While every broker understands how important technology is to an increasingly younger home buying audience, managing the selection and use of technology in your brokerage can be a challenge to say the least. With real estate software vendors, advertising agencies, mobile apps, and website technology issues all competing for your time, it can be difficult to get traction on technology initiatives, or even know where to turn for reliable, impartial advice as to what to use, and how to use it.
Technology Management Is A Process
Often, it feels like there’s a new piece of tech or some hot new real estate marketing strategy coming out every day and brokers are trying to make sense of it all as they consider juggling their technology investments. What brokers must consider is that understanding and managing issues around technology does not require an engineering degree, but it does require a process. A process that can happen regularly, does not take a lot of time, and leverages resources that are truly experts in real estate technology.
The experts at Weichert recommend that you look at your brokerage’s technology on a regular basis. Look at your technology investments from a few different perspectives:
- Where am I spending the most money on technology? – You should consider your marketing spends on technology based advertising as a part of this analysis. (ie. Google Adwords, Trulia, Facebook Ads, etc.)
- What are the most labor-intensive activities inside my brokerage? – How much time does your team spend doing postcards, creating listing presentations, publicizing open houses, getting contracts together, following up with prospects etc.
- What solutions do I already have, and what are their weak points? Are they expensive? Hard to use? Collecting dust because your agents won’t use them?
- Leverage your Network as to what new solutions exist, who is using them, and is there a trusted resource to discuss them with? For instance, Weichert Affiliates have access to technology guidance through our training & support teams, regional coaches, and a network of peers that can share experience about what does and doesn’t work in our industry. Whatever your network is, leverage it heavily for opinions about useful technology.
- Is there a “techie” on your staff that you can charge with evaluating some of the new technology offerings? Some of the younger agents are great to tap for this as they are likely to have a more intimate relationship with technology.
If the selection and use of technology to support your processes is too often the thorn in your side or you feel like you can’t keep up, affiliation with one of the larger real estate brands can be a tremendous resource in this area. They take that burden off your plate, freeing you up to focus on other things related to running your brokerage. Weichert, for example, is continuously improving existing technology and evaluating new ones to ensure it’s using and providing the most efficient and effective techniques for managing real estate business. Affiliates are given access to these technology tools, such as our online marketing resource center, paperless transaction management system and our WeichertPRO CRM tool.
Developing A Productive, Successful Relationship with Tech
As a broker, you’re a relationship builder. So, it’s key to build a “relationship” with the technology you use and your process for evaluating it. The brokerage that makes effective use of technology is one that will develop into a real force to be reckoned with now and in the future. A brokerage with well-integrated technology will have a more efficient workflow, smarter online real estate marketing tools, and timely, consistent follow-up. Furthermore using effective, up-to-date technology can lead to higher agent retention, better productivity, and more efficient team dynamics. And who doesn’t want that?
Real estate is ultimately a face-to-face industry and Weichert firmly believes that technology will never replace a handshake – but we also understand how the real estate industry is changing – and we want to deliver the best of both worlds in order to help build stronger, more effective brokerages. If you share this vision, get in touch with us today at https://www.weichertfranchise.com and let our team show you some technology solutions that can help take your brokerage to the next level.