As a real estate agent, you cannot count on any financial bailouts to save your business during this recession. These seven tips from an active real estate broker will help you cut your costs and make your business more efficient and productive:

1. Control your expenses.

While this sounds obvious, you would be surprised how many agents have no idea how much they are spending or what they are spending it on. No wonder: Realtors are often social animals, and delving into a heavyweight accounting program like Quickbooks is downright painful. For personal finance, I recommend a company called Mint. You can link your accounts in about five minutes, and since they only keep track of your finances (you can’t transfer or withdraw anything), they’re very secure.

2. Instead of advertising, try picking up the phone.

I learned this idea from Larry Kendall’s “Ninja Selling” course. His big tip: make 50 short calls to people you know each week and offer them valuable real estate information (sales in your neighborhood, market update, etc.). This costs you nothing and is probably the most effective thing you can do to generate more business. Try it for a month.

3. Use free online office software.

A relatively new phenomenon, several companies are now offering free software that can essentially replace Microsoft Office and other expensive office software. You can spell check, cut and paste, format your text, and do everything else the average writer would need online. As a bonus, your documents are automatically saved and stored online, so you never have to worry about backing up your files or what happens if your computer is lost or stolen. My favorite is Google Docs, which is part of Google’s web applications.

4. Use free or low-cost online transaction management software.

If you are looking for a quick way to differentiate yourself and provide excellent service to your customers, try using free or low-cost online transaction management software. There are several programs available and most allow you to add tasks, milestones, messages, upload documents, etc. Best of all, your customer can log in and view their listing or purchase status at any time. You save money by not needing a transaction coordinator, your clients love the transparency, and you save time because there will be fewer emails and calls back and forth.

5. Use free / low-cost online CRM software.

Most customer relationship management software, especially that designed for the real estate industry, is very difficult to use. Are some custom fields worth hundreds of dollars and hours of syncing and tech headaches? If you don’t think so either, try one of the many online-based CRMs that let you manage up to 250 contacts for free, with more powerful plans available for just a few dollars a month.

6. Use low cost online marketing instead of printing.

If you want to win more ads, you’ll need to differentiate yourself during the ad presentation. Consider creating free single property websites and creating free profiles on sites like Trulia, Zillow, etc., and posting your ads on Craigslist. These low-cost methods can help you get the word out while spending much less than a classified ad in a newspaper.

7. Consider working from home.

If you are an experienced agent and you are not yet doing so, consider working from home. You’ll save on transportation costs, those occasional lattes, and going out for lunch. Keep in mind that working from home is not for everyone, especially new agents or those who have trouble concentrating. New agents need the interaction and expertise of their coworkers, and those who can’t focus will lose more money than they save on lost productivity. Real estate is a great career, and the steps you take now can not only help you get through the recession, but can also put you in a prime position for the next recovery. Best of luck!