Brokerage

Cut out the ‘noise’ and improve your brokerage

Answering these questions will help remove the distractions from running your business

There’s so much noise in our business. Zillow and Trulia are taking over. National brands are coming in with their supposed all-encompassing tools and systems. Dozens of tech companies are selling “stuff” that we might or might not need. And agents don’t want to embrace all the investments you are making to improve operations.

As a broker trying to grow and profit from your business, how do you navigate through all this and cut down the noise? Let’s break down that noise into something manageable. Consider these scenarios and solutions to cutting the noise.

You own a brokerage, and you’re trying to make a profit

  • You need to look at what is a “must have” versus what is a “nice to have.”
  • If you’re going to make an investment in technology or services, make sure you have the appropriate buy-in before you write the check.
  • Once you make that investment, you must have the appropriate accountability metrics in place at the management level to ensure return on investment (ROI).

You own a brokerage, and you’re trying to reinvent your business and stay ahead of emerging trends

  • You need to be a true, fearless leader. You can’t be afraid to take a chance.
  • You need to make sure you have buy-in from your leadership team. They need to commit and also lead by example.

You own a brokerage, and you’re trying to reinvent your business and get agent buy-in

  • Know what your agents want and what they are willing to “own.”
  • Educate your agents to ensure they see the value in what you are doing.
  • Hold your agents accountable.

Too often, I see brokers reacting to a crisis. Why not be proactive and eliminate potential problems? If you’re going to cut successfully through all the noise, you need to plan ahead.

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Step back and analyze what is going on in the industry and what is the best way for you and your firm to address the issues you’re facing. What works in one market might not work in another. What works for one size or type of company might not work for another.

What works best for you, your agents and your business in your market? That’s what you have to determine if you’re going to gain control of your business and make a difference.

What noise plagues your business, and how have you overcome it? Please continue the conversation in the comments section below.

Jose Perez is the founder of PCMS Consulting.

Email Jose Perez.