Hybrid Real Estate Brokerages
As a real estate agent, you might not have heard of a hybrid real estate brokerage. So, what is one? In short, you take the dinosaur and outdated model of what was prior to the internet model of real estate with a team model. This model has a real estate brokerage brand image and set standards that the agent is willing to follow to be a part of the brokerage. They provide full-service admin and concierge services. Then they offer a team experience model with hot leads to pre-set appointments.
In short, a hybrid model helps both agents, brokers, and clients to have a clear expectation of what they will get. This allows for all parties to have a better and more efficient experience engaging with each other. In turn, building a more pleasureful experience for all involved. We have learned that humans seek pleasure and run from pain. We believe the old traditional model creates pain for most to all parties involved in it. This is why there are so many disruptors in the real estate market.
If this sounds great to you and you like the way the hybrid model sounds, then read on to learn more about the hybrid model and how they work to create a more pleasureful experience for you.
The traditional real estate model has created haves and have nots in the business. We have seen roughly seven percent of agents do 93% of the business. There are several reasons why this is happening. Some of it comes down to drive and work ethic. Just today in a coaching session, I was able to look at a client's CRM and I saw he had a database that shows limited to no follow-up. This is where work ethic can supercharge his results.
What I have also found is the lack of knowing what to do and how to do certain things in the real estate market, which then takes organically designed salespeople out of the business. This will include marketing, advertising, creativity, where to find the right leads, and scripts.
A hybrid real estate model answers many to all of the missing skillsets for real estate agents. A real estate agent can run a solo business model with high brokerage support for their admin and client experience. Another agent can choose the team experience and receive hot real estate leads, hot real estate appointments, and full admin and concierge experience. It meets the real estate agents where they are in their business.
This model is not for a real estate agent or real estate team that wants to focus on creativity and building their own brand. This model is 100% focused on the brokerage's brand in a way that a consumer sees their name knows they will get the exact consumer experience no matter who the agent is. Your marketing and advertising are heavily controlled and managed by the brokerage. It is actually a nice thing for real estate agents because it allows the agent to focus on being an agent vs a marketing and advertising company. In short, you go to the real estate marketing department and order a package that can include postcards, social media, Google PPC, etc. You get this by a department that focuses on this strictly versus on the side like a real estate agent would.
Imagine being a consumer and client of a hybrid agency where you know if you are in Phoenix Arizona and you moved from Tucson Arizona and now you are moving to Prescott Arizona that you will get the same expected services that you received with your prior moves. Hybrid brokerages are loved by people because they can refer friends and family to a brokerage, and they know they will get the same great experience because these real estate brokerages will not expect anybody harming their brand.
Hybrid real estate real estate agencies offer solutions for real estate agents who do not care about having their creativity removed from them. For most people in life, they prefer a lead to lead them versus scrambling to find their own way. With this said, if you a lone ranger real estate agent who does not like to fall into line with your real estate brokerages that you have worked with, or even prior jobs prior to real estate, then a hybrid real estate model will most likely not be a great fit for you.
Hybrid real estate agencies remove the need to think and raise your guard up when you seek real estate assistance and support and a client. Imagine going into a QT Gas Station and you did not know the layout, how a worker will interact with you, and if they stocked your favorite goods or not that day. Man, that experience would be terrible. This is why QT is such an amazing experience because they deliver the complete opposite. Their brand screams an amazing experience for their consumers.
This is why hybrid real estate models are desired over traditional brokerages. It removes the need to overly think for both real estate agents and their clients. This also helps real estate brokers enjoy their positions at these real estate brokerages.
With this said, traditional brokerages can offer more creativity and self-branding over hybrid real estate agencies. As an agent, you have to ask yourself, "what is more important to me?". Do you need more creativity and self-admin responsibility, or do you need less creativity and limited admin responsibility from hybrid brokerages?
We believe more real estate agents will choose one of these hybrid brokerages over the traditional model. In the future, we believe the hybrid brokerages will be known as the traditional brokerage model because more real estate brokerages will build out this way. The hybrid model could be by far the best model for all involved in the platform because it thinks about all parties involved.