Staff training is one thing many real estate investing companies struggle with. It normally isn’t part of the original business plan, yet is critical for a smooth running operation, retention and maximum profit potential.
So how can you get better at getting staff trained, bolstering their real estate education and keep it all affordable?
7 staff training tips for real estate investing companies:
1. Start Right
Starting with trainable and coachable staff will make all the difference. When interviewing are they eager to learn and grow with your company and willing to conform to your ways?
2. Open Doors
Constantly be opening doors for your real estate investing staff to build on their education and knowledge. Suggest additional third party training, conferences and webinars and be willing to help share the costs or give the time off.
3. Let Them Run With it
In a recent interview Richard Branson said one of his best solutions for small business training was to let team members set their own grand goals and let them experiment.
4. Look for Affordable Alternatives
Will third party vendors come in to offer real estate education or tech training for free? Can you save by bringing in a trainer for a group rather than sending individuals out for it?
5. Make Them Train Each Other
As the head of a growing real estate investing company you have better and bigger things to do. Have staff train each other.
6. Constant Progression
Have them constantly training for the next position up. It’s cheaper, makes for easier transition in a crunch and means never being left in the lurch or having deals jeopardized.
Document everything the first time, create systems for everything and make available for them to access and learn on their own.