Don’t be so fast to say “no”. If there’s one thing we’ve learned at Weichert, it’s that every brokerage is unique and that success is found in surprising places. So many of our most successful franchisees first told us they weren’t looking to franchise. It’s not always experience, knowledge, or having some great agents that makes a brokerage successful: it’s also the ability to develop, follow and execute a well-thought out and strategic plan. This is the key to making franchising with the right partner a successful, profitable and rewarding business choice.
Analyzing Your Readiness for Real Estate Franchising If you’re running your own business, you probably set certain goals for yourself. How have you been progressing toward those goals? Are you getting there as fast as you’d like? Or maybe you feel like you’ve plateaued and are looking for a solution to get you to the next milestone. If you fall into either of those categories, you might be ready to consider a franchise. It’s important to evaluate different franchise options and find out exactly how the process will work for your business. Will the services they offer meet your brokerage’s needs and align with your company’s goals and values. Another thing to consider is that no two franchise systems are created equal. Some, like Weichert, offer a high level of support, while others offer little more than their logo. Certain franchises ask for a significant investment, while others require less capital to become part of their brand. It’s all about understanding what you as a brokerage are getting for your part in the specific franchise that you are considering, and that means plenty of research. Not only should you be certain that you are going to get the growth you want, you should have a clear understanding of their services as they continue after your partnership, the expectations on both sides, and the reputation of the brand and franchising system itself. Finally, you need make sure your new brand will support you in your market. The best real estate franchises will respect what independent brokers have built and the following they’ve developed. These opportunities offer high level support, ongoing services and a level of security in challenging real estate markets. This kind of support has often meant the difference between surviving and not surviving for many businesses. From real estate CRM and marketing tools to real estate coaching, Weichert in particular, has always been a franchise ahead of the curve when it comes to offering brokerages effective tools and support designed specifically for business growth. To Join, or Not To Join a Real Estate Franchise Tying your wagon to a real estate franchise is a big decision that demands serious consideration on the part of any broker. But if you have a vision for your success that includes listening, learning, and working differently than your competitors, you just might be next Weichert Real Estate Franchise success story. Contact us at https://www.weichertfranchise.com for more information. Original content posted on https://www.weichertfranchise.com/real-estate-franchise/is-franchising-a-fit-for-you-2/
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As a broker, it may often feel as though you have a to-do list that is a mile long and always growing. Sometimes this can lead to neglecting things which may not be as urgent, but which are equally important and integral to the big picture of your brokerage’s success. For many brokers, team building exercises are one of those things that typically falls through the cracks. Brokers may view their agents as silos who mostly work independently or for whom such comradery has limited value. As everyone knows, growing a brokerage has constant challenges related to recruitment and retention. The fact is that team building activities are beneficial to you, your agents, and your overall mission of growth. So finding a way to incorporate these activities can be an investment in achieving that.
Here are a few of the benefits you can expect when you choose to engage in regular team building exercises:
According to research conducted during Gallup’s State of the American Workplace Survey, having a good friend at work can boost one’s engagement level by up to 50%. (1) Team building helps to foster those relationships. Here are five ways to build winning chemistry amongst your agents through team building exercises. Team Building Exercise 1 – Share The Mission Of Your Brokerage Of course, everyone working in real estate is hoping to make a good living at it. Selling lots of big homes, being a million dollar agent is the dream of every serious real estate agent. But your mission as a broker and the person responsible for helping achieve this has to be better than just “make a lot of money”. Helping people buy the home of their dreams is a tremendously positive and impactful service you provide. Your mission statement should reflect this. It should be formal, and it should be a collaborative effort between you and your team that you revisit periodically. It should include things like how you will present yourself to clients and the community, how you will treat your clients and partners, and how you will delight and exceed expectations at every step of the process. A jointly developed, “feel good” mission for your brokerage creates team cohesion around a common set of principles beyond “make a lot of money”. Print it and post it proudly in your office. Team Building Exercise 2 – Develop And Incentivize Mentor Relationships As agents are new to real estate and new to your team, they are usually in search of guidance and support from more seasoned agents that can show them the ropes. As a broker, your success derives from your agents continuously growing both personally and professionally so that they can close more deals. The larger you grow, the less time you will have to be able to offer that coaching to your agents on a one-on-one basis. Mentorships are valuable among your agents as it will save you from having to mentor each member of the team yourself individually. Develop a program in which more successful and experienced agents mentor new team members, welcome them, and help them become acclimated to your policies, practices, and strategies. Team Building Exercise 3 – Have Weekly Meetings and Awards Even if you believe in fostering a strong sense of independence in your agents, it is wise to keep all of them grounded to your overall success as a team. One way to do this is to bring the team together regularly for a fun, open discussion with some monetary reward and recognition for significant achievements. You may want to present them with fun certificates for them to display in their offices, as well as, gift cards or cash. Holding these meetings puts you out front as their leader and keeps you connected to the team in a more personal, fun way. Plus, the positive incentive will further reinforce your agents’ productions levels and loyalty. Team Building Exercise 4 – Sponsor Non-Sales Group Activities Of course, sales are a top priority to both your agents and to you as their broker. Without sales, nobody eats. However, bonding together as a team should not always revolve around driving more sales. One way that you can encourage more engagement amongst your agents is to sponsor non-sales activities. Ideally, you would do this for teams that achieve something significant such as attracting the most new agents to the team, developing a new streamlining process, closing the most sales for the period, or successfully incorporating a new technology. When you do this, other teams within your brokerage will take note that you are supportive of such healthy practices and become motivated to work harder themselves. Team Building Exercise 5 – Become Volunteers and Role Models In addition to creating a positive public image for your brokerage, your agents working together for a greater good is a powerful shared experience. Try to choose a cause that is meaningful to your agents, and in line with your brokerage’s values, to increase their engagement and participation. If you hold monthly meetings, present your agents with two or three options that are all aligned with your mission and will require your team to work together cohesively to move the needle forward for the cause. Then have them vote on the cause that they would prefer to support. Send out reminders leading up to the event and generate additional interest on social media. Following each charitable event, be sure to thank your agents, share the difference that they made, and highlight the importance of working together as community role models, not just real estate professionals. A Worthwhile Investment In Your Growth Some of these team building exercises are easy and simple to do, while others require more time to plan. Whatever time you can spend here however, is well worth the investment. As your team grows stronger together, your brokerage will become a place everyone wants to be a part of, and no one wants to leave. At Weichert, we offer support to our affiliates so they can accomplish many of these types of activities and strengthen their brokerages. National and regional Awards & Recognition programs, workshops and conferences, inspiration and public relations support for community involvement and one-on-one coaching to develop solid recruiting and retention programs are just some of the many things we provide. Ours is a people-first philosophy based on building and cultivating relationships, whether it’s a client or an associate. For more information on how to support your team for growth and continue to move forward, call 877-567-3350 or visit weichertfranchise.com. Sources: (1)http://www.gallup.com/services/176708/state-american-workplace.aspx Original content posted on https://www.weichertfranchise.com/blog/5-fun-ways-to-build-winning-real-estate-team-chemistry/ Don’t be so fast to say “no”. If there’s one thing we’ve learned at Weichert, it’s that every brokerage is unique and that success is found in surprising places. So many of our most successful franchisees first told us they weren’t looking to franchise. It’s not always experience, knowledge, or having some great agents that makes a brokerage successful: it’s also the ability to develop, follow and execute a well-thought out and strategic plan. This is the key to making franchising with the right partner a successful, profitable and rewarding business choice.
Analyzing Your Readiness for Real Estate Franchising If you’re running your own business, you probably set certain goals for yourself. How have you been progressing toward those goals? Are you getting there as fast as you’d like? Or maybe you feel like you’ve plateaued and are looking for a solution to get you to the next milestone. If you fall into either of those categories, you might be ready to consider a franchise. It’s important to evaluate different franchise options and find out exactly how the process will work for your business. Will the services they offer meet your brokerage’s needs and align with your company’s goals and values. Another thing to consider is that no two franchise systems are created equal. Some, like Weichert, offer a high level of support, while others offer little more than their logo. Certain franchises ask for a significant investment, while others require less capital to become part of their brand. It’s all about understanding what you as a brokerage are getting for your part in the specific franchise that you are considering, and that means plenty of research. Not only should you be certain that you are going to get the growth you want, you should have a clear understanding of their services as they continue after your partnership, the expectations on both sides, and the reputation of the brand and franchising system itself. Finally, you need make sure your new brand will support you in your market. The best real estate franchises will respect what independent brokers have built and the following they’ve developed. These opportunities offer high level support, ongoing services and a level of security in challenging real estate markets. This kind of support has often meant the difference between surviving and not surviving for many businesses. From real estate CRM and marketing tools to real estate coaching, Weichert in particular, has always been a franchise ahead of the curve when it comes to offering brokerages effective tools and support designed specifically for business growth. To Join, or Not To Join a Real Estate Franchise Tying your wagon to a real estate franchise is a big decision that demands serious consideration on the part of any broker. But if you have a vision for your success that includes listening, learning, and working differently than your competitors, you just might be next Weichert Real Estate Franchise success story. Contact us at https://www.weichertfranchise.com for more information. Original content posted on https://www.weichertfranchise.com/blog/is-franchising-a-fit-for-you/ The short answer is “yes”. The longer answer might be finding the right match. If you were motivated enough to get your broker’s license and start your own agency, then you probably know your way around your local market and the competition in the area. You were probably an above average earner as an agent, but decided you wanted the added reward of running your own business. You achieved your goal, but you also inherited lots of other added responsibilities from doctoring deals to making sure the trash is emptied at night. If you ever wished you had some support to get ahead of it all, you are not alone. In this day and age, where technology and marketing changes at the speed of light, it can be difficult to keep up. This is where affiliating and joining forces with a company who has already figured out systems that work and has the resources to keep up can help your brokerage go from surviving to thriving.
Here are three ways affiliating can bolster your business:
Why Affiliate with a Real Estate Franchise? Considerations for Real Estate Brokers In considering a real estate franchise partner, many things are important. Do I want to continue in my current business model? Am I determined to figure out my growth and marketing issues on my own? Do I believe a partnership with a recognizable national real estate brand can help me? And last, but not least, with so many options out there, who can give me the guidance I need without compromising what I’ve built and my ability to make decisions for my business? If you’ve ever asked yourself any of these questions, then perhaps you should be talking to Weichert. Contact us today at https://www.weichertfranchise.com/. Original content posted on https://www.weichertfranchise.com/blog/affiliation-really-value-joining-forces/ |
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