Tag Archives: real estate marketing tools

Having The Right Tools For Your Agency

Real Estate Marketing Tools

Successful brokers are always searching for the right tools to automate systems, save time and increase productivity and income, which doesn’t occur until each system is firmly entrenched in your overall brokerage procedures. The tool may be a new recruiting and retention software for accountability, a CRM system that better fits your growing brokerage or high-quality, easy-use digital marketing materials.

Consider Your Goals 

Before considering any new tool, keep in mind your updated brokerage business plan and the goals you intend to achieve this year. Ask yourself what tools will put you ahead of the competition? How can your agents’ productivity be transformed? What will improve the buying and selling experience for clients? Any systemized tool needs to work exactly as planned to either help you, as broker, improve productivity or your agents reach higher performance figures in less time, all while ensuring improved client satisfaction.

New Tools Take Time 

Getting a new tool up and running is an incredibly time-consuming task. Time for a busy broker is already a precious commodity, but it can feel as if it’s at a premium when attempting to incorporate a new tool seamlessly into your current system, which may take weeks or months.

Think back to the difficulties of setting up your own brokerage and what it took get software and systems set up. You’ve no doubt learned from your previous experiences and know the effort it takes to incorporate any new tool. The steps from research to use may flow like this:

  • First, extensive research into each digital tool under consideration is essential.
  • Second, speak with customer representatives to ensure each potential tool has the capacity to do exactly what you want it to do. Get hard answers to questions, such as: Are changes to the web-based software able to be made to accomplish your specialized needs? At what cost and in what timeframe is expected?
  • Third, you need to know that the technology or other tool will work as expected, so a trial test of one or two of your best options is important before you make that purchase.
  • Fourth, you must set up the system, implement the tool chosen into brokerage procedures, work out any kinks in the system (and there will be issues) and train those using the new tool.

Don’t Have The Time? Stop The Guesswork 

While there are brokers out there who can do this successfully on their own, it can be a real challenge for the average small independent brokerage owner. If you want to compete and stay ahead from a technology standpoint, an affiliation with a larger real estate brand can really help and offer a solution. They have teams of resources working through this every day. So while you are focused on running your brokerage, they are researching, vetting and testing out the next best thing to make running a real estate business easier and more productive. Weichert, which offers its affiliates proprietary digital tools, is a great example of how affiliation helps take away the guesswork in many areas. Its years of research into systems that work mean that all the tireless research and functional testing of new tools is unnecessary on your end. Plus, Weichert provides the training needed to make the best use of their technology inside a proven system for success.

Weichert’s numerous tools position you at the forefront of your area and assist with:

Build Momentum Before Tool Launch 

Whether you choose to go it alone with a new tool or system or affiliate with a company like Weichert that offers time-tested ones, know that you need to build momentum in your brokerage around agent tools prior to the roll out. Create a bang around the launch to keep agents interested in what it can do for them, as most will be skeptical that its use will improve their work. Pick a super user (that may be you) to train all users to fully unlock all the features of the new tool so all have the chance to achieve success.  Above all, keeping your arsenal updated and fresh is important in maintaining your value as a brokerage to retain your agents.

Why work harder than you should? Contact Weichert at 1-877-533-9007 to learn how their cutting-edge tools can help you exceed your business goals in less time.

 

 

Five New Year’s Resolutions for your Brokerage

Broker Marketing

The New Year came fast and is already in full swing. Did you make any resolutions? It’s important to maintain your focus on where you want to be in 12 months. Continue to take the lead and decide what direction you want to move your brokerage toward this year. Just as in your personal life, January is a good time to set goals for your brokerage to help you stay motivated and to reinvent yourself a little bit.

To improve your bottom line and keep your agents in the forefront of their market, consider ringing in these five New Year’s resolutions for your brokerage:

1.Create Buzz Around Your Brand

Think about your marketing plan for the year. After all, marketing should create buzz around your brand and should be well thought out and budgeted into your business plan. Use the amount of an average transaction commission as a base for determining how much you can comfortably spend this year. You want the most impact at the least cost.

Whether that’s an ad highlighting your listings or a glossy ad in a regional or national magazine showing off what sets your real estate brokerage apart from others, your spending needs to build awareness, bring business in and grow your brand. As marketing is so crucial to business growth, Weichert® advises having a well thought out brokerage marketing plan in place each November for the following year.

2. Track Numbers Differently

Every successful broker knows their numbers. Do you? It’s important to track sales, of course, but following the numbers of all your agent activities—new listings, buyer consults, open houses conducted—shows patterns that may suggest a change is needed to increase income. Keeping your agents accountable for their activities using hard data like this leads to better performance.

3. Introduce A New Technology Application

Technology is ever evolving and is an indispensable part of the modern real estate enterprise. Try introducing new technology to your agents that can make showing listings easier in real time. For instance, Periscope is a live-streaming video application launched in 2015 that can be used from any smartphone to simply broadcast virtual open houses for those purchasing from a distance. Best of all, the app is free to use.

4. Use A New Marketing Tool

It can be time-consuming to keep up with the latest marketing tools, but it’s important to remain competitive. We all use hashtags in our social media posts, but how do you know if your choice of hashtags is effective? This year, try Keyhole, which provides analytical details on various hashtags, including impressions, demographics and sharing.

5. Better Project Management

Recruiting, training, checking budgets, answering agent questions, reviewing contracts and many other tasks must be completed to keep the office efficiently running. Simplify big projects and tasks with Todoist and save time. Used on over 10 platforms—web browsers, mobile devices, desktops, inboxes—and with lots of special features, projects and tasks on this application can be scheduled, broken down into manageable parts, and even shared and delegated to your office manager to keep you both in check.

There you have it, five New Year’s resolutions to implement into your real estate business plan for 2018. Use of these resolutions can help you increase sales through smarter marketing, keep your agents accountable and productive, and, best of all, save you time.  And if you are looking for one centralized solution to help you implement these types of resolutions, consider a franchise affiliation. Affiliations with a national brand such as Weichert® can offer you help with branding, tracking your numbers and have teams dedicated to researching and implementing new technology and marketing tools, so you can spend time managing other aspects of your brokerage.

Final Thoughts

New Year’s resolutions can be hard to keep, but your ability to set and keep some around your business goals are an opportunity to reinvent pieces of your business in the New Year and take it to new heights. At Weichert, we know something about reinventing real estate brokerages, it’s what we help owners do.  For more information about becoming a Weichert franchise and its benefits, contact a member of our team today at 800-533-9007 or weichertfranchise.com.

A Healthy and Happy New Year to us All!

 

 

Training New Agents: How To Tap Your Best Resource

As a real estate broker, it’s expected that you know a lot about the business. The success of your brokerage is directly tied to your knowledge and experience. From picking a commercial location from which to run your business, to hiring new and seasoned agents, to marketing, you run it all. You keep abreast of changes in financial and real estate newstrain and carefully study market hot sheets each morning.

What New Agents Don’t Know

But how do you impart your sales and marketing skills and expertise to new agents who may be eager, but still have a lot to learn? These fresh-out-of-school agents have a general real estate education, but don’t know the first thing about what it takes to work in the business—generating leads, doing a CMA, writing a contract or even basic marketing.

By now you know what new agents consistently need to learn and can coach them on those topics. While teaching them real estate best practices can be a drain on your time, you understand that new agents can only be producing agents with the proper training. Taking the time to educate new agents toward success means they have a better shot at being the 13% who succeed, rather than the 87% that fail within five years in the industry*.  But if you don’t have a dedicated trainer, where do you start?

Create Q&A

A question-and-answer format is a fun way to train agents new to the business. Create answers to the most often asked questions you’ve heard over the years. Keep your answers clear, simple and to the point to make it simple for agents to grasp the concept and easily act. Questions to answer may include:

  • How do I get prospects?
  • What kind of prospects should I go after?
  • How do I generate leads?
  • What can I do to set myself apart from other agents?
  • How do I negotiate my commission?
  • How do I run and analyze a CMA?
  • How do I market my listing?

Make Training Accessible

Share your expertise with new hires in an accessible YouTube video or other digital platform. To make the information easier to learn, shoot a short video for each question. Doing a training video, for instance, is a good delivery method that frees up your time. You can create the material, upload and use it to train many agents with no extra work on your part. Just create updates as information changes. If you are lucky enough to be affiliated with a large real estate brand like Weichert, you may have access to some of the best real estate marketing tools in the industry like an online, e-learning center, which provides a wealth of material on important training topics.  Best of all it is available 24/7.

Motivate For Longevity

Knowing how to attract and funnel leads, how to acquire listings and how to write a contract are all key parts of any real estate business. But, as all brokers have experienced, agents often have slow times or difficult buyers or sellers. Think back to what it was like when you were just getting started as an agent. What was that bit of wisdom, quote or daily affirmation that you’ve never forgotten and still use today? Share what keeps you going each day with your new agents to teach them the art of motivation. It will help keep them in the game for the long haul.

There is of course, an easier way to train new agents that works around the clock every day, so you don’t have to–that is affiliating with a company who invests and provides you with these training resources. Weichert® realizes the relationship between education and success, and offers a full suite of training programs for new agents. These include an online university and ongoing interactive training sessions to get agents up to speed fast and keep them current with best practices.  Call Weichert® at 877-533-9007 to learn more.

*NAR Survey 2014

https://weichertfranchise.com

Don’t let Leads Go Cold Part 1 – Being Responsive

Real estate lead generation

As an experienced real estate broker, you’ve spent your time in the trenches as an agent doing whatever you had to do to create buying and selling opportunities for yourself.  How do you help your agents approach their business with the same level of excellence?  You can probably think of instances where  buyers or sellers slipped away because follow up was a little late, or even non-existent.  Perhaps some competitor was just a bit quicker on the draw or had the right message at the right time and so a nice opportunity quietly disappeared because there wasn’t a safety net to ensure that it didn’t.

At Weichert we are razor-focused on the nurturing of leads and we can confidently say that ability to keep leads warm until they are ready to act comes down to exactly two things: responsiveness, and follow up.

The Definition of “Responsive” In An Online Age

If a client has taken the time to make contact by phone or through the internet, that’s a big step toward opportunity. What they want is to speak to someone, and generally the first person to do that will have the best opportunity to work with them.  While online leads now bring most new business opportunities, studies have shown that online leads go cold incredibly fast. A study by Harvard Business Review shows that companies that contacted leads within an hour of receiving them were nearly 7 times as likely to engage with the lead vs. companies that took just a ½ hour longer—and more than 60 times more likely to engage with the lead than companies that waited 24 hours or longer!

When you look at how leads are handled by your office and agent team, there are a few questions to ask:

  1. How often does an initial phone inquiry go to voicemail?
  2. How long does it take to follow up on these leads?
  3. How many calls are unanswered and then no voicemail is left at all?
  4. How long does it take for your team to respond to form inquiries from internet or website sources?
  5. How quickly are after hours contacts handled?
  6. Do you have a process for assigning leads that come into your brokerage?

If you don’t have a good real estate lead-handling system in place for your brokerage or know how well your agent team is keeping up with incoming leads, you could be letting good opportunities slip away.  This is an area you may want to look at bolstering within your brokerage.

Large real estate brands often centralize their contact handling to ensure all of these scenarios are addressed and handled in a timely and efficient manner. Weichert for instance, has a national call center which responds to internet and phone leads typically within minutes of receiving them. The leads are pre-qualified by our trained representatives and then immediately forwarded to qualified agents across the country for follow up. This occurs 12 hours a day, 7 days a week. By having this contact occur promptly, and screening for only the serious inquiries, our system creates the right first impression, and does not waste agents’ time with unqualified buyers or sellers.  It is an invaluable resource to our affiliate brokerages.

In Part 2 of this topic, we’ll talk more about what happens after you make that first contact with a prospect who perhaps isn’t ready to move forward.  How do you insure that you are the one that is there when they are ready, and how do you maximize the value of that contact in the meantime?

Stay tuned!

If you are a growth-minded broker looking for other ways to make your brokerage more productive and get to the next level of results, talk to the Weichert® franchise team today.

For more information visit https://www.weichertfranchise.com