How to Decide if a Brokerage’s Marketing & Tech is Right for You
This post originally aired as a podcast!
🎧 Listen to the show on Apple Podcasts | Spotify
Marketing and technology are essential to today's agent. Marketing empowers you to attract new customers and build stronger relationships within your network, while the right tech can save you valuable time and frustration. Together they are a powerful combination for your real estate career, and many brokerages offer marketing & tech stacks to further support their agents. Yet, how do you know if a brokerage's offerings are right for you?
Today we're having a meaningful conversation about how to evaluate your own needs to see how that aligns with what a brokerage provides.
There are many reasons to evaluate a brokerage's marketing & tech offerings.
You might be thinking about making a move to another brokerage.
Or you want to take a step back and honestly review how your current brokerage supports you.
On the other hand, you might be brand new to the business and choosing your first brokerage.
Or maybe you want to learn how better to take advantage of what your current brokerage offers.
Whatever the reason, it's a valuable exercise for any agent to consider.
Shifting Your Perspective
I think the biggest mistake people make is starting first with the marketing & tech options. It's easy to get caught up in all of the shiny features and benefits. However, I recommend you start with your goals and challenges as an agent and then go from there. The best marketing and tech empowers you to reach your defined level of success and lifestyle. Always be open to new ideas and strategies, but fundamentally, we want it to be a harmonious balance of what will help you and what the brokerage provides.
The philosophy of how to best support agents with marketing and tech is something I'm not only experienced in, but I'm also passionate about.
As many of you know, I was the Chief Marketing & Tech Officer at a large brokerage who was part of a national franchise. For almost eight years, I evaluated all the options in the industry, implemented many new platforms from website & CRM to transaction to management, audited what we provided, and every day thought, "how can we best serve our agents?" My goal was always to provide resources and support that would make a difference.
Not all marketing & tech makes a difference to every agent.
Even during my time at a brokerage that offered a wide range of options, I always told agents that it was my job to be an expert on all we offered and be there to guide them to what would make the most significant impact for their unique needs.
I recommend you take the same approach of aligning marketing & tech to your goals. This concept might mean trying something new or having further support in what already works, but you're not wasting your time on distractions and resources that aren't right for you.
So, let's get into the conversation of whether "a real estate brokerage's marketing & tech is right for you?" And the first place we're starting is with YOU!
What Are Your Goals and Business Plan?
Many agents and staff at brokerages want to dive right into implementing marketing and tech. However, these resources should allow you to accomplish your overall strategy.
I recommend you begin with a business plan that's supported by a marketing strategy, which in turn uses marketing & tech resources.
What are you trying to accomplish in your business? Do you have goals or visions for the future? We want to make sure your brokerage can support your journey in real estate.
If you don't have a plan for your business, that's another conversation about how a brokerage can support you with business planning and training (which I will don't cover in this episode). However, I do have a complete marketing plan that you can fill in to help guide you during this decision-making process. Download your free marketing plan template here.
It's essential to recognize that resources and tools are just that - a way to support us.
If you want to increase your production and sell more homes, you need the right marketing & tech stack. If you're already really busy and are looking for more efficiencies, then we evaluate the offerings differently. Likewise, if you're a rookie agent, what are the tools to help you generate leads and grow your sphere of influence?
What Are Your Challenges?
After we've established your overall vision for the future, then we move onto your specific challenges. So, instead of looking at a brokerage and saying, "they offer X CRM system and Y CMA tool," we start with what would be most beneficial to you.
So, let's say one of your challenges is generating listings. What does the brokerage offer to help you attract more sellers?
They might offer innovative programs designed to help you target sellers. Whether it's cash back at closing or alternatives to iBuyer options, find out what they offer to support their promotions. Other features might help you stand out on a listing appointment, such as customizable presentations, CMA tools, professional videography, or Matterport 3-D tours. The list is endless! Find out how what they provide can help you generate listings.
As you can see, this is a different approach than saying, "list all of the marketing and tech that you provide." Instead, you're saying, "I have this challenge, or I need help with that," and then finding out the solutions to help you in your own business.
This approach helps ensure that you're evaluating what they offer, not based on the number of options or what's trendy in the industry right now. You're making sure that your needs align with what they provide.
Come up a list of your own challenges and have a conversation with that brokerage. Start with your most significant pain points and even look for opportunities in the market. A good brokerage should be able to answer these questions or provide their own recommendations and insight. From there, you can decide what is make or break for you.
What's Their Stack, and How Can it Help You?
Now, we can move on to where most people start. What all do they provide in marketing and tech?
This list might be a mixture of technology platforms and marketing assets. Some of the most popular categories are:
Marketing collateral (such as flyers, etc)
Transaction management
CRM tools for database management & email marketing
Communication platforms
Traditional advertising (such as yard signs or print ads)
Options for agent branding
Business basics (such as email)
CMA tools & listing presentations
Listing promotion
Lead generation
Sphere and past customer follow-up
Video and tours
When you're looking at a variety of options, ask yourself and the brokerage to explain how each item can help you in your business. It's not a contest for the longest list because you can't do it all, and it might not all be applicable. Choose what will be the most impactful for you.
Do They Provide Training and Ongoing Support?
I like to say having marketing & tech is like belonging to a gym. It doesn't matter how nice the equipment is if you don't go. The same goes for your marketing & tech. Whether you consider yourself savvy or a beginner, we have to use whatever it is to see results.
If you don't know how to use something best, or it's causing you frustration, you're not going to use it. That's why training and support are essential to look at. We could all use some help now and again, whether it's learning a new platform or troubleshooting an issue.
Is it up to you to figure out the systems and implement them into your business? If that's the case, do you have the bandwidth to do so or can you hire someone who can help you?
There's no right or wrong answer here, and support might vary depending on the brokerage model. However, what matters is your expectations from the brokerage and what you would find valueable.
Are They Innovating?
Real estate is constantly evolving. How does the brokerage you're looking at keep up with the times?
While stability is crucial, so is looking towards the future. Your needs as an agent will change over time, just as the market changes and homebuyers and sellers change. Is this brokerage positioning itself to embrace or leverage opportunities?
You can ask how they've evolved over the last five years and what their plans for the future include.
What Will You Have to Do or Buy on Your Own?
Depending on the brokerage you choose, they might not offer everything you're looking for. This might be by design. For example, some brokerages don't provide much because they don't charge much. On the other hand, a more full-service brokerage might have it all. But you might love to use X tool, and they use an alternative.
Whatever the reason, make a list of what you'll need to get on your own as this will weigh into the next point.
What Are the Costs and Fees Associated?
After you have thought about what you need to be successful compared to what they offer, we cannot skip cost, both financially and your time.
There are many brokerage models, from 100% companies to different compensation models and splits to fee structures. While this episode won't cover evaluating a brokerage from the financial standpoint, it's still a crucial element to weigh out when looking at their marketing & tech.
Are you getting value for what you're paying? Will what they provide save you or cost you time? Do they not offer many systems but have excellent training and coaching?
There are pros and cons to every brokerage, and this is a business and personal decision.
While emotions and relationships play a role, take the time to crunch the numbers as well. If you need to pay for your own marketing and tech, what will that cost you? If there's no training or support, how will you accomplish implementing everything? This leads me to my last item to consider.
What is Your Gut Telling You?
Marketing and technology is just one piece of a brokerage. The financial aspects, the relationships you have with people, the type of culture at the company, and how you feel about the team all play a part of your decision.
However, don't take your gut feelings for granted. If you're excited about what they offer and see opportunity, lean into it. If you feel their passion aligns with yours, it might be a match. If you are unsure, don't be afraid to ask questions or speak to another agent already at the brokerage.
Keep your goals and interests front and center, and take time to discover how a brokerage fits into your business and life.
The Goal of Great Real Estate Marketing & Tech
The best marketing & tech stack for you is the one that's going to actually help you.
Because great marketing opens doors to new relationships. It can launch your career and empower you to hit new sales goals while. While the right tech can save you time and streamline your business. Both complement each other and are necessary for success. How you use it and what you choose is ultimately up to you.
But know - you have many choices!
UP NEXT:
It's time for seasonal marketing! Fall-themed real estate content and marketing on social media is not only trending, it also works in your Instagram Reels, posts, carousels, and more. The secret is to customize this content with photos and videos of you. So, in today's episode, let's plan an easy fall content shoot for you as a REALTOR to use in your marketing strategies this season!