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Real Estate Business: Do Job Titles Matter?

by blogger1
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on Thursday, 11 February 2021
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If you want to get the best results from your real estate investments and business, can putting a little more thought into your job titles make a big difference?


Investors often overlook many of the great value adding factors that come with building a real business. That includes branding, business credit, and job titles.


Real estate business owners and investors often don’t give any thought to the job postings or job titles they are offering, and that could be a huge and expensive mistake. It can definitely impact competitiveness and operation costs. It is true that there may be some legal limitations regarding executive titles, especially in licensed businesses, though there is a great amount of freedom in this area. It is wise to use it.


Attract Better Talent For Less Money

Job titles are a powerful tool for attracting better talent for less money. It is always the best team that wins. Though if you are marketing just for low level assistants and admin staff, you are going to get a much lower quality worker than if you are hiring for ‘Customer Experience Manager’ or ‘Office Manager’, even though they perform the same work. Some people will work for a lot less money, in order to get a good job title. A title that costs you nothing to hand out.


A Free Way To Give Promotions

If you can’t give team members big pay raises, you can at least move them up in title. It costs you nothing to hand out, but can mean the world to them in feeling valued and creating loyalty and keeping them performing. Of course, if you can give them a small rise or bonus with that, it is even better.


Maximize Team Member Performance

Job titles keep people focused on their real role, mission and KPIs. If you want them to wow your customers rather than just answer the phone, make them Champion of Customer Happiness. If you want them to grow your business, rather than just maintain the status quo, consider Senior Growth Manager instead of sales rep.


The Management Burden & ROI On Hires

The job titles you advertise and hand out can make all of the difference in how you have to manage people, what that costs you in your own time, and how productive they are on their own.


Do you want them to think, be proactive, free up your time and take ownership? Or do you want them to just be assistants filling a seat on the clock until you give them their next task? Which is more profitable to you?

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