by Realty Broker Office™ Your Office is Always Ready.
|
more articles here... |
How Realty
Brokers Go from No/Low to High Profits
Is your brokerage profitable? We're not talking about just making money, we're talking about the revenue remaining after you've paid all expenses, including your agents commission. "Money makes the world go round" is a phrase we found used by a few well-seasoned professionals in the real estate industry. Knowing what to do or not do helps them to make that money. And it's not just making money, but making a profit. Our survey shows that while brokers make money, they are often not making much in terms of a profit. So we set out to find how high profit earning brokers are pulling it off. It's in the operation details. High profit brokers have a strategy to running their business, and they execute their strategy consistently. Here are the key items revealed that leads to profits. 1. Prospect Profiling - not only should you use the internet for marketing, you can also use the internet to find information that will help you land the deal. With an abundance of social networking site, you can find out things that gives your presentation a personal touch. This keeps your pipeline full. 2. Deal Matching - make sure the agent is equipped and competent to get the job done. Follow-up with the agent, ask questions and look for signs that point to potential problems. Don't be slow to suggesting the agents gets additional help. This gets the deals closed on time. 3. Active Roster - eliminate the bloated agent roster. You want agents who are actively working. While having lots of inactive agents may make you feel good, it does nothing for the bottom line. 4. Self Audit - do a self check on your business. Be clear about your expenses; everything from rent, supplies, dues, insurance, telephone and technology should be factored in. Then get clear on the revenue. How much revenue is generated on each deal; how much are you paying out; and how much are you keeping. The numbers will always be truthful, you just have to look at them. 5. Profit Results - run a profit/loss report weekly. Don't wait until the end of the month. Weekly information lets you know where you're headed and gives you a chance to identify needed corrections and adjustments. It boils down
to handling the business of your business,
including having an
effective and efficient office. next: How to Get Expired Listings' Seller to Call You Real Estate Database / Software Features: click here |
|||||
more articles here...
|
|
