You need to streamline your commercial real estate team’s workflow. How can you do it?

I suggest 3 keys: 1. Automate the repetitive and lower risk tasks, reminders, and workflow process mov. 2. Connect with live information feeds about the market and conditions in your CRM dashboards and 3. Standardize the baseline information gathered for critical decisions into a guided process so you can leverage your team to prepare for the critical choices. This frees up time for your team to collaborate on the challenging work and debate the critical decisions, and keeps everyone from getting bogged down in the minutia. Some things won't be perfect, but don't let perfection slow you down when good is good enough for less critical steps.

Use a check list for pre-underwriting and post-closing. -Assess borrower for strength and repayment -Have prerequisite forms completed for appraisal/environmental due diligence -Use checklist to develop systematic process and due diligence completed. -Once approved, follow with post-closing checklist. -A consistent workflow process ensures all items completed.

Having a centralized platform not only enhances communication but also enables efficient management of leads, contacts, and deals. It's like having a virtual assistant that keeps everything organized and accessible, allowing the team to focus on building relationships and closing deals. In one specific instance, our team witnessed a significant reduction in response time to client inquiries after integrating a CRM system. The ability to track interactions, automate follow-ups, and analyze data has been instrumental in providing a personalized and efficient service to our clients.

Having leadership skills for example 3 forms. a) Direct delegation: Assign a specific, you assign a specific task to a team member and provide clear instructions on how to complete it. b) Delegating with authority: This approach involves assigning a task along with the authority to make decisions and take the necessary actions to achieve it. It works well when you trust the individual's judgment and want to encourage autonomy. c) Delegate for Development: This approach focuses on delegating tasks that challenge and stretch the capabilities of your team members. Its goal is to promote growth and learning by providing opportunities for skill development and greater responsibility.

A CRM paramount for any CRE team. A mentor of mine once said, "the key to great relationships is great organization." By outsourcing the information on your clients and leads, you can focus on being present and serving your clients, not keeping track of large amounts of data.

When every team member understands their specific contributions and areas of focus, it not only streamlines workflow but also enhances collaboration. Assigning roles based on individual strengths and expertise ensures that each task is handled by someone with the right skill set. For example, in a recent project, we implemented a structured approach, clearly outlining who was responsible for market research, client interactions, negotiations, and closing deals. This not only eliminated confusion but also allowed everyone to excel in their respective areas. The result? A more synchronized and efficient team, delivering exceptional results for our clients.

After understanding what our company needed to look like, I went through a roles and responsibilities audit. We are a small business, so people wear multiple hats... - I am the lead on some of the verticals. - On others, I report to my business partner. -Our employee, vendors or services all fall under one of us. Defining this is important. It must be a visual document, so everyone understands who the decision-makers are in any given scenario. It also ensures that those leads know it is their responsibility to push the boundaries of what they know in their respective verticals.

This point is simple but essential. In my area I control it with professionograms (a document that specifies responsibilities and obligations for each employee), it is socialized and evaluated annually.

Using a system such as Entreprenurial Operating System (EOS) is great. If you can read a book like Traction from Gino Wickman and implement the system, your business will be well served. Clarifying your core values, goals and structure along with having 90-day "rocks" to push you along is something that has helped First Gen Foundations grow efficiently and purposefully.

In our journey, embracing standardized processes has been a game-changer. From property evaluations to client communications, having well-defined procedures not only streamlines our operations but also ensures consistency and quality across the board. When we standardized our property assessment procedures using a comprehensive template, we witnessed a significant reduction in turnaround time. This not only allowed us to serve our clients more efficiently but also facilitated clearer communication within the team. The benefits extend beyond just efficiency – it brings a level of predictability to the often unpredictable real estate landscape. Clients appreciate the transparent and structured approach, which builds trust and credibility.

SOPs or standard operating procedures an incredible way to leverage your time. You do fine with the standard processes, record and track it using a mixture of Google documents and video tools such as Loom . Next, you create a database of all your standard operating procedures and tag them so they are very easy for your team to find. When a teammate is trying to run a process, you just direct them to the standard operating procedure thereby multiplying your time !

To ease workflow in your commercial real estate business operations, you need to leverage technology. We live in a digital reality work where everything is digitized, even to the minimum task. To achieve a holistic workflow, integrate a diverse technological tool for each role: CRM, accounting tool, Sales tools, Data management tool, etc...

For instance, we integrated virtual property tours into our processes, allowing potential clients to explore properties remotely. This not only saved time but also expanded our reach beyond local boundaries. Additionally, utilizing data analytics tools provided valuable insights into market trends, enabling us to make informed decisions. Embracing technology not only enhances efficiency but also improves client experience – a win-win for any commercial real estate team looking to stay competitive in today's dynamic market.

A common problem I see in the industry after working with numerous top managers over the past several years is that due to a historical reliance on tools like Excel and CSV files, many struggle with data integrity. Even when tools are used, having data sources live across multiple systems creates reconciliation challenges when changes occur. Top managers are more and more seeing the value of having a central partnership enablement system like Juniper Square which combines CRM, investor reporting, subscription management, portal functionality all in a single system with robust data integrity.

AI is changing the landscape for sales. My calls are recorded by an AI that automatically summarizes everything in the conversation and creates to dos. When adding someone on LinkedIn, I have a software that allows me to add them directly into my crm and scrub the internet for their contact info. I use an AI-leveraged tool to find property owner data for cold calls. You should be leverages these tools or you're leaving millions on the table.

Ensure seamless integration with your CRM system using tools such as calendars, maps, analytics, and e-signatures. This tech-driven approach enhances effective communication, facilitates easy access to information, and accelerates task completion, ultimately optimizing and streamlining your team's workflow.

Training team members is important to us at First Gen Foundations. We are a learning organization. This means everyone is required to be growing somewhere, either personally or professionally. At a high level, tasks have a Standard Operating Procedure (SOP) that is reviewed by the team. As for training, we are big on sending Loom videos to capture how something is done. We follow the process: 1. Watch me do it. 2. I teach you to do it. 3. I watch you do it. 4. The task is now yours. This can take days or weeks depending on the complexity or timing of the task, but we have been able to set ourselves up well with this model.

This not only empowered team members with updated knowledge but also fostered a culture of innovation and adaptability. As the market landscape constantly evolves, a well-informed team is better equipped to navigate challenges and identify lucrative opportunities. Moreover, the training didn't just stop at industry knowledge – it extended to refining communication skills, leveraging advanced tools, and embracing collaborative platforms. This holistic approach significantly streamlined our workflow, leading to quicker decision-making and more seamless transactions.

Simplify the process. Getting too granular with the SOPs can become pointless and overwhelming. Boil down the processes to the main steps. Like the 80/20 rule. Explain 80% let 20% be improvised by the individual completing the task. The simpler the process the more efficient and satisfying the work will be. Integrate automation to move the process along. Avoid manual processes if at all possible.

In the fast-paced and ever-evolving field of CRE, staying agile and efficient demands a commitment to continual improvement. As such, regular evaluation of your team's workflow is crucial. Seek feedback, assess the effectiveness of your processes, and be willing to make changes. Most importantly, you and your team need to embrace change and flexibility and have a willingness to adapt. The CRE market is dynamic, and sticking rigidly to outdated processes can hamper your team’s effectiveness. Be open to experimenting with new approaches and be ready to pivot strategies if they are not yielding the desired results. This constant refinement process is essential to keep your operations lean and adaptable to the changing CRE landscape.

Identify and document existing processes. Analyze and address inefficiencies and bottlenecks. Leverage technology, including specialized software and automation tools. Implement collaborative platforms for seamless communication. Provide training and skill development for team members. Conduct regular workflow audits and solicit feedback for improvement. Establish clear communication channels and use project management tools. Develop and document standardized operating procedures. Foster a culture of continuous improvement by staying updated on industry trends and encouraging innovation.

Don't forget the human element. Foster a culture of open communication, collaboration, and innovation. Encourage your team to bring new ideas to the table and be open to experimenting with new approaches. And be sure to pay attention to the overall well-being of your team as well — a motivated and satisfied team is crucial for long-term success and sustainability in CRE. Overall, streamlining your CRE team's workflow is about combining the right mix of technology, clear processes, continuous learning, and human-centric approaches. This will not only enhance efficiency but also drive innovation and lasting growth.

Technology is great, but there is no substitute for communication and collaboration. By combining these, your processes will begin to streamline themselves. Establish well-defined procedures with roles and responsibilities within the team. Schedule check-ins and team meetings to discuss progress and barriers. Create a culture that encourages feedback and regularly seek input from team members to identify areas for improvement. Combining effective communication and leveraging collaboration will create a more efficient and cohesive team, ultimately improving streamlined processes and workflow.