Running a real estate brokerage has its share of expenses. Payables—large or small—are a necessary part of doing business. Expenses like rent, office supplies, insurance, furniture etc. are easy to understand and manage. What is less obvious are the investments in marketing, advertising and technology that many brokers spend thousands or even tens of thousands of dollars on each month. The temptation to periodically cut these expenses requires a much more considered analysis that can’t be based completely or even in some cases, primarily on pricing. Conversely, you shouldn’t drop precious budget dollars on every new shiny thing that comes on the market.
Necessity Of Large Expenses
Let’s not forget our need for technology, and its ever-increasing role in real estate. Other than general IT set up and maintenance, customer relationship management (CRM) is a large, yet crucial, cost of doing business that can help streamline much of the real estate process in a busy brokerage. CostOwl reports that in 2018 inhouse CRM costs range from $100 to $1,000 per user plus maintenance, support, updates and potential customization, while web-based CRM systems run $50 to $100 per user every month with lesser fees for smaller brokerages.
Expense Analysis Revisited
In the case of a CRM for example, between increased labor in transferring data, lost production time and price of a new system, it’s more cost effective to choose the right CRM system for your brokerage from the start. One that provides high value, and is right for your operation, rather than choose a system based primarily on price. When you are part of a franchise, such as Weichert, you typically have the added benefit of a CRM that they’ve already vetted or customized. The Weichert CRM, for example not only provides top tier real estate features such as contact management, marketing automation, open house management, and mobile app access, but its internal workflow has been designed to echo the best practices brokers and agents are taught on their roadmap to success. Your ability to integrate a CRM into your operations is just as important as the CRM feature set and this is not an area to pinch pennies.
Look At The Whole Picture
Gain Access To Systems That Work
Could your brokerage benefit from this? Learn more at weichertfranchise.com or call 877-533-9007.
Original content posted on https://www.weichertfranchise.com/blog/stop-seeing-red-smarter-view-brokerage-expenses/
No comments:
Post a Comment