The Hole in Your Brokerage Recruiting Strategy

By Jessie Trapp, Marketing Coordinator 

October 18, 2019

 

The Hole in Your Brokerage Recruiting StrategyWe all want to like the people we work with. We want to make sure they’ll show up on time, fit in nicely with the culture, and include deodorant as a staple in their daily routine. But here’s the thing – recruiting solely based on likability and surface-level metrics while putting the data-driven side of things on the back burner won’t take your business to new heights, especially when it comes to the ultra-unique industry we call real estate. You need specific, tailored data – a piece of this industry’s recruiting puzzle that often gets misplaced or overlooked.

Here are a few tips for connecting the dots between knowing that you need to bring on new agents in order to reach your lofty goals, and using data to successfully recruit the right prospective agents to your brokerage. Use these tips to tailor your brokerage recruiting strategy:

Use real estate-specific recruiting technology.

Recruiting in real estate isn’t as simple as browsing through the endless names and grey faces on LinkedIn and sliding into a few prospects’ DMs. In fact, a survey by Capterra Talent Management states that only 36% of candidates are active on LinkedIn, meaning that using LinkedIn to recruit could actually limit your ability you find the right agents. This makes it that much more important that you use an industry-specific system that not only knows where top-producing agents can be found, but also what metrics should be used to gauge whether or not they’re a good fit for your unique brokerage.

Using real estate specific recruiting technology gives recruiters the ability to be more efficient and targeted in their recruiting efforts. It cuts straight to the chase, evaluating only the types of data that matters the most to your brokerage throughout the recruiting process.

Actually use a brokerage recruiting strategy.

It’s not enough to simply have real estate technology in your tech stack. In order to reap the benefits of this technology it must be deeply implemented into your brokerage’s recruiting systems and workflow. The managers using it must understand the expectations associated with it, and receive the training required to use it correctly.

Set your goals.

Each and every one of your recruiting goals should map to your business and revenue goals, period. That means that every agent you bring on board at your brokerage should be a step – no, a leap – towards reaching those goals.

In order for your technology to assist you in reaching your goals, you have to set them in the first place. Be sure to input the specific revenue goals your brokerage has set for itself into your recruiting system before doing anything else. This will ensure accuracy and make sure that you’re able to leverage its features to their full potential.

Use data to identify top producers.

Now that you’ve imputed your goals, it’s time to use data to find the agents you need to reach them. Use the sales data provided by your real estate recruiting tech to evaluate how agents are trending. You’re looking to grow your brokerage, and it’s important to recruit agents who hold that same hunger for growth and success, too.

Use a recruiting flow.

Once you discover the candidates you should be recruiting in order to reach your goals, drop them into a data-backed recruiting flow. Competition for top-producing agents is hot and having these insights into how you should take action can be the determining factor in being able to successfully get them on your team.

This flow should include things like:

  • Prioritized tasks, so you know exactly who you should be putting your effort into first.
  • Prompted actions, so you know exactly what kinds of things you should be doing.
  • Guidance on timing, so you know exactly when you should be making moves.

If your brokerage recruiting strategy and efforts aren’t taking you where you want to go, make sure you’ve checked these boxes off your list of to-dos. The more you leverage real estate recruiting technology, the more seamless and effective your recruiting process will be, and the harder it will become to picture life without it.

Posted on October 18, 2019 at 8:57 am
Tiana Baur | Category: Recruiting & Retention | Tagged ,

Grow Market Share by Turning Your Recruiting Process Upside Down

By Maddie Jostol-Heye, Senior Marketing Manager 

 

recruiting process

We could talk in circles for days about the recruiting process in the real estate world. What real estate agents want, what differentiates your brokerage from your competition, and what will prompt agents to make a move. All of these things are vitally important, but only effective when approached intentionally and handled with care. How do you win in a world where everyone is desperately trying to out-recruit each other in order to grab market share before the brokerage next door does?

What’s not working in your recruiting process.

It’s hectic out there. Everyone is attempting to talk to the most agents, get as many as possible to sign on with their brokerage, and push them to sell a maximum number of homes. At its root, this strategy isn’t bad; it’s the implementation that’s the problem. Well-intentioned businesses are blanketing the marketplace with their value prop in hopes of catching the attention of the masses. With market share pressure, there’s a tendency to go for quantity over quality.

Turning your strategy on its head.

There is no magic bullet, but instead, there needs to be a shift in mindset. Rather than taking such a wide-spread approach, try more targeted recruiting process. What if you targeted agents t

hat are productive, a great culture fit, and looking for exactly what your brokerage has to offer? You’ll find those agents to bring a lot more value than attracting twice as many that aren’t a good fit culturally, leave after a year, or don’t agree with your recommended practices.

According to WAV Group, it costs between $5,000-10,000 to recruit an agent. That’s right, just because real estate agents are independent contractors, doesn’t mean turnover isn’t expensive. Not to mention the added value that strong office culture, agent referrals, investment in coaching and training, and positive brand perception that retention brings. It’s in the best interest of your bottom line to recruit agents who will be happy and successful at your brokerage so that they’ll be valuable contributors and stick with you for the foreseeable future.

Leverage data to identify top recruits.

The first step is identifying who to recruit. Sure, there are certain professions that are great to recruit new agents from, and there might be competing brokerages in your market that you tend to get agents from, but those are still fairly general parameters. We’re talking about identifying exactly which individuals you should be actively recruiting.

Here’s what’s missing: the data.

Let the data take the guesswork out of it, enable you to more closely target your efforts, and to be more intentional in how you attract those top recruits. Data such as historical sales trends will help your managers and recruiters assess who is a good fit and base action and effort on that data. Identify the best recruits for your unique business, assess them based on sales data, cultural fit, and goals, and bring onboard those who are going to find success at your brokerage.

Establishing a recruiting process that directly impacts your bottom line.

real estate recruiting process

Once you identify the best recruits for your brokerage, how will you win them over? The reality is, everyone is trying to recruit the same agents. So, what’s your competitive advantage? How will you cut through the noise? Build a consistent and repeatable hiring process that guides your managers to success.

Build a process that automates, or prompts actions based on stage in the recruiting cycle in order to deliver relevant content at the right time to the right individuals. Think about the combination of recruiting drip campaigns, in-person meetings, recruiting presentations, handwritten notes, and other touchpoints that it takes to get the right people to join your brokerage. Leverage technology to manage this process for you. Utilizing the right tools and establishing a process will help your managers know what steps to take when, prompt them when it’s time to follow up, serve up suggested content, and much more. Establish the process at the brokerage level, enabling each manager to make it their own, while still ensuring a consistent experience and, more importantly, results.

Finally, your recruiting strategy should not only be data-driven in identifying recruits, but also in tracking success. Recruiting efforts should map directly to revenue goals. At the end of the day, you want to grow your brokerage business, so your recruiting efforts need to directly contribute to your progress toward those growth goals. Start with your specific growth and revenue goals and track progress toward those goals, using sales projections for each new recruit to report on your recruiting success. (A good real estate recruiting system, such as MoxiTalent, should do this for you).

Time to rethink your plan for grabbing up market share by turning your recruiting process and strategy upside down and winning over the right agents, at the right time, in order to boost your brokerage’s growth.

Posted on September 4, 2019 at 7:00 am
Tiana Baur | Category: Recruiting & Retention | Tagged , , ,

Recruit and Retain Real Estate Agents with More Than Just Cash

By Maddie Jostol, Senior Marketing Manager

 

Recruit and Retain Real Estate Agents with More Than Just CashThe market is competitive. No, not just the housing market, but the job market for real estate agents as well. More than ever, agents are being sought out and recruited by brokerages trying to swoop up market share and some are even going to greater lengths as offering massive signing bonuses to lure agents to make the leap. It’s a market where winning over agents, and then keeping them around, is becoming increasingly difficult. In fact, NAR estimates that the median tenure for REALTORS at their current brokerage is just four years. While some brokerages are using massive dollar figures to catch agents’ attention, there are things beyond cash that can win agents over time and time again.

Many agents join the real estate game in search of autonomy and flexibility. It’s a profession where you get to be your own boss, you’re able to set your own schedule and enjoy flexibility, and if you’re good and the market is right, the earning potential can be sky-high. Your recruiting and retention efforts should reflect your support of and investment in their business. Outside of financial compensation, consider what you’re doing to offer professional development opportunities, marketing support, easy-to-use technology, healthcare, mentoring programs, and beyond. Here, we touch on a few things you should be doing to recruit and retain real estate agents, without having to writing six-figure checks.

First, offer the support and training they want and need.
Agents are commonly attracted to the idea that life in the real estate profession means every day is different and you never stop learning. Education and development opportunities are highly valued and can go a long way as a value-add from your brokerage. Have a sales methodology to help guide your agents and put in place the training to back it up. This education is particularly important for new agents. If the support is there, new agents could be a secret weapon for your brokerage. Back up a proven sales methodology with training, tools, and resources so that your agents see sales results they know they won’t find elsewhere.

Next, get a truly valuable infrastructure in place.
Of course, a big piece of this conversation is technology. Probably not in the way you think, though. We aren’t going to say one tech tool will fix all of your retention woes because, well, offering a few one-off tools that don’t integrate with each other won’t necessarily make them stick around as they could easily replicate that on their own. However, turning that strategy on its head has some merit. Rather than a bunch of shiny tools, make sure you have a unified system that clearly improves your agents’ end-to-end workflow. The goal should always be helping them run a successful business. Not to have the trendiest thing or the shiniest thing, but to have a system of things that truly work. The idea of running your own business sounds glamorous and attracts many hopefuls to real estate – and don’t get us wrong, there are a lot of perks that come with that – but the reality can be tough.

When vetting technology tools to offer to your agents, consider how they fit into your agents’ workflow from a holistic standpoint. How do they integrate with other tools to ensure duplicate data entry isn’t required? Or so they have one, unified task list? Or to keep client records in one, consolidated place? Or to share property data across systems? Win agents over by assembling a tech stack that will make their lives easier through a simplified workflow of integrated systems that are proven to make them more successful. Those who are tempted by a big payday will also be confident staying put if they have a fruitful business running like a well-oiled machine.

Lastly, recruit and retain real estate agents with get a recruiting system that works.
At the root of it all, have a system in place to manage and drive your recruiting and retention efforts. A CRM-like real estate recruiting system will help your managers and recruiters identify who to recruit, guide them through the necessary steps to get that person on board, and ultimately, crush those recruiting goals. This methodical approach will help ensure you aren’t just recruiting productive agents, but that they’re a good culture fit as well. You want your agents to absolutely love working for your company because when they do, they’ll be more productive, they’ll emanate that passion when out in the community, and they’re more likely to stick with your brokerage in the long-run.

Because agents are independent contractors, it can be tough to win their loyalty. Plus, we’d all be lying if we said a massive signing bonus wouldn’t be enticing. Make sure the technology you select, the training programs you put in place, and the perks you offer roll up into a brokerage that agents will stick around for. Paint a bigger picture for them and show that your value proposition is focused on long-term success rather than a one-time check.

Posted on June 18, 2019 at 8:08 am
Tiana Baur | Category: Recruiting & Retention | Tagged , , ,

How Real Estate Brokerages Can Tackle Digital Marketing

By Maddie Jostol, Senior Marketing Manager

real estate digital marketingWe all know real estate agents should be advertising online. It’s key to building brand awareness, generating leads, promoting their listings, and gaining recognition as a top agent. As a brokerage, you also want to continually market your business in a way that will reach the masses and position you as the leader in your market. But, when it comes to digital marketing for your real estate brokerage, there is a lot to consider and the options are overwhelmingly endless. Not to mention, it can be a huge time suck for your team if you don’t utilize the right tools and strategies.

Here’s the run-down on how brokerages can tackle digital marketing, what to look for in digital advertising tools, how to support you agents’ marketing efforts, and why automated listing ads should be on any leading brokerage’s radar (yes, we’re talking about set-it-and-forget-it programs that automatically promote your brokerage’s listings).

Digital advertising is an opportunity for businesses to meet consumers where they already are – online. It’s estimated that 94 percent of millennials and 84 percent of baby boomers go online to search for a new home (Forbes), proving that your online presence means everything in today’s hot market. People are becoming more and more influenced by what they see online, and it’s imperative that your brand has an attention-grabbing presence.

Social media platforms such as Facebook and Instagram, as well as the audience networks that publish ads to hundreds of top sites enable you to get your brand in front of a massive audience. Marketing on social media also offers a unique opportunity to create a dialogue as people can engage with your ads, share with their friends, and comment about their great experience with your agents, all stretching your marketing dollars further.

So, where should you start when assessing how to tackle real estate digital marketing?

Step one is to get technology in place that will support and automate your efforts. You need to keep your brokerage brand relevant, even if you don’t have a huge marketing team to do so. Technology is your friend, and automation is key, so find a real estate digital marketing system that your agents can leverage, but that also supports your brokerages’ marketing strategy.

Here are a few things to look for in real estate digital advertising tools:

  • No (or low) minimums
  • High ROI on ad spend
  • Automated reporting
  • Simple, easy-to-use interface
  • Integrated with your other systems

How do you support your agents with their real estate digital marketing efforts?

Your brokerage brand is at the heart of your value proposition. It’s why agents want to partner with you and why consumers want to work with your agents. Every time your agents market their business, they’re marketing your brokerage brand along with it. What would happen if you amplified that?

Co-marketing between brokerage and agents is a win-win strategy where agents receive valuable support from their brokerage, while the brokerage grows their brand and augments it’s recruiting and lead generation efforts. Imagine this: every time one of your agents promotes their listing, you pick up the tab for 25% of it. Their marketing dollars go further, your brand gets in front of more eyes, and their loyalty runs even deeper. Co-marketing is a leading strategy for brokerages that are focused on revenue growth and agent retention.

First, find the budget. Whether you have a healthy marketing budget that allows for digital marketing, or you need to shift funds around, consider how you can revamp your marketing strategy and budget to stay competitive in today’s market. A great place to start is by moving the bulk of your marketing funds from print to digital. Not only is digital advertising simpler, it’s easier to target and you’ll have better analytics to assess ROI.

To take things a step further, look for complete automation. That is, every time your brokerage wins a listing, it gets promoted online without anyone on your team having to valuable spend time managing it all. If you’re a MoxiWorks customer, this dream will become a reality in the near future (*wink wink*).

Keep in mind, getting eyes on your brand and leads in the door is only the beginning. You then need to be able to back it up with a great brokerage website, effective lead nurture and routing process, and a seamless sales flow. Get on board with digital advertising that integrates with your technology stack, eases pain for your agents, leverages marketing dollars wisely, and helps you achieve your business goals.

Posted on May 8, 2019 at 9:21 am
Tiana Baur | Category: Recruiting & Retention | Tagged ,

The Top Three Things Agents Look for in Their Next Brokerage

By Maddie Jostol, Senior Marketing Manager

 

MoxiWorks

Recruiting real estate agents is a hot topic right now, yet many brokerages don’t have a plan in place for how they will actually reach recruiting goals and grow their business. How can you recruit the right agents for your brokerage who will find success and stick around? Rather than recruiting the masses, focus on recruiting the right agents for your brokerage so that you don’t feel the pain of poor retention. Attract those who are the right fit, so you can foster success and meet their needs and expectations.

When it comes to recruiting real estate agents, here are three things they are looking for in their next brokerage that you should focus on:

1. A competitive value proposition

Your brokerage brand is core to your value as a company. It’s what makes you unique, reputable, and leading. Your brokerage’s unique value proposition will compel agents to join your brokerage over another one.

You may be touting your years of expertise as a brokerage, but you need to take it further than that. You need to show why that expertise matters to prospective agents, how you’re going to enable them to leverage the reputation you’ve built, and where you’re going to take it in the future. Your value proposition must be unique and tailored to the type of agent that fits at your brokerage, with systems and support to back it up.

2. Coaching & support

This one may seem like a no-brainer, but it extends further than you may think. Agents are looking for coaching and support in a number of capacities, and it’s a vital piece to them loving everyday life at your brokerage.

Does your brokerage use a proven sales methodology? Do you offer training and ongoing support for agents to adopt it? Do you have technology to support that methodology? Having a chosen methodology for sales success shows your commitment to the fruitfulness and longevity of your agents’ businesses.

Remember, training is not a one-time event, but an ongoing effort. Think about how you support your agents, whether it be through content, technology, best-in-class tools, sales training, or other programs, and promote those things – agents are looking for them.

3. Technology that supports their business

Even if your brokerage is known for its long history of outstanding service, you need the show agents how you’ll help make them successful today. You need the tools and systems to back it up. This means not just showing that you have the latest shiny thing, but that you offer tools that truly save them time, keep them organized, automate the mundane tasks, and make their lives easier.

Agents want to know that you truly care about their business and their success. When they’re looking at switching brokerages, they’re often looking for a place that will provide the infrastructure behind their business so they can do what they do best – build relationships and sell homes. Show that you’re invested in them and their career through a well-selected technology stack.

So, what’s your strategy for recruiting real estate agents? No, not your hopes and dreams, but your strategy. It’s a competitive market with a lot of noise, and you need to put your best foot forward and show that you’re exactly what those agents are looking for. Real estate recruiting is gaining a lot of airtime, and all too often, it results in little action. Get your recruiting strategy in place, get a system to facilitate it, and grow your brokerage in a way that’s sustainable.

Posted on March 4, 2019 at 5:15 pm
Tiana Baur | Category: Recruiting & Retention | Tagged , ,

Healthy Work Culture: A Must-Have for Today’s Brokerages

By Sophia Stilwell, Customer Support Specialist at MoxiWorks

MoxiWorksBrokerage culture: it’s a phrase we all hear but do we really know what it is or how to create the best brokerage culture around? In order to cultivate the best brokerage culture possible, we need to know what it is and how to create it because great culture is what agents are looking for when hunting for that perfect fit. Without a great brokerage culture, agents have little reason to stick around and stay loyal to their brokerages. After all, who wants to work somewhere they don’t feel appreciated by?

What is brokerage culture?

If you look it up, you will probably read some article telling you how it’s the environment at a certain brokerage, but really, it’s much more than that! Brokerage culture is the personality of all those who work there! It’s the bloodline that ties the brokerage to its agents and it’s what keeps top agents who have so many other recruiting offers to choose from where they are. It’s your motto, your ethics, and your values.

How do you create the strongest brokerage culture?

Brokerage culture starts with the owner, someone who had a dream and made it happen. Think of them as the head of a family. Of course, to be a parent, you need kids, or in our case agents, who the parents help to be better and accomplish their goals. Brokerage owners hire agents to help them grow their family and as they do, they grow and cultivate that unique brokerage culture. This is why it’s so important to not only have a strong brokerage culture to begin with – good values, strong goals, and supportive and respectful work environment – but to also make sure that the agents being brought in are just as driven to uphold and improve that culture.

Getting to know an agent in an interview is a great way to learn if they will be a good fit for the brokerage culture you are trying to attain. Asking questions such as, “What are you looking for in your next job?” and “How do you motivate yourself to be successful?” and “What are your goals in your career?” can all be a great way to learn if the candidate is a good fit for your brokerage.

Finding the perfect agents is a great first step in achieving world-class brokerage culture, but you can’t stop there, after all, a parent’s job isn’t done when they take the baby home from the hospital. Introducing your agents to a strong brokerage culture right away is a key to letting them know they made the right choice! Little things like giving out New Agent Starter Packs helps get agents excited about their new brokerage. These Starter Packs can include all the helpful things like Wi-Fi and MoxiWorks passwords, brokerage swag, and anything else you would like to include to help them get started on the right foot!

Employing your brokerage culture and helping it to grow is a full-time job. You have to work at it to ensure you have the best in town and going that extra step can make all the difference. Now that you have hand-picked the perfect agents, you’ll want to make sure that you and they are upholding the culture you have worked to achieve. Things like brokerage manifestos, measuring employee engagement, or even having a moment of silence for your competitors who your agent beat for a listing can make a big difference in the eyes of agents and give them more incentive to stay and help your brokerage grow.

Find out more tips for recruiting and retention at your brokerage here

Posted on February 26, 2019 at 4:58 pm
Tiana Baur | Category: Recruiting & Retention | Tagged ,

Taking Your Brokerage Tech Stack to the Next Level in 2019

By Jessie Trapp, Marketing Coordinator 

brokerage tech stack header imageThe Times Square ball is still several weeks away from dropping, yet the year 2019 is already stacking up to be a massive one for the world of real estate. So, if you’ve been looking for a sign to up your technology game, consider this the bright flashing florescent sign that can’t be missed.

Curating an effective tech stack for your brokerage is a never-ending process that requires constant evaluation. Considering all of the massive shifts happening within our industry, it’s time to take a look at your current tech lineup and determine what changes need to be made in order to take things to the next level.

Here are a few key must-haves for your tech stack checklist to ensure that you remain on top throughout the coming year:

1. Open platform

At this point in the evolution of real estate tech, not having an open platform is like not being on Facebook – it does a lot more harm than good.

A few reasons why you absolutely need an open platform:

  • It enables you to create a custom tech stack that fits the unique needs of your brokerage.
  • It provides your agents with an end-to-end workflow solution.
  • It gives you the ability to choose new integrations down the road, so you can always adapt to market changes.
  • It allows you to integrate new tools at any time, meaning as your brokerage grows, so can your tech stack.

These are only a few of the many reasons why open platforms are the key to thriving and remaining competitive throughout changing markets and competitive landscapes.

2. Connected

If you already have an open platform (you rock), make sure that you’re leveraging it in every way possible. Again, one of the major advantages of this format is the ability it gives you to stretch your data throughout every aspect of your business, which is why it’s important that you have every single tool plugged into, and benefiting from, the database that can be.

This means that your agent’s CRM should be able to share data with their marketing programs, CMA tools, advertising programs, websites, and so on. The more of your tech that is integrated into your open platform, the more productive and efficient your agents will be.

The key here is connectivity, as the benefits that it brings to your agents’ workflows, and lives in general, are priceless. The single-sign-on tech will help them see value in staying with your team long-term, giving you yet another helpful tool for recruiting and retaining agents.

3. Innovative tools

Although sticking with your existing technology simply because it’s what you’ve always used may not necessarily feel like settling, failing to explore all of your options can have significant financial consequences. It’s important to always consider the latest and greatest tools out there.

Does your tech provider have any new releases coming out this year? If so, reach out to them and get the scoop on how the new tools and features can boost your business. Then, after you get the low-down, evaluate how your current programs are working for you and determine if adding the new tools to your tech stack would be beneficial for your brokerage.

If you aren’t happy with your tools, now is the time to switch to ones that will bring results and help you crush the massive goals you’re setting for yourself. Stay in a competitive mindset and never settle for “content” – it will take you far.

4. Recruiting tools

You want the best agents, but the old school methods of recruiting just won’t do the trick anymore. New threats are entering the market and being ahead of the game with your recruiting efforts is more important than ever, so be sure to have the right tricks (and tools) up your sleeves.

A truly innovative tech stack includes programs that go beyond just the daily workflow tasks of your recruiters and managers, and actually supports them in finding the best agents and winning them over.

If you don’t already have a recruiting tool in your technology stack, consider adding one as soon as possible to up your chances of crossing the t’s and dotting the i’s with the top producing agents out there.

The shiny penny.

These days, there’s a basic level of technology that a brokerage must offer to even have a shot at remaining competitive. That’s why the key to catching the eyes of prospects is going beyond the basics and offering something that no one else has – the shiny penny if you will.

Agents are looking to you for support, so look for tools that allow you to bring value that your competition isn’t. Our new brokerage subsidization tool within MoxiMarketing is a great example of this, as it serves as a unique offering that will make you look good in the eyes of your agents, and that will make everyone more money. Who wouldn’t love the sound of that?

Your tech stack is just that – it’s yours. It should include all the bells and whistles that your brokerage needs to succeed, plus all the ability to add the tools you’ll need to thrive in the future.

Interested in learning more about what the MoxiCloud open platform has to offer? Learn more here, or contact our team for a consultation.

Posted on December 5, 2018 at 4:26 pm
Tiana Baur | Category: Recruiting & Retention | Tagged ,

How Subsidizing Agent Ads Will Boost Your Brokerage Biz

By Maddie Jostol, Senior Marketing Manager

Subsidizing Agent Ads header imageWhen you think about how you’re going to grow your brokerage business in 2019, what are your key initiatives? Recruiting new agents? Gaining more market share? Making your existing agents more productive? Whatever it is, it comes back to building your brokerages’ value. It’s all about your brand. Why would someone work with your brokerage over another one? Why would they choose an agent because they’re associated with your brand?

As you plan for growth in 2019, consider how you are going to expand your reach in new ways, gaining further brand recognition and driving growth. Your marketing tactics must be strategic, but still manageable and sustainable.

Online advertising makes up for the vast majority of ad spend in the real estate industry, and it’s increasing every year (Statista). There’s a reason for it, but it can also be expensive and difficult to manage. What if you and your agents were able to work together to share cost and amplify the effectiveness of your digital ads? You have the ability to do that today. Consider subsidizing digital marketing costs for your agents. It’s like jump-starting their marketing efforts, ensuring their listing gains interest and your brand gets noticed.

You’re probably familiar with MoxiWorks’ marketing tool that enables agents to promote their business or their listings online quickly and easily from within their Moxi account. Well, now your brokerage has the option to fuel this for agents by subsidizing some of that ad spend.

Here’s what happens when you subsidize ads:

  • You directly support your agents, which won’t go unnoticed.
  • You encourage your agents to leverage digital marketing and remain competitive.
  • You promote listings under your brand, gaining significant exposure.
  • Your agents are more likely to continue promoting the listing, getting even more eyes on your brokerage’s brand.

Overwhelmed? Don’t be. It’s shockingly simple for the brokerage and requires almost no time or effort from your team. The brokerage-level settings are simple and easy to set. Your designated staff member can simply set your subsidization parameters and forget about it. Then, when it comes time to make changes, simply go in and adjust your parameters at any time.

Here are a few ideas for how you could get started:

Promote a certain percentage of all listings.

For example, pick up the tab for the first 20% spend of all listing ads. Every time one of your agents opts to promote their new listing, you cover 20% of the ad spend and they cover the other 80%. This will gain the broadest exposure and show that your brokerage is doing high volume in your market.

Promote a larger percentage, but only for luxury listings.

Subsidize ads based on the ad spend. For example, subsidize 25% of all ads with a $99 ad spend. This will encourage agents to get serious about their marketing and get more eyes on their listing as well as your brokerage brand.

Whatever it is you decide to do, make sure it supports your marketing strategy and business goals for 2019. Tailor your ad subsidization parameters to fit your brokerage’s objectives and budget and adjust accordingly as needed. Now is the time to decide how you’ll better support your agents, and ultimately, your business growth, in the new year.

Learn more about how your brokerage could subsidize agent ads here.

Posted on November 28, 2018 at 5:43 pm
Tiana Baur | Category: Recruiting & Retention | Tagged ,

Why It’s so Important for Brokerages to Support Agent Listings

By Jessie Trapp, Marketing Coordinator 

support agent listingsAs a leader at a real estate brokerage, you consider your brand to be your bread and butter. It’s what gives you the power to successfully recruit and retain the agents you need, and establish the killer reputation required to thrive within this bustling industry.

Creating a powerful brand that makes agents want to work for you, and clients want to work with you, requires that you both give your agents what they need to succeed and market your brand in ways that can’t be overlooked.

There’s already a lot on your plate, so the more of this you can accomplish with the least amount of maintenance, the better.

Hint: We have you covered.

Competition for top producers is hot. Brokerages are pulling out all the stops, leveraging every trick in the book to build a powerful team of agents that has what it takes to survive any market condition that might come their way.

The point? Support agent listings.

You, too, need to be smart about how you’re bringing valuable support to your agents, including investing in paid advertising. And luckily, thanks to the feedback and requests from our clients, you now have the perfect tool to enable you to do just that – sitting, just waiting to be used – right inside of your MoxiMarketing suite.

It’s simple, doesn’t require heavy lifting from your brokerage team, boosts your brand recognition big-time, and results in a major win-win for both you and your agents.

How it works.

The latest update to MoxiMarketing gives brokerages the ability to sponsor agents’ ads, boosting the initial number of eyes on their listings and your brand, without the agents having to spend any of their own cash. It will jump-start their marketing efforts. And then, when that ad times out, the agent has the option to pay to continue the promotion if they so choose.

Why it’s important.

The level of support you offer your rock star agents plays a huge part in your ability to keep them on your team. Although the topic of recruiting new agents is a massive one among brokerages in today’s market, retention plays an equally important (if not more important) role in leading your brokerage to success.

Using this feature to take on the initial cost associated with advertising listings will benefit your brokerage in a variety of ways, including:

  1. Taking on the initial cost will encourage your agents to continue marketing that listing, increasing the engagement they have with the tools you provide them with.
  2. It will make your agents feel as though you’re a team, and that you support their success and have their backs when it comes to winning listings and remaining competitive.
  3.  You will build brand recognition by encouraging the promotion of all listings associated with your brokerage.

Click here for more information on how to start boosting your agents’ ads (and your personal brand) today!

Posted on November 19, 2018 at 4:53 pm
Tiana Baur | Category: Recruiting & Retention | Tagged , ,

Why Successful Brokerages Must Embrace Change

By Maddie Jostol, Senior Marketing Manager

real estate industry changesDon’t get too comfortable. That’s right, if you want to be a winner in today’s real estate game, you have to start embracing change. We hear a lot about change, especially when it comes to technology. The rapid pace at which technology is developing is forcing businesses in all industries to adapt to new competition and changing consumer expectations. Rightfully so, many business leaders in our industry are resistant to change, hesitating to evolve their business into its next phase. However, getting stuck in your ways will only cause your business to be stagnant in a market full of growth.

Change is inevitable. In today’s world, you have to embrace change in order to stay ahead of the game. Competition is only getting hotter, and I think we’ll continue to find that those resistant to any change will fall behind.

Change is hard. Rather than running from it, leverage it and use it to your benefit. Use change as an opportunity for improvement. Gain a competitive advantage, improve efficiency, and expand your business.

A new generation

A generational shift is happening, affecting your brokerage from multiple angles.

First there’s a shift happening in brokerages across the US. For example, in 2015, the average Realtor was 57, now it’s 54 (NAR). Younger professionals are entering the real estate industry, both as agents and in brokerage leadership. Many brokerages are family-owned and are seeing their business passed down through the generations. Across the industry, as many Baby Boomers retire, space and opportunities open for younger leaders to take brokerages into the next phase in their evolution. This generational shift comes with a shift in leadership style and business strategy, causing many brokerages to undergo change in how they operate and how they compete.

Then, there’s a change in homebuyers. Millennials and Gen Yers (37 years and younger) are now the largest generational group of buyers at 36% (NAR). Your target audience is changing, so your brokerage’s marketing and customer service strategy must account for that in order to grow your business amongst this group of homebuyers.

Changing client expectations

Technology has changed the game – it has both heightened client expectations and enabled agents to deliver a better experience. Offering outstanding attention and service is what will set you apart in a sea of agents, and as we all know, properly leveraging technology can help you to achieve this.

Consumers are accustomed to having access to information at their fingertips. This means they want accurate information with the click of a button. Real estate is no exception here. The tools you use should always be fully integrated with your data source (the MLS, for example) so that your clients have access to up-to-date, reliable information at all times.

An evolving industry

The competitive landscape is changing. New players are entering the market, new brokerage models are forming, and the presence of technology is shifting how real estate professionals operate. Like any industry, ours is evolving, and with that comes natural change. Brokerages are challenged to find a balance, where they keep up with the evolution while still staying true to the core of their business and everything it was built on. Successful brokerages will continue to find that balance, adapting as necessary – not for the sake of being trendy, but for the sake of growing their business in an ever-changing market.

Adaptability is key

So, how do you keep up? There seems to be a ‘new hot thing’ hitting the market every day, and the noise can make it difficult to navigate. Some of the tools and technologies being developed are absolutely ground-breaking, but how do you know that there won’t be something better coming down the road shortly?

This is where adaptability is key. The new systems you put in place for your brokerage should have future change in mind. In other words, select tools and services that play well with others, so you can swap things out down the road as needed. You want to change your business purposefully, ensuring that the changes you make truly impact your agents’ lives and your brokerage’s bottom line.

Embracing change is step one, enabling change is step two. Use change to your advantage, taking it on as an opportunity to take your brokerage to the next level. Then, put the right systems in place to remain competitive in today’s market and give your agents an advantage, all while preparing for more inevitable changes to come. Be one of the brokerages that thrives through the ever-changing landscape.

Posted on October 16, 2018 at 3:48 pm
Tiana Baur | Category: Recruiting & Retention | Tagged , , ,