How are you ensuring a successful 2023?
For a great 2023, your brokerage needs to use best-in-class tech tools to boost efficiency, streamline operations, improve client satisfaction, and more. If you still use outdated tech or have a clunky tech stack, your brokerage will struggle to have a highly successful year.
Wondering how you can make sure 2023 is great for your brokerage? We’ll cover the top changes you can make to help your brokerage thrive. Let’s start with a look at the first way – using the right technology.
1. Adopt the right tech tools
The first way to boost your brokerage success in 2023 is by adopting the right tech tools.
To ensure success, your brokerage needs the right front and back office tools. Managing your front and back office with paper methods or slow and difficult-to-use tech not only wastes hundreds of hours a year. The wrong tech also keeps your brokerage from reaching its full potential.
That’s why your brokerage needs best-in-class front and back office platforms. These platforms should be easy to use, comprehensive, cloud-based, and have wide integrations. With the right front and back office platforms, your team can do more in less time – helping your brokerage grow in 2023.
2. Automate data entry
Another way your brokerage can make 2023 your best year yet is by automating tedious data entry.
Your back office team spends hundreds of hours finding data, transferring it between back office systems, entering it in the right place, doing calculations with the data, and more. This is a massive waste of your team’s time. Even worse, manual data entry can prevent your team from handling more transactions – limiting your growth and revenue.
For 2023, your brokerage needs to eliminate manual data entry. The right back office tech can automatically move data between transaction management, accounting, commission calculation, and more. Plus, the right back office tech can automatically pull relevant data and perform calculations. That way, your team can take back their time to focus on high-value activities.
3. Consolidate back office technology
Along with automating data entry, consolidating your tech stack can help you thrive in 2023.
To manage your back office, your team needs transaction management tech, accounting, commission calculation, agent management technology, and more. Having a different tech tool for every area of your back office is clunky and hard to use. Plus, having so many tech tools is expensive.
Instead of having many different tech tools, you should consolidate your back office into one, complete back office platform. This platform should have modules for every area of your back office (like transaction management and accounting). It should also enable seamless data flow to further reduce manual data entry.
With a complete back office platform, your team can spend less time navigating your tech and more time focusing on growing your brokerage.
4. Prioritize wide integration
Choosing tech tools with wide integration is also crucial to having a great 2023.
While you should look for complete front and back office platforms, no one tech tool will have everything you need. For example, you might supplement your back office accounting tech with QuickBooks. If your back office platform doesn’t have wide integration, your team will have to manually transfer data to QuickBooks – wasting time and increasing errors.
To have the freedom to use the tech that works for your brokerage, you need tech tools with wide integration. Having good integration allows data to flow to and from your entire tech stack. This makes your tech easier to use. And, it allows your team to keep using tools that work for them. That way, your team can get the benefits of best-in-class tech with less manual data entry.
5. Move it to the cloud
Using cloud technology is another way you can ensure 2023 is a huge success for your brokerage.
You and your agents are constantly on the go. Yet, many brokerage tech tools require you and your team to be in the office on your local network to use them. To see transaction checklists, monthly statements, to-do lists, and more, your agents have to waste time going back to your office. This limits how many deals your agents can close – decreasing revenue and growth.
With cloud-based back office tech, you and your agents can access your tech stack from anywhere on any device. That way, you and your agents can access everything you need to be successful from home, office, and even on the road.
6. Create scalable processes
The last way to ensure 2023 is a great year for your brokerage is by creating scalable processes.
Low-tech back office management processes (like using paper files or excel spreadsheets) work when your brokerage is smaller. However, as your brokerage grows, these low-tech management methods limit how many transactions your team can manage – and how much your brokerage can grow.
By creating scalable processes with back office tech, you can streamline your operations now while preparing for growth down the road. Back office software can help you create scalable processes by reducing manual data entry, enabling bulk task management, automating tedious tasks, and more.
Creating scalable processes empowers your team to spend less time on grunt work and more time helping your brokerage grow.
Wrapping it up
2023 has the potential to be a blockbuster year for your brokerage. But, only if you have the right tools, systems, and tech in place.
To help your brokerage thrive in the new year, you need to adopt the right tech tools, automate data entry, consolidate your tech, have wide integration, move your tech to the cloud, and create scalable processes.
If you’re looking for the right tech to help your brokerage have a great year, BoomTown andBrokermint are the way to go. BoomTown is a leading CRM with predictive insights, lead generation, customizable websites, a mobile app, and more.
Brokermint is an easy-to-use, complete, cloud-based back office platform. Its 5 modules (transaction management, commission automation, accounting, agent management, and reporting/analytics) have everything you need to modernize and streamline your back office.
Book your BoomTown and Brokermint demos today to see how the right tech can help you have an awesome 2023.
Schedule a demo and see your back office with Brokermint.