There are many things brokers can do to take their business to the next level, here are some quick tips to build a better brokerage moving forward in 2015.
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Hire Younger Agents:
Younger agents can bring a fresh perspective and ideas to your real estate business. Millennials have a very different way of looking at things, and can solve problems in innovative ways. They work comfortably in the digital space; social media, mobile marketing, and working paperless comes naturally to younger agents.This can make sure your brokerage has a solid digital presence moving forward, which is also great for attracting younger clientele.
If you want to attract hardworking talent, you should offer ways to further their real estate expertise. Offer programs to help continue their education. Webinars, online or onsite classes, are great ways to attract high-level agents to you brokerage and also keeps your current staff knowledgeable on industry trends and technology.
Make a tech investment:
Research has shown that brokers who invest in technology make more money when compared to agents and brokers who neglect technology in their business model. In a survey conducted by Inman News, 50 percent of agents with annual earnings over $100,000 said they spent more than $2,500 out of pocket on technology each year, while 25 percent spent $5,000 or more.
Diving head first into the digital space will save brokers money in the marketing space. Digital inbound marketing techniques, like social media and blogging, cost 62 percent less per lead than traditional marketing materials, like billboards, newspaper ads, and printed materials. Managing all of your files in the cloud can save you loads of physical office space for your agents.
The highest performing agents are already using technology to run their real estate business, brokers who integrate these digital systems should follow suite.
Have a tight plan:
Incorporate a SWOT into your business plan, which is an analysis of a brokerages strengths, weaknesses, opportunities, and threats. This will help recognize any opportunities and help fix or adjust any perceived weaknesses.
A SWOT can also help brokerages identify and set clear goals for the business, and a game plan to help achieve these goals.
Have any other tips for brokers looking to expand their business? Drop us an email and share your tips and we will feature you in a future blog.