Owning your own real estate business is exciting, but like most businesses, it’s also a lot of work.
Getting to the point where you feel like you need to start enlisting more help can be a pivotal moment in your business, if only you knew where to start.
How do you know you need to hire someone? How to find that person? And what do you do to bring them on-board?
These are all valid questions and important ones to understand before making the leap. Below are 4 things you need to know before hiring your real estate business’ first employee.
- Help Is Never a Bad Thing
For some reason, many people feel less capable when they can’t do something on their own.
You should know that when you reach this point in your real estate business, embracing it will help you grow. Knowing when to ask for help is actually a sign of strength and intelligence.
Of course there are going to be things you just can’t do on your own. That is, of course, unless you want to work 80-hour weeks for the rest of your life.
You shouldn’t have to work your life away, and that’s why hiring help is never a bad thing.
- Hire Sooner Than Later
The sooner you can create and add someone to your payroll the better.
For a real estate business, hiring your first assistant usually means you finally have more work than you can feasibly handle. There are many mundane and repetitive tasks that you likely hate doing and can pass on to someone else.
Your new employee can help with these tasks, freeing you up to focus on the core functions of your business. Things like acquiring new properties, forming new partnerships, house flipping (if that’s part of your thing), and finding buyers.
Failing to hire as soon as you can afford to will only lead to burnout, lower quality work, and higher stress.
- Where to Find Your First Helper
Now that you hopefully understand the importance of hiring help, how do you actually go about finding this person?
Most often, the best help you can find as a real estate business owner comes through referrals from family members, friends, or coworkers.
Finding an employee this way avoids the hassle of having to weed through candidates and onboard someone you know nothing about. When hiring from a friendly referral, especially from someone who’s worked with them in the past, usually they’re trustworthy and ready to tackle whatever needs you may have.
Remember, even though referrals have a great chance of working out, that doesn’t mean you should always hire the first person that comes along. Take your time and make sure whomever you hire is the right fit for you and your business.
- How to Bring Them into Your Team
Lastly, upon hiring your first employee, you’ll need to know what that actually means. You will have to learn how to tackle payroll and other issues like benefits, if applicable.
You should have a clear plan for how you will delegate your tasks and the type of training you plan to give during their first little while on the job.
“Laddering up” by slowly giving your new employee more intricate tasks is a great technique to slowly adopt them as a part of your business.
By the time you’re finally ready to hire your first employee, your real estate business will hopefully be flourishing. Use the lessons you learned above to help make the transition from lone wolf to team player an easy one.