improve your real estate agency

Running a real estate agency requires hard work and the know-how to run a well-oiled machine. If you’re looking to grow however, it’s unlikely to happen unless you actively work towards it.

In today’s real estate market, competition is at every turn – so it’s important you stay on top of your game, stand out from the noise and keep building on what you have already.

Here is some groundwork to get you on your way:

Be seen. Be heard. Be trusted.

Starting with a solid value proposition will enable your clients to see exactly what they can expect from your agency, and why they should choose it over a competitor.

Your value proposition should:

  • Clearly state how your services will solve the core problem for home movers
  • Emphasise the specific value of your services (for example: ‘an obligation-free market appraisal within three days’ as opposed to a broader ‘an-obligation-free market appraisal’.)
  • Talk about your point of difference. You can undercut your competitors in areas such as pricing, but it’s vital to make it known why you’re unique. Why choosing your agency will benefit them.

Have you heard the term ‘less is more’? When it comes to your agency’s website, it would be wise to keep this in mind. No one hangs around on a cluttered website. In fact, it can be quite a turn off, leaving potential clients and customers confused. Keep it simple – the layout and the message.

Pay ongoing attention to your website and don’t view it as a one-off project. Your website is often the first touch point you have with new customers and the basis of their decision to deal with you. Keep your website fresh and active, ensuring you upload new content regularly.

Choose your team wisely

Good staff are crucial to any agency that seeks to operate successfully. But, if you’re hungry for growth, you need a great team behind you. If your current team is not performing, don’t be afraid to push them to strive for more.

As your agency grows, you’ll need to hire more and more staff. Be mindful not to settle for a ‘so-so’ applicant because you need somebody right now – even if you needed them yesterday. Keep standards at the high level your agency deserves and feel good about your choice before sealing the deal – it will prove a positive move for your agency in the long run.

When interviewing new agents for your team, try and determine whether their attitude is real, or whether it’s just a show, to get the job. Don’t underestimate the value in passion for the industry, this can often outweigh the length of experience or depth of knowledge (both of which can be developed over time). A ‘can-do’ attitude is an excellent foundation for both new and existing recruits, and will mean the difference between stagnant performance and growth.

Streamline processes to increase productivity

You’ve got the right people in place; do they have the right tools and processes to deliver big outcomes?Doing things a certain way because ‘that’s the way it’s always been done’ isn’t enough. In fact, you might find that sticking to the status quo has been holding your agency back more than anything else.

Refining your processes on a regular basis (such as filing, invoicing and marketing) will help evolve certain tasks into more efficient ones, and streamline the ones that are unnecessary.

Cloud-based accounting is a great way to increase productivity by cutting out the need to install and update software on computers. It also allows your team to access documents from any device, anywhere.

Turn to electronic marketing and invoicing to cut down on printing, folding and post office runs. Email marketing, for example, can bring repeat business to your agency by sending email to your database of past purchasers. This keeps them informed of your current property portfolio – at the click of a button. Emailing invoices will also cut down on printing, filing and paper waste.

As you can see, growing your real estate agency requires a holistic approach. With the right elements covered, and the necessary cash flow in place – you can expand your agency as far and wide as you desire!

If you’d like some help with cash flow and the freedom to grow, get in touch on 1800 003 569.

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About 

Justin Steer is a real estate finance expert with nearly 20 years’ experience running businesses involved in the sale and management of both residential and commercial property. All content written in these blogs is by Justin, who is passionate about sharing his knowledge and insights in helping real estate agents create the financial freedom to grow.

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