This June, Inman’s editorial theme is Teams — we’re going to go deep on what it takes to grow your team amid this intense seller’s market. And if you’re not already a subscriber to our Teams Beat email newsletter, sent every Thursday, sign up now.
The pandemic changed everything for brokerage teams as we collectively worked to navigate and find new ways to thrive — despite numerous challenges. With no open houses and limited in-person contact, brokers had to harness the power of online tools and systems to keep business going.
As we continue to make progress and move toward a post-pandemic world, there are several needs that have emerged in our industry that will continue to be at the forefront for brokerage teams as they rethink their approach to buying and selling homes.
1. Online marketing tools
One of the key takeaways during the pandemic was the need to develop creative online marketing tools that reach the broadest target market possible, rather than just posting listings to the multiple listing service (MLS).
In this day and age, buyers are getting their news and market information from nontraditional media sources like social media, email newsletters and more.
So, now more than ever, given the limited inventory, most markets require creative marketing to sell homes. Harnessing these tools to better reach and serve prospective buyers will ensure teams continue to evolve with the changing landscape of our industry.
2. Global network
Leveraging and having access to a global network of professionals and agents who can share emerging inventory can help agents give their clients an advantage in this very competitive market.
Brokerage teams can partner with a real estate brokerage to capitalize on this kind of worldwide reach to further provide clients with the highest quality and level of service.
3. Prospecting tools
As a brokerage, empowering teams to develop effective and innovative prospecting tools is essential.
From creating a robust website that can serve as a pipeline for referrals to building out your social media presence and platforms, engaging with your followers and prospective clients while building a solid reputation as a change-maker and leader in the industry will ensure your business continues to grow.
4. Brokerage with reach
Teams need the advantage of a global brokerage to give them access to leads in all corners of the world. Aligning with the right company to grow your business is an important decision as we continue to work through this new normal.
Having a global mindsight is imperative to growth in today’s world. Thinking small is no longer enough.
5. Brand power
We’ve heard countless times from brokerage teams that aligning with a brokerage with a strong brand and presence in the market makes all the difference in their business.
Having an established brand behind you not only instills confidence, but also gives you access to unparalleled tools and resources that will help elevate your offering and standing within the industry. Not to mention, it will help you stand out amongst your competitors.
All in all, the pandemic has served as an incredible learning experience for brokerage teams to continue to evolve and adapt to our fast-paced industry and the changing market we’re experiencing today. Teams can utilize the tools at their disposal to continue to grow their business and meet the emerging needs dictated by today’s market.
Whether it’s investing in creative marketing tools, aligning with a brokerage with serious brand power or tapping into a global network of agents and professionals, these strategies will help to propel a team’s success forward as we continue to navigate this unprecedented moment in our history.
Rainy Hake Austin is the president of The Agency in Los Angeles, California. Connect with her on Instagram.
