BrokerageIndustry News

Brokers boost tech spending, recruiting

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

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Editor's note: This is Part 4 in a series of stories based on an Inman News survey of nearly 200 real estate brokers. Part 4, below, details areas in which brokers have made cutbacks to survive the downturn, as well as areas where they continue to maintain or even increase investment. Part 1 explored brokers' views of the government's role in the industry; Part 2 examined brokers' attitudes about rules and policies established by the industry itself; and Part 3 focused on market segments where brokerages have been gaining or losing business. The series will conclude with Part 5, in which brokers discuss what gives their firms a competitive advantage. 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 pus...