utilizing similar strategies. A good CRM that will not only automate e-mail and text campaigns but will also remind you of client birthdays and closing anniversaries.

Brett Deas · Answer

Ultimate way, build a team. Have showing agents and transaction coordinators. TC's can cover your escrow duties, showing agents free up your time when working with buyers. Yes it costs money but it is a tried and true method of scaling.

Jeff Weaver · Answer

@Benjamin CarverHi - I help run a software company with about 500 real estate professionals as partners.We use AI tools and automation to help nurture leads by automating things like emails, scheduling, texts and more. We also help those wanting to scale by generating leads through AI powered copywriting tools to help compose compelling email templates, text templates, ads and campaigns. Our CRM is compatible with all other CRM platforms as well. All of these tools have helped our partners to save time, money, and to be able to focus on scaling

Marian Huish · Answer

@Benjamin Carver you can do it the hard way by building & managing a team, spending tons on offices, technology & training or you can partner with #eXpRealty…. Hands down the ￼￼smartest way to scale your business. ￼ eXp provides all that you need to grow and scale your business. and, as it has low overhead (virtual) and is much more than a real estate company, it is publicly-traded and is the most sustainable real estate business model out there. I’ve been able to grow my business by building a network of 35 agents across 12 states without buying technology, training agents or opening offices. Undeniable!

Benjamin Carver · Answer

So much value in this. Thanks!

Craig Garrow · Answer

Great thread. This is something I absolutely need help with!