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Staff Manual/ Office Manual for Real Estate Companies
If you manage or own a real estate company, or any company for that matter, a well thought-out office policy manual is a must. Why? It gives sales associates a solid understanding of your company’s mission and goals from their first day on the job, helps to avoid unnecessary confusion, and communicates company policies on e-mail, advertising, and other important topics. A good policy manual establishes trust, prevents misunderstandings and clarifies expectations for both the broker and the agent. Not having a written policy manual is one of the biggest mistakes a broker-owner can make. When creating one, you’re forced to think through all of thorny issues that may come up in the day-to-day course of business — from commission disputes to dress code problems — and create a solution. Office policy manuals also help reduce turnover. You should ask recruits to review the manual before choosing whether or not to come on board. What Topics Should the Manual Cover? Your manual should encompass all of the basics: your mission statement, personnel policies, and general procedures such as office attire, sales meetings, office conduct, terminations, and vacations. However, it’s also important to include policies and procedures specific to real estate. Here are some suggestions. Remember, this list is meant only as a guide — it’s not all-inclusive. Business Procedures. In this nuts-and-bolts section, be sure to include company policy for presenting offers, disclosure statements, delivering paperwork, and holding open houses. It also should include information about lockboxes and keys — where they’re kept and how they’re managed. Commission and Fee Structure. Include splits, bonus plans, referrals, entitlement to commissions, and how you will resolve interoffice and intraoffice disputes over commissions. Acknowledgment Form. Ask salespeople and staff to sign the form to confirm that they’ve received the office policy manual and understand company policies. As you determine what to put in your manual, you also have to figure out who will write it. Your best option depends on the size of your budget and whether or not you already have a core manual from which to draw. The best way to start writing a policy manual is to purchase one and revise it to meet [your] needs. It’s necessary to have an attorney review the document before it’s printed and distributed to staff. Your office policy manual should be attractive and user-friendly. It shouldn't be a chore to read. That means using clear, concise, and uncomplicated language. Let someone else read the manual and ask for feedback; what’s clear to you may not be to a third party. Remember: an office policy manual is a living document. Develop a maintenance plan to keep it accurate. Update the policy manual as laws and the organization's priorities change, and schedule regular reviews of the manual and update accordingly. Ameen Ahsan Strategy Consulting "where visions are realised" 7th Floor, Hi Lite Business Park, Calicut http://www.ameenahsan.com +91-7558-900-800 info@ameenahsan.com *Kerala's finest experts for Feasibility Studies, Strategy Reports / Project Reports, Business Models and Vision Realisation*
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Why Vision Planning is important before designing or planning a Commercial Real Estate or Township Project?
By *Ameen Ahsan Strategy Consulting* The commercial office space in India has evolved significantly in the past 10 years due to change in business environment. The growth of commercial real estate has been driven largely by service sectors, especially IT-ITeS. Previously commercial properties were concentrated towards CBD (Central Business District) areas in large cities. However, with the emergence of IT-ITeS, which had huge office space requirement, commercial development started moving towards city suburbs. It resulted in multifold development of city outskirts and suburbs. Demand for office space is directly linked to addition in number of employees, which in turn is dependent on economic growth. When economy slows down, companies hold their expansion plans leading to lower demand for office space. When desiging commercial spaces that are aimed companies and startups looking for an office space, it is important that the designer or the promoter has a vision in mind. If your mission statement represents the beginning of your journey, then your vision statement is the destination. A vision statement is sometimes called a picture of your organization in the future, but it's so much more than that. Your vision statement is your inspiration, and the strategic planning framework for all your operational planning. What you are doing when creating a vision statement is articulating your dreams and hopes for your company, as well as establishing a strong foundation for your strategic planning framework. It reminds you of what you are trying to build and the time frame in which you are trying to build it. While a vision statement doesn't tell you how you're going to get there, it does set the direction for planning. That's why it's important when crafting a vision statement to let your imagination go and dare to dream — and why it's important that a vision statement captures your passion. Lack of clarity in Vision would mean your commercial spaces finding no takers! So what do you think of today’s post? Please share your views and experiences! *Ameen Ahsan Strategy Consulting* "where visions are realised" 7th Floor, Hi Lite Business Park, Calicut http://www.ameenahsan.com +91-7558-900-800 info@ameenahsan.com *Kerala's finest experts for Feasibility Studies, Strategy Reports / Project Reports, Business Models and Vision Realisation* Why Customer Segmentation is necessary before designing or planning a Commercial Real Estate or Township Project?
By *Ameen Ahsan Strategy Consulting* These days we come across advertisements featuring huge township projects and commercial real estate. Due to the faster pace of Urbanization Township projects and Commercial real estate deals have had a huge surge in our markets. Today the demand for townships have increased because townships projects come with a package of living spaces, shopping spaces, play areas, schools, eateries etc making it a very habitual place for the general public who wish to live in the midst of all the facilities. Everyone is interested in living a lifestyle of a global citizen. Commercial Real Estate and Township projects are usually undertaken by large worthy business people as it requires good financial backing. When designing and planning such projects it’s very important for the investor to segment his customers so as to cater to their needs and wants. A Township or a Commercial Real Estate project would have to cater needs and wants of different age groups, income levels, culture etc. It is very important to split potential buyers into different segments, grouping together those with similar characteristics which have similar needs. The aim is to identify true buyer needs, which can be combined together to identify the best segments on which to focus marketing efforts. Lack of clear customer segmentation can result in unoccupied spaces in Townships and the entire project being a failure. *Ameen Ahsan Strategy Consulting* "where visions are realised" 7th Floor, Hi Lite Business Park, Calicut http://www.ameenahsan.com +91-7558-900-800 info@ameenahsan.com *Kerala's finest experts for Feasibility Studies, Strategy Reports / Project Reports, Business Models and Vision Realisation* |
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