We all know what the best companies look like. These are the companies with the highest achieving teams, the most solid track record, the brightest reputation, and above all, the happiest people. It’s the place where other teams stick their collective nose against the window pane looking at the amazing party happening inside while trying to figure out how to sneak in through the service elevator.
The most outstanding real estate brokerages may vary in terms of demographic, roster, and location but, after working with thousands of broker partners across the country, we’ve noticed that they all share common practices. Here’s MoveSnap’s rundown of the 5 things all the best brokerages do:
1. They’re consistent
Patchy, unpredictable service isn’t just an awful experience; it can be the death knell of any small business. When brokerages have a revolving door of agents, wildly varying levels of professional expertise, and periods of radio silence on the market, they pass that inconsistency on to their clients. Those clients, in turn, will hightail it to another brokerage, taking incalculable missed-business opportunities along with them.
The best brokerages strive to consistently offer great service. Whether that means empowering their agents with tools like MoveSnap to guarantee their clients have their easiest move ever, or retaining the same top-producing agents year after year, most people making a major financial decision will opt for the tried, tested and true option.
2. They take care of their realtors
The same principle naturally applies to agents choosing a brokerage. Just as an outstanding agent will attract high-calibre clients, so too does an exceptional brokerage draw top realtors. And a good brokerage understands that in order for their agents to take care of their clients, they have to focus on taking care of their agents.
Agents are drawn to brokerages that offer benefits, mentorship, professional development opportunities and the best technology platforms – like MoveSnap! – to equip their agents with a full arsenal of tools to do their best work.
That’s because these brokerage brainiacs know a strong, healthy team unit is the baseline for any thriving company. Members of an organization that puts its money where its organizational mouth is are going to return that commitment in spades and please don’t get caught in the same trap I did of trying to imagine what an organizational mouth looks like because it may take you to some places you didn’t plan on visiting when you woke up this morning.
3. They’re accountable
One of my pet peeves is a company that behaves in a completely unacceptable way toward a customer, then either ignores the customer complaint or behaves in a flippant manner toward them. It’s only when the angry customer takes the issue to the media that the company scrambles to “make it right.” By that point, no one is buying it anyway and it lives on internet search forever.
The best places would NEVER. They wouldn’t even dream of it. Whether it’s a mistake on the part of an agent (it happens), a client mix-up (it definitely happens), or a completely random accident (why did this happen to meeee?), a good brokerage steps up straight away and takes accountability for fixing the situation. They don’t think twice about empathizing with the client and doing whatever they can to make long-term lemonade. Savvy broker owners know that any hit they may take in the short term will pay off in spades over the long term. Speaking of which…
4. They’ve built up their reputation over time
Real estate is a profession that trades almost exclusively in high-end transactions. After all, a home is likely the largest purchase anyone will ever make, and if it’s not and they also have a yacht and private island, then you hit the client jackpot and congratulations on putting your children through college.
For the rest, however, a realtor’s success ultimately hinges upon one precious commodity that can’t be bought or sold: Reputation. Simply put, when you’re dealing with multiple clients in a fast, competitive, high-margin space, your good name is worth its weight in gold.
A brokerage is no different. When making monumental decisions like buying a home, clients will default to a brand they’ve heard of over the one-person brokerage down the street in an abandoned loft that has a disconnected phone number and a suspiciously low commission rate.
5. They’re plugged into PropTech
A realtor used to be someone who helped clients buy and sell homes; now, it’s the blanket term for a highly skilled professional who juggles seven different careers at once. To be a realtor today is to be an exceptional service provider, a legal contract expert, a skilled marketer, a professional chauffeur, a therapist, market analyst, and technology whiz.
For every new career that gets tacked on to the realtor pile, agents have to adapt quickly. Thankfully, there are a series of new tools that can really help under the PropTech banner.
What is PropTech?
PropTech is the blanket term for the use of technology and digital innovation in the real estate space. It helps people research, buy, sell, and manage properties and is one of the leading business trends for the coming year. The best brokerages aren’t just on top of the latest PropTech, they actively invest in it.
As a leader in the PropTech space, MoveSnap has leveraged an extensive database to maneuver our technology to deliver the most comprehensive moving service available. Broker owners know that the perfect ending to a client’s new home journey doesn’t wrap up after the deal closes; the best of the best tap into PropTech to extend that journey all the way through the front door.
Does your brokerage offer MoveSnap? Set up an executive call with us today to learn how MoveSnap can help support your brokerage.