BrokerPulse

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.

The race to become real estate’s “Amazon”

Livian’s Adam Hergenrother on the race to become real estate’s “Amazon”

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.

The One Thing That Matters in Real Estate is Relationships

The One Thing That Matters in Real Estate is Relationships

A subtle shift back to basics is happening in the industry.

In my interviews with team and brokerage leaders and sales professionals, I’ve noticed a move away from discussions about technology and toward relationship building. The shift is subtle; after all, I’m constantly deluged with press releases on new technology and information about what the networks are doing in terms of building and providing a technology platform.

Stop me if you’re heard this one: Technology is there to facilitate the offline relationship. But, all too often, real estate professionals use it as a crutch to form “fake” trust. Let me tell you a secret; no one trusts you just because you post on social media and reach out through text messaging. But, social media, text messaging, and online contact can help you build trust quicker once you do meet in person.

Brokers work to build trust with their agents. Real estate professionals work to earn trust with consumers. Here are some activities brokers, team leaders, and agents are telling me they are doing to build relationships.

  1. No lunches alone. For brokers, it means lunch with an agent, manager, ancillary service provider, or recruit every weekday. These one-on-one, or small group lunches, create a culture of sharing, thus building relationships that transcend business.
  2. Prospecting phone calls. Successful brokers set aside one or two hours each day to recruit new agents. Phone calls lead to in-person meetings which leads to connection. For sale associates, calling five to 10 people from your database each day and offering them information of value shows you care.
  3. Video emails. I know a broker who sends out personalized BombBomb videos to prospective recruits. In the videos, he addresses the person by name, offers a personal comment, and offers something of value to the recruit. It’s more personal than a phone call and makes it easier to build a relationship.

The key to using many of the technology platforms on the market today is to use them to move the conversation offline and in person. For brokers, it’s also vital to teach your sales professionals how to take that online contact offline. The funny thing is, the Millennial generation understands this. Think dating apps. They use them to facilitate an in-person meeting. So, next time you use your technology platform to communicate to consumers, agents, or recruits, think about how you can move the conversation offline. Build your marketing around that goal.

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