The most successful companies have standard set rules and regulations for employees and managers that clearly outline exactly what is expected of them. When new people are hired into the company, they should receive packages with the information and be instructed to read them thoroughly. If you own a realty business, and don't have set rules and regulations for salespeople and staff, you can purchase a suggested real estate policies and procedures manual and management guides that are readily available online.
While it is certainly acceptable to create your own manual, there a number of generic packages available online that are approved by industry professionals. They can be personalized and tailored to your individual company. Realty companies face some special challenges because most employ both salaried staff and commissioned salespeople who are independent contractors. Real estate commissions have strict rules that must be followed.
Comprehensive and efficient manuals are usually divided into sections and subsections in loose leaf binders. This makes it easy for management to move topics around and insert additional pages as necessary. The use of numbered lists and bullets allows busy employees to scan the topics quickly. Some of the sections will be specific to real estate and others will pertain to general office policy.
For realty businesses, it is very important that everyone who works for the company clearly understands the meaning of antitrust laws. Company policy regarding this subject should be at the front of your manual. If anyone in the company implies in any way that your commission structures meet area standards, or that they are charging the standard commission set by area companies, severe penalties and fines could result.
Companies with commissioned salespeople need to have very clear guidelines when it comes to how the company handles rates. The principle Broker can decide to lower a commission percentage if the purchase price exceeds a certain amount. The company may have a policy that sets a certain commission for commercial property sales and another one for residential property.
An office dress code can be tricky when you have independent contractors as sale agents. They may take the attitude that the policy does not pertain to them. With a written guide, you can make your point that they represent the company they work for, and this includes their appearance. Young, inexperienced workers sometimes have trouble deciding what is workplace appropriate. As much as you respect their right to express their individuality, you have a professional office to run.
Most salespeople hate to make cold calls or service calls to their current clients. If it is your policy that salespeople keep in regular contact with the clients whose property they have listed, your manual should say so. Managers who require salespeople to set aside a certain amount of time on the phone with potential clients should specify the particulars in writing.
It is good business to let employees, commissioned sales agents, and middle management know what is expected of them. It is better to have it in writing and available for everyone to read. As a manager and Broker your company image is one of your most important assets.
While it is certainly acceptable to create your own manual, there a number of generic packages available online that are approved by industry professionals. They can be personalized and tailored to your individual company. Realty companies face some special challenges because most employ both salaried staff and commissioned salespeople who are independent contractors. Real estate commissions have strict rules that must be followed.
Comprehensive and efficient manuals are usually divided into sections and subsections in loose leaf binders. This makes it easy for management to move topics around and insert additional pages as necessary. The use of numbered lists and bullets allows busy employees to scan the topics quickly. Some of the sections will be specific to real estate and others will pertain to general office policy.
For realty businesses, it is very important that everyone who works for the company clearly understands the meaning of antitrust laws. Company policy regarding this subject should be at the front of your manual. If anyone in the company implies in any way that your commission structures meet area standards, or that they are charging the standard commission set by area companies, severe penalties and fines could result.
Companies with commissioned salespeople need to have very clear guidelines when it comes to how the company handles rates. The principle Broker can decide to lower a commission percentage if the purchase price exceeds a certain amount. The company may have a policy that sets a certain commission for commercial property sales and another one for residential property.
An office dress code can be tricky when you have independent contractors as sale agents. They may take the attitude that the policy does not pertain to them. With a written guide, you can make your point that they represent the company they work for, and this includes their appearance. Young, inexperienced workers sometimes have trouble deciding what is workplace appropriate. As much as you respect their right to express their individuality, you have a professional office to run.
Most salespeople hate to make cold calls or service calls to their current clients. If it is your policy that salespeople keep in regular contact with the clients whose property they have listed, your manual should say so. Managers who require salespeople to set aside a certain amount of time on the phone with potential clients should specify the particulars in writing.
It is good business to let employees, commissioned sales agents, and middle management know what is expected of them. It is better to have it in writing and available for everyone to read. As a manager and Broker your company image is one of your most important assets.
About the Author:
For quick access to real estate policies and procedures manual and management guides, simply refer to our website at reawareness.com. Alternatively, you may go to the main page here on http://www.reawareness.com/Management-Guides.html.
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