Today's real estate agents are looking for more than just the basics from their brokerage. In order to attract and retain productive agents, successful brokers are offering a wide range of services. If you want your brokerage to stay ahead of the competition, it's time to step up your game.
Providing High-Quality Services
Offering high-quality services and support will not only help you attract more agents, but also better agents. By providing valuable services, you can justify higher splits and fees. However, it's important to strike a balance. Offering too many services too soon can overwhelm yourself and your staff.
In this article, we will explore a comprehensive list of services that your brokerage can provide, along with detailed descriptions and estimated costs. Let's dive in.
Buyer & Seller Leads
Prospecting is the name of the game for agents, and they're always hungry for leads. By supplying your agents with leads, everyone wins. With more leads to work with, your agents will close more deals, benefiting both them and your brokerage.
Offering leads can attract junior agents with less experience who may require more coaching and education. Finding the right balance between attracting new talent and maintaining seasoned professionals is key.
Why Smart Brokers Provide Leads
Providing leads can generate a significant return on investment (ROI) if you ensure proper training and accountability for your agents. Additionally, talented agents who just need a little push in their business can greatly benefit from brokerage-supplied leads.
Consistent Digital & Print Marketing
Agent marketing is crucial, yet many agents fail to consistently follow up with their clients. As a brokerage, you can provide marketing services such as mailing monthly postcards, social media content assistance, and professional listing and buyer presentations. By offering these services, you help your agents maintain consistent marketing efforts and reinforce your brokerage's brand image and standards.
Listing Preparation & Marketing
To attract listing agents, consider offering services that help with listing preparation and marketing. This can include tasks like cleaning, staging, photography, video production, and promotion. While outsourcing these services is recommended for smaller brokerages, negotiating volume discounts with vendors can keep expenses in check.
Why Smart Brokerages Provide Listing Preparation & Marketing Services
By providing listing preparation and marketing services, you not only attract the right agents for your brokerage but also maintain your brand's image and standards. Proper marketing helps listings sell faster and for a higher price, which reflects positively on your agents. Additionally, many top-producing agents are willing to pay more for the convenience of having all their listing marketing handled by the brokerage.
Transaction Management Services
Taking care of transaction management tasks can significantly increase agent productivity. By offering transaction management services, you free up your agents' time, allowing them to focus on generating leads. This can be offered as an a la carte service or included in every file, depending on your brokerage's preference.
Why Smart Brokerages Provide Transaction Management Services
Managing transactions not only saves your agents time but also streamlines the completion of required brokerage files. Since you already have someone managing those files, adding transaction management services is a cost-effective way to enhance your brokerage's offerings.
Agent Signs & Lockboxes
Installing, removing, and storing signs and lockboxes may seem simple, but it's a service that agents greatly appreciate. By handling these tasks for your agents, you save them time and frustration. The ability to maintain brand standards and promote your brokerage through branded signs is an added benefit.
Meetings & Events
Real estate is a social business, and organizing team meetings, social happy hours, and client events can foster agent relationships, increase retention, and make recruiting easier. These events provide valuable networking opportunities and combat the loneliness that some agents may experience.
Education & Training
To serve agents throughout their careers, a real estate brokerage must offer a comprehensive education and training program. This can include pre-licensing education, structured training for new and newer agents, support through mentoring, and specialized training for productive agents and top producers. Providing ongoing education ensures that your agents are knowledgeable, productive, and up-to-date with the latest industry changes.
Office Management Services
Running a brokerage involves various management tasks, including agent supervision, file compliance, financial management, office reception, and recruiting. While these services may not be advertised, they are essential for the smooth operation of your brokerage.
Essential Software for Real Estate Brokerages
Leveraging software solutions can help you deliver services efficiently and manage your brokerage effectively. From lead generation and marketing tools to transaction management software, utilizing the right software can save you time and money. Be sure to explore different options and choose the ones that align with your brokerage's needs.
Finding the Right Balance
Offering a wide range of services requires finding a balance between providing value to your agents and avoiding overwhelming your staff. Using software solutions, outsourcing tasks, and hiring employees when necessary can help you strike that balance.
Remember, every brokerage is unique, and the services you choose to offer should align with your goals and the needs of your agents. By providing valuable services, you'll attract and retain top talent, setting your brokerage up for success.
What services did you offer when you set up your brokerage? Are there any services you think I missed? Let us know in the comment section below.
