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Top 3 Habits of Successful Brokerages You Should Implement Today

Real Estate Back Office

Do your brokerage habits lead to success?

Successful brokerages know that one action doesn’t lead to success. Instead, these brokerages focus on creating habits that build a foundation for success. Your brokerage habits can be the difference between reaching your goals and falling short – so it’s important to make sure your brokerage habits are aligned with what you want your brokerage to accomplish.

Wondering what habits will help your brokerage be more successful? We’ll cover everything you need to know about the top three habits of successful brokerages you can implement today. To start, let’s take a look at the first habit – business tracking.

Habit 1: Track your business

The first habit of successful brokerages you can adopt is business tracking. Tracking your business provides insight into where your brokerage is now and how you can achieve your goals going forward.

Collecting data on brokerage metrics like the number of open, pending, and closed transactions is crucial to understanding your brokerage health and how to reach your goals. However, manually collecting this data can be time-consuming for your team. Plus, analyzing this data, creating reports, and deriving meaningful insights can be an even bigger time suck for your team.

Successful brokerages adopt a back office system that can automatically collect and analyze data. The right back office software automatically collects data like transaction volume, cash flow, agent performance, and more. With the right back office software, your team can quickly and easily turn this data into up-to-date brokerage reports that provide the insight you need to grow your brokerage.

Tracking key brokerage metrics with back office software is one habit of successful brokerages you can adopt to increase your brokerage growth and success.

Habit 2: Consolidate technology

Another habit of successful brokerages you should implement is consolidating your tech stack.

To manage your back office, you need systems for transaction management, commissions, accounting, reporting, agent management, and more. Adopting a point solution for every aspect of your back office creates a tech stack that’s hard to use, time-consuming, and frustrating. Having so many tech tools slows your team down and reduces brokerage growth.

That’s why successful brokerages consolidate their back office tech into one, complete platform. With one platform to manage your entire back office, your team can spend less time navigating your tech – freeing them up to focus on revenue-driving activities.

By consolidating your tech stack as successful brokerages do, you can streamline your team’s workflow – allowing them to focus less on administrative tasks and more on high-value tasks to grow your brokerage.

Habit 3: Automate agent workflow

The last habit of successful brokerages you should adopt is automating your agents’ workflows.

How many deals your agents close determines how much your brokerage grows. If your agents are bogged down in menial tasks like document creation, record keeping, manual signatures, and more, they won’t be able to close as many deals. Instead of maximizing their potential, your agents will be stuck doing busy work – hurting brokerage growth.

Successful brokerages prioritize agent productivity by automating agent workflows with back office software. The right back office software can automate data entry and transfer, record keeping, offer management, document signings, and more. By automating your agents’ workflows, you can free your agents up to close more deals to grow your brokerage.

Automating your agents’ workflow with back office software is a habit of successful brokerages you should adopt. This automation can empower your agents to take back their time, close more deals, and help your brokerage reach your goals.

Wrapping it up

The right habits can help your brokerage grow and achieve your goals. However, the wrong habits can hold your brokerage back and make it hard to grow. By looking at the habits of successful brokerages, you can find and implement habits that will help your brokerage thrive.

To help your brokerage succeed, you should implement the top three habits of successful brokerages – tracking your business, consolidating your technology, and automating your agents’ workflows. Adopting these top three habits sets your brokerage up for success.

If you’re looking for back office software that encourages habits of successful brokerage, Brokermint is the way to go. Brokermint’s complete, cloud-based back office platform makes it easy to consolidate your back office into one tech tool. Thanks to automation, Brokermint also makes it a breeze to track brokerage metrics and streamline agent workflows.

Along with tools to help you adopt successful habits, Brokermint has five modules – transaction management, commission automation, accounting, agent management, and reporting/analytics. With these five modules, Brokermint has everything you need to modernize and streamline your back office.

Book your Brokermint demo today to see how the right back office software can help your brokerage create habits that lead to success.