Please wait as we prepare your PDF file ....

Mission Chronicle Blog

Search Blog

our goal is to help you stay informed by providing timely and interesting articles.

How to find the hidden potholes on the road to agent productivity

07/23/2018

Download PDF

It’s easy to get caught up in the lead rat race. After all, more leads = more revenue. However, that equation only holds true if your operations and processes can scale to meet the demand. And if those very processes that deliver your brokerage from lead to close don’t eat into your revenue with unseen, redundant technologies, inefficient processes and bulky workflows.

On the other hand, when you purposefully design your processes and introduce the right technology systems, you can not only handle more demand, you can accelerate the growth of your business.

Don’t just give your agents more leads. Give them more time.

The core focus of your brokerage operations is to maximize your agent productivity. And productivity is not just a measure of how many leads an agent can covert, but a culmination of factors over the course of their time at a brokerage.

How long does it take to hire and get an agent on-boarded? How efficiently can they push a transaction to close? How quickly are they compensated for their sales?

The time these processes take is valuable time — and money in your brokerage’s pocket and your agents’. To fully optimize each agent’s productivity, you need to examine and ultimately optimize your office processes. Here’s how

Perform a process audit and map your current workflow.

List all the documents, contracts, addendums, etc. that need to be completed over the course of the transaction. Identify everyone who is involved in each step of the process, even for one moment Interview these people and understand how long each step takes and why it takes that much time.

Once you have gathered all the necessary information, you’ll be able to identify bottlenecks in your workflow. You’ll see where time can be saved and efficiencies can be found. Then, you can move on to designing a more streamlined process.

Determine if a step in the process is required or nice-to-have. For example, a required process would be when a brokerage is mandated by law. A nice-to-have process is more a step that offers peace of mind or where the level of effort to do it is more burdensome than the benefit of doing the step. Uncover ways to decrease the time it takes to complete a step.For example, you might consider steps where data needs to be re-entered by an agent or transaction coordinator and build an integration to pull or push data between systems

Look for forms with commonly completed sections and create digital templates so the same document doesn’t need to be re-created in every transaction. Create standard digital task lists so agents will get more efficient with every transaction, and you can reduce your own need to follow up as your business grows. Explore technologies that can automate steps in the agent’s workflow and explore how to connect those technologies to reduce re-work. Gather feedback from those involved in the each step and modify if necessary.

Lastly, once you have re-designed your office processes, you’ll need to begin implementing your new processes and introducing any technology you’ve selected.

Hold a fun launch event to help everyone in the office understand the changes. Solicit feedback every two to four weeks to understand how people are adjusting. Make adjustments to the process or technologies based on the feedback and continue to communicate those changes to the entire office.

To find out more about how your brokerage can optimize their office processes and increase sales productivity, read DocuSign’s new white paper written by Geoffrey Moore – author of Crossing the Chasm here.

Source: click here

Read More

INSPIRED, INTELLIGENT, INSIGHTFULL

STAY INFORMED WITH TIMELY AND INTERESTING ARTICLES FROM OUR BLOG, MISSION CHRONICLE. OUR ASPIRATION IS TO PROVIDE REALTORS AND OTHER REAL ESTATE INDUSTRY PROFESSIONALS WITH EXCEPTIONAL RESOURCES AND SHARE OUR KNOWLEDGE TO PROPEL YOU TO YOUR GOALS.

  • Mission Chronicle Newsletter July 24, 2023

    Mortgage rates continued to press downward last week after the previous week's CPI data pointed to e...

  • Mission Chronicle Newsletter Feb 20, 2023

    Despite the recent downward trend in mortgage rates and hopes that the Fed was nearing the end of it...

  • Mission Chronicle Newsletter Feb 6, 2023

    The Federal Reserve meeting ended as market participants expected, with a quarter-point increase and...

  • Mission Chronicle Newsletter Dec 26, 2022

    Mortgage rates held relatively steady last week as most economic news came in better than expected.C...

  • Mission Chronicle Newsletter Dec 12, 2022

    Rates managed to move slightly downward last week as recession fears grew amid hopes that the Fedis ...

  • Mission Chronicle Newsletter Dec 5th 2022

    Mission Chronicle Newsletter Dec 5th 2022. Platforms: Browser, mobile-responsiveIdeal for: Leasing a...

  • Inman Review: Tenants and leasing teams get better connected with RentTango

    Have suggestions for products that you’d like to see reviewed by our real estate technology ex...

  • Tech Review: Smart Alto puts people first in its innovative lead qualification solution

    Have suggestions for products that you’d like to see reviewed by our real estate technology ex...

  • Refreshed and nurture-savvy, Market Leader’s CRM deserves your attention

    Have suggestions for products that you’d like to see reviewed by our real estate technology ex...

  • The top 4 tips to improve your negotiation skills

    In today’s luxury real estate market, strong negotiation skills are an asset—you might even say ...

November 2024
Mon Tue Wed Thu Fri Sat Sun
 123
45678910
11121314151617
18192021222324
252627282930  

  • Polls

    What information you are looking for?

    View Results

    Loading ... Loading ...
  • Last month Results

    How Is My Site?

    • Good (100%, 3 Votes)
    • Excellent (0%, 0 Votes)
    • Bad (0%, 0 Votes)
    • Can Be Improved (0%, 0 Votes)
    • No Comments (0%, 0 Votes)

    Total Voters: 3

    Vote

    Loading ... Loading ...