Get a Demo

Why Now Is the Best Time to Invest in Your Real Estate Brokerage

Real Estate Back Office

Are you setting your brokerage up for success in the future with smart investments today?

Making smart investments in your brokerage can set you up for success now and years in the future. But, it can be hard to focus on investing in your brokerage when you have so much to do in the short term. Or, when you worry about market volatility. However, not making smart investments can stall brokerage growth and prevent you from reaching your goals.

You might be wondering if now is the right time to invest in your brokerage. In this post, we’ll cover the top reasons investing in your brokerage today is a smart move. To start, let’s take a look at the first reason – investing in your brokerage can give you a leg up on the competition.

Get a competitive advantage

The first reason investing in your brokerage today makes sense is that it can provide you with a competitive advantage.

Clients have many choices when it comes to brokerages. Using manual front and back office management or outdated tech tools can make it hard to convince clients to choose your brokerage. Because they want a simple and modern real estate experience, prospective clients may overlook your brokerage in favor of your competitors.

Investing in your brokerage can give your agents the competitive advantage they need to wow clients and generate referrals. Adopting modern front and back office tech can help you streamline operations, automate tedious tasks to free up your team, keep agents on track, and more. All of this can help your brokerage create the seamless, stress-free, and high-tech experience clients expect.

By investing in modern front and back office platforms, you can provide an outstanding client experience that provides a competitive advantage over other brokerages.

Boost growth

Another reason to invest in your brokerage now is to boost brokerage growth and profitability.

Outdated tech or manual brokerage management can seriously slow down your team. To manage transactions manually or with clunky tech, your team has to manually find, enter, and transfer data. This can waste hours of your team’s time every day.

When your team has to spend so much time on each transaction, they can’t handle an increased transaction volume. This can stall your growth – unless you hire more staff. However, hiring more staff can cut into any new profits – making it hard to see any real growth.

Investing in the right technology can empower your team to do more with less. Instead of spending hours on manual transaction management, your team can use the right back office tech to automate data entry and transfer. That way, your team can manage more transactions faster – boosting brokerage growth.  

With the right technology investment, your team can manage more transactions (without the need to hire more staff) to help you reach your brokerage growth goals.

Reduce expenses

Along with boosting growth, another reason to invest in your brokerage today is to cut expenses.

Both manual brokerage management and outdated tech can skyrocket your expenses, With manual brokerage management, your team has to spend more time on each task. This limits how much each team member can do. The only way to increase team capacity is to hire more team members – which leads to higher expenses.

A clunky and overly complicated tech stack can also lead to high expenses. With a large tech stack, you have to pay for a ton of solutions just to manage your front and back office. Plus, with clunky tech, your team hardly saves any time – leading to increased expenses as you hire more staff to keep up with growth.

When you invest in the right tech for your brokerage, you can streamline your operations to cut expenses. By investing in complete front and back office platforms, you can shrink your tech stack to 2 solutions – reducing expenses. And, investing in easier-to-use tech helps your team get more done each day. That way, you can hire fewer team members – keeping your expenses low.

Investing in your brokerage today can help you reduce expenses to boost profitability and brokerage growth.

Hire and retain top talent

Lastly, now is a great time to invest in your brokerage because it can help you hire and retain top producers.

Your brokerage is only as good as your agents. The best agents are selective about brokerages. If your brokerage still uses manual processes or clunky tech tools, top talent will skip over your brokerage. Without the best agents, it can be hard to grow your brokerage and reach your goals.

Investing in modern tech that empowers agents to maximize their performance can help you attract and retain top producers. Tech like a predictive CRM, best-in-class offer management, lead generation reporting, a mobile app, cloud-based tech, and more make it easy for great agents to be successful.

With the right tech, you can attract and retain the best agents by giving them everything they need to succeed.

Wrapping it up

Smart business investments can help your brokerage thrive now and for years to come.

One of the best ways to invest in your brokerage is by adopting best-in-class technology. Investing in the right technology can give you a competitive advantage, boost growth, slash expenses, and help your brokerage attract and retain top talent. With best-in-class tech, it’s easy to hit your brokerage growth goals.

If you’re looking for the best tech to invest in, BoomTown and Brokermint are the way to go. BoomTown’s predictive CRM, lead generation, custom websites, mobile app, and more have everything your agents need to impress clients, close more deals, and generate referrals.

Brokermint’s five back office modules – transaction management, commission automation, accounting, agent management, and reporting/analytics – can empower your team to manage more transactions, boost efficiency, modernize your back office, streamline operations, and more.

Book your BoomTown and Brokermint demos today to see how investing in your brokerage can help you reach your brokerage growth goals.