It’s a well-known fact that in the age of technology, those who don’t keep up go extinct. As such, your brokerage has probably made adaptations to stay competitive as technology continues to evolve and the landscape of real estate continues to shift.
Minor concessions and playing catchup is not enough, though. If you find yourself lagging even slightly, your brokerage is only one changed regulation or one unforeseen development away from collapse. So, how can you tell if your brokerage is behind the times and about to be obsolete?
By keeping an eye out for these warning signs, of course. Read on to stop playing catchup and start being innovative!
Brick and Mortar is Your Bread and Butter
If you were to take a good, hard look at your overhead and the return on investment you see from it, would you be happy? If you are behind the times, the answer is almost assuredly “no.”
Chances are, none of your producing agents spend any of their time at the brick and mortar office. In fact, neither buyers nor sellers frequent the building. This means that you are dedicating substantial funds to overhead that is unmanageable, and worse, inefficient and unproductive.
If you find yourself in this position, you are effectively siphoning funds away from opportunities to grow. It’s time to leave the outdated model of brick and mortar behind!
Technology is a Four-Letter Word
The advent of technology is undeniably overwhelming and can be intimidating. If your brokerage does not have a modernized website or CRM for your database and agents, though, it is at risk of becoming obsolete sooner rather than later.
Providing technological tools for your agents enables them to do their jobs more effectively and efficiently. Further, lead generation websites and collaborative platforms open the door to new possibilities, empowering your agents and your brokerage as a whole to excel.
Your Most Valuable Asset
You’ve probably heard the adage about how time is your most valuable asset, and for good reason—it tends to be true. If every aspect of your business requires your attention and draws you away from dedicating yourself to other, more productive tasks, it’s nearly impossible to progress your brokerage into the modern era.
As someone aspiring to succeed both now and in the future, you need to be forward-thinking. This means focusing your time and effort on creating lasting solutions and implanting innovative practices that will work for years to come.
There Are Solutions
If you're seeking solutions and new ways to grow and expand your business by leveraging technology, let's connect and collaborate. We've been able to expand our business into 25 states and are looking for like-minded entrepreneurs to continue to grow with.