If you’ve decided to strike out on your own as a solo practitioner, you’re in a unique position. The shots are all yours to call, the victories are all yours to claim, and the mistakes are all yours to make. It’s more than possible to build a solo practice in the field of real estate law that affords you a good living, as well as a healthy work-life balance, but achieving that state is no small feat. Especially when you’re starting out, you may be earning a smaller overall salary than your former classmates who work at larger firms, but you’ll probably be working fewer hours. If you plan those hours carefully, you’ll earn more on a per-hour basis and have time to spend with friends or family, doing the things that make working worthwhile.
Position Yourself To Win Better Business
Now that the mortgage industry is settling after the implementation of TRID, expectations and market demands are beginning to rise, with lenders and buyers wanting faster turn-around from everyone involved in closing their transactions. Consumers in today’s market want shorter, less expensive rate locks, which means that doing your part to speed their work along while maintaining a high rate of accuracy places you in a position of greater demand.
Plan Time For Marketing & Business Development
After the years of education required to become an attorney, it can be frustrating to find yourself in the position of needing to spend a significant portion of your time on marketing and business development. It seems counter-intuitive to block out time that could be billable to take on overhead tasks like these, but if you skimp on them now, you’ll pay for it later. Build a clear path to a more profitable future by setting aside dedicated time for marketing and growing your base of clients and referrers. You may already be working 60 hours a week…and what about that work-life balance we were just talking about? You can carve the time for growing your practice out of the time you already spend in the office by streamlining your workload.
Tame The Time-Sucking Tasks
You can both streamline your workload and boost your accuracy and compliance by using electronic documents and a digital suite like EasySoft Real Estate Closing Solutions to tame time-sucking tasks. Enter each transaction’s data once and use the relational database to automatically populate the forms you select. You’ve already saved time in generation, forms update automatically if you update the database entry, and you’ve reduced the chances of human error that could require the work to be redone.
Using electronic forms and communications is undoubtedly more efficient, but for some, the question of security is a stumbling block. Using BeesPath ClosingBridge gives you a way to transfer data and documents and communicate instantly with everyone involved in the transaction you’re working on. You get faster results, which helps you speed your clients toward a faster closing, while leaving you time to work on building a bigger and more profitable business.