Future-Proof Your Brokerage: Insights from Industry Leaders [Webinar]

November 4, 2024
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Future-Proof Your Brokerage: Insights from Industry Leaders [Webinar]

Setting your business apart in the coming year is essential. The recent Presence Panel event, “Future-Proof Your Brokerage: Tools and Strategies to Stay Competitive Through 2025,” gathered industry leaders to discuss actionable steps to achieve just that.

Hosted by Chris Linsell, Director of Content at Luxury Presence, and featuring insights from Sean Soderstrom, Co-founder and CEO of Courted, and Tripti Kasal, Senior Vice President of Member Engagement at LeadingRE, the panel offered valuable strategies for brokerages, teams, and agents.

Key Insights and Actionable Advice:

Level Up Your Brand Identity

Chris Linsell emphasized the importance of brand perception in real estate. “Your brand is not what you say it is — it’s what they say it is.” He recommended focusing on the “why” behind your work. “The strongest brands aren’t built on what you do but why you do it.” Differentiation is crucial in the crowded real estate market. Linsell warned, “If you can’t — in a couple of sentences — demonstrate why there is something that you do better than anyone else, your growth will be limited in 2025.”

Rewrite Your Brand Strategy

Linsell highlighted the need for brokerages to consider both their brand and their agents’ brands. With over 70% of real estate leads coming from referrals, building a memorable brand identity is crucial. “Brand mature” agents, who have a clear, recognizable identity, typically command 3% to 5% higher sales prices than “generic agents,” according to data from the National Association of Realtors.

Focus on Targeted Recruitment

Sean Soderstrom urged brokerages to rethink their recruitment strategies. He revealed that “twice the number of top producers moved between companies in the last year versus the year prior.” He recommended conducting a “gap analysis” to establish ideal recruitment goals and identify agents most likely to move. Instead of focusing solely on top producers, Soderstrom advised targeting agents with significant growth potential. Courted’s platform uses predictive analytics to forecast 4 out of 5 agents, before they leave their brokerage.

Use Technology to Build Relationships

Tripti Kasal emphasized the role of technology in recruiting and retention. “You absolutely cannot build those relationships without the technology behind it.” She encouraged broker-owners to pursue tech tools that allow for personalized agent communications. Technology helps recruiters identify, reach out to, and capture the attention of the right people. This aligns with LeadingRE’s philosophy of empowering local brands by being the engine behind them.

Recruit Through Brand Identity

Kasal noted that successful recruiting happens through attraction, where agents are drawn to a brand that aligns with their values. “If your target audience is everybody, your target audience is nobody.” She urged brokers to focus on who they want to attract based on a unique brand reflecting the brokerage’s mission, values, and strengths. This creates a targeted message that resonates with the right agents, building stronger relationships and loyalty.

Avoiding Pitfalls in the Coming Year

Soderstrom stressed that effective recruiting strategies must with a “focus on quality over quantity when it comes to agent recruiting.” He recommended being laser-focused on “recruiting the right agents, at the right time, with the right message.”

Linsell highlighted a critical change in the use of social media for real estate professionals. “Social media has shifted from being a communication channel to a place where clients go to see that you are who you say you are.” He encouraged brokers to use social platforms as proof of their credibility and track record, rather than pure marketing outlets.

By following these strategies, brokerages and teams can position themselves for success and stay competitive through 2025 and beyond.

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