Re-evaluating broker value

NEW YORK -- In a world where real estate agents can conduct the vast majority of their business online, brokers can face questions about their value to sales agents. Agents can now work from almost any location; advertising is easier (and cheaper) than ever; and Web tools to connect with clients abound.

Nevertheless, brokers can help agents navigate these tools and stand out in the real estate crowd, said speakers at a panel at Real Estate Connect Thursday.

"Brokers have had to rethink what is the best possible environment for success. There are all kinds of different tools, but (agents) get lost -- how are (they) going to effectively use them?" said Ken Baris, president of Jordan Baris Inc. Realtors.

Agents are looking for six attributes in a broker, said Jonathan Kauffmann, principal broker-owner of Nest Realty in Virginia. They demand: 1) fiscal responsibility, 2) education and information, 3) brand differentiation, 4) technology, 5) marketing tools, and 6) a Customer Relationship Management (CRM) system, he said.

"It's so important for agents to stay in touch with past clients. (A CRM) is how you track what you've done. Not many brokers or agents use CRMs, but it’s a great way to make more money and be as efficient as possible," Kauffmann said.

Perhaps the most important tool brokerages have to offer agents is their brand.

"Branding is not just the logo, but the spirit of the organization and what somebody is deriving from your company. It's what you're really about," Baris said.

For some brokerages, that's exceptional service, experience or know-how. The point is to differentiate yourself from the pack, panelists said.

"Some people relate better to print (advertising) and some to online. But our print is a little bit different. Every single week, every Friday, we have a new brochure with current listings and open houses for that weekend. Before we open our mouth, they will know who we are," said Jackie Teplitzky, managing director and team leader for Prudential Douglas Elliman.

"There are so many different tools out there, starting with a great Web site. We launched ours 50 weeks ago and agents have come up to me and said I want to join (Nest Realty) because I have three clients who exclusively use your Web site," Kauffmann said.

Brand familiarity is also a factor. ...CONTINUED

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