Delegating Transaction Management to Increase Efficiency

Century21_Affiliated_Delegating_Transaction_Management

By Liz Dominguez


Giving up some control over your business can seem like an overwhelming concept, especially if you haven't been in the industry for long. But giving up control doesn't have to mean losing control—it's all about balance. Delegating, even if you're a solo agent, can have myriad benefits for your business. Here's why finding a transaction coordinator or a service that helps take the load off your shoulders can make you more efficient:
 
Less day-to-day responsibilities. Your schedule is already packed. You've got time blocked off for lead generation calls, you're following up with leads and past clients, you're running around for appointments—there's simply not enough time to do every little thing yourself without sacrificing something.
 
More time to focus on what matters. Letting another professional take on the paperwork and transaction follow-ups will give you more time to focus on what really impacts your bottom line: getting leads and securing business. And delegating doesn't mean giving them absolute control over your transaction paperwork. You're simply transitioning to a supervisory role.
 
Fewer errors and misplaced information. If you're trying to do everything yourself, things will start falling through the cracks. You'll start to notice that you forgot to save some paperwork to a transaction folder, or you are behind on reminding your clients to shut off their utilities before their closing. These little things can add up, making your business extremely unorganized and ultimately affecting your profits.
 
There's help at all price points. If you're worried about the affordability aspect, think of it in terms of saving money because you'll be more organized and more efficient. And you can find help at all price levels. If you're doing really well, having an in-office assistant can be the best bet. If you're still working on getting those sales closed, however, there are much more affordable options, such as hiring a virtual assistant.
 
The most important thing to remember is that asking for help is not a weakness; it's a strength. In order to make your business as efficient as possible, you need to ensure that everything is getting done in a timely and organized manner, and it's not always possible to do that if you're taking everything on yourself. Take a breather, look at your systems and make an informed decision about what you'll keep on top of, and what would be more beneficial to delegate to someone else.
 
Liz Dominguez is RISMedia's senior editor. Email her your real estate news ideas at ldominguez@rismedia.com.   

Reprinted with permission from RISMedia. ©2020. All rights reserved.

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