Re-evaluating broker value

NEW YORK – Jan. 21, 2010 – The nature of today’s real estate market – where agents have the resources to conduct most of their business online, work remotely, advertise for less and keep in touch with clients through the Web – is calling the value of brokers into question. An expert panel appearing at the recent Real Estate Connect event, however, pointed out that brokers have a role in helping agents navigate these different tools available and distinguish themselves from the competition.

“There are all kinds of different [real estate] tools,” says Ken Baris, president of Jordan Baris Inc., “but if [agents] get lost – how are [they] going to effectively use them?”

One example, according to Jonathan Kauffmann of Virginia-based Nest Realty, is a Customer Relationship Management (CRM) system – one of six attributes that he said agents seek in a broker. “It’s so important for agents to stay in touch with past clients,” Kauffmann said. “[A CRM] is how you track what you’ve done. Not many brokers or agents use CRMs, but it’s a great way to make more money and be as efficient as possible.”

Both Kauffmann and Baris also cited branding – and the ability to differentiate it from other agents and companies – as a critical tool that brokerages offer to agents.

According to Kauffmann, the other four attributes are fiscal responsibility, education and information, technology and marketing tools.

In addition, panelists said brokers can show agents how to respond to market trends or crises that arise. Finally, they offer such benefits as alliances with major brands.

Source: Inman News