Five Tips for Choosing the Right Outsourced Controller for Your Real Estate Business
As a real estate broker, you know that effective financial management is crucial to the success of your business. But if you don’t have the time or expertise to handle it all in-house, you may be considering hiring an outsourced controller. An outsourced controller can provide valuable financial support to your business without the need to hire a full-time employee. However, with so many options out there, how do you choose the right one for your business?
Here are five tips to help you make the best decision:
Look for experience and expertise.
The real estate industry is complex and is constantly changing. You want to make sure your outsourced controller has a deep understanding of the unique financial challenges you face. Look for a controller who has experience working with real estate businesses and who is up to date on the latest industry trends and regulations. It’s important to find a controller who has a strong background in the industry and can provide valuable insights and guidance.
Evaluate their communication style.
Your outsourced controller will be a key member of your financial team. It’s important that they have strong communication skills. Look for a controller who is responsive, proactive, and able to explain financial concepts in a clear and concise manner. Good communication is essential for building a strong working relationship with your controller.
Consider their pricing and value.
Price is always a factor when hiring any service provider. But it’s important to remember that you get what you pay for. Don’t just go with the lowest bidder. Consider the overall value you’ll receive, including the quality of their work, their level of expertise, and the time and resources you’ll save by outsourcing. Investing in a controller who can provide high-quality financial support to your business will ensure you can focus on your company.
Check their references.
Ask for references from past clients. Take the time to follow up and ask about their experience working with the controller. This will give you a good sense of their reliability, professionalism, and the results they’ve been able to achieve for other businesses. It’s important to find a controller who has a track record of success and can provide references from satisfied clients.
Don’t be afraid to negotiate.
If you’ve found a controller who seems like a good fit, but their pricing is out of your budget, don’t be afraid to negotiate. You may be able to work out a customized solution that meets your needs and budget. It’s always worth trying to negotiate terms that work for both parties.
In conclusion, choosing the right outsourced controller for your real estate business can make a big difference in your financial success. By following these tips and taking the time to carefully evaluate your options, you’ll be well on your way to finding the perfect fit for your business. An outsourced controller can provide valuable support to your business, helping you to manage your finances more effectively and achieve your business goals.
Need a referral? Visit JLW Business Advisors for a free consult.