3 Ways Independent Brokerages Can Win the War Against the 'Big Boys'

As more and more of the larger franchise organizations acquire and roll out proprietary CRM technology, it's become increasingly difficult for small to mid-sized independents to maintain their competitive edge.

Recently, 20+ year real estate veteran Frank Chimento sat down with Bondilyn Jolly of Elevate and 3sixtyfive.agency to discuss the frustrations and challenges that the independent broker faces, and the limitations that "bolt-on" technology presents when attempting to aggressively recruit and retain agents, all while remaining profitable in a time of shrinking margins. Stream the conversation below and continue reading on for three challenges (and solutions) to how independents are leveling the playing field between themselves and big box brands.

Challenge #1: Agent Adoption of Technology

End-to-end technology that offers lead generation, nurturing and conversion tools for agents is costly, and many independent brokers struggle to offer highly adoptable options, leaving their agents struggling to fill the void. Many times, brokers have to offer a series of "bolt-on" solutions, incurring additional costs and vendor frustrations, only to recognize little agent adoption.

Solution:

When a broker is able to offer one, simple-to-use solution to their agents, it allows those agents to streamline the most critical parts of their day-to-day, while also offering true insight into what's working and what isn't. Agents are sales people, so technology, software and marketing can be intimidating. Any broker that can address this intimidation by offering a comprehensive offering, complemented by an intuitive onboarding and support experience, has an advantage over their competitors.

Challenge #2: Agent Concerns about Privacy of Data

Who owns an agent's data is a hot topic, especially when the technology is owned by a large corporation (e.g., Compass acquiring Contactually caused a freak-out—and mass exodus—for agents using Contactually that were NOT part of the Compass organization). Agents work hard to build their pipeline and don't want their broker or their franchise organization claiming ownership in the 'fine print.'

Solution:

If brokers want to provide a solution that agents will adopt, they should offer full transparency into the data that they access and ensure that agent's proprietary information is protected. Not only will this foster stronger, trusting relationships between the broker and agent, but it drives higher adoption because the agent knows that if they leave their brokerage at a later point, their data goes with them.

Challenge #3: Agent Perception of Value

When agents are forced to use multiple "bolt-on" technologies that don't connect together, it can be challenging to understand the value of their investment, leading to "buyer's remorse" and churn. On average, agents have to manage between 10-12 different technology tools, which is more costly, confusing, and time-consuming.

Solution:

Agents need insight into the ROI of their marketing and technology tools in an easily consumable way. A broker that can offer a solution with one dashboard providing at-a-glance metrics AND that connects all of an agent's day-to-day activities is going to win—even against the "big boys" that tend to be slower to develop due to the bureaucratic structure of their organizations.

Is there a solution out there that drives high agent adoption, addresses privacy concerns, and provides valuable insight—all while being affordable for small to mid-sized brokerages to invest in for their agents?

Yes, and that solution is found in Elevate, one of the hottest new CRM technologies to hit the market. Designed by agents and brokers FOR agents and brokers, Elevate levels the playing field between independents and big box brands.

Affordable. Adoptable. Intuitive. Protected.

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Interesting in learning more about this topic?

Join RE Technology's upcoming webinar:

"Tired of Large Brokerages or New Brands Stealing Your Thunder? Learn how Small to Mid-Sized Independents are Fighting Back."
with Bondilyn, Frank and Justin Falb, broker.