As a real estate broker, you are no stranger to collaboration at many different levels. Building collaborative networks that are vibrant and mutually beneficial can be a catalyst for positive change and growth, when you have the right people on the other end. We live in rapidly evolving times and your ability to be successful can depend on getting the right guidance and advice, at exactly the right time.
Collaboration takes many forms in the real estate industry.
As a broker however, you also need collaboration at a higher level. You already know how to sell houses, but your challenges are more strategic, and business related. What’s the most effective strategy to get more leads for my agents? What technology will help me best run my brokerage? What CRM tools should I provide my agents for lead nurturing? What recruiting practices are most effective? How do I differentiate my brand? Collaboration and networking with other real estate professionals can provide good advice, experience, and opportunities in these areas. Collaboration For Brokerage Growth Challenges Broker growth issues and recruiting challenges benefit from the opinions and experience of other brokers, real estate coaches, and subject matter experts. For the independent broker finding people with such diverse experience who are willing to share, coach and consult is either rare, expensive, or both. Still, you owe it to yourself to establish a network of professionals who have proven success in one or more areas so that you have a support system for your growth roadmap. Consider some of the following activities to build your network: Networking Groups – Get involved with organizations like the Chamber of Commerce, LeTip, the local Real Estate Board, or participate in state Realtor events. These are valuable opportunities to network and meet like-minded professionals. Consider getting involved with them at a leadership level if possible. Complimentary business partnerships – Partner with related businesses or non-competing agencies. They will likely share similar challenges and can also serve as a resource for ideas or help you avoid mine fields they may have already encountered. Through your alliance you can refer leads or collaborate on events, such as a home-buyer seminar. Social Media Networking – Facebook and LinkedIn are actually excellent places to connect with non-competing brokers, and mentors. There are established real estate groups on these channels that you can join and whose discussion you can monitor and participate in. This is one of the most efficient and least time consuming ways to build out your network. Another Solution to Collaboration At Weichert Franchising, we’ve found that the desire for collaboration is one of the biggest reasons many brokers seek out a brand affiliation. It turns out that an affiliation with Weichert provides networking, coaching and training opportunities most brokers never dreamed of. In addition to the instant help with lead generation and recruiting, having a team of like-minded peers and industry experts who are always available and invested in your success is a powerful thing. At Weichert our affiliates get collaborative support in a number of ways:
Having positive, expert collaboration with the right people around the right processes and systems can be a huge sigh of relief for today’s independent brokers. Call the Weichert Team today and see how we can help you do more. Original content posted on https://www.weichertfranchise.com/blog/the-power-of-collaboration/
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You’re an independent broker who understands the real estate business. You convey confidence and know how to motivate others to be their most productive, but you need to stay fresh and relevant to get ahead of the competition. Set your sights even higher using these five habits for successful brokers adapted from Stephen R. Covey’s The Seven Habits of Highly Effective People.
Habit 1. Create New Opportunities As a tenacious broker, you get every job done. Being proactive and vigorously pursuing new opportunities is crucial for brokerage growth. Stay persistent and build new business, whether local or outside your area. Tap outside vendors, contractors, investors and builders for sales leads or partner with them for co-marketing opportunities. For instance, contract with a builder to list multiple units in a new condo conversion with your brokerage or maybe get a janitorial service you use to promote your brokerage on their company vehicles. Always remain proactive and in control while searching for new avenues of business and don’t be afraid to create your own opportunities. Habit 2. Have A Plan You obviously had goals to get you where you are today, so you understand how goals drive success. Leverage those goals by making them the focus of your daily habits. On a larger scale, use your carefully crafted business plan as a guide toward your continual long- and short-term goals. Factor in flexibility, which is important to making your goals come to fruition. Staying one step ahead by analyzing such things as market fluctuations, economic changes and technological trends and adjusting your plan early on are habits that can make your brokerage thrive no matter what comes your way. Habit 3. Work With Others To make your plan come to life, it takes a team. Build a mutually beneficial group of managers and administrators as a support team, as well as a team of agents that can help resolve problems based on legal, ethical and brokerage laws and procedures. They can become a sounding board for each other. Actively listen to and understand your support team and your agents to gain their respect, so they will listen to what you have to say, too. Accomplish more through good relations and outstanding synergy, which is easier than working alone. Habit 4. Be A Leader Having trouble letting go of management tasks that eat away at your time and stop you from taking business to the next level? As an independent broker, you’re not alone in letting go. After all, the brokerage is your baby. But can your goals really be achieved when you’re spreading yourself so thin? For optimum success, you need to allow yourself time to use your ingenuity and make your personal vision truly come to life. Step aside–it’s time to be a leader and let your trained support team manage the brokerage’s day to day tasks. Sometimes being a leader also means reaching out for help for the greater good of your team and for expediency. Having an expert coach or a network of trusted advisors is important. A common theme among experienced independent realtors is that they’ve “seen it all”. And yet when they go through the Weichert training as a new affiliate, a common reaction is “I just didn’t know how much I didn’t know”. A Weichert Affiliate gets lots of coaching and support from our expert team of industry professionals and other peer affiliates nationwide and this can become a priceless asset to growing your brokerage. Habit 5. Avoid Burnout If you follow the above four habits, you have created a more sustainable business model. Business is only part of life. Learn to balance your work and personal life to avoid burnout. That means taking time for yourself and your family to recharge your energy and renew your mind. Do things you love, take a vacation, honor family time, go out with friends, work out, practice mindfulness, keep learning and eat healthfully. Pursue community service to give back by donating time or money to a local cause. Schedule business and personal or family time separately to create a model that works for the long-haul and keeps you at your prime. Success is a Habit Get the expert coaching you need to actualize these five habits and build on your brokerage success. Learn more about becoming a Weichert Affiliate at weichertfranchise.com or call 877-746-2067. Original content posted on https://www.weichertfranchise.com/real-estate-coaching/5-habits-of-the-most-successful-brokers/ Your bustling independent brokerage is a testament to how hard you’ve worked to be known as an expert in your local real estate market. Still, it’s hard to keep up with new real estate laws, tax changes and the ever forward march of technology and digital strategies while running your daily brokerage operations. You can’t expect to know everything. That’s where having a solid support network of other brokers and real estate experts can really help. In fact, a Real Trends study indicates that independent brokers without a network do less in sales than brokerages affiliated with their larger franchised competitors who have broker networks (8.7 percent versus 10 percent or more of total sales transaction volume).
Your Broker Network Helps You Grow As a broker, connecting with others is an integral part of running a real estate operation. Having a tuned-in network of peers and industry partners to depend on is an invaluable asset when you need to keep up-to-date, seek expert answers, or require help problem solving. You may even find a mentor to help coach you toward better efficiency and a more rewarding, balanced life. These associations can also increase sales when you show your own knowledge and trustworthiness. Buyers and sellers may be referred to your brokerage and exclusive listings shared for faster sales. Broker Networking Strategies Independent brokers all face similar challenges that can be resolved together on national, regional or local levels. Different networking strategies get different results. Try a mix of these four ways to associate with other independent brokers and real estate partners and build your broker network:
Overall, broker networking is a challenge for the independent. This is where being part of an established national brand can give you a leg up. The right affiliation allows you to simply plug in and offers a sixth way to build a support network. Weichert affiliate Brokers for instance, enjoy a built-in broker network that connects them to hundreds of affiliates across the country. They enjoy regional and national opportunities to meet both virtually and face to face through events like our “Saw Session” workshops, regional Broker Council Meetings, Management Academies and national conferences, not to mention active Facebook discussion groups and advisory meetings. Plus, Weichert Workforce Mobility, our top-rated relocation company, offers affiliates the opportunity to qualify for relocation leads. Because we foster a community of support and sharing, members are very comfortable just even picking up the phone or emailing one-on-one to get advice, share ideas, bounce things around and share referrals. The family-like support that brokers receive as part of the Weichert system is one of the biggest reasons affiliates join us and stay with us. Get Expert Advice When you just don’t have the time to be an expert in every part of running your brokerage, having a network of peers and industry experts can be invaluable. But don’t just take our word for it, see what Weichert Affiliate Julie Fugate has to say about having comprehensive support.. Don’t feel like you have to go it alone. You can still run your own business while benefiting from an affiliation with a larger system. Learn more at weichertfranchise.com or call 877-957-9692. Original content posted on https://www.weichertfranchise.com/blog/six-ways-network-fellow-brokers/ 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/ 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/ 3/21/2017 Instagram Live & Facebook Live – Using Social Media for Real Estate Lead GenerationRead NowIt’s no secret that social media is an invaluable resource for building brands, generating leads and effectively marketing yourself and your services to potential clients – but what does this mean for real estate? And how can brokers utilize this resource properly? Here are some insights from real estate lead generation specialists at Weichert on two of the latest capabilities added to Instagram and Facebook, and how they are being used to market homes through social media.
Using Instagram Live For Real Estate Sales – A How-To Guide This is a new feature on the Instagram app that allows you to stream real-time video. Unlike Facebook Live, these videos are deleted after each session, but you can also send them directly to individual clients using a direct message function. Instagram is a popular destination for younger home buyers, so if you haven’t built a following there for your agency, you should. On Instagram there are three types of videos that you can create:
You can customize the settings for these videos to select who can see them, whether comments are turned on or off and even evaluate the video’s success through the analytics capabilities. Simple, easy to use and effective, this is great for announcing a new listing or service, promoting a photo montage of a listing or even bringing attention to sales that you have recently closed. Once you get the hang of it, it’s easy and you can do it spontaneously right from your cell phone. Try to get creative with this medium, for example, encouraging feedback on a listing’s elegant kitchen or kid-friendly yard. Using Facebook Live For Real Estate Sales – A How-To Guide Similar to Instagram Live, Facebook Live allows you to create and post videos to your Facebook profile. It’s great for encouraging engagement, as you can invite viewers to subscribe to your video feed, so they’ll automatically get a notification when you next broadcast. You can also select who sees the video and monitor comments and results. This service is more business-orientated than Instagram Live, as it allows you to edit your video, add a call to action and even utilize Ads Manager for additional visibility. Simple to use and very interactive, this is a great medium for sharing information on how to buy or sell a home, the latest news in your industry and even doing live tours of listings. Again, it’s important to get creative in order to engage your audience. Try showing off great neighborhood attractions in areas where you have listings, or tips on how to move on a budget. Make Social Media Work For You and Generate Real Estate Leads Social media networks offer exceptional real estate lead generation potential – if they are used properly, consistently and effectively. At Weichert, we utilize industry leading technology, expert support and real estate coaching programs to assist our affiliates in developing highly effective online real estate marketing strategies. 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 for more information on our services or to see if the Weichert Franchise Model is right for your brokerage. Original content posted on https://www.weichertfranchise.com/blog/instagram-live-facebook-live-using-social-media-real-estate-lead-generation/ 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:
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-know-value/ |
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