If you are a Realtor, you've probably heard a lot about what makes a virtual brokerage different. So what makes them different? Honestly, there isn't a difference. As fun as it is to write about a new invention that’s going to revolutionize the real estate industry, that’s just not what’s happening. What most people don’t realize is that it’s already been revolutionized. It’s been naturally and irrevocably self-revolutionized because of technology. Before the internet it took a huge team of people to do one thing. Using the word virtual is just a fancy way of saying that you don’t use a fax machine anymore. Today, we do everything digitally
Most people think the 100% commission business model is new to the real estate industry, but it’s not. The 100% commission model has been around since 1965 when Realty Executives International created it. However, Re/Max founder Dave Liniger made it popular when he launched the model in 1973. It has been an effective business model for Re/Max, however, the realty chain has changed the commission to a 95% model due to lack of revenue in the past.
Do you feel like the company does not appreciate your efforts to bring business to the brokerage? Are office politics restricting you from working efficiently? Is there another brokerage company that is luring you to switch by offering better recruitment promises?
To use a CRM or not to use a CRM, that is the question. As a Realtor, you should always use a CRM, a Customer Relations Management tool. At the beginning of any realtors career, it can seem cumbersome and far too advanced for your purposes of just finding qualified candidates. However, it will soon become a necessity and here's why.
When you only have one or two potential clients at the beginning, you're going to remember everything about them. As you move further into your career and the number of people that you casually come across grows, your memory and post-it notes will not be able to keep up. If for no other reason than staying organized,
Do something different this year by executing the right business plan for your real estate business. If you're a realtor without a marketing or business plan, you could be letting your future slip through your hands. It may feel like you should leave the marketing and business plans to your brokerage but don't. The idea of a finding a business plan just for you can seem daunting, but you’re in business just like them. You need marketing that drives sales for you, not the whole office. You need a business plan that allows you to identify and reach goals that are in your interest, not the company’s. You can accomplish this with the right business plan that fits how you work, what your needs are and where you'd like to see yourself in the future.
Choosing the right real estate brokerage is as important as choosing the right friends. Sure, anyone could be your friend but at the end of the day, don’t you want to choose friends who are there for you during both the good times and the bad? That’s what it’s like choosing the right real estate brokerage especially in some states that require you to be sponsored by a broker when you go to take your real estate exams.