Build Your Business, Let Your Agents Sell Listings

Running a real estate brokerage is a rewarding business. You can do things your way from choosing a name and a location, training and mentoring a team, and driving your marketing.  You know you’ll never forget the excitement you felt when your sign was hung outside your brokerage for the first time. You made the transition from motivated sales associate to independent business owner and with that, comes a necessary shift in your thinking, and your actions.

The Salesperson Within

Most of the independent brokers we talk to were excellent sales associates. It’s why they made the move to being a broker. But a few years in, too many of them are still actively selling their own listings on a day to day basis. If this describes you, you have to know that you’re limiting your brokerage growth by continuing to actively sell. Before you hung your sign, the inner manager in you should have begun to change your focus from selling, to the process of managing. This means recruiting both experienced and promising new agents, and figuring out how to make them successful. Sure, it’s hard to break away from selling homes. After all, your sales prowess paid your bills all these years, but now it’s time to use your expertise to help other agents succeed and increase your bottom line. Salaried or contracted specialized administrative employees can help ease your work load and move you away from directly working with buyers and sellers to focusing on increasing agent transactions.

The Case for Letting Go

Many brokers mistakenly believe that they can’t stop selling or they won’t have the revenue to continue their operations or sustain their own income level. Inevitably this feeling is really due to another issue: you don’t believe your staff is able to do it as successfully as you. While this may even be true, if you want your brokerage to continue to succeed and grow, you need to invest in addressing that issue, not out meeting sellers to get listings. Train your agents to sell like you do, recruit new agents, and resist the temptation to slide back to old ways. Do that and everyone will reap the benefits and financial reward.

In fact, non-selling brokers typically earn more than those that continue to sell after opening their own brokerage. National Association of Realtors member profile for 2015 showed that managing brokers who solely took charge of their brokerage earned a median annual salary of $102,200 as opposed to $86,400 for brokers who also were in the field listing homes and/or working with buyers.

Handle Business Details

Think back to when you were working for another brokerage as a salesperson. How do you think everything ran so smoothly? Through the broker’s hard work on the various day-to-day activities of running the brokerage as a business. Or maybe it didn’t run smoothly, because the broker was too focused on their own selling or not invested in developing their agents.

Similarly, your mindset should only be on overseeing business details, such as continuing to foster your business and your brand to help agents get a leg up on the competition and your brokerage keep its integrity and sorecuieputation, among a slew of other operational tasks. If you are overwhelmed with the sheer number of tasks involved in managing your own brokerage and need a roadmap, you can consider an affiliation with a national real estate brand like Weichert. Our affiliates have the advantage of a blueprint for running a successful real estate brokerage, complemented with many broker tools to help handle business operations, marketing, recruiting and training that points you to the activities you should be working on for success.

Build A Better Life

When your entire brokerage is run seamlessly as a business, you are making a better life, not just for you and your family, but for all your agents. A successful brokerage means you can confidently take the family on vacation, knowing that the systems and people you’ve put in place will handle affairs while you are away.

Weichert has helped hundreds of brokers build the business of their dreams, contact us today at 877-567-3350 or online at http://weichertfranchise.com.

Original content posted on https://www.weichertfranchise.com/blog/build-business-let-agents-sell-listings-2/

Back-To-School Marketing Ideas For Real Estate

Throughout the year, there are many seasonal ways to promote your real estate business. Perhaps one of the most popular for parents is the back-to-school season. Being involved within the local school system is a terrific way of gaining exposure, connecting your brand with the community, and building valuable relationships. In today’s post, you will learn effective ways of getting more involved with the local schools and marketing your real estate business during the back-to-school season.

Sponsor A Sports Team Or Advertise

 

One way to become involved is to sponsor a sports team, buy advertising at the field, in a program or team website, or perhaps run a free back-to-school clinic. Sports are an emotional, fun, and passionate event that parents will be eager to attend. This gives you a strong chance to connect with them and their student-athletes. If you decide to sponsor a team, you will be able to market yourself through banners or uniforms which is tremendous exposure.

Write A Back-To-School Blog Post

 

Obviously, you already know that schools play an important role in how and where people purchase homes. In fact, according to NAR, 60% of buyers report that schools impact their decision and 50% are willing to exceed their budget to be within a certain distance of a desirable school. Why not tap into this buyer demand with a back-to-school themed blog post or series of social media posts that talk about the best schools in the area and the real estate markets that surround them. Another idea would be to feature various tips on the best ways to help get kids ready to return to school or the best local places to purchase back-to-school clothes and supplies.

Sponsor A PTA Meeting

 

Parents balance a very busy schedule and work hard to attend PTA meetings so that they can be involved in their children’s education. These meetings are always in need of refreshments and extra assistance to further their efforts. Even if becoming a member of the PTA is not an option, you can become connected with those parents by connecting with the school’s PTA group and offering to provide or sponsor the refreshments for meetings. Attendees will be grateful for your generosity and will have the chance to get to know you and your brand in a positive way.

Organize a Drive for School Supplies

 

Unfortunately, there are many families who cannot afford to purchase school supplies for their children. Another great way to support the community is by organizing a collection for school supplies or teaming up with a local charity to support this. Collect things such as pens, pencils, markers. Have the drop off location at your office, which will allow you and your business to connect with donors throughout the community. Get sponsors and/or collect monetary donations to purchase backpacks. Get your agents involved to assemble backpacks with the supplies to donate to a district with children who can benefit.

Leveraging Schools For Connections

Parents are one of the most valuable targets in the real estate industry and the back-to-school season is by far one of the best times to form a connection with them. As the summer winds down, getting ready to send the kids back to school is top of mind for parents, making it that much smarter for you to align with marketing tactics around that theme. Be sure that you continue to nurture the relationships that you form with parents during this time throughout the entire year by connecting with them on social media, importing them into your CRM, and starting conversations with them in person. The more opportunities that you take to show your dedication to the success of the schools, the more parents you will earn as long-term clients.

For more information about the best tools and strategies to strengthen your real estate brand’s relationship with the community during every season, subscribe to the Weichert blog or go to www.weichertfranchise.com.

Original content posted on https://www.weichertfranchise.com/blog/back-to-school-marketing-ideas-for-real-estate/

Dispelling the Myths of Franchises

Making the leap from real estate agent to broker and owner is a scary and exciting transition. It is one that leaves most filled with questions about finding their own path to success. One of the biggest forks in the road that all real estate brokers face at some point in their career is whether to maintain their brokerage’s independence or to join a franchise. Of course, like anything, there are pros and cons to both business models. Making the right decision for you and your team requires careful thought.

The Myths & Realities of Joining A Franchise

If you have been thinking about partnering with a franchise, you are likely being held back by a few common concerns. However, there are also tremendous benefits which attract thousands of brokers like yourself to make the leap every year. Here are some of the biggest myths and the surprising realities when you find the right fit.

Myth: I’ll Lose My Individuality. One of the biggest benefits of maintaining your independence as a real estate broker is being completely autonomous and able to explore your individuality as a business owner. For many, there is a strong emotional desire to maintain that independence, especially if you are operating a multi-generational brokerage that has, or will be, passed down within the family.

Reality: You Can Gain A Support Network And The Reach Of A National Brand. While some fear partnering will diminish their own brand, the truth is that most benefit from partnering with a franchisor that already has a powerful brand with a broader reach. Being tied to a company with a national platform can be a shortcut to gain credibility and trust within the community or simply raise your current standing in the market.  Being the leader of a brokerage can be lonely. You are the captain of the ship and all the responsibility rests on your shoulders. However, aligning yourself with a franchisor that offers a personal business coach, as well as a network of other brokers and agents, can supply the necessary support, resources, and coaching you need to navigate forward with confidence.

Myth: It’s Too Costly. Franchising fees are also typically a main concern of real estate brokerage owners considering a partnership. When analyzing the pros and cons of a franchise and comparing them against one another, it is wise to consider the value that one receives in exchange for fees.

Reality: The Benefits Can Far Outweigh The Investment. 

Let’s face it. You have to invest money to make money, but find the partnership that offers the most extensive systems and support for your investment. The cost should be inconsequential to the benefits received as a result. With the right partnership you can gain things like training and continuous learning opportunities for your agents, which can be very time consuming for you to do on your own. You can benefit from a franchisor’s more extensive resources when it comes to technology. By choosing a franchise that already has a suite of tech-savvy resources in place and the resources to stay up to speed, you can skip the headaches and supply your agents with everything they need at all times to be successful and a reason to stay with your company. Plus, you typically get the benefits of polished professional marketing and sales materials so you don’t have to spend time developing them and can focus on your business plan. Not to mention, the pool of expertise and peers you have access to also helps you avoid common landmines which tend to be costly in other ways.

Myth: A Franchise Won’t Understand My Local Market. Some brokers fear that partnering with a national franchise will create the perception that they are not in touch with the local market or that the franchise won’t understand the unique needs of your market.

Reality: There are franchises out there that value involvement in the local community and whose systems are flexible enough to allow your local expertise to shine, as opposed to one-size-fits-all models. A good franchise brand should complement your strengths and local knowledge, not swallow them. At the same time, it should give you access to resources at a level few independents can afford to maintain on their own. Being part of the right Franchise will allow you to do what you do best, while you get the advantages of better resources and ability to tap into larger pools of knowledge and referrals.

Myth: A Franchise Is Going to Tell Me How To Run My Business. Some brokers fear that affiliating means giving up your autonomy and control over how to run your business.

Reality: Franchisors are really relying on you to know your market and know how to run your business. However, what a good Franchisor can bring to the table is a perspective from 50,000 feet. They work with all types of brokerages and see, and have seen, all types of challenges as well as keep tabs on industry trends nation-wide. A good Franchisor will coach on what they’ve seen work and what doesn’t. That type of advice can help steer you clear of certain minefields to save you time and money. They can also share best practices and trends working across the country that have led to success. If you can get that type of roadmap to shortcut your way to success, why wouldn’t you want to take it?

What Indies And Franchises Have In Common

Ambition: While there are many differences between independent brokers and franchises, one thing that all owners share is the desire to succeed. Ultimately, it is this drive to grow and progress that made you want to become a brokerage owner in the first place. Everyone is searching for a way to get to the next level. The difference lies in the collective resources and support you are able to tap into to get you there.

Need For Brand Recognition: Standing out in a crowded field is a common challenge for independents and franchises alike. You need to spend money on marketing and develop visibility and a positive reputation in your local market that is professional and polished if you want to compete.

Desire to Serve The Customer:  A good brokerage, whether a franchise or independent, wants to ultimately provide the best experience for its customers. Having modern, professional, polished materials, good follow-up and a desire to put the client first are all keys to success no matter what type of brokerage you own.

Are You Considering A Real Estate Franchise?

It is important to note that just as not all real estate brokers are created equally, not all real estate franchises are the same. There are pros and cons to every franchise and you should invest the time to compare them carefully in order to make the right decision for you and your team. Different models offer different opportunities for growth, and your success as a franchisee depends on committing to the right partnership.

For example, while some franchise opportunities use a hands-off approach and supply little more than their branding, the Weichert model is a far more personalized experience. The Weichert model of franchising supplies its brokers and agents with productivity tools like a CRM, marketing tools, a network of leads, coaching, training materials, and all the elements of a modern brokerage wrapped within a supportive culture.

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/dispelling-the-myths-of-franchises/