Managing Transactions

As you grow your real estate business, you will be working with multiple clients and dealing with multiple transactions at one time.

Managing the details of different transactions, the needs of different clients, while still providing attention, care and excellence for a successful closing can quickly become overwhelming. However, with the right tools and strategies you can do it effectively.

Here are some tips that will help you manage your transactions as you grow in real estate career: 

Have a Daily Checklist

A daily checklist isn't just a tool for organization but a means to drive efficiency and purpose in your day-to-day activities. 

It's a simple, but very effective tool. Even though you have an idea of the tasks that you should be completing on a regular a basis, having a checklist will increase the likeliness that it gets done.

Communicate with Your Clients

We know that this may seem obvious, but communication is key especially when you are managing multiple clients. 

Every client wants to feel like a priority and would like the peace of mind knowing that you are on top of everything for one of the biggest investments. The best way to keep your clients at ease is to communicate with them.

• Set Expectations Early: Let clients know how and when they can reach you. Being transparent reduces unnecessary calls or stress.

• Be Proactive: Regularly update clients on their transactions to avoid them chasing you for updates.

Prioritize Tasks

Not all tasks are created equal. Some have closer deadlines, some dictate the survival of the deal, and others can wait. 

Prioritizing your tasks will help to make sure that nothing, especially the important things, gets fumbled.  

• Schedule Strategically: We know that some clients are more time-consuming and demanding than others. Try not to schedule working with too many demanding clients in the same morning because that can become exhausting. If necessary, stagger meetings with breaks or business-related tasks so that you can mentally unwind before dealing with another strong personality. 

• Automate: We suggest that you automate as many tasks as you can. You can do this by creating email reusable email templates and marketing materials 

Use Your Calendar

Many people know that they should use their calendar, but just don't. 

Maintaining a calendar adds more structure to your day. Setting a time to complete daily and specific tasks make sure that you have enough time in the day to do what you need to. 

Top-performing real estate agents obey their schedules and typically divide them into three main tasks: lead generation, business management, and client work. To grow your business while also attending to your clients, it's important that you do all three.

Here is an example of a calendar using time blocking:

Here are tips for you to use your calendar more effectively:

• Batch Similar Tasks: Dedicate specific time blocks to calls, meetings, and emails rather than multitasking. Working on similar tasks at a time takes less mental energy. 

• Day Theming: Dedicate days to specific tasks. 

For example: Mondays may be for creating content and Tuesdays may be for posting and prospecting.

• Automate: Create a scheduling link (like Calendly) so a prospective clients can automatically schedule to meet with you.

Create a Standard Process

Each of your clients has a goal to either buy, sell, or lease a property. 

While their personalities and specific needs may change, their goals are typically the same. This is great because it gives you the opportunity to create a set workflow for each type of transaction.

If their goal is to buy a home, you can lay out the exact steps that your client and you will need to take to close the deal. And then you can do it all over again for the next client. Standardizing this process will help you scale your business and manage multiple transactions. 

Since you already know what steps go into the process, you can create a workflow to ensure you’re doing everything you’re supposed to do for the client on the right schedule. 

You can create a standard workflow in DotLoop as a task template, this way your standard workflow checklist will be accessible right from that transaction loop. 

Manage Your Client and Transactions with a CRM

Client Management Systems centralizes all client interactions, allowing for better organization, improved communication, deeper customer understanding, and ultimately, increased customer satisfaction and retention by streamlining processes and providing a holistic view of each client relationship across different departments within a company.

Recommendations:

• ClickUp: This another great option for organizing tasks for specific clients and transactions and your professional and personal goals. You can customize your board so you can manage your clients whichever way is good for you.

• Monday.com: Monday has the ability to create custom sheets to organize whichever way works for you. This is a great option. They also have a free plan.

• Asana: This is a good option for managing tasks and personal to-dos. Comparable to the other options provided.

• Google Sheets: Google sheets has new capabilities that allows you to create the perfect sheet for organizing clients and transaction in whichever way works for you. This is a free option is your have a g-mail account. If you are in the SoldbyRH worksheet you will also have access to our template.

There are many options for managing clients and your transactions. We suggest doing some research to find the one that works best for you.

Manage Your Transactions in DotLoop

Our Dotloop Transaction Management Software offers several tools to help manage multiple transactions, including: 

• Loop organization: The My Loops page allows you to organize and sort transactions by status or other criteria 

• Task assignment: You can create standard templates of To-Do lists and even add due dates to help you stay on track. 

• Mobile app: We recommend that you download the app so that you can quickly and easily add/edit docs and stay in the loop on your transaction from anywhere that you are at.  Read more about managing your transaction on the DotLoop app. 

In the next section we are going to give you an overview on using Dotloop for Transaction Management.