At Short Sale Expeditor, we are the recipient of your outsourcing. We appreciate the business, and we love providing short sale negotiation services and transactional compliance/coordinating services for agents. Nevertheless, when you outsource, things can go well or they can go poorly. Of course, we all want them to go well. In order to assure that they do, please consider these 3 most common mistakes when outsourcing.
Mistake #1. Poor communication
When you outsource, it is vital that both you and your contractor or the company to whom you have outsourced each understand the goals of the other. When you are on the same page and both parties understand the scope of the work, everyone is much happier and you are more likely to have a positive experience.
As an example, at Short Sale Expeditor, we handle all of the calls to the lender and all of the work necessary to get the short sale approval letter you need to get the deal closed. However, in most cases, we leave the communication with the seller and buyer’s agent to the listing agent because we do not want to step on anyone’s toes. If a listing agent didn’t know that, issues could arise. As such, it is crucial that there is good communication about the scope of work and regular updates on the status of the project in order to keep everyone happy and on the same page.
Mistake #2. Outsourcing the wrong positions
It doesn’t take a genius to understand that not all positions are equally good for outsourcing. Moreover, delegating some tasks to a person out of the company is always a risk.
As an example, if you are hiring your first real estate assistant, you’d better start with delegating small tasks, which would be easy to fix in case of failure and which don’t depend much on professional knowledge and experience. If you are satisfied with the outsourcer’s performance on such tasks you can step by step switch to bigger tasks requiring more responsibility.
But still don’t forget about regular control and at least weekly reports, otherwise one would end with tons of undone or badly done work just before the deadline.
Mistake #3. Lack of preparation
Many real estate agents see outsourcing as a magic key to success. It really can be very beneficial, but the real estate agent should be prepared for this type of business.
What this means is that you cannot see the outsource company as they key to your success in the business. It is a collaborative affair. As an example, all of those companies that offer real estate leads. Those leads are not handed to you on a silver platter. You need to foster them and work them until they turn into a successful real estate sales client. A company can be a large part of your success, but lots of that involves you.
If you are looking for support with your short sales, feel free to call Short Sale Expeditor. We would love to support you with your next real estate transaction.