Moncord Real Estate Professional Services helps real estate agents free up time by alleviating the administrative work. Whether it's managing daily tasks, communicating with key players, or monitoring milestones, Moncord takes care of it and empowers real estate agents to focus on their clients.
Moncord president Alex Mont-Ros founded the company in 2016, alongside his wife and CEO, Lisa Mont-Ros. Today, the power couple has helped agents close over $4B in transactions.
Wasting time and losing productivity
In the early days, Moncord relied heavily on transferring best practices and need-to-knows manually. "Our knowledge was passed through phone calls, documents, or even handwritten notes," he told us. "And we didn't have a formalized training process."
But once his team grew into more than just a few people, Alex realized they needed a centralized system to house all that knowledge. So, they leveraged Dropbox for documents and started running one-on-one training. "Whenever we brought on anybody new, we'd jump on a call, do a screen share, and maybe there'd be a document we would share."
At first, the new system seemed like an improvement. But Alex quickly realized it wasn't going to be effective. Ramping up transaction coordinators (the main role at Moncord) took way longer than the company could afford.
"Something that should take 60 days at most was turning into a sometimes 6-month endeavor," he explained. And the lengthy onboarding time meant they were losing productivity. Plus, the co-founders were wasting valuable time getting coordinators up to speed. "It was labor-intensive, time-consuming, not at all scalable."
Stumbling upon the solution
So, Alex read The E-Myth, a book on why most small businesses don't work and what you can do about it. (Spoiler: It's because most small business owners work in their business, not on it.)
That's when Alex had an ah-ha moment. For him and his wife to keep growing the business, they had to do more than store their knowledge. They had to find a system for sharing and scaling it, too. "[The DropBox system] wasn't going to keep working - especially the way we were growing," Alex reflected.
And coincidentally, around this same time, Alex stumbled upon a Trainual ad. But he was already somewhat familiar with the training tool. The author of The E-Myth, Micheal E Gerber, raves about Trainual because it allows business leaders to document and delegate. AKA get out of the business' day-to-day.
So, Alex did his due diligence, compared competitors, and quickly returned to his team with an answer. Trainual was the system they were looking for!
Rolling out Trainual to the team
The transition from Dropbox to Trainual was surprisingly easy. Moncord simply migrated the existing information over and filled in any knowledge gaps.
Alex said once they started tapping into the system, they were amazed at its capabilities. "We thought [Trainual] would be powerful. And [once it was implemented], we got huge praise from our employees."
To test the effectiveness of their Trainual content, Alex asked all current employees to go through their training again. Whether they'd been at the company a few days or a few years, he wanted to know what they thought and what the content was missing.
"With their feedback, we were able to iterate, make it better, and continue to expand on what we created initially," Alex told us. Then, Moncord was ready to solve their new employee onboarding challenge with Trainual.
Fully productive faster
Before Trainual, ramping-up transaction coordinators took upwards of 6 months. Now, new employees are up to speed and fully productive in as little as 30 days.
Not to mention, it used to be up to Alex and Lisa to train each new employee. But now, new employees can get up to speed on their own. And the couple has more time to focus on growing their business as their coordinators do the same for Moncord's clients.
"Now that we're able to put training videos, documents, and quizzes in Trainual, we can validate employees' understanding of the business." And if they see someone isn't getting something, they can pinpoint what needs to be reaffirmed or retaught. This high-level strategy has "given the leadership team a lot more time back."
Continuing education into the future
So far, the company has used Trainual to ramp up 9 new employees in record time. All without relying on manual processes.
Looking forward, Moncord is focusing on providing further development opportunities with Trainual. That way, they support employees' growth while positioning Moncord as an industry leader.
"Now that we have the onboarding dialed in, we're focused on continuing [our coordinator's] education," Alex told us. "We want to become a certified training company for coordinators, so we produce the best in the industry."