Making big decisions in your real estate business? - Our partners - Live Real Estate Accounts

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Collaborating with us since the office opened Live Real Estate Accounts are one of our most integral partners. We chatted with Director, Chris Mercer on his approach. “We provide Real Estate business owners with accurate, reliable and timely accounts, with reports that allow them to make informed business decisions, based off the real financial performance of their business. You focus on growing your business, we'll do the books".

Our Managing Director, Daniel O`Brien commented "I completely trust and rely on Chris and his team to do all the staff wages, pay all the bills and liaise with my accountant on all those matters, which I do not enjoy.  I would encourage any owners of real estate offices to speak to Chris.

Question:
What are the 3 main pain points for owners of real estate offices.

Answer:
Biggest pain points are People, Systems and Profitability.
There are many layers to each of the above areas but, whether you have run a business for a while or are looking to get started, each area will require attention by business owners at different stages and decisions will have to be made.
The challenge of finding and keeping good people and solving the technology problem is a constant dilemma, and not an area of expertise that business owners brought with them when they decided to run their own company. Done well, strong utilisation of capacity can be achieved by your team and this leads to high profitablilty, done poorly, precious resources are wasted.   

Question:
How can you assist to alleviate these pain points? 

Answer:
Don’t be paralysed by getting everything right. So be prepared to take risks. The great businesses ‘make things happen’, they don’t wait for things to happen.
The Key is to be ready to measure the results of your decisions in recruiting and retaining people, and installing and utilising software well.
Don’t jump at every shiny new button, but execute and implement what you start before embarking on a new project.
Remember, profitability is achieved through the successful filling of the capacity your business has in its overheads and productive agents to make as much income as is sustainably possible, at a margin.
To help business owners make this decision with as much confidence as possible they should ask for professional help from Industry experts to give them peace of mind and speed up their learning curve, that’s where a company like our business, Live Real Estate Accounts adds its most value.
 
Question:
What trends have you seen with commission only vs debit credit in the last 3-5 years?

Answer:
The changes in agent’s packages have been constantly heading toward agents wanting more and more of the % of the Commissions they generate.
To make this possible, business owners have catered for this requirement, but only when the agent takes on more of the responsibility and foregoes the base salary. More risk for more reward.

What’s the next technology about to hit for all business owners?
Watch out for Live Real Estate Accounts benchmarking dashboard, we will be launching this for all business owners who want to see how their business is going against the rest of their peers. Knowledge is power.