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?
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:
- Advertise your niche in the area. For instance, maybe your brokerage specializes in relocation or rural properties or is heading that way due to a need in the market. Perhaps you also do property management and work with residential property investors. Find a niche or two that need to be filled and make it part of your brand. Offer agent training in the specialty market(s) chosen to get those interested up to speed.
- Be consistent in the look, feel and messaging coming from all aspects related to your brokerage. Consistency is king when it comes to brand building. It not only fosters brand recall, but it nurtures consumers’ expectations of your business.
- Be visible. This can be through local advertising, participation in the community or grassroots word of mouth. You won’t be remembered if you are not on their minds.
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.