This Profit/Systems/People review is a full business review of the following:
It's the reason you're in business, you took the step from safety of a wage to work for yourself and employ others. Congratulations you are now a part of a group that employs over 40% of Australia's workforce or more than 4 million people.
You're in Real Estate, yes the money comes from selling houses and managing investment properties, but where does the profit come from, is it sales, property management, both or neither?
You go into business and try to do everything yourself, but you realise that you need people to help you grow. Then you begin to realise you don't just need people, you need good people and performing the right tasks and roles.
Commonly business owners will employ staff for a role that, may not actually be a fulltime position so that person starts doing other stuff! If the role is not fulltime, then it should be outsourced. We refer to this as over employment.
Staff can also be resistant to change within their work environment, especially when it comes to implementing possible systems and software changes to create better efficiencies, why? Because the feel that their job may be under threat, so they become an obstacle to moving forward.
It's not just software, but it certainly is a major part. We look at not just the software that's in place, but who uses it and how they use it. Real Estate businesses can have several different platforms which could be Sales and Property Management Trust and CRM (which may be all different) and financial accounts. This does not include other third party software that may plug into any of these existing systems.
Understanding how you make a profit, or why you are not is a vital part in creating a sustainable business.
What we do is take your financials and rework them into our proven industry targeted format, which will show you the breakdown of profit and loss by Sales division and Property Management. This is then put into a Management Report pack that is easy to read and understand, on one page.
Are they streamlined (are they on the cloud?) and full functionality being used. Are your staff able to implement full functionality and efficiency or are they to busy just doing normal day to day tasks?
We highlight these bottle necks and include recommendations on how to rectify.
By reviewing the People, we identify the role they were employed to do, what they actually do, how they perform and if their willingness to adapt and grow in line with the goals of the business owner/s.
All the findings from the Profit/Systems/People review are presented to the business owner in a face to face meeting, with a final report emailed out containing all the detailed findings.
If you want to gain these valuable insights into your business to help you build a more sustainable business of tomorrow;
Bookkeeping for business owners
When you’re starting out, you’re often doing everything and cashflow is tight, Live Real Estate Accounts provides an easy, flexible bookkeeping option for new real estate agencies.
Live Real Estate Accounts will help get your accounts set up and help you to manage your account during the important first years of your business. We’ll also help you understand your accounts, and keep you on top of things as you grow your real estate business.
We know that managing your growing real estate agency is a challenge. Our experienced bookkeepers take the hard work out of managing your accounts so you can concentrate on building your successful business.
As you grow, your Live Real Estate Accounts bookkeeper will grow with you. You no longer have to pay an in-house bookkeeper more days than required.
Established real estate agencies require genuine expertise. Live Real Estate Accounts provide real estate specialised bookkeepers that will become part of your team.
Our bookkeepers will help you gain a greater understanding of your business. They will provide specialised reporting to help you make the right decisions in your business.
Bookkeeping for agents
Saving You Headaches
As an experienced agent, you understand the value of expertise in the real estate market, so when it comes to your accounting requirements, don't try and do it yourself, think smart.
Our team of experienced accounts staff know real estate. In fact it's all they do. Live can manage the financials for you, provide the information you need and allow you to do what you do best - sell real estate
As Real Estate experts, we understand administration of your trust accounts is an important part of running your business. Our experienced staff can assist with reconciliation, roll overs, trouble shooting and increasing efficiency.
Helping New business
New businesses often find trust management challenging and once an error occurs, it can compound into a larger problem. For new businesses, Live can provide over site, reconciliations and month-end roll overs until the business grows to a point where a member of staff owns the full trust process. Even then, Live can provide support for reconciliation work, month end or just periodical review of procedure to ensure everything
is in order.
Helping New business
For mature businesses where an employee manages trust administration, Live can perform periodical reviews to review the trust administration processes and procedures. This can help identify any areas that may need attention prior to the annual audit. In addition, our independent review can identify potential improvements that can be made to improve efficiencies.
Live Real Estate Accounts give you the relevant insights to understand the real financial performance of your business. As distinct from financial reporting, management reporting provides insights on factors that are driving your businesses performance. It's not just about the numbers, but how the numbers affect business operation with consildated, easy to understand management reports specific to Real Estate.
As Real Estate experts, we automatically know what reports matter to you. Our team will review your financial data once your monthly/quarterly accounts are finalised and summarise the information you need to help make sound business decisions
Live Chief Financial Office (Live CFO)
Your accounts are in order, reports on the table but what does this financial data really mean? There is no shame in admitting you don’t know how to read your financial reports. After all, you probably cut your teeth selling property and managing your real estate agency.
Live CFO keeps you on track
With a Live CFO in your business, they’ll produce reports that are easy to read and follow. They will then present them to the business owner
providing valuable insights into the financial performance of your business. In addition, the Live CFO can adapt cash flow forecasting and budget to actual performance to keep you on track against KPI’s of listings, settlements and properties under management.
Saving You Money
Live Real Estate Accounts has provided consultancy services to the Real Estate Industry for 10 years and provided businesses large and small critical advice and insights to allow the business owners to implement and execute their strategic plans with greater confidence and clarity.
“Many business plans look good mathematically, but business is not about mathematics it’s about action”
Being at the coal face with Real Estate Agency businesses for over 16 years Chris Mercer CA, can leverage that experience and expertise to provide clear simple plans for Real Estate agencies that help provide action plans to achieve their objectives, this increases the power of the consultancy services for clients by showing how they can change the financial performance of their businesses, in deed not just numbers.
“Working with Chris really lifted the fog for me in my business planning, by asking me more questions about what I was setting out to achieve he got me to sit up and think again, and now I am much happier and clearer about where my business is heading” Greg Vincent One Agency
Real Estate Systems and Procedures
Systems reviews and recommendations by our senior Real Estate accounts experts, including Trust and General accounting requirements are also available. This is especially powerful for start-up agencies that have not had access to real estate expertise in getting their businesses underway, often to have an unpleasant shock at a later date.
Expert Workshops and Conferences
Often many business owners want to learn similar topics, so workshops and conferences are very useful in sharing the expertise of our business theory. The Live Real Estate Accounts team specialise at presenting workshops and conferences on Financial Topics, especially focused on profitability and business strategy.