Technology Tools Used by Great Office Managers
By Victor Lund on the WAV Group blog
Posted by: RET Staff
All too frequently, companies focus on broker tools or agent tools, losing sight of the tools used by great managers. Brokers who truly understand the value of office managers dedicate resources to deliver manager tools that drive company success and agent productivity. These tools fold into three categories: Market Analysis, Sales Analysis, and Agent Effectiveness.
Market Analysis Tools
Market Analysis involves using tools like Terradatum Broker Matrix or Trendgraphix. These tools give office managers access to two specific measurements that are key to success: Competitor Sales Volume and Agent Sales Volume, relative to market pace.
The first is a competitive overview of competitor sales volume vs. office sales volume. Managers can compare their office productivity relative to competition in the market to understand pace. Pace is a different measurement than market share, and is more important. Your office will always grow or shrink in sales volume relative to real estate cycles. Pace is the measurement of growth vs. competitive growth. If your office is up 22%, you may be excited. But if competitive offices are up 28% in the same market, you are losing pace. Likewise, an excellent manager may have a 10% loss in sales, but if competitors lost 15%, that manager's office has outpaced competitors by 5%. Sometimes, even when you are losing, you win.