You only have to search through the pages of the Field Guide to Opening a Real Estate Brokerage, from the National Association of Realtors, for ideas about how to run a Real Estate firm. NAR's advice is solid, but we’d like to add three tips of our own, which some small business owners might overlook.
Focus on the Work Environment
One of the most important aspects of running a successful business — small or large — is the work environment. Specifically, 94 percent of executives and 88 percent of employees believe a distinct workplace culture is important to business success, according to Deloitte.
The type of work environment you create will depend on several factors, including values, vision and goals. Bernice Ross, CEO of RealEstateCoach.com, makes bold statement and pushed the issue further:
Creating a supportive environment is at the heart of Real Estate sales success. Rid yourself of anyone who doesn’t support you to achieve your goals, or at least minimize your exposure to these people. While this process can be challenging, when you see the results you will agree that it was well worth it.
Focus on Expectations
To be successful, you must establish expectations for yourself as well as your employees. After all, how will you know you’ve reached your destination if you don’t know where you’re going?
Expectations help you and your employees focus on an anticipated outcome and create a work environment that allows for consistent performance, accountability of actions, and better communication.
Focus on Technology
Although we live in a highly technologically driven world, many small businesses sacrifice the benefits due to cost. Before you choose to retain worn-out systems and forego mobility, think again.
Maintaining older technology can be costly. Outdated solutions may be full of errors and redundancies ,and not get you the answers you need. Plus they can cost more time and money to maintain. New technology is less demanding and offers more options.