Outline for Real Estate Operations
This is a step-by-step fundamenThe key to operating a real estate business is having a firm system in place to keep you on track and prevent you from becoming overwhelmed or, worse, overlooking critical details that might cost you money or diminish your professional credibility. The first area of business would be to hire the right assistants that can ensure day-to-day business activities are handled in a more effective and time efficient manner:
? Look for ideal office space- ensure that you find a location that you and your staff will enjoy for years to com.
? Develop a communication system that makes it as easy as possible for interoffice communication.
? Office computer essentials – find out who should have desktops, who should have laptops, who should be responsible for backing up all your electronic files and much more here.
? Establish an effective security at your office.
? Create an office filing system
? Consolidate your filing system
? Write a help wanted ad that will attract just the right type of candidates you are looking for.
After you have found the most qualified candidates for the job you are then placed in a position to delegate the fundamental tasks of the day to day operations. Those tasks are divided into six key elements such as;
? Everyday Administration
o Day-to-Day Activities
o The Phone System
o The Filing System
o Hiring & Firing
o System Check Sheets You Must Have
? Meetings and Office Reports
o Weekly Meetings
o Monthly Meetings
? Payable & Receivable
o Paying the Bills
o Collecting Payment
o Agreeable Move-out
o Eviction Notices
o Eviction Procedure
? Property Purchase
o Private Lenders
o Purchase Check Sheet:
o Special Issue: LEAD Paint
o Short Sales, Subject To, Wholesale, Retail Covered
? Selling Property
o Selling Check Sheet
o The Collections Procedure
o The Courts
o The Outcome tal outline on how to operate a real estate business