{"id":10075,"date":"2020-01-23T15:42:52","date_gmt":"2020-01-23T15:42:52","guid":{"rendered":"https:\/\/www.openbusinesscouncil.org\/?p=10075"},"modified":"2020-02-27T09:35:50","modified_gmt":"2020-02-27T09:35:50","slug":"6-tips-for-building-a-competitive-real-estate-brokerage","status":"publish","type":"post","link":"https:\/\/www.footballthink.com\/6-tips-for-building-a-competitive-real-estate-brokerage\/","title":{"rendered":"6 Tips for Building a Competitive Real Estate Brokerage"},"content":{"rendered":"<figure id=\"attachment_10077\" aria-describedby=\"caption-attachment-10077\" style=\"width: 1000px\" class=\"wp-caption alignnone\"><img decoding=\"async\" loading=\"lazy\" class=\"wp-image-10077\" src=\"https:\/\/www.openbusinesscouncil.org\/wp-content\/uploads\/2020\/01\/real-estate-brokerage.jpg\" alt=\"6 Tips for Building a Competitive Real Estate Brokerage\" width=\"1000\" height=\"560\" srcset=\"https:\/\/www.footballthink.com\/wp-content\/uploads\/2020\/01\/real-estate-brokerage.jpg 1000w, https:\/\/www.footballthink.com\/wp-content\/uploads\/2020\/01\/real-estate-brokerage-300x168.jpg 300w, https:\/\/www.footballthink.com\/wp-content\/uploads\/2020\/01\/real-estate-brokerage-768x430.jpg 768w, https:\/\/www.footballthink.com\/wp-content\/uploads\/2020\/01\/real-estate-brokerage-270x150.jpg 270w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><figcaption id=\"caption-attachment-10077\" class=\"wp-caption-text\">6 Tips for Building a Competitive Real Estate Brokerage<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Being a real estate broker is a promising business opportunity. Building a brokerage firm, however, is not an easy feat. Especially with the intense competition, success can be uncertain. To make your business more competitive, keep on reading and learn from the tips we\u2019ll share.\u00a0<\/span><\/p>\n<ul>\n<li><b>Build the Right Team\u00a0<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">As a broker, one of the most important things to have is the right team of real estate agents to propel your business\u2019s success. When recruiting, focus on quality over quantity. It is better to have a small team of competitive and skilled individuals than a large team that lacks the knowledge and skills you will need in your business. Hire based on experience and offer attractive compensation packages to attract the best talent.\u00a0<\/span><\/p>\n<ul>\n<li><b>Delegate Tasks\u00a0<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">A successful real estate brokerage is not a one-man job. As noted above, you need a competent team of agents. Once you have the right people, <\/span><a href=\"https:\/\/www.forbes.com\/sites\/forbesrealestatecouncil\/2019\/08\/02\/11-tips-for-building-a-real-estate-brokerage-firm-from-the-ground-up\/#700beceb246d\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">building a successful real estate brokerage from the ground up<\/span><\/a><span style=\"font-weight: 400;\"> also requires delegating tasks. This will help you focus on the more important facets of the brokerage. At the same time, this is critical in empowering the members of your team.\u00a0<\/span><\/p>\n<ul>\n<li><b>Build a Marketing Plan\u00a0<\/b><\/li>\n<\/ul>\n<p><a href=\"https:\/\/blog.hubspot.com\/sales\/real-estate-business\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">A successful real estate business<\/span><\/a><span style=\"font-weight: 400;\"> requires a well-crafted marketing plan. Gather the team and ask for their insights to promote the brokerage. Find a unique approach to reach your target audience and stand out in a competitive market. Dedicate a portion of your budget for the execution of your marketing initiatives.\u00a0<\/span><\/p>\n<ul>\n<li><b>Establish an Online Presence\u00a0<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">As a part of your marketing strategy, building an online presence is also crucial for the success of your brokerage. Start by creating a user-friendly website. Use this as a tool to not only highlight the properties you are selling but to also promote your team and convince potential clients that you have agents they can trust. You should also use social media channels and create email campaigns.\u00a0<\/span><\/p>\n<ul>\n<li><b>Widen Your Network\u00a0<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Networking assumes a critical role in the success of your brokerage. It would be good to know the right people, especially ones your agents can add to your prospects. Attend trade events where you can interact with potential clients. <\/span><a href=\"https:\/\/www.entrepreneur.com\/article\/281743\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Networking in real estate<\/span><\/a><span style=\"font-weight: 400;\"> is also possible. By engaging with the local community, such as by sponsoring events. Using social media and email will also help in building your network.\u00a0<\/span><\/p>\n<ul>\n<li><b>Find the Right Legal Structure\u00a0<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The legal structure will determine the mode of ownership, liability, and taxation, among other things. You can choose from a sole proprietorship, partnership, or corporation. Find out the pros and cons of each legal structure and choose which one will work best based on your needs and resources.\u00a0<\/span><\/p>\n<p>If you have always dreamed about being a real estate broker, now is the time to make it a reality! Consider our suggestions above to make your business more competitive. Start by hiring the right people! Enroll them in <a href=\"https:\/\/www.getsmarter.com\/courses\/us\/mit-commercial-real-estate-analysis-and-investment-online-short-course\" target=\"_blank\" rel=\"noopener\">real estate courses<\/a> to improve their knowledge and skills, and your brokerage business is sure to grow.<\/p>\n<p class=\"p1\"><strong>This is an article provided by our partners network. It does not reflect the views or opinions of our editorial team and management.<\/strong><\/p>\n<p class=\"p1\"><strong>Contributed content<\/strong><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Being a real estate broker is a promising business opportunity. Building a brokerage firm, however, is not an easy feat. Especially with the intense competition, success can be uncertain. To make your business more competitive, keep on reading and learn from the tips we\u2019ll share.\u00a0 Build the Right Team\u00a0 As a broker, one of the [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":10077,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":""},"categories":[25,1],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v18.1 (Yoast SEO v19.7.2) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>6 Tips for Building a Competitive Real Estate Brokerage - OpenBusinessCouncil Directory<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.footballthink.com\/6-tips-for-building-a-competitive-real-estate-brokerage\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"6 Tips for Building a Competitive Real Estate Brokerage\" \/>\n<meta property=\"og:description\" content=\"Being a real estate broker is a promising business opportunity. Building a brokerage firm, however, is not an easy feat. Especially with the intense competition, success can be uncertain. 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