Outsourcing is akin to a four-letter word in many parts of America. Jobs that could be held in the States are, instead, being taken by employees in other countries, such as China and India. It is making the idea of outsourcing any aspect of your company a bad one. But sometimes, in real estate, when you’re running your own business, you need to outsource. Fortunately doing so does not require you to find an applicant or company in East Asia. In fact, outsourcing for you will take you no further than Texas and likely no further than Austin.
But, first thing is first. When should you outsource? It’s not an immediate need. If you’re just starting out and have few demands from outside vendors or investors, you probably don’t need to outsource. Additionally, if you are growing at relatively moderate pace, which allows you to stay on top of and continue handling all financial and paperwork matters, you don’t need to outsource. However, if either of those isn’t true – if you can’t keep up with outside demands and the growth of your real estate industry is growing more quickly than a bad mortgage interest rate – outsourcing could be your dream come true.
Why? Well, for one. It will help make you a better real estate agent.
Outsourcing to another company will give you the opportunity to focus on the important issues. You’ll be able to pay detailed attention to each of your clients, searching for them to find the perfect house or commercial space. You’ll have the chance to research projects and determine how one client can renovate his home to make it more green while another searches for a house in foreclosure so he can buy cheap and flip the home quickly. You’ll be a more personable, relaxed real estate agent, because the company you outsource to will handle all the nitty gritty details.
How? By employing and training experts in the fields you need.
Many outsourcing companies, for example, provide certified public accountants (CPAs) who specialize in real estate. The accountant will keep track of your payment records and bills, and make sure everything that should be is in order. He’ll keep you from missing tax day in April and remind you when a former home buyer or seller hasn’t given you the money you deserve.
You may also find through outsourcing someone who knows how to fix the computer beyond kicking it. Specialized individuals in the hard- and software you use could be an invaluable asset. Today, the majority of records are kept online. Losing those records could be the end for you. But if you have no idea how to maintain your hardware, how can you be expected to efficiently back everything up on the computer? You can’t necessarily, but an outsourced employee would.
And there are many, many more benefits. Outsourcing may seem like a bad idea. You may be stuck in the concept of doing it all on your own, for yourself. But sometimes you need the help. You need to look at your business and admit: Okay, we’re too big, too fast. We need help. And then you need to get it.