Top 5 Real Estate Brokerage Management Challenges

March 8th, 2018 – in propertybase crm real estate

Building a real estate business as a broker is not free from its growing pains and frustrations. One of the most challenging aspects of real estate brokerage management is likely trying to find just the right solutions for these frustrations.

For the real estate broker looking to build a more efficient and profitable business, what are some of the simple solutions to the biggest pain points?

1.Training new agents

It’s never easy being the newbie on the block, and as a broker your priority is to get your new agents up and running as quickly as possible to ensure their success in driving new business back to the brokerage.

Training your agents on all the company-wide systems, while making sure they are comfortable in understanding your processes, will increase the likelihood of them retaining clients. This will also build a foundation for growth and longevity for your brokerage. Part of this training includes using systems, like a robust real estate CRM, that has an above-and-beyond training process and ongoing support system.

2. Understanding the metrics

Regardless of the type of business owner you are, the magic is in the metrics. Any brokerage should have consistent clarity around what their metrics are telling them. What sales tactics are working? Which marketing campaigns are driving traffic back to your website? What activities from your agents are most effective in securing new listings?

If you don’t have a comprehensive tool measuring the success of your marketing efforts, sales techniques and relationship-building activities, it’s likely you won’t be able to make strategic time, money and effort investments that you know will offer the ROI you’re after.

3. Technology challenges

If you manage a real estate brokerage and insist that you have never faced technology challenges, then you’re probably only kidding yourself. Some of the biggest headaches that brokers and owners face center are around the abundance of technologies claiming to “supposedly” streamline their business.

Real estate technology will only make your life, and the lives of your agents, easier when it’s simple to use, offers solutions to everyday problems, and is adopted by everyone. By using a comprehensive real estate CRM solution that understands the variety of challenges brokers face and solves these in a user-friendly way, you can finally get your agents on board with using the technologies you know will improve your business.

4. Focusing on the macro, not the micro

If you feel like you’re drowning in Excel spreadsheets or Google sheets with stats and strategies floating around across dozens of agents in your office, you might feel like things are getting lost in translation… or delivery. You’re probably right. Wouldn’t it be nice to have one place for all your wins or losses, strategies and tactics, and the activity of your agents as a whole? Taking a look at the “macro” of your activities in your brokerage will give you much better direction in your overall strategy.

Trying to piece together all the little elements in your business to drive your future strategies is an impossible activity. Having a dashboard with big data and analytics can give you an instant snapshot into the health of your business, the activities of your agents and your home inventory. You’ll have the crucial information to better understand what is and isn’t working.

5. Communication issues

When you have a group of agents striving for the same goal in various and personalized ways, you end up with communication issues. It’s these communication issues that increase the need for having one tool across the entire brokerage for measuring successes, submitting paperwork, calculating commissions, tracking progress, and storing valuable client information. The robust real estate CRM tool from Propertybase can do just that – without the technology headaches or lack of support that comes from other CRM providers.

As a broker, there’s no magic formula for fixing all your business problems, but by making smart strategic decisions around comprehensive tools that your agents will actually adopt and utilize, your business will benefit from more organization, the addition and retention of talented agents, and the kind of collaboration that comes with a tool that makes your team more successful and profitable.

SIMPLE. POWERFUL. FOR REAL ESTATE PROFESSIONALS.

If you’re interested in learning more about Propertybase real estate CRM technology, automation, or have questions on how to streamline your business strategies, please contact us! Click on Request Demo at the top of the page or contact us via email at marketing@propertybase.com.

Author: Nate Aswege