Real estate is a numbers game and because of this, it is imperative for brokerages to have the data they need to determine where their brokerage is succeeding and in what areas they can improve. BrokerSumo offers back-end support and analytics at a brokerage level so that firms can see firsthand what is affecting their bottom line. Here are 3 reasons reporting analytics are imperative for brokerages.
Today it seems as though there is a tech tool or solution for every stage of the real estate transaction, from marketing and advertising to listing and closing. Sometimes it can feel like we are kids in a candy store, overwhelmed by so many choices that promise they will miraculously improve our business. But is there such a thing as too much tech for real estate? And what is the perfect balance of tech tools that produce the highest agent adoption and profitability for the brokerage?
It’s only been in the last few years that virtual brokerages have popped up, and they’re a hot topic within the industry. Without a physical location, virtual brokerages have significantly lower overhead costs and can scale their business with relative ease–two big reasons why they’re growing in popularity.
It’s common for brokerages to focus more on lead generation programs, CRM software, and sophisticated websites as their revenue driving solutions. There is no question powerful solutions like kvCORE are built to drive revenue. But if brokers ignore the backend, that’s a missed opportunity to carve out additional profitability and claim a competitive advantage with a modern back office.
Actually working out the commission program needed to recruit agents presents much less of a challenge than tracking these unique commission programs designed for each agent on something other than an Excel spreadsheet. Small and midsized firms need to support variety in their compensation plans in order to recruit and require an affordable solution that integrates with QuickBooks. In 2016 and 2017, entrepreneur Jeremy Shoenig developed software for exactly this purpose, called BrokerSumo.
Throughout the years, RE/MAX Advantage Plus has remained one of Minnesota’s revered and multiple award-winning real estate firms, primarily because of their commitment to cutting edge technology and redefining the real estate process.