Whether you’re celebrating the end of 2020 or the beginning of 2021, now is the time to take a look at the last year and assess what you’ve learned.
During COVID, we’ve all had so many opportunities to change, pivot and learn. So, there’s no better time to look at processes and systems we need to a) get rid of, b) modify or c) add.
Let’s start by reviewing the processes and systems in your day-to-day business operations, including (but not limited to): lead generation, working with buyers, pre-marketing/coming soon processes, communications processes between agents and sellers, workflows, pop by’s, follow up calls, asking for testimonials, etc.
How have you adapted during COVID?
There are always ways to improve your ongoing relationship with past buyers and sellers. After all, most of your business is from past clients or referral! You’ve worked hard to develop these relationships, so it’s important to continue to nurture them (but in a socially distanced way).
Sending emails or postcards isn’t enough! Sure, that will help keep you top of mind, but you need to have two to three personal interactions with your database annually – either where they reach out to you, or you to them.
Over the holidays, many of you do “pie events” or “pumpkin pie events.” These are a great way to rekindle your relationship. Make it personal and ensure that you have five touches for every event (if not more). For example:
1. Save the date
2. RSVP
3. Call to acknowledge RSVP or to ensure they got the invite, if no response.
4. Actual event
5. Follow-up after the event; survey or thanks for coming, etc.
Why? Improving your back-office processes can help address key challenges that teams are facing today: low inventory, managing online leads, delayed cash flow, team motivation, staying connected and routine follow-ups with past clients.
What untapped opportunities could be produced by improving back-office procedures?
Ask your support staff for their input. For example, you can:
1. Create a user’s manual that lists all of your processes in one place.
2. Take inventory of the platforms and services you currently pay for.
3. Does the application/system continue to be useful?
4. Do you still use it – and frequently?
5. What’s the cost per month/year?
6. Can you live without it?
7. Review where most of your leads come from, and which platforms are most valuable to you.
8. Get your team to list out the most frequently asked questions and write a blog to answer each topic.
9. Conduct a “needs analysis” with each of your team members. What are their strengths and weaknesses? Zap the gap by providing online training.
10. As I mentioned in my previous blog, you should perform an audit of your team. Are they delivering the product, service or customer service the way you want it delivered?
1. Start by knowing the keys to overcoming back-office challenges, and how these challenges impact cash flow and remarketing.
For example, is your support staff struggling to obtain the necessary details to make a listing go live – or worse – declare a listing sold? It’s time to tell your agents to go above and beyond. Tell a better, engaging story for support staff so they can create knockout listing descriptions.
2. Understand ways to overcome back-office backlogs caused by staffing limitations.
3. Discover slowdowns in deal completion. Speed is everything!
4. Most importantly: focus on the endgame. Having clarity of the processes and actions in your business makes for smoother operations, and having the discipline to follow the processes ensures success!
Want more clarity in 2021? Bill can help. He works with top producing agents across North America to ensure that they have the discipline it takes to be successful. Contact him today.
Bill Renaud
Real Estate Business Coach at Renaud Coaching + Consulting
Continue the conversation with him here.
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