Real estate tasks you should be on top of
There’s no such thing as a “typical day” in real estate, but there are several tasks realtors must stay on top of.
Realtors must handle dozens of administration tasks every day. But you’re also in charge of finding new prospects and closing new deals. Finding a way to make these tasks time-efficient is crucial to success.
Administrative tasks that every realtor needs to be on top of include:
- Data entry
- Building and managing client databases
- Setting up meetings, open houses and appraisals with prospects
- Completing, submitting and filing real estate documents, agreements and lease records
- Building weekly, monthly and quarterly budgets
- Researching and compiling comparative market analysis reports for properties
- Responding to emails and phone calls
- Updating the agency’s website and social media profiles
On top of administrative tasks, realtors must also actively prospect for new buyers and sellers. At the end of the day, without prospects to buy and sell homes, you would be without an income.
Planning your real estate prospecting activity in advance will ensure your funnel is always generating fresh leads. The most efficient way to make this happen is to automate as much of this process as possible.
The real estate sales funnel is a little different from other industries. It involves taking prospects from being a first-time visitor to a qualified lead ready to hand over their contact information.
Other lead generation activities can come through more traditional routes, such as your personal network, business associates and recommendations from other prospects.
Time is money. And all of these tasks can be extremely time-consuming. Which is why a modern realtor does one of two things: hires an assistant, or enlists the help of a Real Estate CRM.
The benefits of real estate task management
The benefits of real estate task management go beyond saving time. Keeping on top of daily tasks and staying organized can relieve stress and increase productivity within your real estate agency. And as we all know, happy agents are productive agents.
If you’re juggling dozens of tasks on a number of different platforms, chances are you’re feeling the stress. Bringing in all of these tasks into one platform and managing them effectively can make your entire role as a realtor more organized.
Benefit 1: Lead generation and nurturing
Most people will either rent, buy or sell a property in their lifetime. That means, nearly every person you come across in your real estate career is a potential client.
A typical day may involve connecting with prospects, responding to website inquiries and nurturing leads. Without a task management system in place, managing your leads can become scrappy or unorganized.
Following up leads effectively can be broken down into six steps:
1. Generating leads
2. Qualifying leads
3. Nurturing leads
4. Lead distribution
5. Pursuing leads (sales process and pipeline)
6. Tracking and reporting
Having a system in place to follow up with leads in a timely manner can make or break a deal. You must provide leads with an end-to-end sales experience that adds value and provides the right information at every touch-point.
Benefit 2: Handling meetings and tours
Whether you’re selling a house or finding a client their dream home. You’ll typically spend most of your day working directly with clients.
Not only that, but you also have to work alongside brokers, loan officers and, of course, other realtors in your agency.
For example, regular meetings give realtors the chance to share new listings, update other agents on price reductions and discuss buyers' needs. Not to mention help realtors line up buyers and sellers.
All of this can lead to an operational nightmare for a real estate agency.
If you’re using a CRM for task management, the tool can automatically schedule meeting times and enable document sharing through third-party apps like Google Drive or OneDrive.
Not only will this make the meeting more efficient, but it will save you time by avoiding dreaded back-and-forth emails.
Benefit 3: Organize mundane tasks
Managing your tasks online is a lot easier than using paper lists that litter your desk.
One of the biggest benefits of online task management is it gives you the option of organizing and automating these mundane tasks.
Using a task management tool is a great way to keep on top of yawn-worthy tasks like data entry. As many tools work on the cloud, it means you’ll be able to stay on top of everything (even if you’re away from the office).
Benefit 4: Keeping your accreditation in check
The cornerstone of a reliable real estate agent is having an active realtor license.
While it’s not on everybody’s daily task list, realtors are required to maintain education credits to keep an active license. Many realtors who want to climb the ranks in their office also study additional certifications to improve their credentials and marketability in the industry.
Including your accreditation upkeep on your task list can help you to make sure you never fall behind the required standards.