Real Estate Management: “Strive to Be a Better Boss

I don’t want a Boss who is my Friend; I want a Boss who preaches with the Example. 

The obligations involved in real estate management are taken as a league by too many sales managers and directors of real estate agencies. In other words, they don’t have what it takes to guide, motivate and direct the real estate agents in their charge.

When this happens, some sales managers instead of looking at themselves and wondering what they are not doing well and solving it; They look at the agents and consider that the best solution is a “personal talk”   with this or that one.

I have trained, motivated, supervised and organized many real estate agents over the past 12 years. From experience I know that 8 out of 10 will improve your sales with the right motivation and supervision. Many agents come to think that they are not succeeding due to external circumstances, such as the economy; a saturation in the market of new promotions or properties of 2nd occupation; or an excess of agencies or promoters in your area.

However, the reality is often different. The consequence of low sales usually lies in working within a wrong business model and / or a lack of adequate real estate management. That is to say; have a Sales Manager and a Manager who does not have the necessary skills to lead a team and does not care about having it.

Some directors of real estate agencies still believe that the solution to problems with their commercial team is to send them to a training or recycling course or do without them. Taking this path means that the best commercials end up leaving the agency.

Let us briefly see what are the skills that the person in charge of the management in a real estate agency must have, whether it is franchise or not.

Real Estate Management that Generates Sales and Benefits.

The success of a real estate agency is directly proportional to the ability of its managing director to lead its team of agents. Every manager must possess certain skills, knowledge and experience to motivate his business team.

Of all of them there are 4 skills that are not given the importance they deserve in real estate management courses.

1.- Be a good real estate seller. The director of a real estate agency must first have experience in real estate sales. Having captured him / her pampering properties of 2nd occupation. Having experienced the frustration of not having closed one sale and the satisfaction of having closed others.

You do not need to have been a star seller, (the star sellers generally do not want to have commercial teams in charge), but if you know the sales and real estate marketing techniques well like the sales team at Sky Marketing Islamabad, know the processes and have a joint vision of the business, to be able to pass it on to your subordinates.

Motivating commercial staff is impossible when you have not been in the situation you are experiencing who you want to motivate.

The best agency directors I know continue to sell real estate themselves. The goal of 1-2 buildings per month is marked depending on their workload. They continue to show their team how to sell and at the same time they are in contact with “the street” at all times. His approach is to motivate by setting an example, earning the respect of his team by showing them that his approach is appropriate.

2.- Be a good communicator. A good managing director should be a good communicator and know how to express his ideas clearly to his team; In addition to leading by example. Know how to express yourself well and know how to write well.

You must know how to write sales scripts for telemarketing , know how to write sales dossier, know how to write online ads; know how to argue when a home is shown; Know what to say and how to say it in any sales situation and know how to interpret the body language of customers.

Know how to describe a property; find its characteristics and benefits; Knowing how to write attractive text for promotional material is essential. Hopefully very soon the real estate management courses teach these communication skills so necessary to lead a team of commercials.

The sales manager must have the ability to pass on his knowledge to his subordinates and show them the sales process by his own example. Teach them to adapt the real estate sales techniques to the personality of each agent that makes up their team.

Good Real Estate Management Begins with the Selection of Personnel.

3.- Know how to select your sales team . A good director or sales manager should know how to hire his staff as observed in Blue World CityToday it is very important to demand degrees and 5 languages; as if this were already a guarantee that the right person is hired.

It does not take into account more important factors such as the attitude, initiative, creativity or personality of the person who responds to a sales vacancy. It is proven that the best real estate sellers do not have university studies. Why will it be?

There is also the sales manager who hires a real estate agent just because he has experience or has “sold real estate” with the competition.

Other mistakes made when hiring commercial staff is to offer them remuneration that is not in line with the demands of the position. You pay little and you pay badly.

Generally, paying little is influenced by the lack of the following skill that should be possessed by any person in charge of real estate management:

  1. – Know how to organize a real estate agency.

This last skill is fundamental in every manager or director and is responsible for 90% of an agency generating more or less benefits. It is necessary to create a business plan and within it a marketing and sales plan with very clear and attainable objectives. Also, a weekly schedule must be available for all commercial and agency personnel. Of course, you need to know how to implement that plan but the most important and laborious thing is to know how to create the business plan and the sales plan appropriate to your market and your situation. This is where the manager or director proves his worth.

A director must learn real estate management. It is not known to manage just for being a good seller. You have to be honest with yourself and learn what you don’t know, strive to be no longer a better boss, but to obtain the maximum profitability of a real estate business.

Being a boss or manager of a real estate agency is not easy. I know from experience. It took me quite a few months and I lost good commercials along the way. And from my experience I know perfectly well what are the reasons why there is so much turnover in this sector.

If you are in charge of a commercial team, my recommendation, if you allow me, is that before considering what you should improve in a member of your team, consider how you can improve so that this team member and the rest feel motivated and reach the goals you have set for yourself I would start by acquiring more knowledge on how to select the right staff. A human resources plan is necessary within any business plan that boasts and always precedes any marketing plan.

Personal selection is not always successful, but you avoid hiring many wrong people if you have a well-defined human resources plan