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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7/17/2018 Franchise Success Spotlight Profile: Weichert Affiliate Beth Dickens—Weichert, Realtors® – Team RealtyRead NowNot more than 25 miles northwest of Fort Worth sits the charming rural community of Springtown, Texas, where long time affiliate Beth Dickens runs Weichert Realtors – Team Realty. With a population of close to 4,000 and within commuting distance to downtown Fort Worth, Springtown has seen its fortunes rise slowly over its rich, 160 year history. Housing in Springtown and throughout Parker County represents a rural, farm and ranch lifestyle that Beth Dickens has called home since she was a child. “As a girl I had a doll house.” she remembers, “I would pretend to try and sell it to people. I guess I was born to be a real estate agent.” After years as an agent Beth and her business partner Lorene, finally opened Team Realty as independent brokers in 1998. The pair did moderately well, but Beth recalls the constant challenge of recruiting and keeping new agents. “We went from 5, to 10, then back to 5 again, we just couldn’t get to that next level and sustain it. It’s hard for an independent in a rural market with so many other well-known brands around.” Over the years Beth and Lorene had flirted with the idea of affiliation with a national real estate brand and had entertained pitches from RE/MAX, Coldwell Banker, Century 21, Keller Williams and others, but hadn’t really felt compelled to make a move. But in 2007, someone from Weichert® came knocking on their door. The Weichert story felt like something different. “The sophisticated Weichert internet presence and reach was quite amazing to us. There’s no way an independent can compete with that kind of investment and those kind of systems,” notes Beth. What appealed to her was the Weichert internet marketing approach that brings over 40 million visitors a year to their website from around the country. Leads are routed to their call center and calls are carefully screened by trained operators and sent to live agents typically in under 2 minutes. There was, however, another thing they both noticed in their dealings with Weichert that was equally appealing–their ethics. This was the first franchise team that really made Beth and Lorene feel like they cared about their success as a brokerage and as individuals. At the time of these discussions, they were actually on the verge of opening another office, but Weichert asked them not to. “This was Weichert walking away from money because they felt we needed to be more successful out of the one office we had before we started another one. That really impressed me”. Beth & Lorene had about 8 agents when they joined Weichert and Beth admits that some of them were worried about the affiliation. “A few people got hung up on the fees”, says Beth “but the great majority of them saw that it was better for them long term”. Getting Up To Speed With Weichert And so Beth and Lorene signed on with Weichert in 2007 and became Weichert, Realtors® – Team Realty. Joining the partnership was both a relief, and the beginning of exciting changes in their professional life. It was a relief in that the Weichert coaching team, and its proven systems had the answers to so many of the growth and business development challenges they had struggled with as an independent agency for years. It was also exciting as Beth and her husband bought Lorene out in 2008 and dove headlong into the Weichert training and systems. Almost immediately, they noticed an odd thing when they put the Weichert sign on the building. “Suddenly recruiting got a whole lot easier,” Beth recalls. Starting with about 6 agents, in 2007, Beth and her husband slowly built up their team, following the Weichert Methodology. Change is Good….Really. Beth and her team loved the training and coaching opportunities afforded by the new relationship and embraced things like Weichert University, Weichert Management Academy, and new Weichert systems and technology. Beth describes Weichert’s listing presentation system, “DOORS”, as a game changer. Not only is it automated online and easy to create, but it is homeowner centric not brokerage focused. Beth notes that the “price trend analysis” provided by Weichert is also so much better than the simple comparative market analysis they did previously. The combined effect of better training, better materials, better data, and a solid brand affiliation created a noticeable improvement in their closing rate. Another way in which Weichert was different is in their processes around running open houses. In an internet age where so many agents will tell you “open houses don’t work” or “they’re just for the seller”, the comprehensive Weichert process around running open houses really works. Everything from signage, to balloons, door knocking, and all the online and printed material that goes with it are covered by the proven Weichert open house management system. But the proof is in the results: Beth’s team sells at least one house per month from leads that come from her agents’ open houses. Results Weichert, Realtors® – Team Realty has just moved into their second decade as a Weichert Affiliate. Starting from their modest single office with 6 agents, Beth has indeed opened that second office, and boasts a staff of 28 agents serving the rural farm, ranch, and residential markets surrounding Fort Worth Texas. But most impressive is her top line growth. Beth has overseen the growth of Weichert, Realtors® – Team Realty to more than 20 times the revenue they had before they joined Weichert. To hear Beth tell it, “These folks have done for me everything they said they would do. If they told me I had to stand on my head to sell more houses, well I’d start yoga lessons tomorrow…” The Weichert Way Being a Weichert affiliate is a partnership, a collaboration, done with great respect for what you’ve already achieved and learned. After all, you’ve already built a successful business. We can help you do more For more information on becoming a Weichert Affiliate, call 1-(877) 746-2067 or visit www.weichertfranchise.com. Original content posted on https://www.weichertfranchise.com/blog/franchise-success-spotlight-profile-weichert-affiliate-beth-dickens-weichert-realtors-team-realty/ There are many social networking sites that can contribute to lead generation within your brokerage. Most brokers and agents are already using Facebook, Instagram, and Twitter, but LinkedIn is probably one of the best, yet most underutilized lead generation sites. According to HubSpot’s recent survey of 5,198 businesses, LinkedIn provides almost three times the lead generation potential of either Facebook or Twitter. LinkedIn had a lead conversion rate of 2.74% to Facebook’s 0.77% and Twitter’s 0.69% rates. In the world of digital marketing metrics, this difference is significant. If you are broker who has been largely ignoring LinkedIn as part of your marketing strategy, here’s five things you can do right now on LinkedIn to add this important funnel to your overall lead generation strategy.
1. Complete Your Company and Personal Page Profiles This is an important activity for the Broker to complete on behalf of the business. Start or fully complete your brokerage company page. Make sure it is tied to your personal LinkedIn profile and keep the look of it consistent with your other branding. A company page allows you to showcase your brokerage in many ways by publishing content on it. Encourage your agents to have a LinkedIn presence, as anyone who clicks on the brokerage logo from any of your agents’ pages will be directed to your company page. You only have a few seconds to make a lasting impression on each viewer, so choose your words and visuals wisely. 2. Add A Professional Banner To Your Profiles A large graphical banner is now an option on both your company page and your personal page. Don’t leave it blank like so many do. Spend the time to create an image that shows your brokerage’s unique characteristics and conveys why you are the go-to brokerage in your local area. Keep the banner simple and easy to read at a glance with a minimal amount of text. Take care that it is fully visible on your profile once uploaded as LinkedIn will overwrite parts of it with other graphics. 3. Connect, Connect, Connect If you’re just getting started on LinkedIn, getting connections is your #1 priority. You can send connection invitations essentially to everyone you know (who is on LinkedIn), and everyone you’ve ever done business with. Later through searches, you can connect to people who you would like to do business with. The more connections you have, the more visibility the content you syndicate will have (ie. Walk through videos, Listing Updates, Local Market updates, etc.) One note here, don’t use the generic LinkedIn Invite. Take the time to craft a personal invitation to connect, and make sure to send a thank you follow-up if they do. 4. Most Companies are on LinkedIn Almost every large company has a profile on LinkedIn. Use this fact to your advantage by doing something called “Circle Prospecting”. In this technique, you draw a radius around one of your listings that includes at least 5 mid to large sized companies in the area. Then using LinkedIn Search features, find lists of employees of those companies in your area. You can then reach out for a connection, or direct message them a video of your listing. You may find in some cases the HR or even the RELO Director (in larger companies) and these are excellent people to reach out to and ultimately make into first degree connections. Bottom line: People who work nearby, may want to buy nearby. 5. Repurpose Your Website Blogs as LinkedIn Content Many Brokers have understood the benefit of regular content production and already have some staff creating or curating content on a regular basis. Now let’s add LinkedIn to the list of places that you publish this content. Use the long form publishing feature of LinkedIn to republish the entire piece on your company page. Then have your agents publish links to it on their personal pages, expanding it’s reach. Make sure to monitor for comments and those who engage with the content are likely to be worthwhile business contacts. Use LinkedIn To Increase Leads Now With such a relatively high conversion rate, some time spent cultivating LinkedIn is a worthwhile activity for your agents and your brokerage. It will take some effort to engage consumers and get leads through LinkedIn, but having another source of quality leads isn’t an opportunity you want to pass up in your quest for growth. Of course, LinkedIn is just part of an overall lead farming strategy to bring leads directly to your team. At Weichert, we have an extensive and comprehensive lead strategy that all our affiliates have the ability to plug into. From tools and systems that work, to the support to help implement them, if you want to get to the next level of success, talk to our team to see what we can do for your business. Learn more at weichertfranchise.com or call 877-746-2067. Original content posted on https://www.weichertfranchise.com/blog/5-things-you-can-do-on-linkedin-to-increase-leads/ 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/ Millennials are entering the housing market and their priorities are very different from previous generations. As a result, many real estate agents are struggling to get in front of this segment and finding that their old methods of marketing and advertising aren’t working. Here are some tips from the real estate marketing and franchise leaders at Weichert.
Become the First Choice Real Estate Agency for MillennialsThe Weichert Real Estate Franchise system is evolving continuously, informed by hundreds of brokers as well as industry and technology experts across the country. We know what works when marketing to millennials, and our system transforms these challenges faced by real estate agents into opportunities for growth and success. With proven training, tools and support, our specialist team is here to support brokers and drive lead generation, growth, technology and provide ongoing, up-to-date guidance. 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/blog/attracting-first-time-homebuyer-selling-millennials/ |
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