Tag Archives: Online Marketing For Real Estate Agents

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

The Three A’s For Building Brand Credibility With Millennials

With Millennials surpassing Baby Boomers as the largest segment of our country’s population, it is more important than ever to build a brand and a business that appeals to them. Especially since Millennials are approximately one-third of all home buyers and sellers. With these numbers in mind, it is clear that establishing and maintaining a real estate brand that wins over 21-35-year-olds is now mandatory. The question is, how does one create such a brand?

Dispelling the Millennial Myth

When you think about Millennials and building a brand that will earn their trust, you probably think that technology needs to be at the forefront of your messaging. This is the most common millennial marketing myth out there today. Although technology is a priority to them, Millennials care far more about authenticity, altruism, and accountability, the three A’s of Millennial marketing. The biggest way that companies lose their footing with this lucrative sector is that they lead with their tools, rather than their hearts. Even more than Baby Boomers and their parents, Millennials want to see and need to believe deep down that you care about them before they will buy into you.

Natural Authenticity & Altruism

While everyone is out there telling Millennials that they care about their needs, a better approach is to create content that is in the best interest of this demographic and offer it up for free on a consistent basis. This shows that you authentically care about the community and are willing to earn their business. The more content that you create, and the more valuable it is, the more powerful your brand will be at attracting all the right people, whether they be buyers and sellers, agents, or referral partners. Give your knowledge and content freely without expecting anything in return, and the returns will come.

Another very powerful way that you can show off your authenticity is through customer service, which happens to be another major priority of Millennials. Don’t claim to be dedicated to providing quality service and then drop the ball down the line. Instead, go above and beyond the call of duty and create content around how you help people achieve the results they crave. When Millennials talk, they will talk passionately about those that helped them and showed them that they really cared.

Accountability for the Win

There are moments in every business when things don’t go as planned and that is okay. Most Millennials are extremely forgiving when it comes to human errors with one caveat: you must hold yourself accountable. Let’s say that you made a promise to a young couple that you would meet with them for an hour to help them prepare an offer, but something comes up causing you to miss or forget your appointment. Don’t just shrug off the missed appointment or try to make excuses. Instead, use it as an opportunity to prove you are accountable by apologizing and providing even more time and assistance than you originally promised. Every mistake or human error can be transformed into an opportunity for advancement with Millennials if you prove that you are accountable for your actions.

Weichert® Brokers Live the Three “A”s

It is easy for Weichert to talk about the three A’s because these are similar to the values that have been part of our culture since before there were Millennials. Those are Integrity, Professional Standards, Added Value, Personal Service and Relationships for Life. These values not only apply to how you can better appeal to buyers and sellers, but also how you appeal to new agents and how you make your brokerage the place to be.  As Jim Weichert has said since starting his business in 1969, “People buy people before they buy products or services.”

For more information on the Weichert approach to real estate and the tools and resources we offer to help you market your brokerage call us today at 877-567-3350 or visit weichertfranchising.com.

Truth: Your Agents Will Leave You Someday. How Strong Is Your Recruiting Plan?

As with any business owner, you must hire well for your business to succeed. The growth of your brokerage depends on the number and productivity of your agents. Continually recruiting agents—new or seasoned—who are enthusiastic go-getters adds excitement to the entire office and motivates current agents to do better. Having the right recruiting tools and systems ensures that your pipeline of potential agents remains full and you won’t be scrambling to replace production if, in fact, an agent leaves you.

Business Plan And The Numbers

Doing a formal business plan every year isn’t always the first thing on a busy brokers long list of To-do’s. Yet at Weichert, we emphasize the importance of this tool with all our affiliates. Your business plan should include a recruiting plan that should be a constant point of reference for you, not something you do and forget about. You should keep it current with an updated assessment of the brokerage’s needs in terms of agent count. Just adding 10 new recruits a year can substantially increase your gross sales income. Adding 20 a year is even better.

Think about your own plan. Do you have a realistic growth goal for your business? Do you know how many recruits you will need to reach your income goals this year? Knowing your financial goals and how that translates to additional sales and feet on the pavement is critically important in determining the minimum number of agent recruits you need to bring in for your desired profitability goal. Weichert affiliates are taught efficient ways to conduct productive recruiting activities, roll up and review the numbers each week to determine if they are on track to reach their yearly goals and can adjust their strategies if not on target.

Here’s a few tactics you can try to improve your pipeline of potential agent recruits.

Participate In School & Community Recruiting Events

You know that recruits can easily be found at real estate schools or college campuses, especially one that has a real estate program. Be part of recruiting events at these locations. Request to put a recruiting flyer on a bulletin board with a business card pocket to help gain interest in between recruiting events. Check it regularly to keep the pocket constantly filled with cards. Track who responds and from where to gauge the best locations and strategies.

Have Attractive Marketing & Training Materials

Use updated and well-designed marketing materials as recruiting tools. Professionalism is key. Be prepared to show your stuff to potential recruits with modern materials that describe your company culture, your success, the value you offer, and other important information that agents new to your brokerage want to learn. Inexperienced agents will be particularly interested in how you are going to train them to get up to speed and productive. Highlight strongly all the formal training and mentoring programs you have in your brokerage to keep them competitive. Really give them a sense that you will be fully vested in their success.

Promote Online

Let your online presence do some talking for you. Use your website to attract recruits with a career section that tells them why they’d love to work with you! Include information on company culture, photos of agents working and having fun and descriptions of all the great tools, training, sales successes and support every agent receives as part of your brokerage team. Social media works well to search for and solicit potential recruits, especially those more seasoned, who already have active real estate social media profiles.

Use Brand As A Power Tool

Sometimes having the right brand can be a powerful recruiting magnet. No matter how successful your independent brokerage is now, being part of a nationally recognized brand can open doors that accelerate business growth and more easily attracts recruits. Not to mention it often allows you to offer your agents much more than you could on your own.

Host Regular Career Events

One of the most effective activities can be holding regular recruiting events at your office. Promote through email, phone calls and social media. Make sure you have a dynamic presentation, be prepared with takeaway materials, show off your awesome office space and brokerage personality. By the time you’re done, they won’t want to work anywhere else!

Yes, effective recruiting is a big investment, but it is the single most important thing you can do for your brokerage. How do you find time to create the materials and training programs you need and where do you start? That’s where being able to plug into an existing, proven system can help. Companies that affiliate with Weichert, for example, are coached in best practices for recruiting, including effective ways to conduct regular recruiting outreach, hold career events and how to roll up and review the numbers each week to determine if they are on track to reach their yearly goals so they can adjust their strategies as needed. Weichert also provides affiliates with the presentation tools and marketing resources to make that dynamic recruiting presentation and professional impression. Plus, we offer training to get new agents up to speed and working in no time. All that plus national brand recognition which amplifies the attractiveness of your brokerage. All you have to do is implement. How easy is that!

Good systems, smart tactics and regular ongoing activity will keep your recruiting pipeline filled with agents eager to be part of your team. If a recruiting system like Weichert offers is something you’d like your brokerage to plug into, contact us for more information at 877-746-2067 or view weichertfranchise.com.

Time Management For Real Estate Brokers

Do you feel drained at the end of the day with a dozen important things remaining to be done? Do you leave tasks half-finished as you respond to an endless stream of urgent interruptions? Are you sacrificing time with your spouse and children? As a hard-working broker, you manage all types of tasks every day and may work long hours to accomplish them, from creating a marketing campaign to training new agents. Developing a work-life balance all comes down to using your time wisely. It’s easy to say but surprisingly hard to do, especially for brokers.

Here’s a few tips on how you can have the business you want, along with the lifestyle you deserve, from the experts at Weichert Real Estate Affiliates.

Principles of Broker Time Management

Time management is learning to accomplish more tasks in less time. It means better productivity and more quality time to renew and recharge. In turn, scheduling your time provides a more nurturing work-life balance that helps avoid broker burnout. There are a few main principles of broker time management that will have you working more productively with more time for yourself and your family:

  1. Organize your daily goals
  2. Delegate, delegate, then delegate some more.
  3. Use automation and tools
  4. Establish operational checkpoints on a regular basis

Daily Goals – The Most Powerful Part of Your Day

One famous dissertation on time management says you should write down 6 important goals you want to accomplish each work day. Whether your number is 5, 6, or 10, taking that 5 minutes each morning to define your priorities for the day is probably the single most important thing you will do all day.

Then as you accomplish each goal, cross it off your list to give yourself that feeling of accomplishment. Don’t get overly upset if you fail to achieve your full list, but make sure you follow through the next day.

Delegation

The temptation to take on certain tasks that you know you will do better than anyone else is strong and common. Yet if you never allow someone else to challenge themselves at this, you will be forever obligated to do it yourself. As a brand representing hundreds of brokers across the nation, Weichert experts will tell you that the most successful brokers have managed to be almost 100% strategic in their tasks and have delegated tasks they never thought they could.

Today pick one time-consuming activity that “I have to do myself”, and train someone in how to help you with it. They may stumble at first, but with patience and consistency, it is you who will run faster in the end.

All The Right Tools

The promise of so much technology and electronic capability is to do things faster and more efficiently. Unfortunately for too many brokers, technology promises have been offset by technology complexity and cost and brokers we see are either not using their tech properly, or at all.

And yet when you and your team are properly trained and fully utilizing modern systems like real estate CRMs, online lead generation and marketing, or even just using Microsoft Excel better, you achieve a level of organization and time management you can only dream of. You don’t have to be a computer geek. You just need to be willing to learn or leverage learned resources to be sure that the promise of the technology you use, is realized.

Trust But Verify (Regularly)

Even if your team is trained and motivated to use the systems and tools you have in place, establishing regular operational checkpoints is a must. This is an activity you can’t delegate. Having a look into how critical systems and initiatives are performing in the brokerage, provides you the critical insight you need to make larger, more far reaching decisions. For instance, you may find that agents are interpreting data in your open house management system in several different ways, causing problems with follow up. Or that the whole system simply doesn’t work the way you need it to, leading to an important strategic reinvestment in a new CRM.

As you grow, your verification activities should rise as well. Insist on the lower level process and tech reviews, but conduct your reviews with your team leaders. Hold them accountable for metrics at the lower levels while you up-level your view.

A Little Discipline Saves a Lot of Time

You don’t have to run your brokerage like a military operation, but a little discipline is certainly necessary. Having proper processes and systems in place that you don’t have to invent or constantly change is a big part of time management, success, and achieving that elusive work-life balance. Don’t spend time thinking about things that can be automated. Save that thinking time for the bigger strategic issues you really need to put thought into.

Management Systems. Digital Tools. Selling Systems. These are all things the team at Weichert can offer your business that you can plug into.  If you think this could benefit your business and put you on the path to growth call 877-567-3350 or visit weichertfranchise.com for more information.