Real estate systems - what makes a good one?

home-curve-01
May 24, 2011
3
min read

The system I've always needed and never had

In the last 15 years, I've been involved as an agent and a principal with nearly half a dozen agencies, spanning four franchise groups and a number of independents. In that time, I've seen principals grappling with how to make their real estate agency work using various real estate systems. One day I looked in the mirror and found that I was one of them. For most principals, this problem eventually comes down to how to keep on top of everything without compromising their sanity.I believe that this problem comes about because of a deficiency in real estate systems: many principals are former agents and have a solid grasp of sales, but a poor grasp of systems. Any good business must have a good system to assist, monitor and improve the work of their main producing asset(s). In real estate, that asset is the sales agent.What constitutes good real estate systems? - In my opinion, a successful business system in the real estate industry will have elements of each of the following factors:

The age-old "KISS" principle

Asystem must be simple enough that it can be learnt and implemented in a short time frame by someone that doesn't know anything about your industry. Simple doesn't mean limited - simple is about turning something that is "complex" or "mysterious", into a series of easy-to-follow steps - a process.

Mobility

Real estate agents are not deskbound. A real estate system must anticipate this and train agents to operate effectively outside of the office environment - away from managers and assistants. However, training is not enough - what is critical is to make the resources of the office available to the agent wherever they are - physical distance shouldn't matter.

Integration

Although the producing asset in any agency is the sales agent, the role of manager, administrative staff, PA's and office managers are critical. Often, principals have come from a position of being agents themselves - they perform well in a sales capacity, but aren't as educated on the back-office. A real estate system needs to ensure that the back-office assists and supports the work of the agent as efficiently as possible.

Empowerment

A system should make as many advanced or complex tools and techniques available to agents as possible but not if agents can't use them. Tools should not be used unless they are delivered in a way that empowers agents; they must be simple and accessible to agents, no matter their age group, experience or level of understanding. Without understanding, additional learning will only confuse an agent.

Leadership

Leaders must understand their agents; a system must allow managers to monitor, review and assess the performance of their agents. By understanding where agents are doing poorly or well, managers can use the benefit of experience to help, teach and improve their agents' performance.

Enjoyment

There's no reason why real estate shouldn't be fun. A system is fun when it's simple, and delivers results. Agents will use and marvel at your system if it's easy and delivers results. Ultimately, a system should, by encouraging universal success, foster a positive environment where agents can perform at their best.We built Rex because these principles weren't reflected in the market for Real Estate software. Rex is the package I've always needed and never had.Contact us to find out more.

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