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It can be costly to run a real estate business when you rent office space and hire physical staff.
The overheads for a traditional real estate business model include commercial rent or mortgage repayments, furniture and technology, salaries, parking for staff, water, electricity and internet usage – and that’s just the tip of the iceberg.
The agency of the future is set up to create a bigger impact with a smaller investment, ensuring start-up businesses and established businesses looking for a fresh start take home a bigger percentage of their hard-earned profits.
Chief executive of Bespoke Media Nic Fren has made a living educating real estate agents on how to use digital media to cut through the noise and make an impact on prospective clients.
“Social media is the new shop front of a real estate business. Gone are the days when prospective clients walk up and down the main street glancing in real estate business windows to see what’s for sale or for rent. If you’re not present and posting relevant content on your social media accounts – you’re missing a huge section of the prospective real estate market,” he said.
“A digital strategy is something that is essential for real estate businesses who are looking to gain momentum and succeed in today’s real estate world. This includes a comprehensive website, social media on key platforms including Tik Tok and a targeted email campaign to gain new listings and new managements,” said Mr Fren.
Another traditional agency practice is to pay costly franchise membership fees, but that too could be the difference between breaking even in your first year in business and turning a tidy profit. Agency HQ CEO Mark Morrison has held executive positions working in two of Australia’s biggest real estate franchise networks, and he has moved into his own realm, offering a solution that is both cost-effective and supportive of agents who just want to do what they do best – list and sell property and leave the finer details to his team.
“COVID has pushed us into the tech space a lot quicker than we thought, forcing agents around Australia to send their employees home to work remotely under government health orders. What Agency HQ does is offer an affordable solution to businesses that want to scrap the shop front and the large head count of physical staff, and move to a more streamlined and cost-effective operation,” said Mr Morrison.
“There will always be the need for customers to have human contact with certain staff within your business, but the speed and agility of the systems you utilise will determine how many clients you reach. You don’t need to pay for expensive head office fit outs and suffer the expense of having high overheads. Agency HQ does admin, build agency rent rolls while you retain full ownership of the asset, and we offer the best comms in the industry.”
Options for Agency HQ clients include having their team of in-house property managers run your portfolio whilst white-labelling everything with your company branding. This removes the stress of running a busy rent roll but allows you to have the asset working for you in the background while you get out there and list and sell property.
With the real estate landscape changing drastically, and the rise in digital marketing taking a front seat within agency strategies, it’s imperative to move with the times in order to survive.
For more budget-friendly ideas, Mr Fren and Mr Morrison have joined forces to bring a webcast to agents looking to make big changes to their current business model or new agents looking to launch with a difference.
Register for the free webcast, taking place on Tuesday, 15 March, here.
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