Many real estate business owners finally have the time to slow down, take a break and focus on working ‘on’ their agency instead of ‘in’ it. 

If there was one word to describe almost every real estate agent, it would be ‘BUSY’. Between clients, open homes, valuations and auction preparations, there is very little time to relax or focus on improving the day to day operation of their agency.

However, the COVID-19 outbreak has put many vendors’ plans on hold. While this isn’t so great financially, it does give you as a real estate agent the chance to do some work ‘on’ your business instead of always trying to keep up with clients and their endless stream of requests. 

There has never been a better time to tick off your to-do list and get your Agency match-fit behind the scenes. If you take advantage of the current conditions, you’ll come out stronger than ever.

Here are five things you can do, starting now, to improve your agency’s sustainability. 

1. Update your online presence

How is your website, your social media presence and content marketing? Do you have a strategy to communicate with past clients and landlords regularly? Have you set up an automated system which keeps in touch with people and reminds them why you’re the best in the business?

You and your team should sit down and review your website, blogs and other promotional strategies. Enlist the help of a consultant if necessary to get things moving quickly. 

Now is an excellent time to upgrade your website so it attracts more traffic from Google. You can also plan a series of a dozen or so evergreen blog posts and work on setting an automated email strategy if you don’t have one already. This will keep working behind the scenes for you, even when you’re flat out, so your leads never die off. 

1. Get your paperwork in order

Is your admin in a tangle? Are documents everywhere and is there a lack of consistency with client onboarding or record keeping? It is easy for things to end up this way when everybody is flat out but it can set you up for a fall. 

Call your solicitor and review all your contracts and Agency Authorities. You may realise there is a lawsuit just waiting to happen because of out of date paperwork. This is also a great time to update old documents and create contract checklists for your staff to use. Doing so will make sure things don’t fall through the cracks. 

And speaking of paperwork, it shouldn’t really be paper. There are so many excellent and secure solutions for going online and allowing for digital signatures and storage which will save you and your clients time and money. 

1. Investigate remote work solutions

Many real estate companies offer streamlined procedures and flexible working arrangements, with some even giving up the traditional high street shop front and operating from home offices. 

If your office has been empty during COVID-19 but you feel like things are running smoothly, it could be a good time to investigate this as a permanent arrangement. Co-working spaces are the new norm for a lot of companies and you could book a regular meeting room in one of these to get together with staff and clients when you need to. 

Technology is important too. Put channels in place which allow for instant messaging, document sharing and video conferencing. Once everybody has the hang of the new systems, it will feel like business as usual and you may be surprised at how productivity improves.

Of course, working remotely is not for everyone. You may wish to keep your office but introduce some level of flexibility based on how things worked during the COVID-19 outbreak.  

4. Train your team

Stopping to put training in place can feel like taking quite a few steps backwards. However, it can result in rapid acceleration. 

Put together training documents and processes for everything your team does regularly and upload them to a password-protected intranet. This will make it faster to complete tasks and easier to onboard new staff. A platform like Google Sites is ideal to use as an intranet. 

You may also wish to invest in some ‘soft skill’ training, delivered virtually of course. Topics can include communication, sales techniques, mindset and time management. 

5. Become a thought leader

Thought leadership isn’t about being the absolute best in your industry. It’s about sharing your perspective and insights. 

By putting yourself out there and making videos, speaking to the press and sharing topical blogs, you are setting yourself apart as an industry expert. It gets you noticed and makes it clear to people you are someone worth speaking to.

During COVID-19, buyers, sellers and investors are looking for advice and reassurance. You may want to put together a webinar or a special series of blogs to offer to your contacts for free. Talk them through your perspective on what’s happening and remind them your agency is here to help, no matter what. 

Think of this virus outbreak as an opportunity to find new ways for your business to grow. Be the voice of sanity and reason, go the extra mile for your clients and they will remember you for many years to come. 

BDH Solutions are rent-roll agents with over 30 years experience in connecting the right vendor with the right purchaser. Download our information booklet on the new Victorian Minimum Living Standards Legislation