Systems will provide you the freedom for focusing on listings.
As you build your inventory by focusing on listings, you will need to create repeatable processes. There are several phases of the process that will require you to have a system.
- Lead generation
- Seller consultation
- Listing process
- Presenting Offers
- Closing
A system can be as easy as a checklist or spreadsheet to ensure you are always following the same process. It doesn’t need to be complicated. If you aren’t sure how to automate your systems, check out this blog post from The Real Estate Trainer.
Let’s take a look at some systems to consider so you can continue focusing on listings effortlessly.
Lead Generation Systems
The first system you should have in place is a CRM or Client Relationship Management tool. You will need to keep your database somewhere, and a good CRM can also automate some of your client contacts throughout the year. If your CRM does not have an email function, you may want to look into an email system. You can use some email management systems for free based on the size of your database.
You will also need a system to manage your referrals. You can receive referrals from friends, family, and past clients. You may have a system to track and share a little thank you with them. You may also receive referrals from agents outside your area or refer a client to an agent outside your area. Either type of referral will require touching base with the other agent and keeping them informed of the progression of the transaction. You also want to make sure referral fees are sent and received promptly.
Seller Consultation
How should you prepare for a listing appointment? Most listing agents have a seller’s package that provides the seller with information to help them prepare their home, understand your marketing strategy, and outline the steps in the selling process.
You will also need to have a system to prepare a Comparative Market Analysis. You should outline the criteria you use for every CMA to prepare consistent evaluations for all your clients for a repeatable process as you are focusing on listings.
Listing Process
Prepare a checklist of all the paperwork you will need to prepare for the seller’s signature. It is easier to spend time upfront getting all the documents required by your broker prepared and signed, so you are not chasing documents later to get paid.
You should also have a system for what you do after the contracts are signed—the steps you need to follow or turn the file over to your listing coordination specialist.
Other systems you may need to have in place are staging or virtual staging, photography and videography, marketing, and planning a successful open house.
Presenting Offers
Create a plan for how you will handle offers. You will also need to have a plan for the possibility of multiple offers. Explain your process with your seller during your initial consultation. Consider how and when you will contact them. Will you email a copy of the offer and supporting documents or use your contract management system, or will you meet with them in person? How will you handle negotiations and communication with the other agent? Don’t wing it, have a process, so you do not overlook anything.
Closing
There are many steps in the closing process. For example, the seller may have to handle municipality inspections or other requirements. Create a checklist of the typical steps in a real estate closing for your area. Then follow the list. There is no worse feeling than waking up in the middle of the night wondering if you did something for one of your closings.
Systems do not need to be complicated. However, you do need to document them so that you can consistently service your clients. And also get a good night’s sleep.
Virtual Professional Solutions can help take some of your to-dos off your list when you are focusing on listings with listing coordination, social media, and blog posts. Schedule a free 20-Minute discovery call to explore our various packages and find which one is right for you.
