Outsourcing has clearly become a must for real estate investing pros who want to achieve big things and bring in big money but common misconceptions and news ways of hiring often impede the progress of those newer to outsourcing.
Poor outsourcing practices can cost you big time and give your competition a big lead. Get on these 6 tips for more effective and profitable outsourcing for your real estate investing business…
1. Planning Ahead
Leaving your outsourced hiring and delegation of projects till the last minute is suicidal for investors. First off you wil probably find the best freelancers already booked, a sense of urgency often means paying more for the same work than otherwise and there is too little room for error.
2. “On-shoring”
Outsourcing offshore has been an extremely popular trend over the last few years. Low cost data entry and administrative assistant in exotic locations can still provide extremely cost effective help but with quality and service becoming more important many of the savviest real estate investing pros are outsourcing work to freelancers here in the U.S. for the best of both worlds.
3. Get Cloud Solutions
Invest in cloud computing solutions for file storage, sharing and collaborating to speed up communication and protecting data.
4. Stop Ignoring the Social Capital
Some real estate investing companies employ a huge number of remote workers, who to the nature of their work also have good sized social networks. This should be capitalized on. Every hire ought to be required to follow your social profiles and share your links on their. Of course it is only right you do the same in return.
5. Evaluating Provider Quality
Most of the major online outsourcing platforms have feedback and ratings systems for assessing the quality of providers you are considering hiring. However, one pitfall is that these systems rarely account for time in. That means a contractor could sign up, have a friend hire them for 2 min. and gain 5 star feedbacks. Instead of just watching star and number ratings, look at how long they have been members and how much experience they have. It’s a lot harder to maintain solid feedback for 2 years, than a day obviously.
6. Everyone in the Right Place
Another common mistake real estate investing companies make when hiring outsourced workers is overloading their freelancers and throwing them into new positions because they have been reliable for a while and did a great job on other projects. This overload can sometimes drive down their productivity and putting them in a position they are not comfortable with can sour the relationship. Put the right people in the right positions and make sure they can really handle the workload.
