Is Real Estate Running Your Life?

is-real-estate-running-your-lifeRunning a successful brokerage is a lot of work. Working full-time as a real estate professional, how often do you go home for a meal? How many baseball games or dance recitals have you missed? Too many to count? Year after year, the real estate industry is at the top of the list of most stressful jobs. All because of the long hours, limited staff and demanding market. As a real estate professional, you may have had to juggle multiple tasks simultaneously, which may affect your stress levels. At times, it may feel like real estate is running your life.

We’ve put together a list of some of the most common pain-points in the real estate industry and how to overcome them. Check it out!

1. Shortage of Time

Every real estate professional faces the challenge of managing time. How often do you leave home at wee hours of the morning and come home after the kids have been tucked into bed? How many weekends have you been away managing an open house? Very often, Right? You need to take control of your time and plan better to minimize the overtime you put in.

2. Complex Transactions

When it comes to buying or selling a house, it involves large funds and complex transactions. You deal with transferring funds back and forth into Escrow/ Trust Accounts. Manage Commissions and Referral Cheques, EFT’s to name a few. It can be stressful making sure you don’t slip and make a mistake. Click here to know more about an accounting software which simplifies Complex Financial Transactions.

3.Back and Front Office Management

Managing back and front office is always a challenge for any brokerage. It is very intimidating for an administrator to take care of transactions, expenses, data and manage front office! With never ending chaos of calls, papers and documents, give your administrators tools to make your transactions seamless.

4.Agent Profitability

Having skilled agents will help put your brokerage on the real estate map. But the real question is, are your agents really making you money? You would think by knowing how much commission the agent makes that you would be able tell if they are profitable. But, that would be guess work. Click here to know more about a tool which will helps to gain real insight into your business.

5.Billing

Running any business means bills! You need to pay some and you will issue some. It’s hard keeping track of everything especially if you have many agents and many affiliate businesses. Wouldn’t it be wonderful to have a tool which manages recurring bills and receivable automatically every month? Click here to know more.

Take a good look at the list above and plan to overcome every hurdle and start running real estate.

Annapoorna Shanbhag

Annapoorna Shanbhag

Annapoorna is the Digital Marketing Coordinator at Lone Wolf Real Estate Technologies. Outside of work, Annapoorna likes baking, travelling and reading.
Annapoorna Shanbhag

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  • Running a business, no matter the field of work can be time consuming.
    Running a
    successful brokerage, well that can be overwhelming. Your list is very
    useful.