When you’re looking to improve the cash flow at your agency, you have two main options: increase the money coming in or decrease the money going out. However, while we might believe that we can generate more income, in reality, the market decides. The only aspect that is truly under your control is your expenses.

For many modern real estate outfits, especially those with a franchise agreement and a physical space, there are plenty of opportunities to reduce agency operating costs while still delivering the same great service to your clients.

Before you start work on reducing your costs, it pays to know exactly what you’re spending ‒ and where. Setting up a spreadsheet with all your annual outgoings (as some payments will be one-off while others may be weekly or monthly) will show you what your expenses are.

From that list, you can see at a glance what the largest outgoings are and what can be trimmed. It could be that some of the most expensive items are the most valuable and least likely to be pruned. However, when you take the time to examine all your outgoings carefully, you might find that you can make cutbacks in the most surprising areas without compromising your level of service or your productivity.