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Define Your Brokerage

Next year is going to bring a lot of changes to the real estate industry, and one of the constant conversations I’m having now is – what would your brokerage look like? … – Small brokerage, possibly broker-only, perhaps some higher level education component – Menu-style commissions – let the consumers and the Realtors negotiate rather than rely on the MLS offering – mimic upfront mortgage brokers – Embrace transparency – Go paperless, a la Kris Berg – Get consumers to use our search tool – and only our search tool – Implement a VOW – Encourage associates to participate in the Local, State and National Associations – No print marketing.

Next year is going to bring a lot of changes to the real estate industry, and one of the constant conversations I'm having now is - what would your brokerage look like? ... - Small brokerage, possibly broker-only, perhaps some higher level education component - Menu-style commissions - let the consumers and the Realtors negotiate rather than rely on the MLS offering - mimic upfront mortgage brokers - Embrace transparency - Go paperless, a la Kris Berg - Get consumers to use our search tool - and only our search tool - Implement a VOW - Encourage associates to participate in the Local, State and National Associations - No print marketing.

Stepping Into The Future

Photo Courtesy

Signs, Video, Maps, GeoCoding, Mashups, IDX, RSS, Social Media & Twitter

Next year is going to bring a lot of changes to the real estate industry, and one of the constant conversations I’m having now is – what would your brokerage look like? Here’s my starter list –

Awesome signage for listings – signs are part of the foundation of real estate marketing, but I haven’t seen anything like this in my market.

– Video tours, photos, floorplans for all listings – simple to promise and systematize.

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– Small brokerage, possibly broker-only, perhaps some higher level education component

– Menu-style commissions – let the consumers and the Realtors negotiate rather than rely on the MLS offering – mimic upfront mortgage brokers

– Embrace transparency

– Go paperless, a la Kris Berg

– Get consumers to use our search tool – and only our search tool

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Implement a VOW

– Encourage associates to participate in the Local, State and National Associations

– No print marketing. Ever. (It’s environmentally friendly and fiscally responsible)

– Work as a team – sort of a hybrid of the white label brokerage.

– Have a company blog – internal and external – to ensure that we’re all reading important stuff. Publish really important stuff as well.

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– Stay flexible, adaptable and able to re-invent every quarter, if necessary.

– Publish economic analyses quarterly

This is a start – what would your list look like? What tools would you have in your toolbox?

Having just finished Made to Stick, this statement stuck with me –

“We don’t want to be first, but we sure as hell don’t want to be third.”

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Written By

Dad, Husband, Charlottesville Realtor, real estate Blogger, occasional speaker - Inman Connects, NAR Conferences - based in Charlottesville, Virginia. A native Virginian, I graduated from VMI in 1998, am a third generation Realtor (since 2001) and have been "publishing" as a real estate blogger since January 2005. I've chosen to get involved in Realtor Associations on the local, state & national levels, having served on the NAR's RPR & MLS groups. Find me in Charlottesville, Crozet and Twitter.

3 Comments

3 Comments

  1. fred

    December 23, 2008 at 10:08 pm

    This is an awesome list of ideas! Thanks for posting. I have been working on changing and re-defining my business model over this past year, implementing some of your ideas already. Now it’s time to start building a team of independent realtors looking for a change.

  2. Paula Henry

    December 24, 2008 at 6:16 am

    I am always amazed how many brokers continue to limp along without any idea how the real estate business model changed.

    They continue to die a slow death and wonder what happened. You offer some great ideas, now only, if we could get them to “act”.

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