How to Build a Great Brokerage with Technology

A real estate brokerage has many of the management and marketing challenges common to most other businesses. Our inventory is our listings, and we market, advertise and sell to generate commission revenue. However, the real estate brokerage is more complex in some ways, particularly when it comes to risk and legal issues.

If we take a close look at how we actually make our money, we are expending time, using our expertise and special skills, and coordinating complex transactions. We market our services, spend a lot of advertising money, and we manage a diverse group of independent contractor agents. There's a lot going on in a busy brokerage, and all of this activity can be a lot more efficient through the use of technology resources.

Technology is of even more value in our marketing efforts. CRM, Customer Relationship Management, is much more effective when we use the right tech tools. Getting prospect leads, then moving them from prospect status to a successful closing can grow our business much faster if we understand and properly use technology and the various online and software resources available.

Open your mind to new ideas and examine every area of your business, from document management and filing through all of your marketing and advertising. Consider how you communicate with your agents, especially in today's more mobile business world. Some brokerages are even operating without a desk for every agent, as they are able to conduct business with their mobile phones, tablets and notebook computers.