Key Benefits of Joining a Real Estate Platform for Real Estate Agents
One of the few businesses which managed to go against the tide despite last year's pandemic was the real estate business. It is one of those few professional spheres that has consistently shown growth. The data released by the US Bureau Of Labor Statistics states that in 2020 The average annual income for experienced real estate brokers was $60,370; whereas, the average yearly income for real estate sales agents with under two years of experience was $49,040.
Promising though these numbers are, one can not ignore the high level of competition in this field. In today's highly competitive market, agents are looking at the benefits of joining a real estate team or a brokerage model that acts like a real estate team. There are approximately 2 million active real estate licensees in the United States according to the data released by The Association of Real Estate License Law Officials (ARELLO). These figures would give you a fair idea about the level of competition on the ground.
Among these license holders are many agents who are just starting and veterans who have been in their careers for decades. If you are someone who is just getting a start as an agent, then have you thought about how you are going to navigate this field? Lead generation will have to be on your mind. Yes, you have your training, and you are a qualified agent, but this last year has brought massive and far-reaching changes in this field. It has led to an unprecedented shift in the way the business is carried out. In these trying times, it is not merely a choice but a necessity to adapt to the changes, to benefit from the new possibilities, and to use technology to give you that much-needed leverage over your competitors. This is why agents look to join a team environment.
You might be wondering how to go about this? The simple answer is — A real estate platform. By joining a platform, you will be able to expand your business and accrue more benefits. In this article, we shall take you through the advantages you shall get upon joining a real estate platform.
The prime benefit of being a part of a large platform is that there is a steady supply of high-quality opportunities at all times. A platform brings together the real estate agents and people looking to purchase new homes and people looking to sell their houses. These opportunities from the platform-based website must be converted at a high rate. As all the buyers and sellers on the platform are highly motivated, it automatically translates into high-quality leads for real estate agents. The time spent searching for opportunities is considerably reduced as the platform provides you with a pipeline of quality leads. This steady supply of prospects leaves real estate agents with more time to focus on the actual work of helping individuals and families buy or sell houses. The fact that the agent can concentrate more on closing the deals means that they can be more successful.
Brokerages that focus on creating opportunities for agents provide a great benefit for agents. Many agents work for a brokerage that does not provide them with high-quality opportunities. This leaves the agents stuck either trying to master lead generation or spending a lot of money for somebody else to do it while hoping it works. This why it is important as an agent that you choose the right company to partner with. An agent should look for a brokerage that functions as successful teams do.
Prevention Of Loss Of Leads:
It is not enough to find or identify opportunities. An integral aspect that many new real estate agents are unaware of is there also needs to be an active effort devoted towards preventing the leads from slipping out of your hands. Many successful teams and brokerages have models in place to help reduce this from a CRM, weekly accountability meetings, to scripts and rebuttals.
As a successful agent, you might be busy handling multiple clients at a time. However, even with the best efforts, it is virtually impossible to give timely attention to all the clients on your roster. This is where the platform comes to your assistance. The cornerstone of this kind of platform is accrual and conversion of leads. It is a vital tool for any real estate agent. You have all the necessary details and information about all your clients in one place. At a glance, it is easy to view all the relevant information along with important dates related to the clients. This kind of view ensures that you are not caught unaware by any new or last-minute requests. Each morning you can clearly see what stage each of the deals has progressed to and what further actions need to be taken. This care for details will make all your clients feel that you are attentive towards them and will definitely prevent a loss of leads.
Integration of Software Across Platforms:
A lesser-known but crucial advantage offered by a platform is the extensive and rich cross-platform integration offered in it. As a real estate agent, you have to maintain a presence across social media. You need to have profiles on various social media sites, run and maintain a blog or a site, etc. Additionally, you may have to put out marketing material to drive more business towards you. It is time-consuming to create multiple accounts of this sort. Moreover, you have to constantly monitor and make necessary corrective changes to these accounts and profiles. A platform eases your workload by providing integration of all these in one account. You will have better control over all your profiles. You can enhance profitable strategies and minimize actions not translating into business. And the best part is that all of these can be handled from a single platform.
Extensive Client Contact Management:
Most real estate platforms have a robust Customer Relationship Management (CRM) built in the platform. For instance, a highly popular and preferred platform, Dorrma,t has very extensive CRM services for its registered real estate agents. Not only is it a feature-rich CRM, but also very easy and intuitive to use.
The business is ultimately based on building relationships. A platform's role is not limited to providing you with new leads. It assists you in building, maintaining, and sustaining these relationships. There is a multitude of benefits of staying in touch with your past clients. If an old client wishes to buy or sell a home, you will be their first choice. It will provide you with an easy set of leads through referrals. But in order to manage this, you need a well-built CRM system.
You can categorize the entire roster of your clients into different categories and cross-reference these under multiple tags. You can enable auto mailers to be sent on specific dates for personal or professional reasons. For instance, holiday greetings or birthday wishes could be sent to your past clients. You can also send emails on those aspects of real estate which you believe might be of interest to them. Trying to do all this manually is not only tiring but a potential misuse of your time. Using a CRM system will help you automate these tasks easily.
Skill Enhancement Training And Support:
Even the best of the knives requires sharpening. Similarly, there is a constant need for an up-gradation of your skills and regular training required to keep you ahead of the curve as a real estate agent. This is a feature that only a few established platforms offer to their real estate agents.
Despite, the best training before a real estate agent is eligible for obtaining the license, there are still going to be times where you have hit a wall. Times where you need timely advice and guidance. This is where a professionally driven platform can be of help. You will have access to scheduled training programs, invite to real estate-focused business seminars, and the support of a team of highly experienced real estate professionals to guide you. Sparking individual growth, benefiting from the team experience, and getting strategic advice is possible through a platform. All these amenities will enhance your skill as a real estate agent. This, in turn, will translate into higher levels of success for you.
Better Information Sharing With Customers:
Customers are going to rely on you completely once they have finalized you as their real estate agent. No doubt you would walk them through all the legal, procedural, and professional requirements when it comes to selling and buying homes; however, your clients are going to need a lot more hand-holding and attention from you. A platform will enable you to leverage its powerful CRM system not only for maintaining contact with past clients but also assist in managing all necessary requirements of your active client list.
By registering on a platform, you can take advantage of the powerful technology powering it. You can share all the relevant details of the contracts. This will prevent any issue from cropping up at the time of sale/purchase completion. It also provides you with a way to set up timely reminders to send to your clients about upcoming deadlines for carrying out the transactions. Moreover, it lets you inform your clients about any federal or local alterations to the laws and regulations governing the business. Overall this system lets you be in agreement with all your clients and prevents any miscommunication or missed communication.
Generation of Analysis And Reports:
Information is the foundation of any business. What many fail to understand is that having reams of information alone is of no benefit. What is vital is a way to extract valuable and actionable data from the raw and unprocessed information. This is something that is supported by high-grade professional real estate platforms. As a real estate agent, you can derive a day-wise or a month-wise report. You can extract only the relevant information from the mountain of data gathered.
It gives you a bird's eye view, which enables you to ensure that there are no missed opportunities. It is a core requirement for effective and quick strategy formulation. You can set the parameters according to your requirements. You can filter pending tasks or cross-reference available properties under different categories. You also have the opportunity to collate all the feedback you have received and add tags to them. This allows you to identify and deploy corrective measures before small issue balloons up into a major hindrance. It basically lets you view how your hard work is translating into measurable growth. It is a myth that hard work alone will lead to success. The path to success is paved with the right efforts channeled towards the right goals, and this what an effective analysis and timely reports will help you achieve.
Payments Schedule Management:
An essential cornerstone of any successful endeavor is a reliable and flexible payment scheduling and management system. The payments are not limited to the commission or fees you are supposed to receive as a real estate agent. It also includes the payments of any legal or professional fees that the clients are supposed to make.
A real estate platform will provide you with a robust system that lets you collate all the information regarding the properties you are handling and set up reminders for recurring tasks such as payment of lease renewal or charges for lease termination. You can cross-schedule the payment features with a timely reminder feature. This will prevent the avoidable payments of penalties. Providing this kind of full suit service to your clients will foster good relationships with them. An effective and feature-rich payment system will help you achieve greater heights.
This was just a brief overview of the wide array of benefits you stand to gain by registering on a real estate platform. These platforms are going to be the new way of conducting and expanding your business. Both new and experienced real estate agents can expect a lot of growth by utilizing the above-mentioned features provided by real estate platforms.
It goes without saying that the success rate of an agent registering on such platforms is directly influenced by the quality of the real estate platform. If you opt for a highly respected and success-generating platform like Dorrmat, then you would definitely gain a lot. With their 20 years of experience in the real estate business, this platform has been created carefully to deliver the best services and render professional support to the registered real estate agents. So, choose wisely. Make sure you are registering on a platform that will ensure that your time is not wasted, and you are provided all the necessary assistance to be a successful real estate agent.