Does your brokerage have a strong foundation that can help you accelerate growth?
When thinking about growth, you probably think about increasing sales volume and getting more clients. However, without a strong brokerage foundation, it will be hard to attract clients, retain top agents, and close more deals – making it almost impossible to grow.
If you’re looking to accelerate your growth, you need a strong brokerage foundation. Before we discuss how to build a strong brokerage foundation, let’s take a look at why it’s crucial to your brokerage growth.
Why do you need a strong brokerage foundation to grow?
Much like a house, your brokerage needs a strong foundation to grow. A home needs the right foundation and support to grow from one story to two stories and beyond. Without the right supporting materials, the house will collapse as more stories are built.
The same is true for your brokerage. Without the right processes, procedures, and tools, your brokerage will struggle to grow. Inefficient processes and tools might work when you only have a few agents with a few clients. However, once your brokerage grows to tens of agents, your lack of streamlined workflows and top tools will slow your agents and team down.
With your brokerage foundation holding your agents and staff back, your brokerage will struggle to close more deals and reach your sales volume goals. Even though everyone is working hard, your brokerage growth will stall.
Instead of letting a shaky brokerage foundation hold you back, you need to establish a strong brokerage foundation that helps your agents and staff be more productive. This will help you unlock brokerage growth.
How can you build a strong brokerage foundation?
Establishing a strong brokerage foundation requires creating processes and adopting tools that remove bottlenecks, increase efficiency, and make it easier for your agents and staff to do their jobs. Here are the top ways you can build a great brokerage foundation:
The first way to build a strong brokerage foundation is by streamlining workflows and processes.
Without a strong brokerage foundation, your agents and staff manually manage everything. To manage prospect info, follow-ups, paperwork, transactions, commission calculation, accounting, and more, your agents and staff have to waste hours with paper files, spreadsheets, and other low-tech methods.
While these manual workflows might work initially, these processes will eventually limit how many deals your agents can close and how many transactions your staff can manage. Once you reach that point, your brokerage growth will stall.
To accelerate growth, you need to streamline these manual processes with the right front and back office software.
A predictive CRM can automatically keep track of prospect info, remind agents when to follow up, generate leads, and more. Modern back office software can automate data entry and calculations, centralize document storage, generate reports, and more to enable your team to manage more transactions.
By building a strong workflow foundation with the right tech, you can help your agents and staff get more done in less time to accelerate brokerage growth.
Your agents are crucial to growing your brokerage. If you don’t have a strong brokerage foundation, your agents won’t get the support they need to reach peak performance.
Without a strong agent management brokerage foundation, your agents have to learn your brokerage, set goals, stay accountable, make sure they’re performing as well as other agents, and more, themselves. On top of finding prospects, working with clients, getting referrals, and other tasks, these agent responsibilities can be hard for your agents to keep up with.
A weak support foundation makes it hard for agents to serve clients better and ramp up sales volume. Instead of helping you grow your brokerage, agents will be too busy with added agent management tasks to close more deals.
Creating a strong agent support foundation can help you accelerate growth. The easiest way to establish great agent support is with the right back office software. This software makes it easy and quick for agents to set goals, track progress, and compare performance with agent dashboards.
And, modern back office software makes it easier for you to help keep agents accountable and provide support – so both you and your agents can reach growth goals.
Recruit top agents
While helping your current agents close more deals will increase brokerage growth, you’ll also need more agents to accelerate brokerage growth.
Recruiting any agent won’t help your brokerage grow. Instead, you need to recruit top performers who are the right fit for your brokerage. But, if you don’t have a strong brokerage foundation, it can be hard to recruit these top agents.
The best agents want streamlined processes and best-in-class tech tools to give them a competitive edge. These agents also want to be paid quickly. A weak brokerage foundation with clunky processes, outdated tools, and slow commission calculation and disbursement will drive away agents who could help you accelerate growth.
To recruit top agents, you need to strengthen your foundation with the right front and back office software. These tools will provide agents with a competitive advantage over low-tech brokerages. The right back office software can also help you calculate commissions faster and pay agents the next day.
With a strong brokerage foundation, you can recruit top talent to unleash brokerage growth.
Adopt best-in-class tech
Lastly, you can build a strong brokerage foundation by adopting leading real estate technology.
While real estate is becoming increasingly digitized, many brokerages either don’t use much tech or use the wrong tech. Relying on spreadsheets or paper files creates a weak brokerage foundation that makes it hard to grow. Your team has to spend so much time managing paper files or spreadsheets – leaving them little time to close more deals or manage more transactions.
Similarly, if you use outdated tech with a local network, clunky user interface, and unintuitive navigation, you lack a strong brokerage tech foundation. While your team does use tech, they see little benefit from it. Your agents and staff have to spend hours fighting with your outdated tech weekly – or even daily. As such, they can’t close or manage more transactions to help your brokerage grow.
So, you need a strong brokerage tech foundation to accelerate growth. You can do this by looking for modern, cloud-based software that’s a complete platform. Your tech should do everything you need for either the front or back office. That way, your tech will be easy to use – reducing the time your team has to spend learning it.
With best-in-class tech tools, your agents and staff can do more each day – helping you grow. The right tech can also give you a competitive advantage over other brokerages, which can boost growth. Plus, you can easily track performance, generate reports, and find ways to further increase brokerage efficiency and accelerate growth.
Wrapping It Up
You want to grow your brokerage. So, you add more agents and try to close more deals. Yet, you aren’t reaching your brokerage growth goals. The problem could be that you lack a strong brokerage foundation, which is slowing your growth.
To accelerate your growth, you should establish a strong brokerage foundation by streamlining workflows, supporting agents, recruiting top agents, and adopting great brokerage tech.
Looking for top tech that can help you unleash growth? Brokermint is a modern, cloud-based, complete back office platform that can help you streamline workflows through automation. Its agent management module makes it easy to provide the support agents need. With commission automation, you can also pay agents faster to increase retention. Together, Brokermint’s five modules provide everything you need to build a strong back office foundation.
Book your Brokermint demo today to get started accelerating growth.
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