RETECHNOLOGY PREMIUM MARKETPLACE RELATED PRODUCTS | WEBINARS | SPECIAL OFFERS
You are viewing our site as a Broker, Switch Your View:
Agent | Broker Reset Filters to Default Back to List
Due to the ongoing situation with Covid-19, we are offering 3 months free on the agent monthly membership with coupon code: COVID-19A
UNLIMITED ACCESS
With an RE Technology membership you'll be able to view as many articles as you like, from any device that has a valid web browser.
Purchase AccountNOT INTERESTED?
RE Technology lets you freely read 5 pieces of content a Month. If you don't want to purchase an account then you'll be able to read new content again once next month rolls around. In the meantime feel free to continue looking around at what type of content we do publish, you'll be able sign up at any time if you later decide you want to be a member.
Browse the siteARE YOU ALREADY A MEMBER?
Sign into your account6 Steps for Growing Your Real Estate Brokerage
January 02 2014
Like most businesses in the real estate industry, brokerages must grow at a rate in sync with or even ahead of the communities they serve in order to prosper and profit.
In today's market, it's prudent to take advantage and expand now while real estate values are still on the rebound.
Here are six steps I've encountered in my real estate career that have helped keep brokerages alive and well:
1) Embrace Calculated Risks: If you want to grow your business, you must be prepared to take calculated risks. Growth is change, after all. Change always entails risk. If you have a brokerage, you've already accepted risk. If this makes you nervous, think about the larger risk of stagnation.
2) Study Up: Doing your homework will help you be confident in taking those calculated risks. Subscribe to top real estate social media channels, news feeds and email newsletters from groups such as the local Chamber of Commerce. Pay attention to the hyperlocal, local and national industry news and statistics, with an eye out for profitable business opportunities.
3) Incentivize Your People: I knew a broker who hung a wall-sized map in his office. In blue, he highlighted municipalities where he commonly sold homes. In green, he highlighted where he wanted to expand. In red, he circled neighborhoods where his agents rarely ventured. If someone sold a house in a red zone, he bought lunch for the office. It was sandwiches, nothing fancy. But his agents worked hard to be the one everyone thanked for lunch.