RealTrends Q4 2021 BrokerPulse: Office consolidation, boosting agent productivity and core services capture rates continue…

2021 Website Rankings Now Live!

RealTrends website rankings highlights the top real estate websites across the country in 6 total categories for our annual brokerage website rankings.

Building more diversity and inclusion into your brokerage firm

Real estate brokerage strategies to create a diverse and inclusive company.

Study: It’s true, real estate teams outperform brokerage firms

Surveyed real estate team gross margins were an average of 61.8% compared to an average of 13.8% for real estate brokerage firms.

Does Your Technology Vendor Care About You?

The key to running a successful real estate business isn’t in the size of your brokerage or how much money you spend marketing your services. It’s in the quality of people with whom you surround yourself. By quality, I mean people who buy into your vision and help make that vision a reality.

technology vendorThis goes from your staff to the person putting signs in the yard. Who you choose to support your business from a technology perspective matters because they are an extension of your brokerage, business, and brand. We all know the importance of creating an amazing experience for our customers, but sometimes overlook who we have representing us outside of our office doors.

See the top three questions that you have to answer when it comes to vendor partnerships.

Do They Care?

  1. Do they care about your client’s satisfaction as much as you do? If your brain doesn’t scream “Absolutely” when you ask yourself this question, this is a red flag. You have to know that your partner realizes the importance of each aspect of the real estate transaction process.

One great example of this is from an interview REAL Trends did with an agent who partners with a professional photography provider. The agent spoke about how the consistent quality of the photos helped her win listings and increase traffic to her website. What stood out from our conversation the story of a  photographer who came to one her listings and took the time to stage the living room before taking pictures. The photographer clearly understood the value of getting the best possible photo of the living room and solidified the partnership with the agent.

Do They Understand?

  1. Do they understand your ultimate goal concerning where you want to take your business? Having a partner that sees beyond today’s immediate needs is priceless. Surrounding yourself with partners who understand your vision can help you get where you want to be.

technology vendorBeing on a mission to increase your market share by 10 percent, or to add 50 producing agents to your brokerage in the coming year is no small feat. Choose partners that can help you reach your goals while helping them reach their goals. This requires you to take the time needed to get to know your partner well.  This part can take a while, but the time invested here is the critical difference between having a vendor you will work with for a year or less, and a vendor who will become your partner for the long haul.

Can They Deliver?

  1. Can they deliver a quality experience or quality product consistently? It is not enough in a relationship-focused business like real estate to be good at what you do most of the time. Each customer expects your very best, each and every transaction.

One way you can ensure you offer quality is through the photos you produce for your listings. The client with a $250,000 home wants their photos to look as good as those with the $500,000 home. The same goes for your social media advertising. Are you working with a vendor who helps you personalize your messages so that every message counts?

Choosing a vendor can be challenging. These three questions can help you vet potential service providers to get the best bang for your hard-earned buck.

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