TIP:
Sometimes you just have to cut back. If you are like tons of real estate professionals out there...you need to be very careful with your bank account right now! There are several ways to do this:
- Check your cell phone bill - Seriously. Once most people get their cell service set up they never go back and monitor their usage. Call your cell phone company and have them audit your last 3 months of usage and see if there is a plan that can save you money based on how you actually use your cell. We're all different and it is definitely not "one size fits all"!
- Make a List of Recurring Monthly Charges that hit your bank account and credit cards each month. Go through them and check to make sure they are all services you actually still need and want to use. If not...start cancelling them out. Even just getting rid of one of them is a step in the right direction.
- Client Appreciation - save it for the ones that show you the $ love! I don't mean to sound harsh, but if they haven't closed any business with you within the last 6 months (these are your hot clients), then stop sending them those Starbuck's Cards or other gifts! The holidays are around the corner and you need to save that cash. Instead, for the "cooler" clients, simply add them to your direct mail and email newsletter lists. They will still be reminded of you, and if you provide them with valuable information, they will be just as likely to do business with you as they would if you bought them a coffee once a month. The same thing goes for taking out clients to show property and buying them lunch...it's not necessary and it's a budget and time zapper. Instead, stock your car with a cooler of water bottles and some granola bars and cracker packages for those times when you seriously feel the need to boost your clients' energy levels to get through looking at those last few homes before you break and go your separate ways for the day.
- Spend Money...to make more! - there are some things out there that it really is not worth your time to do...and it's worth it to pay for the services of someone else to do those things. You already know that I am going to suggest that you work with a real estate virtual assistant to handle the administrative tasks for your business, but there are other things too...like website design and transaction coordinators. Seriously...this is not your area of expertise...don't do it. A great web design that is interesting to visitors, and still functions well with the search engines, is worth its weight for sure. And Transaction Coordinators handle the same time consuming tasks of keeping up to date and making sure that all the files are as they need to be all the time...it's there business...so let them do it...and it frees you up to go do more deals and make more money! Your real estate virtual assistant may or may not do web design and / or Transaction Coordination...if they do, great, if not...hire separate people for separate jobs...sometimes it works out better that way any how! Other services that should be outsourced for best results are graphic design, photography (usually just for high end), staging, etc...
FAMOUS QUOTE: "A bank is a place that will lend you money if you can prove that you don't need it."
~ Bob Hope
TIPSY:
Watermelon Spa Tonic...I found this recipe in a magazine somewhere and mixed it up just a bit. I am not a fan of gin at all...but after the second sip of this, and the gin shock had worn off...I quite liked it. I think I might swap out the gin for Kettle One Vodka next time.
- Cube seedless watermelon (need 6 cups - which was about 1/2 of a fairly large seedless watermelon)
- 1 large English Cucumber (peeled and chopped into 1" cubes)
- Juice of 1 large lemon
- 1/4 c. packed fresh mint leaves
- 2 1/2 c. chilled Tonic Water
- 1 1/4 c. Gin
- watermelon slices and mint leaves for garnish
Put the first 4 ingredients into a food processor or blender and puree until smooth and as liquidy as possible. Then either strain into very tight weaved sieve or through cheesecloth. You should get at least 2 1/2 cups of smooth liquid out of this. Stir in last two ingredients and poor into tall glass filed with ice. Enjoy!
OK - please post comments and tell me what types of "Tips" you would like to see covered here in the future!!! (You can post other comments too of course...like after you try the Watermelon Spa Tonic!)
Comments(7)