Today, more than ever before, it’s important to maintain profitability in your brokerage while still offering your agents high levels of value and service. Sometimes it takes stepping back and looking at your business with a fresh set of eyes to gain a new perspective on how you can make your business more profitable. So, what can you do to help affect your bottom line immediately? Let’s take a look at what people from all over the country are doing...
dot Do an agent ROI – looking at which agents are making you money and which agents you are losing money on.
dot Decrease your expenses – is the pricey holiday party really necessary? Can you get the same outcome by spending less?
dot Increase revenue – are there partnerships you can establish or programs you can roll out that will bring additional monies to your bottom line?
dot Revisit your sales strategy – when market conditions change you have to change your approach. How are you approaching sales and how is that affecting how your agents are approaching sales?
dot Identify growth – Instead of you personally selling to keep the doors open can you recruit more effectively to get a better long term result? There are opportunities for growth in any market; you just need to capitalize on them.
dot Recruit – The more productive bodies you recruit, the more money you will make. It’s a simple formula but if you equate every thing you do in your brokerage to recruiting you will be successful.
dot Change your approach – Just because you’ve always done something one way does not mean that’s the only way to do it in today’s market. Examine how your sales, marketing, recruiting, retention and receivables could all be approached differently to get better results.
dot Maximize your value – Know what you have and what you provide, and then sell it. To your agents and to the consumer public. Show every single person you interact with what you and your company brings to the table.
dot Automate – Are you and your staff spending valuable time doing activities that could be easily automated? Streamlining your processes will free up your time and help you cut staff expenses. However, do your homework before you dump all your existing processes. Make sure a new program or system makes sense for you!
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