A broker recently told us about his first ever performance review as a manager. “I remember my boss telling me that though I was very smart and energetic I had to learn to ‘let go of the bench’. It is a lesson I took to heart when I became a real estate broker.” This is great advice for all brokers and something we stress to the many brokers we speak to on a regular basis. And it’s not hard to see why.
For many brokers, such as yourself, the decision to open your own business simply made sense – after all, you’re experienced in the industry, have a great track record and know how a brokerage runs, so taking on the business side of things is just one more task. Except sometimes, it’s surprising just how much time it really takes. Running your own brokerage means recruiting your own real estate agents, real estate marketing, and managing it financially and administratively. When you are dedicated to seeing your business succeed, this often means you try to take on everything yourself. And if you don’t–or can’t–get something done, it doesn’t happen – and that doesn’t help your business. This is where learning to “let go of the bench” comes in. Developing the ability to delegate managerial and sales work properly is one of the keys to successfully running any business, but is especially true for brokers because so much of your time is spent is spent on essential, but non-sales related tasks. There’s no way you can multitask while running an open house, for example. Delegating not only means that you have access to additional people to take on certain tasks, it also means having access to people that you can trust to do those tasks properly. This is an essential part of the process of taking yourself from real estate agent, to effective leader of a brokerage, and having the time and resources to be able to put in place the plans, processes and support needed to build and grow your business. Without it, you risk being overworked and overwhelmed, and your business has trouble moving forward. How to Delegate Effectively and Turn Employees into Managers
At the end of the day “Letting go of the bench” is easier said than done. To do it properly you need a plan, a strategy for the cultivation and motivation of team leaders in your brokerage. You need discipline and a plan for managing at a different level and finally focusing on the things you need to. You need to have a system and a set of activities that if properly executed, will help you consistently meet your growth targets. It’s this type of process and tools that the Weichert System for Growth and our real estate coaching program provides. For more information visit https://www.weichertfranchise.com. Original content posted on https://www.weichertfranchise.com/real-estate-agent-marketing/develop-managers-brokerage/
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Successful real estate brokers and agents know that the key to building their business is in reaching the right buyers and sellers. Online real estate marketing specialists (experts?) say despite the prevalence of technology many agencies underutilize commonly available tools and techniques to make their agency and its listings more visible. Here are just five of the ways in which technology can be used to effectively market your real estate brokerage and your listings.
1. Social Selling for Brand Development and Increased Closings: In the old days, selling was all about newspaper ads, walk-ins, and referrals. But what many brokers and agents don’t realize is that each of these proven strategies has acounterpart in the internet world and its name is social media. While most agencies have a presence on Facebook or Instagram, they are often underutilized, misused or just plain ignored. An active social media strategy that includes elements of paid advertising, should be a part of every agency strategy in the new digital economy. This strategy should create credibility and visibility for the brokerage, as well as socialize key properties for increased local reach and online word of mouth. 2. Virtual tours: While not a replacement for a face-to-face meeting, virtual tours have become a staple in the real estate industry. However, their full potential has only recently been realized by brokerages looking to grow. They don’t require high-tech equipment – in fact, your staff can film it on a smartphone or tablet with ease – and they can be posted on social networking sites like Facebook and Instagram as well as your website, reaching your brokerage’s followers as well as their friends and connections with ease. This is not only great content for your brokerage’s social media followers, it helps build your company brand, promote feedback and advertise properties as well. 3. Mobile apps: While websites are incredibly popular with property buyers and sellers, mobile apps allow your brokerage’s real estate agents to interact with clients on the go through a simple, user-friendly format. It’s a vital tool for planning a route for visiting the show houses, conveniently looking up the details of a property, finding directions to a property and getting the details of the agent in charge of it. In this way, mobile apps work for brokerages by directly linking potential clients with your listings and agents wherever they are, making your brokerage and your real estate agents more accessible to potential clients and leads. 4. Real-time lead and contact management: The Internet allows us to instantly connect brokers, real estate agents, and clients, whether in the office or out in the field. A real estate CRM system designed specifically to meet the needs of the real estate industry provides your agents with the ideal online space to track and manage leads via smartphone or mobile device. A good lead program can be invaluable in driving new business to your agents and your brokerage. They key ingredients to a good leads program is that perfect combination of high-quality leads, coupled with quick response time to capture them. The ability for those captured leads to then feed right into your CRM—a bonus! Agents can then save client notes and emails automatically, helping increase their productivity and sales results. 5. Knowledge Sharing: For many buyers, the home buying process is a confusing one. However, your brokerage can turn this to an advantage by sharing information with sellers and buyers to build loyalty to your business and brand. Online home loan applications and queries help demonstrate the affordability of the property. Digital signature technology allows buyers and other parties to quickly and easily deliver, sign and return important documentation – all of which can be stored and processed online. The buying process can also be monitored online, showing the clients a timeline of the different stages of the buying process and where they are in relation to it. It helps them to track their property purchase and plan their move. Is there a specific tool to do this or is this something the blog is suggesting the brokerage/agents use email and other tools to do on their own? This not only makes your business more visible than your competitor’s, it directly increases efficiency and productivity, making the sales process smoother and faster than before. Want The Technology To Help Your Real Estate Agency Grow? Speak to Weichert To flourish, you want your team using the best real estate agent marketing tools and techniques. At Weichert, we utilize industry-leading technology, expert support, and real estate coaching programs to assist our affiliates in developing highly effective marketing strategies and implement efficient programs that maximize results. Keeping up with technology is a challenge for every broker, but we have the tools, training, and resources to help you without getting in your way. Contact us today at weichertfranchise.com for more information on our services or to see if the Weichert franchise model is the appropriate opportunity for your brokerage. Original content posted on https://www.weichertfranchise.com/blog/5-ways-technology-used-selling-real-estate/ 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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