Running your own real estate agency and brokerage is a big step for most real estate agents, and one of the biggest decisions you’ll need to make along the way is whether to partner with a real estate franchise or go at it alone. Here’s some insight on your options.
What are the benefits and drawbacks of maintaining an independent brokerage? Choosing to go the independent route has both pros and cons for brokers. The main attraction is having complete autonomy – you aren’t answerable to anyone other than yourself. You can control the development of your own brand, find your own clients and you don’t have to pay any franchise fees. Sounds great, but being autonomous means that the burden of your success is entirely on your shoulders. All training, marketing strategies, recruitment, retention and growth is up to you. You are the deal doctor, the office counselor, the janitor, the first to arrive and the last to leave at night. It’s also up to you to research the latest and greatest lead gen technology or CRM and build and maintain your brand – a big task in a tough economy and a competitive property market. Trying to keep up can leave you feeling burned out and the investment required to stay ahead can end up costing you much more than a franchise fee in the end. What are the benefits and drawbacks of a real estate franchise? As you might expect, this can depend a lot on who you choose to partner with. While there will always be tradeoffs, affiliating does not have to mean “selling out” or giving up your business to big brother. With the right brand, you can tap into the power of a national system, but hold on to the great things you are already doing in your local market. Yes, affiliating with an established real estate brand usually means sharing your individual brand with the brand of the franchisor. In most cases this is a benefit, as the brand of a good franchisor will be more powerful and far-reaching than that of an independent agency. Our experience is that most brokers welcome this as part of the other benefits they receive by affiliating. You will still do business with the people who know you, but you will be able to open the doors to people who don’t. Control of your business typically remains in your hands, depending on the policies of your franchise agreement. A system like Weichert’s for example, was conceived by an independent broker, for brokers. It offers a full buffet of training, systems, sales and marketing tools that have been used successfully by hundreds of offices across the country. They are available for you to plug into your business to help you grow. We know they work, but at the end of the day it is up to you how to integrate our programs and systems into your business. Of course there are inevitably franchise fees, ranging from 6 to 10 percent depending on who you sign with. In the end, you must weigh the opportunity to improve and grow your brokerage vs. the time and dollar investment it will take to do it on your own. Ask yourself these questions: Can I get where I want to be on my own? How do the costs compare? How long will it take me to do it myself? Am I happy with my work/life balance? Am I effectively competing in my market? Can affiliation help me stay ahead? Can it help me reach my goal faster? Is The Weichert Franchising System The Right Opportunity For You And Your Brokerage? Critical to getting the most benefits out your affiliation with a real estate franchise is committing to the right franchise partner. Different franchise opportunities offer different operating models which can lead to different results. Some large, well known real estate brands for example, offer little more than their logo and branding to their affiliates. The Weichert Franchise System couldn’t be more different. Our affiliates are taught a system for success which includes all the elements of the modern brokerage including lead generation and technology for example. The Weichert system is a real estate franchise opportunity developed by real estate agents and brokers with the flexibility to work within each brokerage’s needs, rather than offering a less effective one-size-fits-all solution. We offer access to the most sophisticated national lead collection and screening technologies in the country to support high-value lead generation for your brokerage. Our formula for growth combines effective online and offline marketing tools with expert, one-on-one real estate coaching and training, and even a proprietary real estate CRM which integrates your brokerage and fosters our complete lead lifecycle methodology. This franchise offering is part of a practical, hands-on partnership that brings continual innovation and support to each franchisee and keeps your business moving towards your goals even in the toughest times. For more information on The Weichert Franchising System or the benefits of partnering with us through our real estate franchise opportunities, please contact us today. Original content posted on https://www.weichertfranchise.com/blog/franchise-vs-independent-real-estate-brokerage-finding-right-fit/ Best Real Estate Coaching Programs, online real estate marketing techniques, Real estate CRM, real estate franchise, real estate lead generation,
0 Comments
As a real estate broker, it’s expected that you know a lot about the business. The success of your brokerage is directly tied to your knowledge and experience. From picking a commercial location from which to run your business, to hiring new and seasoned agents, to marketing, you run it all. You keep abreast of changes in financial and real estate newstrain and carefully study market hot sheets each morning.
What New Agents Don’t Know But how do you impart your sales and marketing skills and expertise to new agents who may be eager, but still have a lot to learn? These fresh-out-of-school agents have a general real estate education, but don’t know the first thing about what it takes to work in the business—generating leads, doing a CMA, writing a contract or even basic marketing. By now you know what new agents consistently need to learn and can coach them on those topics. While teaching them real estate best practices can be a drain on your time, you understand that new agents can only be producing agents with the proper training. Taking the time to educate new agents toward success means they have a better shot at being the 13% who succeed, rather than the 87% that fail within five years in the industry*. But if you don’t have a dedicated trainer, where do you start? Create Q&A A question-and-answer format is a fun way to train agents new to the business. Create answers to the most often asked questions you’ve heard over the years. Keep your answers clear, simple and to the point to make it simple for agents to grasp the concept and easily act. Questions to answer may include:
Make Training Accessible Share your expertise with new hires in an accessible YouTube video or other digital platform. To make the information easier to learn, shoot a short video for each question. Doing a training video, for instance, is a good delivery method that frees up your time. You can create the material, upload and use it to train many agents with no extra work on your part. Just create updates as information changes. If you are lucky enough to be affiliated with a large real estate brand like Weichert, you may have access to some of the best real estate marketing tools in the industry like an online, e-learning center, which provides a wealth of material on important training topics. Best of all it is available 24/7. Motivate For Longevity Knowing how to attract and funnel leads, how to acquire listings and how to write a contract are all key parts of any real estate business. But, as all brokers have experienced, agents often have slow times or difficult buyers or sellers. Think back to what it was like when you were just getting started as an agent. What was that bit of wisdom, quote or daily affirmation that you’ve never forgotten and still use today? Share what keeps you going each day with your new agents to teach them the art of motivation. It will help keep them in the game for the long haul. There is of course, an easier way to train new agents that works around the clock every day, so you don’t have to–that is affiliating with a company who invests and provides you with these training resources. Weichert® realizes the relationship between education and success, and offers a full suite of training programs for new agents. These include an online university and ongoing interactive training sessions to get agents up to speed fast and keep them current with best practices. Call Weichert® at 877-533-9007 to learn more. *NAR Survey 2014 https://weichertfranchise.com Original content posted on https://www.weichertfranchise.com/real-estate-coaching/training-new-agents-tap-best-resource/ Bringing new real estate agents into your brokerage, can be an exciting part of growing your business. For a new agent that is eager to grow and open to new ideas, real estate coaching is essential in order to teach them how to create and cultivate leads and sharpen their sales skills to achieve their desired results. Some of these new agents will be young, working in real estate for the first time. These young agents can be a great source for reaching first time homebuyers and connecting with Millennials.
But let’s face it, whether they are new to your brokerage or new to the industry completely, they are going to need training and supervision to be productive and understand your unique systems for marketing and selling. Fast Track To New Agent Productivity To increase new agent productivity, ensure retention, and produce strong agents, brokers need to quickly train and reinforce best sales practices and proper systems in their new recruits. However, it can be a challenge as a broker to conduct individual training sessions, while trying to also manage a company. To achieve both goals, have a formal plan that includes an active and diverse set of training strategies. In addition to helping your new hire, these practices will become word of mouth for your brokerage and new agents will want to join you over others if the word is out that your training is the best in the area. Here’s a few tips from the professional coaches at Weichert: Assign A Mentor to All New Agents Some brokers do a few individual trainings, but expect the new agent will primarily learn the ropes from an already established agent. Seasoned agents often appreciate the extra help to further grow their business (and share commissions), while also imparting their knowledge and expertise as a new agent mentor. For consistency, set a timeline of goals for new agent productivity that includes occasional meetings with you. During each goal review meeting, discuss these results and how the new agent can improve. Setting these mutually agreed upon goals really is important to both you, and your new agent. Consider Supplementary Online Training Systems Some brokers who do not have good internal systems may bring in outside real estate trainers. While this can be effective, it is also an additional brokerage expense. As a less costly approach there are web-based coaching programs that you can investigate as a supplement to other personalized methods. These are cheaper than hiring a personal coach, but typically are very generic treatments of processes that may or may not be suitable for your business. The ideal situation is training that perfectly describes your business model, your processes, and your tools. Weichert training for example, provides online courses, scripts and other tools through their online University that directly support the proven processes and systems that Weichert gives their affiliates. They are highly specific and relevant to the operational model that has proven to be so successful for Weichert affiliated brokers. Build a Formal Training Program Many brokers create and present extensive real estate coaching agent programs which they have built over many years. It’s good to have something formal that defines how things operate inside your agency, and best practices as you see them, but this, too, can require a great time and resource investment to cultivate. One of the benefits of franchising is access to this type of sophisticated training. Weichert affiliate agents, for instance, have access to Weichert’s “Fast Track” training and live sales training sessions to quickly get new agents up and running with the tools and systems needed for long-term success in the business. Weichert agents and managers also benefit from ongoing weekly webinars and local mastery sessions which provide ongoing live training opportunities given by experts on many different topics critical to agent success. If you need to grow this yourself however, we recommend that each time you hire a new agent you chisel away at this kind of training material and enhance your training tools so that eventually you’ll have a living, working, comprehensive training program. Or you can plug into a system that is already developed for you through affiliation. Final Thoughts Real estate coaching for new agents doesn’t have to be difficult. It doesn’t have to drain the broker’s time or the company’s revenue. The best training programs are ones that achieve a balance between your time and expenses, and that contain multiple sources of training material, including hands-on coaching and online training. The best training is also the one designed to complement and support a proven blueprint for both agent and broker success. Getting and training new agents is the lifeblood of your success as a broker. You can do it yourself, or you can get a big assist from a franchise brand, such as Weichert. Speak with the Weichert franchise team today and begin to understand how effective a recruiting, coaching and agent training process can be for your brokerage. Visit https://www.weichertfranchise.com for more information. Original content posted on https://www.weichertfranchise.com/blog/tips-coaching-new-real-estate-agents/ Running your own real estate agency and brokerage is a big step for most real estate agents, and one of the biggest decisions you’ll need to make along the way is whether to partner with a real estate franchise or go at it alone. Here’s some insight on your options.
What are the benefits and drawbacks of maintaining an independent brokerage? Choosing to go the independent route has both pros and cons for brokers. The main attraction is having complete autonomy – you aren’t answerable to anyone other than yourself. You can control the development of your own brand, find your own clients and you don’t have to pay any franchise fees. Sounds great, but being autonomous means that the burden of your success is entirely on your shoulders. All training, marketing strategies, recruitment, retention and growth is up to you. You are the deal doctor, the office counselor, the janitor, the first to arrive and the last to leave at night. It’s also up to you to research the latest and greatest lead gen technology or CRM and build and maintain your brand – a big task in a tough economy and a competitive property market. Trying to keep up can leave you feeling burned out and the investment required to stay ahead can end up costing you much more than a franchise fee in the end. What are the benefits and drawbacks of a real estate franchise? As you might expect, this can depend a lot on who you choose to partner with. While there will always be tradeoffs, affiliating does not have to mean “selling out” or giving up your business to big brother. With the right brand, you can tap into the power of a national system, but hold on to the great things you are already doing in your local market. Yes, affiliating with an established real estate brand usually means sharing your individual brand with the brand of the franchisor. In most cases this is a benefit, as the brand of a good franchisor will be more powerful and far-reaching than that of an independent agency. Our experience is that most brokers welcome this as part of the other benefits they receive by affiliating. You will still do business with the people who know you, but you will be able to open the doors to people who don’t. Control of your business typically remains in your hands, depending on the policies of your franchise agreement. A system like Weichert’s for example, was conceived by an independent broker, for brokers. It offers a full buffet of training, systems, sales and marketing tools that have been used successfully by hundreds of offices across the country. They are available for you to plug into your business to help you grow. We know they work, but at the end of the day it is up to you how to integrate our programs and systems into your business. Of course there are inevitably franchise fees, ranging from 6 to 10 percent depending on who you sign with. In the end, you must weigh the opportunity to improve and grow your brokerage vs. the time and dollar investment it will take to do it on your own. Ask yourself these questions: Can I get where I want to be on my own? How do the costs compare? How long will it take me to do it myself? Am I happy with my work/life balance? Am I effectively competing in my market? Can affiliation help me stay ahead? Can it help me reach my goal faster? Is The Weichert Franchising System The Right Opportunity For You And Your Brokerage? Critical to getting the most benefits out your affiliation with a real estate franchise is committing to the right franchise partner. Different franchise opportunities offer different operating models which can lead to different results. Some large, well known real estate brands for example, offer little more than their logo and branding to their affiliates. The Weichert Franchise System couldn’t be more different. Our affiliates are taught a system for success which includes all the elements of the modern brokerage including lead generation and technology for example. The Weichert system is a real estate franchise opportunity developed by real estate agents and brokers with the flexibility to work within each brokerage’s needs, rather than offering a less effective one-size-fits-all solution. We offer access to the most sophisticated national lead collection and screening technologies in the country to support high-value lead generation for your brokerage. Our formula for growth combines effective online and offline marketing tools with expert, one-on-one real estate coaching and training, and even a proprietary real estate CRM which integrates your brokerage and fosters our complete lead lifecycle methodology. This franchise offering is part of a practical, hands-on partnership that brings continual innovation and support to each franchisee and keeps your business moving towards your goals even in the toughest times. For more information on The Weichert Franchising System or the benefits of partnering with us through our real estate franchise opportunities, please visit our website: https://www.weichertfranchise.com/ Original content posted on https://www.weichertfranchise.com/blog/franchise-vs-independent-real-estate-brokerage-finding-right-fit/ Business coaching is an essential investment for anyone looking for that competitive edge in their market, whether you’re a Fortune 500 company or an entrepreneur looking to break into the industry. Real estate agents are no different. In fact, due to the pressures this industry faces and an increasingly tough market, coaching is crucial to the success and growth of individual associates as well as agencies. Here are just some of the benefits that real estate coaching offers you and your business:
The best real estate coaching programs are developed by industry specialists with decades of experience behind them. They know what challenges you and your business are up against, and they know exactly how to deal with them because they’ve done it before.
Management skills are essential to any successful business, but staying on the top of your game means constantly refining your approach, discovering new opportunities and strategizing on how to close them. A real estate coach acts as your personal trainer, helps evaluate your performance, introduces new ways of thinking and streamlines your game.
There are plenty of tools and programs to help small businesses, but it’s important to invest in ones that are specific to real estate. Real estate marketing tools must address the challenges that real estate agents face day by day and month by month. The average broker will be faced with costly choices related to lead generation, real estate marketing, real estate CRM systems, open house management, direct mail initiatives, social media and other comprehensive property marketing resources—not to mention understanding the latest technology available. These tools can be expensive and it is often difficult to vet and assess potential performance. Careful consultation with experienced experts is a wise choice.
Many brokers have exactly what it takes to run their own business, but simply don’t have the training to put the right systems in place to build business, recruit effectively and manage day-to-day administration. Real estate coaching gives you the resources, training and expertise you need to transition from being bogged down to running a well-oiled property selling machine.
While access to real estate marketing tools is designed to increase high-value lead generation and increase sales, real estate coaching also opens you up to new learning opportunities. From access to local broker council meetings and regional rallies, to growth-orientated national conferences and teambuilding events your real estate business gets the opportunities it needs to network, receive valuable support, an ultimately harness your full potential. Want the Best Real Estate Coaching Program in The Country? We’ve Got It! The Weichert Real Estate Franchise System is more than just a brand for real estate agencies – it’s a comprehensive solution that combines decades of specialist experience with cutting-edge technology and up-to-date insight. With over 500 corporate and affiliate offices in 39 states, Weichert franchisees are proving the effectiveness of our system every day by transforming the way people buy and sell property. Joining the Weichert brand means access to essential resources for growing your business successfully, including expert, one-one-one real estate coaching, our real estate agent-specific CRM system, and industry-specific marketing and management tools. For more information, please contact us today and see if a Weichert Franchise is a fit for your brokerage. Original content posted on https://www.weichertfranchise.com/real-estate-coaching/benefits-real-estate-coaching/ |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. Archives
July 2020
Categories
All
|