Becoming a real estate agent fulfills a dream for many people: you can finally own your own business. Still, the perks of owning one’s own business are frequently undermined by the responsibilities that come along with business ownership. If you got into real estate for flexibility and freedom, maybe you had a rude awakening when faced with what it can take to make profits happen.
If you don’t have the flexibility and freedom that you hoped for when you started into real estate, you might be more owned by your business than you are a business owner. This isn’t the way things have to be; you have options to increase your freedom and take your business back.
How’s your team?
A team doesn’t have to be a dozen agents all working together. If you hire an administrative assistant, you’ve started a team. A team can help lighten a heavy workload without sacrificing profitability. According to a study carried out by The Center For Generational Kinetics, 76% of real estate professionals say that belonging to a team increases their profits, with 85% saying that a team pushes them to greater sales results.
If you’re feeling owned by your business, learn to leverage a team for more productivity, higher profits, and more personal freedom and flexibility. As you develop a team of like-minded agents, admins, and other professionals, you’ll find a greater sense of balance and control over your life and business.
Are you using systems?
That same study found that only 56% of real estate professionals have systems in place for activities they do more than three times. This is far too few. Systems and processes make your business more agile, more standardized, and more efficient. They save you time and money and help replicate the things you feel you can’t teach others. Whether you’ve started a team yet or not, it’s passed the time for you to begin employing systems for repeated business tasks.
Your business doesn’t have to own you! Leverage the power of a team to get some freedom and flexibility back in your life, then employ systems and processes to ease your day-to-day grind, and you’ll find that being a business owner is more enjoyable than you might have imagined it would be. For more insights from the powerful study on teams referenced above, get your free copy at workmansuccess.com/teamstudy.
Verl Workman is the founder and CEO of Workman Success Systems, a real estate consulting company that specializes in performance coaching and building highly effective teams. Get free access to some of the very same tools and resources he has used to create success in his clients’ businesses.