The global pandemic was a catalyst for many businesses to think and behave differently. This, in combination with the increasing pressure brokers felt before, has accelerated the necessity to quickly adapt and transform in a way that many would call a revolution.
The key for broker-owners to come out on the other side of this revolution: align with a powerful brand. One with the power of size and scale, speed to execute quickly, and ability to anticipate the needs of the industry before it even crosses the minds of clients and competitors.
Adapt to the digital world
The world’s digital transformation is driving brokers and agents to quickly answer the demands of clients accustomed to on-demand data, seamless user experiences, and one-click delivery of goods and services. And while real estate has historically had a lag in digital transformation, the importance of answering these demands has never been more paramount.
The creation and subsequent improvement of virtual showings, remote closings, and a more efficient way to pay both agents and customers brought positive change to the industry but that is just scratching the surface of what we can expect in the months and years ahead.
Broker-owners need to think ahead to what digital tools they will require to help existing agents sell more homes, make more money, and work more efficiently. Tools like Coldwell Banker’s Listing Concierge help agents become twice as productive by providing them with a variety of property marketing packages to effectively market their listings digitally. With this program, a team of dedicated marketing coordinators handles project management, allowing agents to have more time to focus on their business. Those who are adopters of CBx + Moxi Present, another popular Coldwell Banker product offering, saw 100% higher average sales volume than those who don’t use the tool. This presentation and competitive market analysis tool allow agents to easily create, customize and share presentations with their clients.
Drive operational efficiency with transparency and collaboration
While not “revolutionary,” transparency and collaboration can increase operational efficiency for every organization. When these two ideologies are built into the onboarding process, agents can hit the ground running when they join the brokerage because training and communications are simplified. Coldwell Banker leverages technology to enhance the onboarding process – in fact, in the past year, we have reinvented that process to allow us to get an agent onboarded and ready to do business in less than one hour.
At Coldwell Banker, transparency and collaboration have become our mantra when it comes to creating products. We build tools with agents, not just for them, are transparent with successes and failures, and seek feedback along the way to make sure the technology is adopted and effective. Brokers use our tools, technology, and resources to help agents to sell more homes, make more money, and live exceptional lives. Because of our agent-driven strategy and broker support, affiliated agents who utilize products with our technology are two times more productive.
To drive growth, consider demographics and segmentation
Data is as valuable as gold and the best broker-owners are the ones that leverage data to gain insights and drive strategy to stay two steps ahead of the market and keep agents at the top of their game. Brokers should use data to help identify consumer demographics to mine untapped markets and regions to build more business.
And what happens when the market inevitably slows? Broker-owners need to segment their agents and analyze which agents are currently driving production and who may need extra support to reach the levels they’re capable of achieving in the future. By segmenting the agent population, brokers can effectively create an engagement strategy to hone how they work with each level to support agents at all stages of their careers. With nearly 100,000 agents around the globe, our success is built on understanding seemingly countless agent personas and using our data to drive the tools and coaching to make each of them successful.
Size, scale, and experience that matters
Aligning with a powerful brand like Coldwell Banker means many things, from experience, size and scale, to support, technology, and insights that produce true results for brokers. It’s no wonder that agent satisfaction skyrockets when a brand provides tools that win accolades and listings – just check out Coldwell Banker’s 2020 Agent Priorities Report. We’ve continued to thrive for 115 years because we empower our broker-owners and agents with the right support so they can focus on growing their business.
2021 presented a revolution – for agents, broker-owners, and brands looking to adapt to an ever-changing world. With key partnerships, such as the one between Coldwell Banker and its vast global network of shining stars, we can rise to the occasion together.