Tag Archives: best real estate agent marketing

Top 5 Reasons to Join a Real Estate Franchise in 2020

joining real estateAt one time or another, every real estate broker is faced with the difficult choice of franchising. For some, the fear of losing their independence causes hesitation. Although franchising may not be the right move for everyone, if any of these sound like the situation you are facing, it can be a tremendous benefit:

  • Your business has stalled, or you are not meeting your growth goals.
  • Recent changes in your local market pose a threat to your business.
  • You’re losing agents to other nationally-recognized brands.
  • You could benefit from proven operating systems, marketing tools, technology, or coaching.
  • You spend more time selling houses than managing your business in a leadership role.

There are really three options to help you move your business forward; you can build it, you can buy it or you can leverage it. The first two options take time and resources, and there’s no guarantee that it will get you where you want to go. When you affiliate, you leverage the extensive resources of your franchisor and chances are, those resources have already been vetted and proven. Here are five of the top benefits to joining a real estate franchise:

  1. You Are No Longer Alone

If you are anything like most real estate brokers, you decided to launch your brokerage because you wanted to elevate your impact and increase your earning potential. Now that you have settled into that role, you may again be searching for a way to grow and expand your operations. One of the most powerful ways that partnering with a good real estate franchise can help is by giving you a well-tested structure for your operations and a connection to something bigger. Being part of a group can put you in a better position, when it comes to competing against some of the major disruptors that have been entering the industry.

With a brand like Weichert, for instance, you have access to coaches, training, and branded technology that can provide you with support. Between our regional coaches, conferences and trainings and our active peer-to-peer network, you will never have to wonder what to do next. Just imagine being able to network and connect with other like-minded brokers that understand exactly what challenges you’re facing, can offer strategies to overcome them, warn you of potential pitfalls, and cheer you on as you grow. With the support and credibility of a national brand on your side, you will face fewer stumbling blocks on your path to greater success.

  1. You Can Provide Your Agents With the Tools, Resources and Training to Be Successful

As a real estate broker, you are not only faced with the task of attracting buyers and sellers to feed to your agents, but you must also attract high-quality agents to feed your growth. Being able to offer agents productive resources to support their business is critical to recruiting and retention. But there is a time investment in the process to create those things and do it right. Not to mention, the thousands of marketing ideas, gimmicks, and tools out there can be overwhelming! However, once you become part of a national franchise, you gain access to marketing systems that are already proven to deliver results, while eliminating that expensive learning curve, plus your agents can get the training they need to use those tools effectively.

Weichert affiliates regularly tell stories of the relief they felt once they gained access to Weichert marketing and training systems, as well as their network of mentors, peers, and coaches. As part of the Weichert family, brokerage owners no longer have to use their own time and resources to research and find the best tools and marketing strategies because Weichert has done all that heavy lifting for them. They now have become a destination for agents.

  1. Recruiting Systems To Grow Your Agent Base

Recruiting is one of your largest responsibilities as a broker. It can also be one of the most challenging, as it can be difficult to find, attract, and keep the right agents for your team. Often, agents hesitate to join a brokerage if they don’t have a good value proposition. However, if you do your homework and align yourself with a national franchise like Weichert, you will fully recognize the power of having a recognizable brand behind you. From sales systems, marketing tools, technology, lead sources, support, and coaching that a company like Weichert provides, companies are in a position to offer a comprehensive program to attract more agents. Plus, at Weichert, we coach our recruiting managers on proven recruiting systems and provide them with winning materials that help sell that value proposition. Having a system streamlines the process of growing your team with quality agents and supplying them with the tools for success creates an environment where they want to stay.

  1. Technology Systems To Help Your Agents Be More Productive

You can’t talk about real estate, marketing, or branding these days without talking about technology. Clients demand immediate follow-up and high levels of service, and it’s very difficult to stay on top of that without the right tech. But technology can be expensive, and it is ever-changing. How do you know what to invest in? Do you have the time to do the necessary research? How do you keep up with the changes? The time and expense of figuring all this out as an independent broker takes you away from operating your business.

By aligning with a franchise, like Weichert, you get the benefit of all their resources dedicated to vetting, researching, testing and updating. Weichert affiliates receive access to the myWeichert® powered by kvCORE platform, a powerful, all in one solution to run every aspect of a real estate business. Customized, branded websites connect to a smart CRM that uses AI driven, behavioral automation, powerful lead gen tools and more to help generate leads and stay in touch with contacts to convert more business. The system would normally be a huge investment for an independent brokerage to take on, both from financial and learning curve aspects. However, it is included with Weichert affiliation.

  1. Business Coaching & Support To Map Your Growth

Often the conversations about real estate training are centered around the agents. But owners, brokers and managers need coaching, too! Having easy access to training materials, coaching, and support as they operate is key to growing a business.  If you have ever found yourself unsure of your next move, in need of peer support, or in search of new education at the broker level, you would benefit deeply from the educational resources supplied from a national real estate franchise like Weichert. From business planning tools, to budget advice to strategies to improve company dollar, your dedicated business coach helps you along the way to strengthen your business and ensure you are establishing a solid foundation for growth.

Click here if you’re interested in learning more about the benefits of franchising with a nationally recognized brand like Weichert and how their resources can help both you and your agents thrive in today’s market.

January Is Too Late to Write Your Business Plan

As the year is winding down, you may want to consider reflecting on how far you have come in the last 12 months and where you would like to be at the end of the coming year. Many people will advise you that as a broker and a business owner, you should get in the habit of writing an annual business plan to set goals and measure your progress. Many brokers tend to “wing it” and don’t see the value in writing one. However, writing a business plan can be one of the best things you can do for your business. Follow these tips to create your own yearly business plan before year’s end and insure that next year is your most productive year yet.

When Is The Best Time To Write Your Yearly Business Plan?

In short, NOW! The best way to set yourself up for success in the year to come is to block off time to write your annual business plan well before the new year begins. Since many real estate agents and brokers have considerable downtime during the holidays, that is a great opportunity to focus on your plans and goals for the new year. Carve out enough time in November or December to look over the current year’s production and assemble a strategic plan for next year to get started off on the right foot when January 1st hits.

What Should You Include In Your Yearly Business Plan?

For a business plan to be useful, you really have to consider your goals, tactics, activities, and budget in some detail, and develop a reasonable plan that has these things working together. How much detail you get into is up to you, but err on the side of more detail if you can. At a minimum, a real estate broker needs to give some thought to the things below:

  • Goals and objectives for your business in the coming year. These can include goals around your GCI targets, a number of transactions needed, number agents needed to hit those transaction goals, how many new recruits needed and more. Run each of your goals through the M.A.R.T. goals test (specific, measurable, achievable, relevant and time-bound).

BAD GOAL: “I will recruit some new agents next year”

GOOD GOAL: “I will recruit 20 new agents next year of which at least 5 will have previous experience and one who has agent management experience. I will target 8 in the first half of the year and 12 in the second half of the year.”

  • Target Market – While it might seem obvious who you are selling to, there is still tremendous benefit to drilling this down into specific client types and looking at market trends. What is the age range of your primary buyers? Are they working or retirees? Relocation Opportunities? College Town? Additionally, look at some analytical data:
    • Average days on market for property of different price and type
    • Typical listing commission rate
    • Average price trend for a market you are interested in participating in
    • Number of new listings in a particular sector month over month and this year versus last year
  • SWOT Analysis – Strengths, Weaknesses, Opportunities, & Threats. Knowing what your team can do better than the other guys is critical to defining where you will put your money and energy in the coming year and where your best opportunities for growth lie.
  • Strategic Plan – What markets will you focus on? First time homebuyers? Relo clients? As you grow each year, this plan will change to reflect your new capabilities and market dynamics.
  • Time Frame – Put yourself on the clock for your goals by breaking them down into manageable chunks of activity. If you make these elements small enough, they won’t seem so daunting and bit by bit they’ll get accomplished.
  • Systems and Processes – This is really the “how” of your business plan. Your growth goals won’t happen by themselves; you will need to sponsor directed activities that are in line with your desired growth goals and strategy. Having some proven processes in place for training and marketing can be an important part of this. Need a real estate CRM? This is where you’ll budget for it and define how you will use and who will use it and what it will accomplish for you. Recruiting plan? Here is where you define the events you host and activities you’ll engage in to reach out to them.

Final Tips to Keep in Mind

Business plans are not a one-size-fits-all tool. It is important that even if you use a pre-designed template that you customize it according to your individual goals, targets, and challenges. Think in terms of both your immediate goals, as well as how they fit into your big-picture goals.

As an experienced real estate broker, you have a deep understanding of how important it is to treat your business like a business. By taking the time each year to write out a detailed plan and strategy of how you will tackle each benchmark on the path to success, you stand a much greater chance of getting there.

Plan Your Business with a Partner

At Weichert, we encourage all of our franchise owners to create a business plan each year. By writing down the plan, together with the coaching they get from their business consultants, Weichert affiliates have found this process to be truly valuable in sustaining growth. By implementing formal business plans, they are able to do more and focus their energy and resources on the right things. It’s just one of many proven strategies Weichert gives its owners to help them grow. We can help you with your business plan, but even better, we can give you the tools and processes to execute it.

For more information about how Weichert empowers its affiliates to do more, go to www.weichertfranchise.com .

 

How to Use Experiential Marketing In Real Estate

Experiential Marketing

Maybe you’ve heard of it and maybe you haven’t, but one of the latest buzz phrases in marketing is “experiential marketing”.  As the name suggests, experiential marketing is all about taking that face-to-face approach to the next level. This is done through the transformation of common events into standout experiences, which are then shareable on social media. So how can real estate brokers and agents use this to grow and market their business to a new generation of customers?

We’re all familiar with traditional marketing approaches like open houses or door knocking. These approaches are indeed personal and generate contact directly between you and potential prospects. Experiential marketing, however, takes that further by establishing more shareable experiences and more personal connections around your brokerage and your agents. In this way, people have an opportunity to get to know you and your brand in a less-salesy, more personal way. In the words of our founder Jim Weichert, “people buy you, before your products or services.”

For brokers and agents committed to a long-term career, experiential marketing can deliver both short and long-term results. Here’s a few ideas to get you started.

Creating Experiences for Your Clients & Partners

Almost any event you have sponsored in the past, such as an open house or seminar, can be upgraded to an experiential marketing event with a little extra work and thought. The experience you provide will vary, but the key is to make it fun, memorable, and shareable. Some events may not be tied to a specific home sale, but bringing visibility to your brand creates the opportunity for outreach in the future.

Educational Events

Most brokers have hosted educational events that allow you to showcase your real estate expertise in a more personal way than a blog post or postcard. Common events include first-time homebuyer classes, staging classes, and real estate investing classes. One way to make these events more experiential is to host them in more interesting places, like a local wine bar, or microbrewery, at an art gallery, or even inside a home you have listed. The key is to present a complete experience around the training, that is compelling enough to merit posting and sharing on social media. When creating these events, cost and creativity are your only limitations, but three words that help set the tone are: fun, food, and photo ops.

Events with Hyperlocal Focus

Events that allow you to mingle with local prospects and clients while indulging in local business are powerful for networking and making a positive impression. Some examples of hyperlocal events could include historic walking tours of your area, wine tasting tours, and “best of” restaurant tours. Organize a cleanup day at a local park and invite parents and kids. Rent an ice cream or food truck to coincide with a group door knocking event. Choose something you’re passionate about and that you feel your community will enjoy. Encourage people to take pictures and share their experiences on social media to get the maximum value out of your efforts.

Partner with Other Local Influencers

A way to host more compelling events and keep costs down is to partner with other local influencers or businesses. Host an event at the local animal shelter or pet adoption agency. If you’re marketing a 3 bedroom ranch in a family area, consider throwing a barbecue or partner with a local restaurant to cater an event for a local charity. An event catered by a beloved local hot dog shack will have just as much pull (maybe more) as a 4-star restaurant and give a sense of fun to the entire gathering. Or turn the tables and let your office be the host for a wine tasting, exhibit for local artists or holiday event like a pumpkin giveaway or trunk or treat.

Document the Journey as well as the Event

Don’t view the planning, brainstorming, and even the headaches of setting up your experience as things to hide. Instead use these as opportunities for photo ops to create content that will give you more mileage out of your event, such as pictures of the team setting up or your planning meetings. This way you can get a dozen or more pieces of content to publish across multiple channels for weeks, instead of just a single Instagram story published on the day of the event.

Remember that one of the key goals of experiential marketing is its ability to leverage the connections of all those involved by getting them to share on social media. Encourage all manner of photographs and selfies at your event and encourage attendees to post.

Staying Connected Online, Compliments the Experience

While these experiences and events are an opportunity for you to connect more deeply with your network offline, your social media strategy can enhance these connections even further. Post consistently in the lead-up to the event to build anticipation and use the phone and email to increase touch points as much as possible. At the event, have someone create content like live feeds and video that can be used later as well. Make sure your team will respond promptly to every comment and interaction on their social profiles.

It turns out that experiential marketing leverages some of the things that real estate professionals do best: being friendly and being organized.

Experiential marketing ties directly into the Weichert philosophy of the personal connection in real estate as first practiced by founder Jim Weichert, handing out business cards twice a day in a Chatham, NJ train station.

But the experience we most often create at Weichert, is one of success.

For more information on becoming a Weichert franchise, visit www.weichertfranchise.com.

Your Real Estate Team is Doing Great!  What’s Next?

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:

  1. Attracting and motivating agents and other team members.
  2. Designing roles and responsibilities within the team based on the strengths and weaknesses of team members.
  3. Delegation of work, and management touch points.
  4. Setting a vision for the teams activities
  5. Creating a positive work environment
  6. Deciding what technology and marketing tools the team will use.
  7. Designing processes for efficient and fair distribution of work in the team.
  8. Creating training programs for new team members
  9. Negotiation of fair commission splits with the broker of record and your team.
  10. Creation of an overwhelmingly positive experience for buyers and sellers.

In many cases, strong team leaders can apply the skills they have learned in team development, to form their own brokerage. With so much overlap between creating a successful team and being a broker, the transition may be less painful than many team leaders imagine. And on the other side of that transition, truly lies unlimited growth potential for you, your team and your business.

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.

  1. Select a physical location for your new office.
  2. Decide whether you will be independent or affiliate with a national real estate franchise.
  3. Develop a business plan, with a heavy emphasis on your recruiting plan.
  4. Decide on the tools you will use and the marketing approach.
  5. Work out a budget for expenses and obtain financing if necessary.
  6. Develop your own digital home online with a website, branded social profiles, etc.

An affiliation can offer a lot of support in making the transition, including a full roadmap of proven processes and tools that can be plug and play for the new broker. But perhaps even more valuable will be the personal coaching and guidance that brokers receive as part of the Weichert system. Our team consists of genuinely experienced real estate professionals who guide you through proven processes that have helped hundreds of Weichert franchisees be successful. Through one-on-one coaching sessions, well established training programs, regional coaches, management conferences, and a network of supportive peers, we can help team leaders bypass the pitfalls of starting a brokerage and help you continue your path to growth.

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