Real Estate Agency Principal / Real Estate Agency Licensee Onboarding Checklist

Real Estate Agency Principal / Real Estate Agency Licensee Onboarding Process

Are you looking for help setting up a staff orientation process so that when your new Real Estate Agency Principal / Real Estate Agency Licensee starts their role, they can learn about their responsibilities and your company as quickly as possible? Whether you’re keen to use buddy onboarding, want to automate your Real Estate onboarding experience or just need an onboarding checklist for your new Real Estate Agency Principal / Real Estate Agency Licensee, you’re in the right place. We’ve put together a sample Real Estate Agency Principal / Real Estate Agency Licensee onboarding checklist below and have created onboarding templates & resources to help.

Real Estate Agency Principal / Real Estate Agency Licensee Onboarding Checklist

1. Obtain Real Estate License: The new Real Estate Agency Principal or Licensee must first obtain the necessary license to practice real estate in their specific jurisdiction. This task is typically performed by the individual themselves, who must complete the required education, pass the licensing exam, and submit the necessary paperwork to the appropriate licensing authority.

2. Familiarize with Company Policies and Procedures: The new agency principal or licensee should thoroughly review the company’s policies and procedures to understand the expectations, guidelines, and protocols in place. This task is typically performed by the Human Resources department or a designated supervisor who provides the necessary documents and conducts an orientation session to explain the policies.

3. Understand Company Culture and Values: It is important for the new individual to understand the company’s culture and values to align their work approach accordingly. This task can be accomplished through attending company-wide meetings, interacting with colleagues, and reviewing any available materials that highlight the company’s culture. The responsibility for this task lies with the Human Resources department or a designated mentor.

4. Learn about Company’s Services and Offerings: The new agency principal or licensee should familiarize themselves with the range of services and offerings provided by the company. This includes understanding the types of properties the company deals with, the target market, and any specialized services offered. The task of providing this information typically falls on the sales or marketing department, who may provide presentations, brochures, or training sessions.

5. Review Existing Clientele and Relationships: If the new agency principal or licensee is joining an established company, they should review the existing clientele and relationships to understand the current business landscape. This task is typically performed by the sales or business development team, who can provide a list of current clients, their preferences, and any ongoing projects.

6. Understand Legal and Regulatory Requirements: Real estate is a highly regulated industry, and it is crucial for the new agency principal or licensee to understand the legal and regulatory requirements governing their work. This task can be accomplished through reviewing relevant laws, regulations, and industry guidelines. The responsibility for providing this information may lie with the legal department or a designated compliance officer.

7. Learn about Company’s Technology and Software: Real estate agencies often rely on various technology platforms and software to manage their operations. The new agency principal or licensee should familiarize themselves with the company’s technology infrastructure, including customer relationship management (CRM) systems, property listing platforms, and communication tools. The IT department or a designated technology specialist typically assists with this task.

8. Attend Training and Development Programs: To enhance their skills and stay updated with industry trends, the new agency principal or licensee should participate in training and development programs offered by the company. These programs may cover topics such as negotiation skills, marketing strategies, legal updates, and customer service. The responsibility for organizing and conducting these programs usually lies with the training or professional development department.

9. Establish Relationships with Colleagues and Support Staff: Building strong relationships with colleagues and support staff is essential for a successful real estate agency principal or licensee. This task involves actively engaging with team members, attending team meetings, and collaborating on projects. The responsibility for fostering a positive work environment and encouraging relationship-building lies with the team leaders or supervisors.

10. Develop a Business Plan: As an agency principal or licensee, it is important to have a clear business plan outlining goals, strategies, and targets. This task involves conducting market research, analyzing competition, and setting financial objectives. The individual themselves typically perform this task, with guidance and support from senior management or business development teams.

11. Establish Marketing and Networking Strategies: Real estate professionals rely heavily on marketing and networking to attract clients and build their business. The new agency principal or licensee should develop marketing and networking strategies to promote their services and expand their professional network. This task can be accomplished through collaboration with the marketing department, attending industry events, and utilizing online platforms.

12. Understand Financial and Accounting Processes: Real estate agencies deal with financial transactions, commissions, and accounting processes. The new agency principal or licensee should familiarize themselves with the company’s financial and accounting procedures, including invoicing, expense tracking, and commission calculations. The responsibility for providing this information typically lies with the finance or accounting department.

13. Establish Client Acquisition and Retention Strategies: Acquiring and retaining clients is crucial for the success of a real estate agency principal or licensee. This task involves developing strategies to attract new clients, nurture existing relationships, and provide exceptional customer service. The individual themselves typically perform this task, with guidance and support from senior management or sales teams.

14. Review Risk Management and Insurance Policies: Real estate transactions involve various risks, and it is important for the new agency principal or licensee to understand the company’s risk management and insurance policies. This task can be accomplished through reviewing insurance contracts, understanding liability coverage, and implementing risk mitigation strategies. The responsibility for providing this information may lie with the legal department or a designated risk management officer.

15. Set Performance Goals and Metrics: To measure success and track progress, the new agency principal or licensee should set performance goals and metrics aligned with the company’s objectives. This task involves establishing key performance indicators (KPIs), tracking sales targets, and regularly reviewing performance against set goals. The individual themselves typically perform this task, with guidance and support from senior management or business development teams

Setting Up Your Employee Onboarding Process

From reading through the items in the example Real Estate Agency Principal / Real Estate Agency Licensee checklist above, you’ll now have an idea of how you can apply best practices to getting your new Real Estate Agency Principal / Real Estate Agency Licensee up to speed and working well in your Real Estate team. Scroll up to see the link to our onboarding templates & resources or get in touch to discuss getting help setting up your systems and processes in this area.