As a real estate agent, there comes a point where you realize you simply can’t do it all on your own. You’ve built a thriving business and nailed down your systems, but the day-to-day grind of managing administrative tasks, client communication, and transaction coordination is consuming your time.
If you want to focus on scaling your business, closing more deals, and growing your client base, delegation is no longer a luxury—it’s a necessity.
At Level 4 of Tom Ferry’s 8 Levels of Performance, the focus is all about delegation. It’s time to master the art of handing off tasks and hiring the right people, so you can concentrate on high-value revenue-generating activities that drive business growth. In this blog, we’ll dive into the strategies and tools you need to master delegation and build an efficient real estate team.
Delegation is the process of assigning tasks to others so that you can free up your time for higher-value activities – those that generate revenue. In real estate, this often means delegating time-consuming tasks like managing paperwork, organizing schedules, handling transaction details, and even client communication.
When you free yourself up for only revenue-generating activities, imagine how much more you can generate.
But delegation isn’t just about getting things off your plate. It’s about ensuring that tasks are completed efficiently and to a high standard, allowing your business to operate smoothly and grow consistently.
Effective delegation requires a clear strategy, the right tools, and the right people. That starts with defining what needs to be delegated – an essential element of business planning.
Which tasks are preventing you from focusing on growth. Think about:
Determine the gaps in your business and identify the roles that can help fill them. These are often tasks that can be handled by others, such as an administrative assistant or a real estate transaction coordinator.
The two most common hires at this stage are an administrative assistant and a transaction coordinator. But how do you decide which role to fill first?
An administrative assistant is great if you need someone to handle general office management, client communication, scheduling, and day-to-day organization. They can free up your time so you can focus on prospecting, lead generation, and client-facing tasks.
Key Responsibilities:
A real estate transaction coordinator specializes in managing the process from contract to close. This role is ideal if you’re overwhelmed with the details of your deals and need someone to handle all the paperwork, deadlines, and compliance issues.
Key Responsibilities:
If your day is bogged down by general admin work, start with an administrative assistant. If transaction management is taking up all your time, hire a transaction coordinator. Alternatively, you could start with a marketing-related role such as a videographer, a social media manager, or an all-around marketing specialist. It all depends on your specific needs.
Once you’ve decided on the right hire, it’s time to create a structured hiring and onboarding process.
Make sure to develop clear job descriptions and post them in places where you’re likely to attract quality talent. You can choose sites like Indeed or LinkedIn, but you can also be open to online ads or looking into local recruiting agencies.
You’ll want to have your interview questions lined up in advance. For example, you can use these administrative assistant interview questions to find someone who’s a perfect fit for managing your operations. Similarly, ask transaction-specific questions to ensure your real estate transaction coordinator is detail-oriented and deadline-focused.
Once you’ve hired the right person, a smooth onboarding process is crucial. Create an onboarding checklist that defines their responsibilities, workspace setup, and key timelines. Scheduling regular check-ins during the first 30-60 days will ensure they’re settling in well and understand your business processes.
The key to effective delegation is using technology that helps streamline communication, manage tasks, and automate repetitive processes. Make tools available to not only manage your employees but also set them up for success.
This is also where having clearly defined Standard Operating Procedures comes in. An effective S.O.P. is one that can be handed off to anyone and will allow them to perform the task in the exact same way to achieve the same results.
Building a strong team is about more than just hiring the right people. It’s essential to continually develop your team’s skills and provide them with opportunities for growth.
Running a team requires more than just task management. You’ll need to handle the administrative side of employment as well:
If you hire and onboard a bunch of new employees and then spend all your time micromanaging them and holding on to control, you’re wasting that time and you’re probably not ready for leadership.
At a certain point, you need to let go and allow them to do their jobs so you can be free to focus on high-value activities that drive business growth.
Remember, mastering delegation at Level 4 prepares you for Level 5, where you’ll start to build out your real estate team and expand your business even further.
Are you ready to start building your real estate team and focus on growth? The fastest, safest, most proven way to do it effectively is with a coach. That’s how industry leaders scale their businesses.
Schedule a business growth evaluation with a Tom Ferry team member today.