Las Vegas · Member since 2019 · 42 posts · 12 votes
What are the first jobs that should be outsourced when building a Commercial Real Estate business? I am planning on using a service like Upwork or Fiverr
Realtor · Lubbock, TX · Member since 2016 · 165 posts · 155 votes
5y
My first question is what type of commercial real estate business? Brokerage, development, buy and hold?
For a brokerage/client services type business, I would start out by outsourcing content and SEO for your website. So hiring an experienced copywriter who can provide blog and article content for your site to help improve your search ranking and also do it much quicker. Most copywriters can crank out high quality content much quicker than the average person, so you are paying for efficiency and effectiveness of the content you are receiving. On the social media side, that is one thing I believe you can outsource, but carefully. If you are the brand, it still needs to be genuinely you and the content if outsourced can come across as ingenuine.
If your business is more on the development or property ownership side, I would outsource things like skip tracing for potential land owners who you could contact to purchase their land for developing new property on or finding and providing you with lists of commercial property owners that are out of state, delinquent on taxes, distressed, etc. Your ROI on your time is much higher when you spend your time calling these people than combing through databases and putting together the list.
A good way to look at it is do what you are great at and outsource the rest. Work you way from the things you are the worst at up until you are able to outsource everything but the activity that is the highest and best use of your time and talents.
Realtor · Lubbock, TX · Member since 2016 · 165 posts · 155 votes
5y
My first question is what type of commercial real estate business? Brokerage, development, buy and hold?
For a brokerage/client services type business, I would start out by outsourcing content and SEO for your website. So hiring an experienced copywriter who can provide blog and article content for your site to help improve your search ranking and also do it much quicker. Most copywriters can crank out high quality content much quicker than the average person, so you are paying for efficiency and effectiveness of the content you are receiving. On the social media side, that is one thing I believe you can outsource, but carefully. If you are the brand, it still needs to be genuinely you and the content if outsourced can come across as ingenuine.
If your business is more on the development or property ownership side, I would outsource things like skip tracing for potential land owners who you could contact to purchase their land for developing new property on or finding and providing you with lists of commercial property owners that are out of state, delinquent on taxes, distressed, etc. Your ROI on your time is much higher when you spend your time calling these people than combing through databases and putting together the list.
A good way to look at it is do what you are great at and outsource the rest. Work you way from the things you are the worst at up until you are able to outsource everything but the activity that is the highest and best use of your time and talents.
Investor/Agent/Entrepreneur · Dallas, TX · Member since 2016 · 464 posts · 564 votes
5y
It does really depend on your business and what you are looking to do, and how you are looking to grow. However, the first tasks for relinquishing some assignments almost always start with administrative tasks from what I have seen, followed by research & data entry work. Those few items will allow you to do so much more with growing your business. Even email management assistance, email marketing campaigns, etc. can be a big help. Whatever it is, make sure it will be a time saver for you, provide value add to your operations & growth, and ultimately have a positive ROI on your time and money.
Investor · Glen Mills, PA · Member since 2019 · 185 posts · 208 votes
5y
Short answer from my perspective - any activity that is not your core competency or not a valuable use of your time. This could include setting up an LLC, branding/logo, marketing, etc. If you're short on funds, look for a partnership where you can fill gaps for each other.
Cincinnati, OH · Member since 2020 · 4k+ posts · 3k+ votes
5y
@Frank Bonzai, administrative work tends to be the easiest, and relatively cheap. But really, you will get the most value out of "outsourcing" your weaknesses. I put outsourcing in quotes, because I would consider hiring consultants and professionals in those areas more of delegating than outsourcing.
Specialist · Denver · Member since 2021 · 159 posts · 101 votes
5y
I have a different perspective because I work with investors inside a marketing software. I see them quickly hand over the keys to their marketing to a freshly minted VA. I agree that a VA can handle your administrative tasks but when it comes to your marketing and other mission critical components of your business, I'd recommend getting a firm grasp on that first and then later ensuring that the person who you hand that over to has the ability to truly manage your lead flow and process.
Investor · Durham, NC · Member since 2020 · 1k+ posts · 691 votes
5y
To give you a short answer- the things you least enjoy doing should be the ones you delegate first! Find what it is that you like to do- this makes it more likely that it will get done and that you will do it effectively- and then delegate the rest!