Save Money and Ensure Your Best Staff Stays

It's really tough to reduce staff, especially those that have proven themselves to you and your organization. One way to ensure you keep the people you rely on is to let go of the ones that are not. Technology is a proven strategy for replacing tedious and mundane jobs (often performed by your less than stellar staff members) and using that new found profitability to ensure your valued staff members stay with you for years to come.

Number 5 – Reduce costs by increasing administrative productivity

Remove redundant and repetitive tasks from your administrative operations and streamline your administrative team. Automation is a proven method for reducing administrative costs. Older technology rarely has the new features that can really make a huge impact on day to day operations.

For example, direct pay deposit is a fantastic way to reduce bank processing fees, lower processing costs (administrative salaries, check stock and printer supplies) and provide your sales associates with ‘real-time’ payment. This one simple but powerful feature can save your firm thousands of dollars per year.

Another example is automated bank reconciliations. Manually reconciling bank activity is a long and tedious process that requires a highly paid administrator to perform. Most of the major banks can provide a data file that lists all of your company’s check activity (deposits too). Today’s newer technology can import the bank’s data file and can produce a reconciled report in minutes.

Work-a-round processes are inherent with older technology solutions. They are rarely in ‘sync’ with the main system and often create expensive administrative chores maintaining multiple solutions. Multiple non-integrated work-a-round solutions are usually the cause of costly errors. For example, Associate Accounts Receivables require close monitoring and when possible, immediate repayment. Using a non-integrated solution for agent receivables can be a nightmare for administrators and very expensive for the company.

A fully integrated solution that completely eliminates redundant data re-entry and ensures all data is always in ‘sync’ with every other piece of data in the solution. Listings, sellers, sales contracts, buyers, sales associates, escrow deposits, commissions, referrals, agent receivables, general ledger entries, checks, deposits and more are linked in a chain-like relationship that binds your business data into a cohesive business solution.

Assumptions (multiply by your actual numbers):

0.5 full time administrative position retired
$15,000.00 annual cost saved
Using NAR $100.00 average profit per side the $15,000.00 would be like adding 150 more sides to your transaction total for your company