The most successful brokers I see today focus on relationships from the inside out. They’re implementing new processes for working across their teams and the culture they create, as well as new ways of keeping their own house in order. Not only do these strategies allow their teams to embrace new technologies and be more productive, but in doing so, they empower their agents to deliver a superior experience for their customers. It’s an experience that emphasizes new tools, but doesn’t ignore the “people-centric” components that have gotten us to this point.
The Importance of Your Workspace in Creating a Connected Culture
Today’s agent doesn’t want to be tied to a cubicle or be forced to communicate with colleagues and clients via landlines. Because agents and clients are always on the go, they demand a flexible work environment that’s adaptable to their own mobile-centric habits and a team-focused, connected culture. These two things are very closely related. In fact, many of the broker-owners I’ve worked with over my 15+ years in real estate have transformed their office spaces into less “traditional” workspaces that encourage more transparency and productivity amongst all agents, as well as face-to-face communication – even when they’re on the go.
Better Homes and Gardens Real Estate Rand Realty in White Plains, N.Y., is a prime example of this. In late 2013, they unveiled an ultramodern office in White Plains, with an open floor plan that accommodates the flexible schedules and needs of their 100+ agents. The office has the latest in telecom, TV displays, and charging stations for phones, tablets and computers all while focusing on being green and having a contemporary feel. It’s not uncommon to see agents gathering in the office’s Central Cafe for training sessions or hanging out in coffee house-inspired workspaces with their clients for a more relaxed, but still intimate, meeting. When the weather is nice, you’ll find teams meeting outside in seating areas and open-air workspaces.
The culture at Rand Realty is in line with how real estate agents and homebuyers expect to work together today. Seeing how mobile technology advanced the real estate industry so much in the last decade, Rand changed the way they did business and made a significant capital investment in the future of their office. By doing so, they’ve improved the overall experience for their agents and clients.
That shows in overall organizational performance. BHG Rand Realty operates 26 offices throughout Westchester County, the Greater Hudson Valley and Northern New Jersey and was recently ranked the 88th largest real estate firm in the United States.
Empowering Each Breed of Agent with the Best Tools
We’ve heard it many times that new tools can enhance your physical work environment to provide better ways of collaborating and improve efficiency. These tools can also be business differentiators. The challenge is moving past just the potential and enabling agents to incorporate these tools into their day-to-day work to unlock the real business value.
The most successful broker-owners I know emphasize blending technology into existing culture and company processes. They not only offer best-in-breed tools, but have thought deeply about how they fit a long-term strategy. Brokers must train and educate their agents on the latest tools before letting them loose. As Bill Gates once said, “Technology is just a tool.” In successfully getting people to work together and to motivate them, the teacher is the most important factor.
Whether it’s using the dotloop mobile app for clients who are constantly on the move and PocketPoll for immediate agent feedback or Ink Cards for personalized photo cards and Skype or Google Hangouts for video conferencing, executing a successful roll-out of any new technology is not a one-time thing. It’s an ongoing process of education, training, support and follow-up. Since agents have varying degrees of tech-proficiency, brokers must create training programs that aren’t “one size fits all” but rather a curriculum that caters to the needs of each agent.
It’s essential that your entire staff be trained on systems employed throughout the company—not only to maintain seamless communication and cohesive teams across branches, but also because the brand’s tech-savviness can be a differentiator. It can also give agents an advantage against others in their community. Consider employing an in-house champion of your technology offerings.
Keeping Your Own House in Order to Make Better Business Decisions
In addition to implementing client-facing technology, the fastest-growing companies are using back-end technology tools to gain better visibility into their organization in order to make better business decisions in real-time. The shift toward “big data—created with the adoption of cloud-based tools like dotloop-DASHBOARD—has generated volumes of information about individual agent performance, pipeline volume and transaction efficiency. Modern brokerages are seeking out solutions to help them interpret this data in order to predict revenue, determine hiring plans, and overall, make better business decisions.
Instead of chasing down the multiple deals agents are working on, these newer solutions are empowering brokers. They now have complete insight into all deals occurring within their organization, employee productivity numbers and knowledge into where each deal stands in real-time. They’re able to put these duties on ‘autopilot’ and spend more time on what’s truly important – building a sustainable business where happy agents serve their clients.
Now, You’re Ready for Business
To build a better brokerage, and a stronger industry, it comes down to doing it from the inside out. If broker-owners can collectively focus on empowering their agents by creating open, dynamic work environments, client experiences and encouraging adoption of new technologies, plus seeking out new technology to make sense of data volumes and make better business decisions, we will be on the path to success. It’s a massive challenge, but it’s also a massive opportunity.