You became a successful agent. Then you went on to build a successful team within your brokerage. The trend toward the growth of real estate teams within a brokerage is growing. In a 2018 survey, NAR found that a full 26 percent of respondents were members of a real estate team inside a brokerage. Of those who were not, a full 39% have considered joining or starting one. While teams can vary in size, the NAR study found that a typical team is 4 people and most members (80%) are licensed agents. Do you wonder what the next level of success is for you and your team? Perhaps you are ready to open a brokerage of your own?
It turns out that experienced, and successful team leaders have been developing many of the same skills and overcoming many of the same challenges that are required to be a successful brokerage owner. Some of these include:
What is Involved in Becoming My Own Broker? Broker requirements do vary from state to state and there are many online resources for getting specific requirements in your state. In addition to obtaining appropriate licensing, there are a number of things a new broker will need to navigate.
From Team Leader to Brokerage Owner with Weichert Not every team situation is a good fit for the transition to a broker, but if you are focused on even more success for you and your team, Weichert may be the solution you are looking for. For more information please visit https://weichertfranchise.com Original content posted on https://www.weichertfranchise.com/blog/your-real-estate-team-is-doing-great-whats-next/
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Of course, there is nothing new about the concept of using Facebook’s ad platform to try and attract new business, increase brand recognition, and build the overall size of a real estate brokerage. However, as the platform continues to evolve and become more sophisticated, fewer and fewer agents are using videos to take advantage of its tremendous power. While Facebook Ads can’t completely replace all other lead generation activities, they can be a valuable portion of your overall strategy. The key is being able to understand how to get your ads to stand out and capture the attention of the right people.
What Video Ads Should You Create? Just Listed or Just Sold- This option supplements direct mail as a way to let people know that you have a property that was just listed or sold. Create a stunning ad to show off your new accomplishment and use Facebook’s advanced targeting tools to get it in front of the local audience. Neighborhood Profiles- Show everyone that you are the local expert by creating a video that profiles various neighborhoods in your market. Include key details like what makes the neighborhood unique and the benefits of buying a home there. Testimonials- Testimonials are an invaluable marketing assets that truly help prospects feel more comfortable about working with you. When you complete a transaction, ask your happy clients if they would be comfortable filming a brief testimonial to share with other buyers and sellers about why they enjoyed working with you. Open Houses- Taking a video of a busy open house and the property is a fantastic way of getting more exposure for the property and showing future sellers how aggressive you are about marketing your listings. Real Estate Tips- Sharing interesting and actionable tips in an entertaining way are a great way of showing buyers and sellers that you are knowledgeable and eager to help them make the most of each transaction. Videos like these go a long way to building trust with your audience. Charity Work- Videos that show the community how well you work with charitable organizations build tremendous brand value and go far to illustrate that you care about more than commission checks. Who Should You Target with Your Ads? The target audience that you select for your video ads is just as important, if not more so than the content of the videos themselves. It is easy to overthink placement, but there are three main factors to focus on. Your Database- One of the best targeting options allows you to upload a CSV. file of your contact database and place your video ad in front of those people. This is an easy and effective way of staying on their radar throughout the year. Locals- Farming your area has never been easier thanks to Facebook’s capability of targeting people that live within a specific geography. This is particularly helpful for all of those “just listed” and “just sold” videos. Behaviors & Interests- In addition to being able to reach people based on where they live, you can also reach people based on how they are behaving online. For example, you can target people that are showing interest in buying a home and are trying to learn about your farm area. This is extremely helpful in making sure you’re reaching the right people rather than wasting money on “spray and pray” marketing. Bringing it All Together While you can’t depend on Facebook video ads to be your only source of lead generation or expanding brokerage awareness, you can develop results from videos with a limited budget. In fact, if you create high-quality video content for your ads and target them correctly, you can reach people for only pennies per impression. Being in business for yourself, doesn’t mean you have to go it alone. For more information about how to plug into the Weichert system, so you can always get answers to your questions on marketing and more, contact us today. Go to www.weichertfranchise.com. Original content posted on https://www.weichertfranchise.com/blog/using-facebook-video-ads-to-supplement-brokerage-lead-generation-activities/ As digital advertising becomes more and more essential and appealing to real estate agents to grow their business, many have stopped more traditional practices like holding open houses. The promise of quick and easy leads from online sources leave agents feeling like these more personalized experiences aren’t necessary. However, this couldn’t be further from the truth. When done correctly, open houses can increase an agent’s overall brand equity, be a powerful source of leads and still be the vehicle to move a significant percentage of your listings. Not to mention, in the age of online and tech focused competitors, more personal tactics like this can really set you apart. The key is to understand the correct way to prepare, host, and follow-up from each open house to extract the maximum benefit.
The Preparation An open house that is quickly thrown together without planning and marketing will yield disappointing results. If you want to maximize your traffic and exposure, you need to look at it as an “event” not an item to check off the list. Take to the streets with flyers and door hangers and promote it online. Get the word out to potential buyers, as well as neighbors with friends who may know potential buyers, that this is their chance to see the home. We recommend starting about a week before the event on digital sources and you should post pictures and related material on your social pages daily, leading up to the event. Think about how you can make this an experience for those who attend. It is important to keep track of all that needs to be done which is why agents should have a clear-cut system in place to stay organized throughout the process. The Open House Let’s say you’ve done all your preparation well; there is still significant promotion to be done the day of the open house. Be sure that all of your signage is out and visually attractive to capture the attention of people in the neighborhood. This is great low-cost advertising–even to those who do not attend! Seeing your open house signs week in and week out goes a long way toward building brand in your community and ensures you get the call when a consumer is ready to make a move. If the house is empty for a few moments, hop onto Instagram, Facebook Live, YouTube Live, and/or SnapChat to show people who couldn’t make it what they are missing. For those that do come through, make sure you have them sign in to capture their name and contact information, so you can follow up with them later. Make sure you ask them if they are working with an agent. If they are there to buy, there is a good chance they have property to sell as well. Make sure you welcome each guest and walk them through the home if you can. Make the most of their interaction with you–show off your knowledge, your professionalism and attention to detail. This is real estate marketing 101, but as a broker, it never hurts to remind your agents of the basics. Tech savvy brokers and their agents may even consider running digital ads the day of the open house, concentrated on a geography around the home. New advertising technologies such as “Geo-Fencing” and others, can target people on their mobile devices when they come within a radius of your event! The Follow-Up In addition to getting the listing sold, it is a primary goal to capture new buyers/sellers that aren’t already working with an agent. As soon as the open house is complete, it is important to follow up with the buyers that passed through the property within 24-48 hours of the event. A good real estate CRM is essential to this activity to keep follow-up organized and efficient. Even if someone is already working with an agent, it is important to follow up with them to get their insights about the property and learn what they liked or disliked so you can keep that in mind for your marketing efforts. For many brokers, organizing a comprehensive system of training, activities and supporting tools to help their agents make the most of every open house can seem like a daunting task. But when you team up with a brand like Weichert, all the work is already done for you. All you have to do is plug in and use the resources. From checklists and suppliers for materials to scripts, tips, and marketing templates, Weichert associates have access to everything they need to make these events successful. Weichert even provides the CRM to help manage and organize pre-event invitations and follow-ups. Weichert believes in the importance of personal connections and developing meaningful relationships with clients. Embracing face-to-face strategies like open houses are a key to doing this. It’s these types of strategies that generate human connections that will feed your sales production and create a pipeline of business for your brokerage for years to come. For more information about Weichert and their suite of real estate marketing tools and systems go to www.weichertfranchise.com or call us at 877-567-33350. Original content posted on https://www.weichertfranchise.com/blog/if-open-houses-arent-generating-leads-youre-doing-it-wrong/ Let’s take a glimpse back at realtor marketing in the 1960’s: mornings began with a meeting where realtors discussed and previewed new listings. Afternoons included real estate lead generation activities such as door-to-door canvassing and conversations with walk-in customers. Remember, two-car families were rare, and some homes didn’t have phones. Advertising was straightforward. Realtors handwrote a few ads and gave them to a secretary who placed them in the local paper on a rotational basis.
Fast forward to 2019: you face new challenges when marketing your brokerage. We live in a digital world where people order food, buy airplane tickets, and watch movies online. We’re connected to at least one device all day, every day. It’s not surprising that more than 90% of prospective buyers use online research throughout their home-buying process, according to a National Association of Realtors’ survey. Marketing your realty today includes more than advertising or a catchy slogan. Marketing encompasses all the activities you participate in to generate awareness and encourage engagement with your team. From business cards to billboards, yard signs to presence at community events, these are all part of an effective marketing mix to keep you top of mind and encourage clients to think of you first when they need a real estate professional. Balancing traditional marketing tactics, like advertising, direct mail with things such as open houses and digital advertising creates an effective mix of activity that puts you in more places, gives you more connection opportunities and creates a greater chance you will be seen by your target audience. Traditional Marketing Establishes Your Brand The strengths of traditional marketing efforts like direct mail, print ads, and billboards are noteworthy:
You can also use traditional marketing efforts to encourage engagement with your digital programs. Including your website and social media links give potential clients more information as they shift from a passive observer to an active seeker of your support. Digital Marketing Generates Real Estate Leads and Brokerage Awareness that Helps Connect Digital marketing adds power to your traditional marketing activities; however, it does not replace them. It supplements them. Digital marketing tactics like blog articles and online ads allow you to reach clients when and where they are online and ensure your messages meet their needs. Here’s what we mean:
Non-Advertising Promotion Then there are the activities outside of advertising that are just as important in promoting your business and connecting you with clients, such as lead gen programs, open houses, yard signs, participation in community events and hosting educational seminars. These are all tactics you need as part of your marketing mix to stay in front of consumers through a variety of channels and also provide the necessary ways to connect them with your services when they are ready to buy or sell. At Weichert, we teach the importance of engaging in a variety of activities to build brand in your local market. Our coaching team provides a roadmap and is available to guide you every step of the way. Through Weichert tools, systems and approved vendors, you’ll have a foundation on which you can build a solid marketing plan that works for your business. To learn more about affiliating with Weichert and building your brokerage, call us today at 877-567-3350 or contact our team today. Original content posted on https://www.weichertfranchise.com/blog/when-it-comes-to-marketing-the-mix-is-as-important-as-the-message/ In a world where people are constantly being bombarded with marketing messages, it can be very difficult to stand out and build a dominant brand. It’s important that your real estate marketing plan is multi-faceted and consumers see you in more than just one context. It’s not enough to justadvertise on Facebook or justsend out direct mail. A good real estate marketing plan includes all of these and one often over-looked component: community involvement. This is a unique way to connect with potential clients in your community without directly marketing to them. And if you do it right, you can attain amazing results. More and more, savvy real estate brokers are discovering that clients and their community appreciate seeing the human side of a business through its community involvement and can be a great start to building those lasting relationships. Here are some actionable steps you can take to build those relationships and leverage them to win more business.
Three Ways to Engage With The CommunityThe first thing you need to do is find simple ways of becoming more engaged with your community. The following three strategies will not only feel amazing for you and your team, but also make good business sense and will build a positive brand perception. Align Yourself with A Local Charity By choosing an official charity to support, you have the opportunity to socialize locally in a meaningful way. This works best if you select a cause that you and your team feel passionate about and is well-recognized by the community. Being a visible sponsor for an active charity is a great way to keep your brand in front of the community while making positive contributions. Hold Regular Workshops Become an educator by hosting local workshops. You will build the perception that you are both an expert and an ally. The time before and after these workshops will give you and your team the opportunity to answer and ask questions that can spark relationships which can lead to future business. The key to success here is to choose workshop topics that are relevant and valuable to your neighborhoods, such as Home Buyer Seminars. Participate in Community Events Is your town hosting a parade, race, festival or other event looking for sponsors? Sign up! It will be great exposure for you, show the neighborhood you care and usually includes an opportunity for your agent team to be out interacting with active members of the community in some capacity. Shout Out Your Good DeedsIt always feels good to give back, but it’s important to let people know about it! Promote your work and accomplishments in order to gain the valuable recognition your real estate team deserves. Here are some simple ways to do that. Press Releases to Local Media A press release is a quick way to get the word out to local papers, magazines, radio, and television stations that there will be an event of interest. Of course, your participation in that event will be included and will help to raise eyebrows about your involvement. Press releases work well before and right after events, but if are looking to drum up attendance, plan to send one prior to the event. Feature the Event in Instagram and Facebook Stories With Local Influencers If you want to maximize the exposure of your event or involvement, invite local Instagram or Facebook influencers to help you promote it. In most cases, if it is a charitable cause, they will do this for free. This saves you from having to pay for ads, yet will likely yield even better results in terms of brand recognition, followers gained, attendance won. Don’t have an influencer? No problem! Facebook and Instagram are still great outlets to promote your company’s involvement, both pre-event and post-event. Include the Event in Your Newsletter Have a weekly or monthly newsletter? Be sure to let your subscribers know about your activities. In fact, you should consider devoting an entire newsletter to explain the cause and why it deserves their support or why they should attend that particular workshop you have coming up. This helps to remind your subscribers that you aren’t just here to sell real estate but that you truly care about the community where you do business. Highlight Your Involvement on Your Website If you are frequently involved in events of your own or others around the community, create a news section on your website to promote this activity. Be sure to include as many pictures and videos of each event displaying your team hard at work. You could also include highlights from the events right on your homepage. Getting Involved Goes A Long WayBeing intimately involved with the community is a principle that Jim Weichert understood from day one of his real estate career when he handed out business cards at the local train station. As an experienced broker, you know that there is no replacement for the human-to-human connection. It’s also one of the most valuable assets to building a successful real estate brand. A franchise system such as Weichert coaches on best practices for building relationships, connecting with the people in your community and provides things such as PR services to help you promote your company’s news locally. If this is the type of brokerage support you’re looking for go to www.weichertfranchise.com or call 877-567-3350 to learn more. Original content posted on https://www.weichertfranchise.com/blog/get-involved-win-clients/ In the last 30 years, brokers have seen their primary means of selling and advertising go from newspapers and referrals to online or digital sources. According to NAR, almost 95% of homebuyers used a website to search for homes last year with 72% of those using a mobile or tablet app. What is equally interesting is the prevalence of mobile usage across demographics. Of Course 99% of millennials used mobile devices or apps to assist in their home search and 58% of them found the home they bought on a mobile device. Even consumers between 35 and 65 used their mobile devices for real estate research at a rate over 89% and roughly 40% of them found their home on a mobile device. Another interesting dynamic is that overall, 14% of all buyers found their real estate agent using a mobile device. Real estate agents have been on the front lines of the mobile revolution as well with over 90 percent of REALTORS® using digital or mobile devices on a daily basis. Despite this, REALTORS cite “keeping up with technology” as one of the biggest challenges for brokerages in the next two years. So how can brokers assess their use of mobile technology and insure they are keeping up with the industry? Common Mobile Strategies Going mobile in 2019 means more than just texting and getting email on your smartphone. The following guidelines are critical if you are to be effective, and want to appeal to the shifting demographics of both homebuyers and new agents you may be trying to attract. Here are a few things to consider:
Getting Up to Speed With Mobile It’s certainly a challenge for independent brokers, even if they are tech savvy, to keep up with and train agents on the best uses of mobile technology. That’s why brands like Weichert have put so much time and energy into figuring out and implementing mobile-focused digital strategies. Weichert.com recently completed a site redesign focused on providing an optimized mobile experience. It attracts over 3 million visitors a month and is key to the company’s digital strategy to attract leads to its Customer Care Center. Those leads are delivered to our brokers and agents in real time, on both their desktop and mobile devices and directly into our Weichert PRO CRM. The CRM features a mobile app which allows easy access to all features including client management, marketing tools, email and more. Weichert offers a mobile app to help agents stay on track with monthly production goals by allowing them to easily set and track their activities. In addition, Weichert places local Facebook advertising optimized for mobile users to help build brand awareness in its markets. Keeping up with technologycan be hard, but there are other solutions. By affiliating with a company like Weichert, you can take advantage of their vast resources for keeping up, so you can focus on managing your business. If you’d like to hear more about available Weichert resources and how they could benefit your business, contact Weichert today to learn more at weichertfranchise.comor 877-567-3350. Original content posted on https://www.weichertfranchise.com/blog/its-a-mobile-world-how-do-you-stack-up/ In the ultra-competitive market for local home listings, the pressure to discount commissions is ever present. Some brands in your market may even make the discounted commission their primary marketing differentiator while selling themselves as full service agents. How do you compete with that?
Is discounting simply devaluing your services or something you have to do to survive? Here is some insight from the online real estate marketing specialists at Weichert. Educating Clients About the Value of your Services If you want to keep your full commission, you have to sell the value of what you do for it, plain and simple. A 4% commission from the other guy may sound great, but we all know he’s cutting corners somewhere to do that. Yet for clients, cutting broker commission seems to be the easiest route to saving money – and in their heads, this makes sense because they often lack the insight into what it is that real estate agents actually do. Taking the time to keep the client informed of the services you will provide at every step of the way is key. These include, but are not limited to:
Technology plays a vital role in achieving this and is another area where you can show the value you add at full commission. As an agent, you have access to expert online marketing tools for real estate agents, a broker who is able to properly leverage the full power of their local brand and reputation, as well as a network of financing, legal, and construction professionals who you can recommend and help manage for your client. Transform the way you sell with industry-leading real estate coaching programs Built on the expertise of experienced brokers, technology specialists and real estate industry leaders, Weichert is focused on providing effective answers to the challenges faced by today’s real estate agents. From marketing strategies for agents and a cutting-edge lead generation system to the best real estate coaching programs in the industry, we provide all the solutions you need to build your business and succeed in even the most competitive climate. If these tools and solutions sound like a good fit for your brokerage or you would like to find out more about the Weichert system, please contact us today. Original content posted on https://www.weichertfranchise.com/blog/best-way-get-full-commission-2/ In the ultra-competitive market for local home listings, the pressure to discount commissions is ever present. Some brands in your market may even make the discounted commission their primary marketing differentiator while selling themselves as full service agents. How do you compete with that?
Is discounting simply devaluing your services or something you have to do to survive? Here is some insight from the online real estate marketing specialists at Weichert. Educating Clients About the Value of your Services If you want to keep your full commission, you have to sell the value of what you do for it, plain and simple. A 4% commission from the other guy may sound great, but we all know he’s cutting corners somewhere to do that. Yet for clients, cutting broker commission seems to be the easiest route to saving money – and in their heads, this makes sense because they often lack the insight into what it is that real estate agents actually do. Taking the time to keep the client informed of the services you will provide at every step of the way is key. These include, but are not limited to:
Technology plays a vital role in achieving this and is another area where you can show the value you add at full commission. As an agent, you have access to expert online marketing tools for real estate agents, a broker who is able to properly leverage the full power of their local brand and reputation, as well as a network of financing, legal, and construction professionals who you can recommend and help manage for your client. Transform the way you sell with industry-leading real estate coaching programs Built on the expertise of experienced brokers, technology specialists and real estate industry leaders, Weichert is focused on providing effective answers to the challenges faced by today’s real estate agents. From marketing strategies for agents and a cutting-edge lead generation system to the best real estate coaching programs in the industry, we provide all the solutions you need to build your business and succeed in even the most competitive climate. If these tools and solutions sound like a good fit for your brokerage or you would like to find out more about the Weichert system, please contact us today. Original content posted on https://www.weichertfranchise.com/real-estate-coaching/best-way-to-get-full-commission-know-your-value/ It’s a crowded real estate market out there. Between independent brokerages and national brands, there are a lot of options for agents and potential buyer or sellers. What’s going to influence their decision and make you stand out? Maybe it’s a good reputation for performance and service; maybe it’s how often they see your signs in the neighborhood or wherever they travel or how often they see you in advertisements. As an independent broker, how do you compete?
Recruit Effectively Agents are subject to the same perceptions as consumers when it comes to the power of a well-known real estate brand in their market. They may feel that the bigger the brand, the better the marketing, support and lead generation will be to better support their efforts and lead to greater earnings potential. What’s really important, though, whether you are affiliated with a big brand or not, is that you can provide value to your agents and offer a positive, supportive environment in which they can thrive. Equally important is having a recruiting strategy and the materials to attract recruits to you. You create value by providing them with tools, training and leads to help them succeed. Recognize their accomplishments. Encourage a culture of support and have a little fun! Demonstrate Your Value Sure, there are a lot of discount brokerage options out there, but that puts pressure on profitability. Consumers are willing to pay for full service, but it’s up to you to demonstrate all they will get for their money. Make sure you have a dynamite listing presentation that shows them everything you and your agents will do to sell their home. Make sure that you have the right marketing and online programs in place to support clients’ listings and purchasing needs. Provide references and testimonials of satisfied customers. Do what you say you will do, be responsive and over-deliver on your promises. Make sure your marketing materials are professional and impressive. People like to be part of something positive. Do all these things well and you will draw in buyers, sellers and agent recruits alike without having to give away the store. Build Your Brand You must spend time and effort to build a brand that reflects your brokerage values and services. To attract buyers, sellers and recruits, people need to know who you are and what you stand for. Here are a few suggestions for brand building:
Differentiate Your Brokerage Recruiting effectively, demonstrating your value and building your brand will help you carve out a place for yourself in your local market and stand out. It can be hard to do this effectively on your own. Fortunately there’s an easier way through franchise affiliation and not all franchises are alike. A franchise model like Weichert provides you with recruiting strategies, materials and support to effectively compete for recruits, provides materials and guidance for demonstrating your value to consumers and has the recognition and support of a national brand that you can easily plug into your market and leverage. If this sounds like something you could use to power your brokerage, contact Weichert Real Estate Affiliates, Inc. today to see how we can help. Call 877-746-2067 or learn more at weichertfranchise.com. Original content posted on https://www.weichertfranchise.com/real-estate-marketing-tools/differentiating-your-brokerage-in-a-crowded-market/ Think back to the real estate brokers you worked for when starting your career. What drew you to work there in the first place and what prompted you to stay or move on? Did you feel your input mattered or that no one cared what you had to say? Was there a real team dynamic or was it everyone for themselves?
As a broker, now is your opportunity to build the company culture you want. Whether you worked in real estate your entire life or started out in another industry, there are key attributes that make any business worth working for, including yours. Trust And Honesty Believability is important to success. Honesty and trust go hand-in-hand. Trust your agents enough to let them do their job of selling homes and provide the training and support for them to do so. Even as broker you aren’t expected to know everything but know how to get the answers. So, the next time an agent asks you a question you can’t answer, commit to researching it and getting back to them as soon as possible. And then make sure you really follow up. Use the calendar app in your phone or email to set a quick reminder for yourself. When agents see that their queries are important to you, it makes them feel valued and deepens your relationships. Respect Trust and honesty lead to respect. But it’s a two-way street. You must respect the agents that you brought on to earn their respect in return. This includes the young, inexperienced ones who may test your patience at times. Always be polite, actively listen and talk with your agents as equals. These agents, who you took the time to recruit, may provide you with a novel way of doing something that can set your brokerage over the top, which can only be learned through mutual respect. Recognition Recognize the talents and accomplishments of the team of agents you recruited. Did an agent close a particularly hard transaction or a new agent complete their first transaction by themselves? Announce it. Did they close a personal record-breaking deal? Give them a shout out. Let everyone know of their achievements. Recognition isn’t all about highest grossing or most transactions in a year. It’s also about general accomplishments and teamwork to help all agents—new and experienced—feel valued. Agents who know their contributions are valued strive harder to succeed. Support If your brokerage goes above and beyond to provide the right tools and techniques for your agents to succeed and properly trains them in the use of these tools, then word will spread that your agent support is exceptional. In turn, these support tools make your brokerage the go-to destination for recruits, saving you time and effort in both real estate agent recruiting and retention. Putting It Together Re-evaluate your brokerage to make sure you are creating a dynamic and positive culture that values your team as a whole, as well as individuality. Model by example and your agents will do the same. Build a solid team of agents with the right tools, techniques and attitude and you will stay competitive in your market. While it’s up to you to build a culture of trust and respect, there are easier ways to provide everything else than trying to keep up alone. Affiliating with a National brand, such as Weichert, who already has the tools and systems in place makes it easy for you to plug in and run. You get a wide array of agent training opportunities right out of the gate, for example, including sales coaching, weekly and monthly seminars, general industry trainings, online courses, technology training and more. Plus, leverage awards and recognition programs, sales tools and techniques and technology platforms. With all of these things readily available to you, you have more time to focus on your brokerage-building strategy. If you want to learn more about how Weichert can help your brokerage dynamics, contact us today: weichertfranchise.com or 877-567-3350. Original content posted on https://www.weichertfranchise.com/real-estate-agent-recruiting/the-right-ingredients-for-an-attractive-brokerage/ |
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