In today’s industry, it’s impossible for agents to go it alone — they can’t market, negotiate, write up contracts, show buyers houses and list properties by themselves all while maintaining a high level of service. This is where brokerages have a chance to prove their value as service providers for their agents — and earn some commission back.
Coldwell Banker agents now have an entire marketing concierge to choose from when listing houses. The program, called Listing Concierge, was launched by NRT and will be rolled out to all agents by the end of 2019.
Agents have the option to choose from different packages, which can include professional photography, brochures, digital materials, print and television advertising, social media advertising and more. And in today’s industry, when agents are expected to wear five, six, seven hats, it’s impossible for them to go it alone — they can’t market, negotiate, write up contracts, show buyers houses and list properties by themselves while maintaining a high level of service. This is where brokerages have a chance to prove their value as service providers for their agents.
Is a marketing concierge of value to agents?
Instead, of juggling 15 tasks per transaction, agents should focus on one or two things they can do really well and find solutions for everything else. This marketing concierge is great for agents who don’t have the time or expertise to do their marketing. Depending on the package, agents will spend between $300-$1,000 for marketing.
According to NRT, the marketing concierge has had measurable success so far. Agents using the Listing Concierge are twice as productive as affiliated agents who don’t, and listings in the program sell closer to the list price than those not using the service.
As long as the packages don’t become cookie cutter marketing, where every agent has the same ads and posts, the Listing Concierge is a good thing for agents. There needs to be a creative element behind each package for this to stay beneficial for agents.
Why every brokerage needs to do this
My own team, One + Company, just implemented an agent concierge service. With this, agents on our team can pick assistant services for themselves, à la carte style. This service gives agents extra support when they need it, and can be tailored to fit their needs. This way agents can focus on their strengths while delegating out other tasks.
If every brokerage isn’t trying to build a company within their company to take back some of the commission that they are giving to agents, their money is going to shrink to a point they cannot sustain. In the last 4-5 years, brokers have continued to lose leverage. The competition for agents is so fierce, making agent commission higher. Brokerages need to be making money somewhere else.
Concierge services are a way for brokerages to take back some of the commission — marketing concierge, administrative concierge and video production concierge are a few services agents need. If big brokerages start paying attention to the weaknesses of their agents, they can offer services that will provide value to their agents, and in turn, their clients.