For most of us, the year is wrapping up nicely. Holiday party invitations are going out soon, along with thank-you cards for clients and maybe even bonuses for your agents.
You’ve probably already begun considering how to prepare your brokerage for the new year, especially in terms of tech stack. How can you prepare your staff and agents to return to a buyer’s market? What are the best tools your agents can use to offer more efficient experiences to their clients?
As something that will affect how your agents do business and in turn, your brokerage’s operations and success, these questions can be tough to answer. That’s why we’ve created a handy guide to help.
How can I help my agents save time when doing digital work?
Digital work takes time, especially when your agents need to switch between programs. According to SMB Suite, using disconnected systems will reduce efficiency and increase errors. Sound familiar?
If so, good news: you can solve this issue either by looking for ways to connect your software, or by looking for software that comes connected.
Search for comprehensive programs that combine and simplify the steps of a real estate process, whether that’s finding new leads, completing a transaction, or something in between. When connected solutions aren’t as available, explore ones with integrations in place to make your data transitions smoother. Choose tools that automate manual tasks to save even more time for your agents.
Take Lone Wolf’s Back Office and Transactions as an example. With an integration between them called Lone Wolf Link, both tools cover the entire transaction process on a single synced platform. Click below to play a video and learn more.
How can I support new agents, as well as my overall team?
With 18% of NAR members having a mere year or less of selling experience, it’s important to support them with coaching and resources when needed. But when is that?
This is where data analysis tools come in handy. They can help you understand your agents’ productivity rates based on factors like dollar volume, number of transactions, and more. From there, pinpoint which agents could benefit from coaching to perform at their best in areas they could improve on.
Pro tip: Tools like BrokerMetrics’ Proficiency Metrics can provide reports on these topics.
With today’s ever-changing market, it’s important to help your agents understand what they’re facing. Offer learning opportunities through resources to make sure your agents know how to take advantage of the current market, like BrokerMetrics modules on topics like market growth and market analysis.
How can I use data to support my brokerage’s success?
There’s no doubt about it—big data is changing how the real estate industry works. Unfortunately, taking the manual approach to figure out what your data means can be overwhelming and time consuming.
This is another way data processing tools come in handy—to help you make more informed decisions for your brokerage. They can process and interpret data like:
- Sales forecasts
- Gross commission income (GCI) predictions
- Company revenue prediction
- Agent performance statistics
And more. Learning about what your raw data really means can help you determine the most relevant industry trends and make informed decisions accordingly.
Tools like Lone Wolf’s Insights will report on this information and more for you, especially about agent performance indicators that can inform your future decisions on coaching, support, and expansion for your brokerage.
Recruiting for a stronger brokerage
Speaking of supporting your brokerage, expanding through recruitment is key to the process. Build your best agent team yet by considering your agents’ strengths and weaknesses, then finding prospective agents who can fill any gaps.
Make 2023 your brokerage’s strongest year yet.
All in all, choosing the most effective software available will help to make the new year your brokerage’s best one yet. Strengthen your agent team with the most powerful digital tools at hand.
Find tech solutions that focus on efficiency to save time and energy for your staff and agent team, like our Back Office and Transactions integration. Take advantage of data analysis tools like Insights and BrokerMetrics to make informed decisions that help your brokerage grow.
As we head into 2023, take these tips with you as a guide to leading your brokerage to further success. See you in the new year!