In this article, we'll share the benefits of technology and ways you can integrate to scale your real estate business.

After offering real estate websites to agents for years, there are a few complaints that we hear more often than others. This is typically due to misconceptions or assumptions. We are hear to clear all that up.

Imagine your client flow doubles overnight. Would your current infrastructure and systems support this influx of new business? Probably not. For the same reason you wouldn’t try to fit 100 people into a 10-person boat, your real estate business can’t handle that many clients. If your business can’t handle an increase in business, the infrastructure and systems need to be upgraded so they have the capacity and infrastructure to manage all the new clients you will generate as you scale your business.

In the first two sections of this Scaling Your Real Estate Business series, we’ve discussed ways to evaluate your real estate business for growth opportunities and strategies to generate funding to finance your scaling venture. Using the tools and guides from these articles, you can calculate the amount of leads, transactions, and budget needed to hit your specified Gross Commission Income (GCI) goals.

In this article, we’ll share advice on ways to establish a stable infrastructure for your real estate business to support the increase of lead generation, nurturing, and ultimately, the scaling of your business.

Being a real estate agent requires that you be social at almost every opportunity you are around people. However, what if you are not around people? What are you to do if there is nobody around? With social media you can casually converse with your community - but most of them won’t be ready to buy or sell. Instead, you must commit to building yourself an e-mail list.

When it comes to scaling your real estate business, you must spend money to make more money. The amount of money needed to finance your scaling venture will depend on your plans, strategies, and goals. Scaling expenses you will consider financing include costs like purchasing new software that can manage your growth, staff to run non-related real estate tasks like accounting, or a new building to house your real estate business. With a little research and calculations, you can forecast your business expenses to help you reduce risk by investors and procure the necessary funds to cover those costs.

In this article, I will share strategies for acquiring funding to finance your scaling venture for your real estate business:

1. Yourself (Bootstrapping)
2. Family, Relatives, and Friends
3. Lenders

There are plenty of things that buyers and sellers do that can easily be annoying for real estate agents. Did you ever stop and think about what buyers and sellers might find annoying about YOU? There are a few things that real estate agents do that leave a foul taste in their clients’ mouths - that you may want to avoid.

Aren’t you tired of being too busy? You might be overextending yourself by working 12-hour days and performing every aspect of running a real estate business - while squeezing in time with family. It might feel like you’re drowning in work, barely keeping your head above water. Since you’re spreading yourself too thin, you might provide a poor experience for your clients, since you’re unable to give them the time and attention they deserve. Don’t they deserve the best?

Plus, businesses are reopening and yours might be experiencing a flood of buyers as if a dam burst. If your market hasn’t experienced an increase in sales, it will as consumers regain spending confidence. According to a HousingWire article, “U.S. Pending home sales surged a record 44% in May.” We should see similar increases as summer progresses, which means your flood of work is only to rise.

But hey, it’s better to drown in work than to have no work at all, right? True, but you can have a heavy workload without feeling like you’re drowning, and you don’t have to sacrifice your personal life or your family to succeed as a real estate professional. You can have it all, just work smarter.

If you’re drowning in work, can’t give your clients the attention they deserve, and can’t find free time for yourself or your family, that’s a good indicator it’s time to scale your real estate business. Why? By scaling your business, you can reassess your processes and create the infrastructure necessary to properly manage and facilitate its growth. If you scale successfully, you’ll increase your income, have more time for clients, family, or yourself, exert less energy on less important tasks, and ultimately increase your market share in your area.

In this article, I will share ways to evaluate your business, provide tools to help you forecast and project your real estate business’s growth, and offer tips for planning for the future:

1. How to Forecast Your Real Estate Business’s Annual Sales Growth
2. How to Forecast Your Real Estate Business's Expenses 
3. How to Forecast Your Real Estate Business’s Profits
4. Download the Sales Growth, Expenses and Profits Forecast Calculator to help you forecast sales growth and revenue over 5 years >>>

As a busy real estate agent, having good time management is necessary in order to be successful. While sticking to a routine is highly important, what is more important is being able to have a flexible schedule because as you know, anything can change at the drop of a hat.

Table of Contents

1. Create daily to do lists
2. Use a calendar
3. Batching
4. Time-blocking

Real estate is all about building personal connections, and those relationships you create today are the commissions you earn tomorrow. So then, why should you NOT use your personal Facebook profile for real estate?

As a real estate agent, making a mistake can lead to legal trouble if you aren’t careful. Being an agent requires you to keep track of sensitive client information and meet deadlines for those clients without letting anything slip through the cracks. Even the slightest mistake can cost you your career. While accidents are inevitable, it is important to know what real estate mistakes you should try to avoid.

Table of Contents:

1. Failing to disclose a defect
2. Misleading
3. Breach of contract
4. Bodily injury
5. Selling in unfamiliar territory