Real Estate Business Success through Transitions and Six Tips How
Real Estate business success can come with a few deals, but to sustain the business success, we MUST have a strong foundation.
Does your real estate business have a plan to ensure business continuity?
Having a business continuity plan is critical to the ongoing success of all real estate related businesses from real estate investment companies to brokerages, especially as we are fast heading into hurricane season again with expectations of an extremely active year, with some local price constrictions.
Whether you are a real estate investor or broker, being prepared is about far more than protecting individual properties or listings. Outside of internet presence, the biggest threat is the interruption of income.
Fortunately, you are reading this because you value real business education, growth strategy & planning. With that in mind and free technology, you can defend your income and wealth from virtually any disaster or drought.
Thanks for reading
Here are six tips for ensuring business continuity for real estate professionals, agents and investors:
- Diversify where you invest, engage multiple markets. (Partner & JV in markets you are familiar with)
- Diversify who is on your team and where they best fit. (People are the essential part of any business)
- Have cash reserves. (And not all in the same vehicle)
- Utilize cloud storage for all files, leads lists, and other data. (Google Drive is AWESOME, but have hard backups)
- Use flexible phone systems. (Think Skype & Google Voice – **we use 8×8)
- Choose partners and vendors that adopt similar safeguards. (As you’ll need them to be able to continue to move your deals through to closing)
In addition to this list, make sure you have phone numbers for attorneys, insurance companies and other important contacts in your emergency kit.
What action can you take right now? Whether you just moved, just started or want to ramp it up, you have to remind everyone you know that you are active and ready to serve. Whatever that that means for you. “Hey, just so you know I am still helping people with insurance, real estate, finances, writing, yoga, reading, fitness whatever you do – tell someone. ASAP! Text, iMessage, SMS, phone, social media outlets, in the mail, and of course in your blog. At this point, you aren’t worried about competition, branding, sales pitch or motive. You want to remind anyone and everyone that you provide your service, and you deliver it well. Complete the reminders and work on these six tips, you will see your business scale and streamline in rhythm. Have tested plan, stay prepared and you can succeed no matter what is thrown at you!
Thanks for reading and as always let me know your thoughts on the topic, or maybe a topic you would us discuss. Have a great day!
TLP