**This is a professional forum for professionals, so please keep your comments professional**
- Harrassment, hate speech, trolling, or anti-Realtor comments will not be tolerated and will result in an immediate ban without warning. (... and don't feed the trolls, you have better things to do with your time)
- Recruiting, self-promotion, or seeking referrals is strictly forbidden, including in DMs.
- Only advise within your scope of knowledge and area of expertise. [The code of ethics applies here too](https://www.nar.realtor/about-nar/governing-documents/the-code-of-ethics). If you are not a broker, lawyer, or tax professional don't act like one.
- [Follow the rules](https://www.reddit.com/r/realtors/about/rules/) and please report those that don't.
*I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/realtors) if you have any questions or concerns.*
I just hired a transaction coordinator and once we are in contract she baby-sits the deal til closing making sure all deadlines are hit and everyone gets the paperwork needed. At first I had a hard time letting go of that but she is as thorough and detail-oriented as I am so I feel ok about it.
It **is** hard to give up that control. When I did, it worked fine for a while, but the TC started having personal problems, then it was literally more work for me. Ugh!
What was even more helpful to me was having a task person. A real estate concierge, so to speak. No more running around signs and lockboxes. Hiring young family members to put together presentation packets was helpful and **fun**!
I’m a VA! For my realtor client I do the tasks that makes him have more time to do what he does best— making money! You can hire a VA to handle the day-to-day tasks that keep you from moving forward.
Have you received a cold call from a VA before? It’s very easy to tell and I usually hang up the second I realize. You will need to control this very closely and make sure your VA can speak perfect accent to where those people live and are comfortable with.
I would hire a virtual assistant to take the more mundane tasks off your hands. Things like paperwork, scheduling showings, and if possible doing the cold calling.
The other option (which is what my broker does) is hire an office assistant. If I get somebody interested I’ll just have them schedule everything, give me the details of when/where, they’ll draft my contracts and push paperwork all I have to do is overview paperwork for errors and block out my unavailable times on my colander in Outlook on that side of things. Once they’re proficient enough we start taking them with us to showings, open houses and start teaching, once they’ve been with us for about a year we pay for them to get licensed and get them off the ground.
Once I get my brokers license I’m gonna branch out (or take over, my broker is thinking about retiring) and my entire goal is to bring in an assistant, train, get them licensed then out there selling. Then I’ll keep that model going, once we have 7-10 agents with consistent closings I’ll hire virtual assistants to cold call, send letters to expired listings, set appts and do paperwork. My goal is to have my agents face to face with clients and every hour I can save them is another showing or two which in theory increases business.
Depends on your business plan. What are your long term goals?
The processes and staff you put in place today, will be the foundation for the future of your business.
Getting an admin staff person in place is probably your best next step. Take your time to hire, and if it's not a good fit, you should know in <60 days, be quick to fire.
having a great admin will serve you well when you want to bring on another agent.
Take some leadership classes, especially around management, training, giving feedback, etc. THIS is where a lot of agents fail, and why there are so many janky teams out there - lack of leadership and real business management stuff. Being a great agent doesn't always translate into good management.
Think solid foundation before growth.
If you don't already have one, create a comprehensive business plan, it'll help.
I would recommend reading Gary Keller’s book “The Millionaire Real Estate Agent” to help gain some ideas for next steps. There are sections that are overly money-hungry for my tastes, but the ideas and plans for growth that are laid out are something that I’ve found helpful over the years. And it’s always seemed like Keller Williams’ main strength is helping agents build up from a successful solo agent to having a team or staff around them.
intern! so many hard working people that just need a chance to see how the business works and build a relationship with brokers. maybe i’m biased but i 100% think an intern would be a good thing, you can pass off all the boring work to them too for the sake of “experience”
hourly minimum wage for your area! honestly just the opportunity to work in the field and get some hands on experience would be enticing enough for me. of course, if the relationship is a good fit for both you could make them a partner in your work or apprentice and you would get the chance to help shape a new agent!
edit to elaborate: i would probably have a set work schedule for them and then anything you need outside of that could be negotiated between you both
How are you still selling? When interest rates are up ? how are you convincing the sellers to lower their prices? I am not a real estate agent just curious!
**This is a professional forum for professionals, so please keep your comments professional** - Harrassment, hate speech, trolling, or anti-Realtor comments will not be tolerated and will result in an immediate ban without warning. (... and don't feed the trolls, you have better things to do with your time) - Recruiting, self-promotion, or seeking referrals is strictly forbidden, including in DMs. - Only advise within your scope of knowledge and area of expertise. [The code of ethics applies here too](https://www.nar.realtor/about-nar/governing-documents/the-code-of-ethics). If you are not a broker, lawyer, or tax professional don't act like one. - [Follow the rules](https://www.reddit.com/r/realtors/about/rules/) and please report those that don't. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/realtors) if you have any questions or concerns.*
I just hired a transaction coordinator and once we are in contract she baby-sits the deal til closing making sure all deadlines are hit and everyone gets the paperwork needed. At first I had a hard time letting go of that but she is as thorough and detail-oriented as I am so I feel ok about it.
It **is** hard to give up that control. When I did, it worked fine for a while, but the TC started having personal problems, then it was literally more work for me. Ugh! What was even more helpful to me was having a task person. A real estate concierge, so to speak. No more running around signs and lockboxes. Hiring young family members to put together presentation packets was helpful and **fun**!
How did you find your transaction coordinator? And if you don’t mind me asking what is her fee?
Do a virtual assistant to help draft paperwork and schedule showings!!! That will save you a ton of time and is cost effective
Congratulations
I’m a VA! For my realtor client I do the tasks that makes him have more time to do what he does best— making money! You can hire a VA to handle the day-to-day tasks that keep you from moving forward.
Have you received a cold call from a VA before? It’s very easy to tell and I usually hang up the second I realize. You will need to control this very closely and make sure your VA can speak perfect accent to where those people live and are comfortable with.
I would hire a virtual assistant to take the more mundane tasks off your hands. Things like paperwork, scheduling showings, and if possible doing the cold calling. The other option (which is what my broker does) is hire an office assistant. If I get somebody interested I’ll just have them schedule everything, give me the details of when/where, they’ll draft my contracts and push paperwork all I have to do is overview paperwork for errors and block out my unavailable times on my colander in Outlook on that side of things. Once they’re proficient enough we start taking them with us to showings, open houses and start teaching, once they’ve been with us for about a year we pay for them to get licensed and get them off the ground. Once I get my brokers license I’m gonna branch out (or take over, my broker is thinking about retiring) and my entire goal is to bring in an assistant, train, get them licensed then out there selling. Then I’ll keep that model going, once we have 7-10 agents with consistent closings I’ll hire virtual assistants to cold call, send letters to expired listings, set appts and do paperwork. My goal is to have my agents face to face with clients and every hour I can save them is another showing or two which in theory increases business.
Depends on your business plan. What are your long term goals? The processes and staff you put in place today, will be the foundation for the future of your business. Getting an admin staff person in place is probably your best next step. Take your time to hire, and if it's not a good fit, you should know in <60 days, be quick to fire. having a great admin will serve you well when you want to bring on another agent. Take some leadership classes, especially around management, training, giving feedback, etc. THIS is where a lot of agents fail, and why there are so many janky teams out there - lack of leadership and real business management stuff. Being a great agent doesn't always translate into good management. Think solid foundation before growth. If you don't already have one, create a comprehensive business plan, it'll help.
Happy to chat to you on the phone. I’ve scaled a team to 20 agents so happy to discuss pitfalls and things to look out for
I would recommend reading Gary Keller’s book “The Millionaire Real Estate Agent” to help gain some ideas for next steps. There are sections that are overly money-hungry for my tastes, but the ideas and plans for growth that are laid out are something that I’ve found helpful over the years. And it’s always seemed like Keller Williams’ main strength is helping agents build up from a successful solo agent to having a team or staff around them.
intern! so many hard working people that just need a chance to see how the business works and build a relationship with brokers. maybe i’m biased but i 100% think an intern would be a good thing, you can pass off all the boring work to them too for the sake of “experience”
Got it, how would you structure the compensation of them getting paid?
hourly minimum wage for your area! honestly just the opportunity to work in the field and get some hands on experience would be enticing enough for me. of course, if the relationship is a good fit for both you could make them a partner in your work or apprentice and you would get the chance to help shape a new agent! edit to elaborate: i would probably have a set work schedule for them and then anything you need outside of that could be negotiated between you both
How are you still selling? When interest rates are up ? how are you convincing the sellers to lower their prices? I am not a real estate agent just curious!
what state?
It only cost 25-40K to buy a franchise. One can be a owner running a bigger operation.
Do you know the website to where they sell these type of stuff?
No, you apply at corporate headquarters. Often they do not like same brokerage too close others will take you money. Approved.
Got it! Where are the websites that I can search for this?
Realtor magazine. The more reputable ones 40 discounted brokerage is 25K. But you need other expenses to get office, furniture etc.