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.

Original content posted on https://www.weichertfranchise.com/blog/time-management-for-real-estate-brokers/

Differentiating Your Brokerage In A Crowded Market

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?

Recruit Effectively

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.

Original content posted on https://www.weichertfranchise.com/real-estate-marketing-tools/differentiating-your-brokerage-in-a-crowded-market/

The Right Ingredients for an Attractive Brokerage

Think back to the real estate brokers you worked for when starting your career. What drew you to work there in the first place and what prompted you to stay or move on? Did you feel your input mattered or that no one cared what you had to say? Was there a real team dynamic or was it everyone for themselves?

As a broker, now is your opportunity to build the company culture you want. Whether you worked in real estate your entire life or started out in another industry, there are key attributes that make any business worth working for, including yours.

Trust And Honesty

Believability is important to success. Honesty and trust go hand-in-hand. Trust your agents enough to let them do their job of selling homes and provide the training and support for them to do so. Even as broker you aren’t expected to know everything but know how to get the answers. So, the next time an agent asks you a question you can’t answer, commit to researching it and getting back to them as soon as possible.  And then make sure you really follow up. Use the calendar app in your phone or email to set a quick reminder for yourself. When agents see that their queries are important to you, it makes them feel valued and deepens your relationships.

Respect

Trust and honesty lead to respect. But it’s a two-way street. You must respect the agents that you brought on to earn their respect in return.  This includes the young, inexperienced ones who may test your patience at times. Always be polite, actively listen and talk with your agents as equals. These agents, who you took the time to recruit, may provide you with a novel way of doing something that can set your brokerage over the top, which can only be learned through mutual respect.

Recognition

Recognize the talents and accomplishments of the team of agents you recruited. Did an agent close a particularly hard transaction or a new agent complete their first transaction by themselves? Announce it.  Did they close a personal record-breaking deal? Give them a shout out. Let everyone know of their achievements. Recognition isn’t all about highest grossing or most transactions in a year. It’s also about general accomplishments and teamwork to help all agents—new and experienced—feel valued. Agents who know their contributions are valued strive harder to succeed.

Support

If your brokerage goes above and beyond to provide the right tools and techniques for your agents to succeed and properly trains them in the use of these tools, then word will spread that your agent support is exceptional. In turn, these support tools make your brokerage the go-to destination for recruits, saving you time and effort in both real estate agent recruiting and retention.

Putting It Together

Re-evaluate your brokerage to make sure you are creating a dynamic and positive culture that values your team as a whole, as well as individuality. Model by example and your agents will do the same. Build a solid team of agents with the right tools, techniques and attitude and you will stay competitive in your market. While it’s up to you to build a culture of trust and respect, there are easier ways to provide everything else than trying to keep up alone. Affiliating with a National brand, such as Weichert, who already has the tools and systems in place makes it easy for you to plug in and run. You get a wide array of agent training opportunities right out of the gate, for example, including sales coaching, weekly and monthly seminars, general industry trainings, online courses, technology training and more. Plus, leverage awards and recognition programs, sales tools and techniques and technology platforms. With all of these things readily available to you, you have more time to focus on your brokerage-building strategy.

If you want to learn more about how Weichert can help your brokerage dynamics, contact us today: weichertfranchise.com or 877-567-3350.

Original content posted on https://www.weichertfranchise.com/real-estate-agent-recruiting/the-right-ingredients-for-an-attractive-brokerage/

Does Your Brokerage Infrastructure Stack Up?

You were probably a top agent for years before you opened your own brokerage. You had a gift for understanding and relating to people and you’ve got real estate sales down to a science. You’ve mentored new agents and worked on solutions to close complicated transactions with other seasoned agents. You understand how a brokerage works and the daily ins-and outs of business management. Despite this, you may be frustrated with the rate of your growth, and the seemingly endless effort required to achieve it.

A key part of a successful brokerage is having the right infrastructure in place.  It’s a challenge to build without a good foundation. While some of these may sound familiar, it never hurts to assess where you have solid resources and what areas you still need to strengthen.

Let Your Agents Sell

Perhaps the most difficult transition for new brokers is the move from awesome salesperson to business and people manager. The urge to continue in your most familiar role is both strong and sometimes seems financially necessary.

If you are really going to be successful however, you have to fully embrace the additional and different responsibilities that come with being an established broker. This involves business management operations and strategies that have nothing to do with selling, such as building and utility management, employment laws and legal issues, technology usage, agent and office management, contract negotiations and of course, recruiting. The message here is simple but bears repeating: while you can train and coach your team for higher productivity, leave the day to day selling to your agents.

Hire Support Staff and Contractors

It’s hard to do everything well. And you probably can’t afford to put an employee on the payroll for every specialty need you have, at least initially. Instead, hire specialized support staff to set up and handle business systems you are less familiar with or need assistance with occasionally. For instance, initially bring on a part-time bookkeeper and office manager who can help with daily administrative and business tasks. A marketing specialist or consultant can provide brand expertise, manage social media content, keep your website fresh and promote your business. Develop good relationships with outside contractors for other work that you may not want to bring in-house. Regular meetings with a trusted accountant sets up correct financial systems your bookkeeper uses and advises you of tax and employment issues. Your computers, network, data security and marketing technology, should be in the hands of a trusted IT company who is responsive to your needs.

Develop Operational Policies and Procedures

Often brokers do not take the time to formally write out their processes and procedures.  This document avoids confusion and misunderstanding with your agents and support staff. Detailed topics should include employment contracts, general office policies, records management, trust accounts, broker relationships with consumer (agency, facilitator, etc.), as well as ethical policies, grounds for termination, safety and crisis information. You’ll also want procedures related to marketing and promotion to ensure your brokerage is represented consistently in the market and in compliance.

Get Cutting-Edge Technology

The right equipment and software takes time to research and test, but is so crucial to the success of your agents and brokerage that a regular review of these systems is critical for brokerage management. Technology is at the core of your ability to get and manage leads, track transactions and schedule appointments. Sometimes having a trusted partner for technology selection and training can be a huge relief for the busy brokerage.

Stay Compliant

Brokers must keep up-to-date with local, regional, state and federal real estate laws, but also understand employment laws and follow legal hiring practices to stay in compliance and avoid liability issues. While the local MLS will provide many standard sales forms to help you stay in legal compliance, other forms may be needed for special situations. That’s where a real estate attorney who is a trusted partner in your brokerage business operations comes in handy to provide non-transaction related legal assistance and advice.

Practice Good Business Management

Having a business plan is essential to any successful brokerage. Make sure you write one every year, which includes your sales goals and budget plan. Consult it frequently throughout the year and make adjustments to your activities accordingly.

There’s a lot involved in running a successful brokerage. While many choose to go it alone, affiliating your brokerage with a system that’s already built and proven can take a lot of the guesswork out and give you a strong line of support when you need it. Plus, it frees up your time to attend to many of the areas noted above. Weichert is the perfect example of this. Our service teams have worked with hundreds of independent brokerages to help them to work more efficiently and grow their businesses. From writing a business plan to recruiting strategies, Weichert provides business solutions that are proven and are designed to promote brokerage growth. Plus, they provide the technology resources you need to compete, including a world class CRM system, sophisticated lead generation system, online market continual online and live training opportunities, paperless transaction management, an online marketing design center and more.  There’s no part of your real estate business that we can’t help you with.

If you think you could use a partner on your road to success, consider the team and the brand at Weichert. You can call us directly at 877-746-2067 or go to www.weichertfranchise.com.

Original content posted on https://www.weichertfranchise.com/real-estate-lead-generation/does-your-brokerage-infrastructure-stack-up/

Franchise Vs. Independent Real Estate Brokerage – Finding the Right Fit

Running your own real estate agency and brokerage is a big step for most real estate agents, and one of the biggest decisions you’ll need to make along the way is whether to  partner with a real estate franchise or go at it alone. Here’s some insight on your options.

What are the benefits and drawbacks of maintaining an independent brokerage? 

Choosing to go the independent route has both pros and cons for brokers. The main attraction is having complete autonomy – you aren’t answerable to anyone other than yourself. You can control the development of your own brand, find your own clients and you don’t have to pay any franchise fees.

Sounds great, but being autonomous means that the burden of your success is entirely on your shoulders. All training, marketing strategies, recruitment, retention and growth is up to you. You are the deal doctor, the office counselor, the janitor, the first to arrive and the last to leave at night. It’s also up to you to research the latest and greatest lead gen technology or CRM and build and maintain your brand – a big task in a tough economy and a competitive property market. Trying to keep up can leave you feeling burned out and the investment required to stay ahead can end up costing you much more than a franchise fee in the end.

What are the benefits and drawbacks of a real estate franchise? 

As you might expect, this can depend a lot on who you choose to partner with. While there will always be tradeoffs, affiliating does not have to mean “selling out” or giving up your business to big brother. With the right brand, you can tap into the power of a national system, but hold on to the great things you are already doing in your local market.

Yes, affiliating with an established real estate brand usually means sharing your individual brand with the brand of the franchisor. In most cases this is a benefit, as the brand of a good franchisor will be more powerful and far-reaching than that of an independent agency. Our experience is that most brokers welcome this as part of the other benefits they receive by affiliating. You will still do business with the people who know you, but you will be able to open the doors to people who don’t. Control of your business typically remains in your hands, depending on the policies of your franchise agreement. A system like Weichert’s for example, was conceived by an independent broker, for brokers. It offers a full buffet of training, systems, sales and marketing tools that have been used successfully by hundreds of offices across the country. They are available for you to plug into your business to help you grow. We know they work, but at the end of the day it is up to you how to integrate our programs and systems into your business.

Of course there are inevitably franchise fees, ranging from 6 to 10 percent depending on who you sign with. In the end, you must weigh the opportunity to improve and grow your brokerage vs. the time and dollar investment it will take to do it on your own. Ask yourself these questions: Can I get where I want to be on my own? How do the costs compare? How long will it take me to do it myself? Am I happy with my work/life balance? Am I effectively competing in my market? Can affiliation help me stay ahead? Can it help me reach my goal faster?

Is The Weichert Franchising System The Right Opportunity For You And Your Brokerage? 

Critical to getting the most benefits out your affiliation with a real estate franchise is committing to the right franchise partner. Different franchise opportunities offer different operating models which can lead to different results. Some large, well known real estate brands for example, offer little more than their logo and branding to their affiliates. The Weichert Franchise System couldn’t be more different. Our affiliates are taught a system for success which includes all the elements of the modern brokerage including lead generation and technology for example. The Weichert system is a real estate franchise opportunity developed by real estate agents and brokers with the flexibility to work within each brokerage’s needs, rather than offering a less effective one-size-fits-all solution. We offer access to the most sophisticated national lead collection and screening technologies in the country to support high-value lead generation for your brokerage. Our formula for growth combines effective online and offline marketing tools with expert, one-on-one real estate coaching and training, and even a proprietary real estate CRM which integrates your brokerage and fosters our complete lead lifecycle methodology. This franchise offering is part of a practical, hands-on partnership that brings continual innovation and support to each franchisee and keeps your business moving towards your goals even in the toughest times.

For more information on The Weichert Franchising System or the benefits of partnering with us through our real estate franchise opportunities, please contact us today.

Original content posted on https://www.weichertfranchise.com/blog/franchise-vs-independent-real-estate-brokerage-finding-right-fit/