Brokers boost tech spending, recruiting

Part 4: Marketing expenses, office staff seen as fair game for cuts

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Real estate brokers are cutting office staff and reducing marketing and advertising expenses to survive the downturn, but most have still managed to beef up spending on technology and agent recruitment and training in the past year, according to a broker survey conducted by Inman News.

The survey shows most brokers haven’t pushed to increase their share of commission splits with agents in the past year, either — or the fees they charge to agents for services. Working with distressed properties was also seen as crucial, with 77 percent of brokers surveyed reporting additions to that area of their business in the past year.

To manage costs, three out of four brokers participating in the online survey said that in the past year, they’ve either decreased (53 percent) or left unchanged (23 percent) their marketing and advertising expenses.