Brokerage – The Close https://theclose.com Tue, 26 Apr 2022 18:25:27 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://theclose.com/wp-content/uploads/2017/12/theclosefbprofile2-60x60.png Brokerage – The Close https://theclose.com 32 32 6 New Real Estate Tech Companies to Watch Out for in 2022 https://theclose.com/real-estate-tech-companies/ https://theclose.com/real-estate-tech-companies/#respond Mon, 25 Apr 2022 14:15:50 +0000 https://theclose.com/?p=37022 New real estate tech companies seem to pop up every single day.

The post 6 New Real Estate Tech Companies to Watch Out for in 2022 appeared first on The Close.

]]>
New real estate tech companies seem to pop up every single day. With such a crowded marketplace, it’s hard to know which companies are just a flash in the pan and which are ones you should pay attention to. 

To help you cut through the noise, our team at The Close spent the week at the Inman Connect 2022 conference in New York, talking to literally every real estate tech vendor on the expo floor, choosing our list of new real estate tech companies that we think are going to make a splash this year and beyond. 

Here are our favorites: 

The Close’s Top 6 New Real Estate Tech Companies to Watch Out For

Real Estate Tech CompanyWhat They Do
Cubicasa2D property floorplan generator using only your smartphone
RevaluatePredictive analytics company focused on getting more transactions from your sphere
DomoticsInnovative presentation platform; Zillow meets Zoom
Artur’inProvide the easiest way to hire a digital marketing agency
Tomi.aiHelp large-scale real estate businesses target better audiences for lead generation
InspectifyTake the headache out of the property inspection process

1. Cubicasa

Cubicasa is a 2-D digital floorplan generator that makes creating accurate, usable, shareable floorplans of any property easy, quick and reliable. A process that used to involve multiple people, complicated laser measuring tools, and many days (sometimes weeks) of turnaround can now be executed with any working iPhone or Android device and delivered in a single business day.

A typical floorplan generated by Cubicasa
A typical floorplan generated by Cubicasa in a single business day.

Why Cubicasa is on Our List

Cubicasa is offering an elegant, market-focused solution to a problem many in the real estate industry face. An overwhelming number of real estate buyers and renters report that these sorts of top-down floorplans are critical to the decision-making process in the final stages of home shopping. Harnessing the technology most agents already have in their pocket, Cubicasa solved this problem, and are doing so remarkably affordably, with most floor plans less than $30 each. 

Look for Cubicasa to make a big splash in the 2022 marketplace, it wouldn’t surprise us to see them on a number of best-of lists this year.

Visit Cubicasa

Related Article
Sean’s 47-Point Ultimate Real Estate Listing Marketing Plan (PDF Checklist)

2. Revaluate

Reevaluate Logo

Reevaluate is a predictive analytics company that offers a very interesting twist on the idea that we can use big data to generate more, better, leads – all with higher conversion rates. 

Why is Revaluate unique? Instead of pointing the magnifying glass of big data at the market at large, Revaluate users upload their existing contact database to the Revaluate platform for analysis. This analysis identifies then predicts which of the people in an agent or broker’s sphere of influence are most likely to become buyers or sellers, rather than looking at a community or geographic area as a whole.

Revaluate platform for analysis
Some of the things Revaluate looks for in the behavior or your existing sphere of influence to indicate buyer or seller readiness.

Why is Revaluate on Our List

Successful real estate lead generation is about two things: 

  • Getting the right message in front of the right people at the right time
  • Nurturing a relationship with those people so that they trust you with their real estate needs. 

Basic predictive analytics marketing relies a lot on cold outreach, so while you might be reaching the right audience at the right time, the people you’re reaching don’t know who you are, so they’ll require a lot of hand-holding in order to get them to a point where they’re ready to transact.

With Revaluate, the people you’re reaching already know, like, and trust you, so your messages will be much more warmly received, and your conversion rates will be much higher. And, with a price point of right around a dollar per contact per year, even agents with a limited budget can find success here.

Visit Revaluate

Related Article
Predictive Analytics: How to Get More Listings With Less Marketing

3. Domotics

Domotics Logo

Domotics is a real estate marketing and communication platform that makes virtual meetings with your clients more productive, more interactive, and gives them the information they need to make decisions about properties faster.

The information you get on Domotics isn’t anything new; their slick user interface presents buyers with the same photos, virtual walkthroughs, videos, and property information you’d see on your local MLS or third-party platform. However, with Domotics, you get a platform designed to be shared; you can log on with your clients in real time from anywhere, guide them through all the information, answer their questions, and curate the experience. Think of Domotics as Zillow meets Zoom.

The interactive Domotics platform
The interactive Domotics platform works on virtually any device, including smart TVs, Apple TV, phones, computers, even immersive VR headsets.

Why Domotics is on Our List

Domotics has features that are so smart and intuitive, it’s honestly a surprise that we haven’t seen them built into other platforms by now. Domotics gives agents the ability to curate a clients’ online experiences, talking them through properties virtually, answering their questions in real-time, offering face-to-face video, live chat, and more. These are all absolute level-ups agents and brokers looking to provide high-end service to provide their clients. 

Plus, with Domotics, you don’t have to limit this to a one-on-one experience. On this platform,  you can host virtual open houses, inviting as many people as you’d like to come and hear your presentation, tour the home via online media, and ask all their questions. Buyers love the access, sellers love the exposure and attention. This is a slam dunk.

Visit Domotics

Related Article
Real Estate Virtual Tours in 2022: New Affordable Tech & Top Picks

4. Artur’in

Artur’in Logo

Hiring Artur’in is like hiring a digital marketing agency for your real estate business without all the hassle of, ya know, actually hiring a digital marketing agency. They’ve taken the best parts of working with a dedicated creative agency (social media content, blogs written for you, reputation management, lead generation services, even professional photography and videography), and made it all accessible on their digital platform. 

Log in, get what you need, check your progress on projects, and get back to work. No soul-sucking meetings every week, no frustrating phone calls with someone who isn’t really listening, just the assets you need, when you need them, designed just for you.

Actual social media content generated by Artur’in
Examples of actual social media content generated by Artur’in on behalf of real estate clients.

Why Artur’in is on Our List

Artur’in isn’t doing anything revolutionary, they’re just doing it better, more conveniently, and providing better value than their competitors. It used to be that in order to get this level of service there was a SERIOUS commitment of time, of money, and quite frankly, of emotional frustration.

If you don’t have time to manage your own digital marketing, improve your online reputation, or build your brand, Artur’in is a real estate tech company you should take a look at.

Visit Artur’in

Related Article
7 Real Estate Marketing Companies to Boost Your Business in 2022

5. Tomi.ai

Tomi.ai Logo

Tomi.ai is another predictive analytics company seeking to use big data to improve your real estate lead conversion rates, but likely not in the way you expect. The team at Tomi.ai smartly identified that every real estate agent / team / brokerage is unique — that each real estate business is going to have its own strengths when it comes to the sort of clients it converts most frequently.

So, using data analytics, Tomi.ai tracks the performance of your team’s lead conversion, identifying exactly the characteristics of the clients you tend to convert most, then automatically tweaks the audience targets on your ads on places like Facebook and Google to attract more of the leads your team does best with.

Targeting, Optimization, Measurement, and Insights.
The name “Tomi” is an acronym for what this company does best: Targeting, Optimization, Measurement, and Insights.

Why Tomi.ai is on Our List

Success in real estate is all about personalization. Customizing your approach to marketing, branding, client service, and lead generation is often the difference between a brokerage that just breaks even every year, and one that leads their market. 

Tomi.ai leverages technology to drill down into what your team’s specific strengths are and plays to those strengths when it comes to the sort of leads you’re generating. Tomi.ai isn’t for everyone (right now, they require a pretty hefty ad spend on major networks like Google or Facebook to use their tool), but for anyone running an enterprise-level operation, they should absolutely be in your tech-stack conversation. 

Don’t think of Tomi.ai as your lead generation engine, think of them as the turbo-booster that is going to accelerate you and your efforts.

Visit Tomi.ai

Related Article
The Top 6 Real Estate Lead Generation Companies for 2022

6. Inspectify

Inspectify Logo

Inspectify is a digital platform designed to make the scheduling, conducting, and decision-making when it comes to property inspections easier for all parties involved. It does so by creating a marketplace of verified inspectors in just about every major real estate market in the US. Inspectify vets inspectors, and after they’re verified as legit, they’re listed as available options for use by homebuyers. 

When a buyer wants to conduct an inspection on a property, instead of having to coordinate with the buyer’s agent, the seller, the seller’s agent, and the inspector, Inspectify handles all the scheduling for you. Then, after the inspection is complete, they review it to make sure the inspector has covered everything, and they even provide an estimate for remediation costs for anything that needs fixing before or after the sale closes.

The Inspectify user portal
The Inspectify user portal is easy to use and allows buyers to order home inspections in less than 10 minutes with just a few clicks – no phone calls or scheduling necessary. Just put in your inspection deadline and Inspectify does the rest.

Why Inspectify is on Our List

Inspectify is a “technology shortcut” that provides an easy answer to what many agents (myself included) consider a major hassle. And, the best part is, this service is completely free (at least, to real estate agents and clients). The cost to use the platform is borne by the inspector who pays a small referral fee in order to receive the order for the inspection. 

So, the buyer (or whoever is paying for the home inspection) will pay the cost of the inspection, but the coordination, delivery, and service-after-the-fact are all paid for by the inspector. 

Inspectify seems like an easy way to eliminate an annoying task from the real estate purchase process, and is a great way to service your clients (without paying anything extra). We’re excited to see how they do this year, and whether or not they’ll move into other verticals of the real estate transaction process.

Visit Inspectify

Related Article
5 Must-have Real Estate Buyer Agent Checklists (PDF Download)

Your Turn

Were you at Inman Connect New York this year? Which real estate tech companies were you intrigued by? Tell us in the comments below. Also, if you have a suggestion for a tech company that wasn’t at the conference you think we should check out, let us know!

The post 6 New Real Estate Tech Companies to Watch Out for in 2022 appeared first on The Close.

]]>
https://theclose.com/real-estate-tech-companies/feed/ 0
3 Foolproof Team Models for 2022: Hiring, Splits, Lead Gen + More https://theclose.com/real-estate-team-structure/ https://theclose.com/real-estate-team-structure/#comments Fri, 01 Apr 2022 23:52:36 +0000 https://theclose.com/?p=13541 If you're building a real estate team this year, let us help you determine which real estate team structure is right for you.

The post 3 Foolproof Team Models for 2022: Hiring, Splits, Lead Gen + More appeared first on The Close.

]]>
In my 27-year real estate career, I’ve built two million-dollar real estate teams and coached some of the most successful teams in the nation. I am a firm believer in the value of teams for building long-term success and wealth. If you want to build a successful real estate team of your own, the challenge lies in choosing the best real estate team structure for you.

Let’s take a look at the three most successful team models in real estate today so you can make an informed decision and build your own multi-million-dollar team. If you’re starting from scratch, I recommend ZipRecruiter, an all-in-one app for recruiting and hiring both agents and support staff. It’s the number one rated job-seeking app on both Apple and Android, so you’ll always cast the widest net and find hidden talent.

Visit ZipRecruiter

The Best Real Estate Team Models for 2022

A female executive enjoying on a team conference

Before deciding which real estate team model is best for you, you have to understand the financial risks, difficulties, and potential outcomes. Traditionally, the three most successful real estate team models include The Mentor/Mentee Model, The Team Leader Model, and The Lead Team Model. Here’s a quick comparison of each team model:

 
Mentor/Mentee Model
Team Leader Model
Lead Team Model
Number of Team Members
5-10
2-5
3-10
Split to Team Member
70-90%
50-60%
30-40%
Expected Transactions/Year per Team Member
3-6 per year
8-12 per year
12-36 per year
Team Member Retention
Intentionally low
High
Medium
Number of Employees
0
1-2
2-5
Inside Sales Required
No
Maybe
Yes
Overall Cost to Operate
$0-Low
Medium
High
Difficulty
Medium
Medium
High
Scalable to Other Markets
No
No
Yes

Now, let’s do a deeper dive into each model:

1. The Mentor/Mentee Real Estate Team Structure

Two businesspeople shaking hands

If you are looking for a low-cost, low-risk real estate team structure, look no further. In this model, you mentor newer agents into the business in exchange for a percentage of their commissions for a specific period (typically 12 to 24 months). After that, the new agent will leave the team and pursue their real estate career. 

You provide structure, set expectations for success, and answer questions. However, you are not providing leads, paying for their marketing, or managing team members. This is a common real estate team model for brokerage agents that offer residual income from their MLM (multilevel marketing) or downlines, like Keller Williams, Exit, and eXp.

Mentor/Mentee Real Estate Team Organizational Chart

Real Estate Team Structure: Organizational Chart of Mentor or Mentee Real Estate Team

The Mentor/Mentee real estate team structure doesn’t include Operations in its organization chart. Operational activities are handled by the brokerage or outsourced to a transaction coordinator.

The organizational model is simple. As the mentor, you recruit new team members, train them to be successful, and then you transition them into your downline. To maximize your downline further, teach your team members to do the same. This will grow your downline exponentially and provide you (and them) with long-term residual income.

Mentor/Mentee Real Estate Team Lead Generation Model

The objective of the Mentor/Mentee Model is to teach new agents to fish (when a cliche works, it works!) They pay you a portion of their commission for access to your lead generation knowledge and experience, not for actual leads or marketing.

As a mentor, you can teach outbound prospecting, sphere of influence (SOI) calls, strategic planning, and even how to host an effective open house.

Related Article
37 Underrated Real Estate Lead Generation Ideas for 2022

Mentor/Mentee Real Estate Team Model Services & Expectations

Mentors and mentees set their own individual goals. Ultimately, you want your mentees to be successful, so you’ll want them to keep all clients and leads they generate while on your team.

You may choose to provide administration or transaction coordination, but it’s not required. Team members are responsible for their marketing and advertising. Remember, the value of your team is your time and training, not what resources you are providing. 

Why Retention Is Intentionally Low

Team member retention is intentionally low because it purposefully moves new agents into production. When your mentees transition into your downline, you receive a portion of the brokerage’s revenue or profit generated from that agent’s transactions, even after they leave your team.

Mentor/Mentee Real Estate Team Model Splits & Costs

This real estate team structure teaches team members to become independent real estate agents. Team members are responsible for all the expenses associated with being an agent, including marketing, their office bill, MLS fees, and split to the brokerage.

The splits in this model are lower for you than other real estate team models because you are not paying their expenses. Therefore, you can only expect to get between 10% and 30% of their commissions.

The mentee should receive at least 50% of the total commission after the brokerage takes its portion and the split is paid to you. This ensures that your team member makes enough money to stay in business.

How to Tell if the Mentor/Mentee Model Is Right for You

If you like to teach, are part of an MLM-style brokerage, and want to produce a continuous source of productive agents to fill your downline, this is a perfect model. 

However, if you are not building a downline at your brokerage, think twice about this structure. Inherent turnover means you are constantly training new agents, taking time away from your production. You might find that the small portion of commission you earn for training a new agent doesn’t compensate you for the time you could’ve been making sales.

2. The Team Leader Model

Dawn McKenna Team leader model
Dawn McKenna Group, Naples, Florida

The Team Leader Model is centered around actively promoting the team leader or the team leader’s brand. This traditional real estate team structure focuses its efforts around a neighborhood or community.

As the team leader, you provide structure and resources to team members, and team members promote the team leader’s brand, not themselves. Because you’re building a brand around a specific community, high standards and unmatched customer service are essential.

Team Leader Model Organizational Chart

Real Estate Team Structure: Organizational Chart of Team Leader Model

The Team Leader Model is divided into operations and sales. The team leader is typically the lead listing agent, and team members are showing-agent roles. The sales side of the organization may also include a telemarketer and a second listing agent.

This structure requires at least one employee and one business manager, but is most effective with an additional marketing manager and transaction coordinator.

Team Leader Model: Primary Lead Generation Strategy

As the team leader, you set lead generation goals, team member expectations, and maintain standards. You are also responsible for leads for the team. Client referrals are the secret to success, so maintaining relationships and providing unmatched service is crucial. Keep lead generation costs low so you can spend those savings on making your client experience second to none.

Related Article
Jay O’Brien: How to Deliver 7-Star Service in a 3-Star Industry

Lead Ownership

You may, at times, feel the need to allow the team members to retain clients after the closing. But don’t—this could be a huge mistake!

You took the time to create the team, assumed the risk of hiring employees, and covered the operational costs. Therefore, every client should remain a client of the team, not the individual agents. 

This ensures that if/when a team member leaves, the lead will continue to be marketed to by the team and not by the former team member. This must be clear when inviting a new member onto your team.

Team Leader Real Estate Team Model Services & Expectations

Since this real estate team model is based on high-level customer service, you’ll want to provide full-time administrative support so the rest of the team can focus on sales activities.

You should also provide all marketing materials to ensure brand quality and uniformity. 

How to Set Expectations & Reduce Turnover

Team members should have specific weekly or monthly productivity goals, like number of contacts, leads, contracts, and closings.

Generally, team members should produce four to six transactions their first year and eight to 12 transactions thereafter. Half of their business should come from their sphere of influence, while the other half will come from team lead generation activities.

This real estate team structure has higher retention rates because you’re carefully hiring for a team’s cultural fit. But if a team member fails in customer service or has a poor attitude, it reflects on you and your brand. Hire slow and fire fast should be your motto for this team model! 

Team Leader Model Splits & Costs

Member splits are typically 50/50 or 60/40 (40% to the team), depending on the source of business. You might give a larger split if the team member provided the lead from their sphere. 

Remember that your split must be enough for you to provide support and marketing for the rest of the team. If your split is too low, you may end up using your commission income.

As far as costs go, team members should be responsible for their phones, cars, and National Association of Realtors (NAR) dues. However, depending on the percentage of commission you take, you may choose to cover the common business expenses, like office bills, errors and omissions insurance, signs, cards, MLS, and lockboxes. 

How to Tell if the Team Leader Model Is Right for You

This is an excellent real estate team structure for someone with an established brand (or someone who has a strong vision for building a brand). You’ll also need high standards, enjoy working with others, and have proven techniques that generate business. Setting expectations is essential, as is selecting the right team members.

However, there are some challenges with this team structure. For example, if you don’t take the time to appreciate your team members, it could lead to resentment and jealousy. To have long-lasting success, you will need to check your ego at the door. Don’t let emotions cloud the bigger picture … TOTAL COMMUNITY DOMINANCE!

Related Article
How to Start a Rock-solid Real Estate Team in 2022

3. The Lead Team Model

Real estate agent making a virtual tour of a house

The Lead Team Model is divided into sales and operations but further separates the sales side into inside and outside sales.

  1. Inside Sales: They deal with inbound leads, follow-up, and prequalification.
  2. Outside Sales: They handle showings, negotiations, and contracts.

This real estate team structure is high-cost and requires high transaction volume to keep the machine moving. It’s the most expensive and riskiest to operate, but when done correctly, there’s absolutely no limit to your success.

Lead Team Model Organizational Chart

Real Estate Team Structure: Organizational Chart of the Lead Team Model

This model is operations-driven, not sales-driven. The operations team oversees sales, instead of the other way around. It’s essential to have both a business manager for operations and a lead manager for the sales team.

The inside sales team follows up on leads from your advertising efforts and ensures lead qualification and assignment. The outside sales team is responsible for showings, negotiations, and contracts. 

Remember, there are some great alternatives to hiring an inside sales team member. With an ISA (Inside Sales Agent) company like Real Qualified, you can essentially outsource the job of qualifying leads and nurturing existing leads.

Visit Real Qualified

Lead Team Model: Lead Generation Strategy

The Lead Team Model’s primary source of lead generation is advertising, which is expensive—it could easily cost $500 to over $20,000 per month. 

Your advertising budget should include sites like Zillow and Google, or lead acquisition platforms like Zurple, BoomTown, and kvCORE (see my kvCORE review here). If you prefer prospecting, your team can prospect expired and FSBO (For Sale By Owner) leads using software like REDX and Landvoice. Just note that the cost and strategy of lead generation for the entire team is your responsibility.

Related Article
Why This Broker Spends $155,000 per Month on Lead Generation…

Lead Team Model Services & Expectations

Expensive lead generation and tight profit margins mean team members have higher expectations and rigid daily or weekly milestones that must be met. It’s reasonable for each team member to close a minimum of one transaction per month, with a stretch goal of three closings a month. 

This model attracts newer agents because of the low split or flat fee. Turnover, therefore, can be higher than with the Team Leader Model. To protect your brokerage, be sure to write into your team agreements that clients remain with the team if an agent leaves. 

Lead Team Model Splits & Costs

Because this real estate team structure is high volume and heavily reliant on systems (not skills), it’s pretty ideal for brand-new agents. 

As you build your team, look for team members who are highly driven and hoping for the right opportunity. You may want to consider covering some of their administrative costs, like MLS and NAR dues, so they can focus on your leads instead of taking a part-time job.

Inside Versus Outside Sales Compensation

Be sure to comply with state employment requirements, including minimum wages, tax withholding, and whether certain team members should be classified as employees or independent contractors.

Outside salespeople should receive 25% to 30% of the commission or a flat fee of $800 to $1,500 per closing. This may seem low, but the outside salesperson doesn’t have any expenses. Nor do they handle the lead acquisition, manage the lead once it’s under contract, or assume the financial and legal risks that you do.

With this setup, they could easily build up to three to six transactions a month and make $40,000 to $60,000 their first year. You should compensate inside salespeople with an hourly rate plus a bonus for appointments set or successful closings. 

How to Tell if the Lead Team Model Is Right for You

Do you want a large real estate team—but without being the brand or meeting with every client? Then this is perfect for you. It operates on systems that manage hundreds—if not thousands—of leads every month, which means you can build a scalable business that can generate millions in commissions. 

However, you will need significant startup capital. This is the most expensive of all the models to set up and operate, so there is substantial financial risk if you don’t get it right. The most common mistake is overpaying team members. The advertising costs are too high, and the margins are just too thin to overpay your team.

Related Article
The Ultimate Guide to Recruiting Agents for Your Team or Brokerage (+ Scripts)

Bottom Line

There are thousands of successful real estate teams across the nation, and each has its own unique structure. The three I outlined here are the most common successful models, and if you follow my advice, they will give you the best chance of success in building your real estate team.

Over to You

Have a real estate team structure that we overlooked? Let us know in the comments or join the conversation in our Facebook Mastermind Group.

The post 3 Foolproof Team Models for 2022: Hiring, Splits, Lead Gen + More appeared first on The Close.

]]>
https://theclose.com/real-estate-team-structure/feed/ 6
The Ultimate Guide to Recruiting Agents for Your Team or Brokerage (+ Scripts) https://theclose.com/recruiting-real-estate-agents/ https://theclose.com/recruiting-real-estate-agents/#comments Thu, 24 Mar 2022 00:14:44 +0000 https://theclose.com/?p=13671 In 2003, I left RE/MAX to start a boutique real estate brokerage.

The post The Ultimate Guide to Recruiting Agents for Your Team or Brokerage (+ Scripts) appeared first on The Close.

]]>
In 2003, I left RE/MAX to start a boutique real estate brokerage. I was a top-producing agent, so I assumed building a real estate brokerage would be easy. Yet four years later, we had the same number of agents as the day we opened. I recognized that recruiting real estate agents would be essential to our success, and we needed to be the best at it.

We’re now one of the fastest-growing real estate brokerages in Colorado and add an average of 40 new agents every year. The biggest lesson learned: You must have a strategic plan and know how to recruit real estate agents. This article covers my strategy for poaching producing agents from other brokerages, as well as some retention strategies to help build on your recruitment success.

Why You Need a Plan for Recruiting Real Estate Agents

Over time, all teams and brokerages will lose agents. Attrition in this industry is inevitable. NAR reports that the median tenure of Realtors at a brokerage is just five years. But fewer agents means lower potential revenue, and reduced revenue means fewer services available to your remaining agents. Even if you only want to add two or three agents a year, you need a viable recruitment plan.

There are only two ways to recruit. The right way and every other way. The right way means building relationships. Creating trust and showing your recruiting prospects that you care ensures that you attract the right agents. It also increases your chances of retaining agents after you have invested a lot of time and money in recruiting and training them.

Related Article
How to Build a Brokerage Brand That Attracts Customers & Agents

How to Identify the Ideal Agents to Recruit 

Before you make a recruiting call or send an email, identify what type of agents you are prepared to support in your organization. Agents in different phases of their careers have different needs. If you can’t support them, you can’t recruit them, and you certainly can’t retain them.

Finding & Recruiting New (or Newer) Real Estate Agents

There are two types of new agents: prelicensed candidates interested in getting their real estate license and current students or recent graduates of real estate school who are interviewing brokerages.

You can collect prelicensed and in-school leads by placing ads on employment websites like ZipRecruiter, Indeed, Career Builder, and Craigslist. You can direct high-funnel candidates to a real estate licensing school like Real Estate Express or Kaplan when they reach out. Keep in touch, so they are sure to interview with you once they receive their license.

You can find lower-funnel leads by contacting local real estate schools and asking them if you can present your team or brokerage to their classes. They will usually ask you to bring lunch or snacks for the students in exchange for a 15-minute presentation.

If you want to recruit brand new agents, ZipRecruiter is the way to go. It’s the #1 rated job search app on both Apple and Android devices, which means you’ll cast the widest net possible for new talent.

Visit ZipRecruiter

How to Support New Agents

If you plan to recruit brand new agents or ones who have only sold a few homes in the past year, be prepared to spend a lot of time training them in marketing, buyer and seller presentations, managing a database, and writing and negotiating contracts.

If you choose to hire more than a few new agents at a time, you’ll need a designated mentor or trainer and a detailed educational program at your brokerage. Otherwise, their needs will impact your personal real estate production. In short, if you don’t have the resources to train new agents, don’t recruit them.

Fortunately, we provide plenty of training resources for new agents at The Close and on The Close Pro.

Visit The Close Pro

Finding & Recruiting Producing Real Estate Agents

If you’re recruiting producing agents, you need an idea of their production and contact information. You can find it manually through your Multiple Listing Service (MLS). Most MLS offer the ability to search closed transactions.

Begin with a search of recently sold homes in your target territory. Download the list and sort by the listing agent’s name, which shows how many closings each agent has had in your area. 

In a sample search of 1,500 closed transactions, I identified more than 100 producing agents—great potential leads who sold two or more properties in my territory in the past six months. 

You can also find producing agents in just few clicks with recruiting software like BrokerMetrics. BrokerMetrics starts at $200 a month for the basic tools. In addition to agent production and contact information, BrokerMetrics can also provide market share and trend reports.

How to Support Producing Agents

Producing agents have basic needs that include a good website, an excellent customer relationship management (CRM) tool, lead generation support, and a sense of community. They are the easiest agents to manage but also the easiest to overlook—which makes them susceptible to getting poached by other brokerages. 

Creating a strong sense of community in your team or brokerage is key. Conduct regular team meetings, group lead generation activities, and mobilize around a common vision or cause to ensure everyone feels seen, appreciated, and supported.

Related Article
The 6 Best Real Estate Website Builders of 2022
Related Article
The Best Real Estate CRM for 2022: In-depth Reviews & Pricing

The Secret to Attracting, Recruiting & Retaining Top-producing Real Estate Agents

Recruiting top-producing real estate agents (typically, those who sell more than 30 homes a year) is all about knowing what they’re looking for: opportunities, recognition for their efforts, and/or a better compensation plan.

Opportunities

For top producers, opportunity could mean a leadership role, impressive title, learning something new, or accessing better training or mentors.

Recognition

Some top producers thrive on the approval of others (like me!). And believe it or not, many companies aren’t good at giving credit or recognition. Top producers typically invest more time and money into their businesses than other agents, helping to grow your brokerage brand.

For this reason, I believe they deserve special treatment. You don’t need to kiss their butt; they just need to feel appreciated. Create unique, exclusive experiences like inviting them to sporting events. I once took my top agents to see Tony Robbins in Palm Springs. They still talk about this trip 16 years later.

Compensation

Many top producers negotiated their compensation plan long before becoming top producers. They’re now paying an unfair share of their commissions to their brokerage and are looking for a better compensation plan. Nonetheless, changing your compensation model to accommodate a top producer could lead to resentment among other agents on your team and divide your brokerage.

Instead, build your team or brokerage compensation plan to attract financially conscious top producers. If you already have an established compensation model, consider offering an upfront signing bonus. 

Related Article
How to Start a Real Estate Brokerage in 2022 (Without Going Broke)

The Best Scripts for Recruiting Real Estate Agents

If you only learn one thing about recruiting scripts from this article, it should be this: The best script is the true script. So get very clear about who you are and are not. 

If you are a top-producing team that wants to build your brokerage brand, make that clear in your script. You might not appeal to a top producer who wants to grow their own personal brand, but you will attract mid-level agents who want to be part of something exciting and who aren’t concerned about being the “Top Dog.”

The key to recruiting success is to find the right candidates to join your organization, and not to get appointments with everyone with a real estate license. Think of your scripts as a means of weeding out the agents who don’t fit with your goals and culture. With this in mind, here are the four most effective scripts I have used to recruit producing agents to my brokerages.

Related Article
How to Attract the Agents Who Will Help Your Brokerage Grow in 2022

The Best ‘New to the Area’ Recruiting Script

This is a great script if you or your brokerage are new to the area. Once you’ve gathered a list of recruiting leads using the MLS or BrokerMetrics, use the following script to contact them. The secret to success with this script is to start with curiosity in your voice.

Many recruiters would scoff and say that this script is too direct because many companies reward recruiters for the number of appointments they set and not the quality of the lead or appointment. 

Another concern I hear with this script is with the word invest. Recruiters say things like “I don’t have money to give them” or “We don’t BUY agents.” However, you can devote your time to mentoring them, provide extra leads, or invest financially. However you choose to invest is up to you.

But remember, if you don’t plan on investing in agents in some way, you are going to have a hard time recruiting talented agents and retaining the ones you have.

The Most Effective Mid-level Agent Recruiting Script

Use this script with agents working in a specific community, neighborhood, or town. Begin by paying attention to their advertising on Facebook, newspapers, and listing signs. When you see an agent who is marketing a unique message or new listing, contact them with the following script.

This is one of my favorite recruiting scripts because it works on Facebook Messenger, text, and even on Slydial, as long as you are honest and transparent. 

The Best Events & Seminar Agent Recruiting Scripts

Holding events and seminars is an outstanding way to attract learning-based agents. These agents are likely newer to the business or mid-level seasoned agents looking for new ideas.

Keep it a small event, and don’t hold it in your office. Agents will be intimidated to come into the lion’s den. 

It’s best practice if you present the information or host the panel, which positions you as the expert … everyone wants to know the expert.

Trendy topics work best, like social media (especially TikTok) strategies, paid Facebook Ads, business planning, and cryptocurrency. 

Here is the exact script I use to get real estate agents to my events:

The secret to successfully recruiting at events is conversion. Think of your event like a lead magnet on your website. You need to offer something attendees want, but your end goal should be to convert them into recruitment leads.

The event is mainly for you to build trust through familiarity. They see you at an event, then later see you at an association meeting, and when you later call them to have coffee, they are more likely to listen to your recruitment pitch. 

Try the Columbo Script

Man Meeting Gesture

You may remember the TV detective series “Columbo,” where the main character would say, “Just one more thing” before revealing the secret that solves the mystery. At some point during an event, make the big reveal:

The Best Script for Recruiting Top-producing Agents

A recruiter’s greatest challenge is signing top-producing agents because their usual techniques often don’t resonate with successful agents who have their own processes and systems, a great personal brand, and tons of business.

Top producers are attracted to three things: opportunities, recognition, and compensation. As such, the secret to recruiting them is providing the special treatment they’ve earned. Be direct, clear, and concise. Either pick up the phone or walk into their office. An email or text doesn’t work for this script.

I am sure you are wondering what the opportunity is, right? That’s completely up to you to decide. Offer the opportunity to meet someone influential in the industry or join your organization on the ground floor before it reaches the next level. Whatever you decide, this script will help get them in the door.

Related Article
Sean’s 10 Best Real Estate Recruiting Strategies for Teams & Brokerages (+ Scripts)

Recruiting Real Estate Agents: How to Handle Common Objections

Bull Fighting

No ultimate guide to recruiting agents would be complete without addressing the common objections real estate agents present, and how to counter them. Remember, you’re playing the long game. It’s important not to burn relationships by being too pushy. If you overuse objection handlers, you can come across as insensitive.

The Most Common Objections You’ll Hear & How to Respond

I don’t want to move at this time. (Too busy.)

Honestly, as a successful, busy agent, there is never a good time to make a move. The good news is we can help make the transition easier. The sooner you can make the move, the sooner we can implement your new plan.

I am loyal to my Broker/Office. (I’m happy where I am.)

I respect the fact that you are loyal. In fact, that is exactly why I am interested in working with you. Let’s be honest, if you were getting the support you needed, would you even be talking with me right now?

I don’t want to leave my friends.

If I could demonstrate that we are not only a good fit for you, but it would also be good for them, how would you feel about bringing them by to meet me?

I don’t want to deal with the hassle of changing companies.

I understand completely. Many busy agents who have already joined us had the same concern. That is why we help you with the transition. Let’s go over a transition plan.

I don’t know how I can support myself without leads. (My broker gives me leads.)

What percentage of your leads are coming from your company? What is your split on those leads? If I can show you how to generate more income without having to be handed leads, would you look at joining my team?

Your company costs more than I pay now. (I don’t want to pay ______.)

To make more money, you must increase revenue, not simply cut your expenses. It doesn’t matter if your expenses are $0 if you’re not generating enough income. I will show you how to make enough money that the additional expense won’t matter.

I think I could sell more homes if I were with a better-known company.

NAR statistics show that consumers choose an agent by the company only 5% of the time. So if we can show you how to increase your business by 20%, would you be OK with a lesser-known company?

Key Takeaways: Recruiting Real Estate Agents to Your Team or Brokerage

All teams and brokerages face attrition. Losing agents over time means you’ll need a plan for recruiting real estate agents to maintain market share. Ultimately, your success lies in your ability to clearly communicate the services your team or brokerage provides to the right type of agents.

Your script is the first step in narrowing the field of agents in your territory. A good script is direct and to the point. It attracts or repels, allowing you to quickly sort the agents who are a good fit from the agents who are not.

Over to You

I hope this guide proves successful in recruiting agents to your team or brokerage. What did you think of our Ultimate Guide to Recruiting? What are your secrets to recruiting real estate agents? Let us know in the comments.

The post The Ultimate Guide to Recruiting Agents for Your Team or Brokerage (+ Scripts) appeared first on The Close.

]]>
https://theclose.com/recruiting-real-estate-agents/feed/ 11
The Average Real Estate Broker Salary for Every State https://theclose.com/real-estate-broker-salary/ https://theclose.com/real-estate-broker-salary/#comments Tue, 25 Jan 2022 14:00:03 +0000 https://theclose.com/?p=4847 According to Salary.com and Indeed.com, the average real estate broker salary in the United States is $68,256.

The post The Average Real Estate Broker Salary for Every State appeared first on The Close.

]]>
According to Salary.com and Indeed.com, the average real estate broker salary in the United States is $68,256. In addition to a base salary, managing real estate brokers in the U.S. earn an average of $42,000 in commission income, making their total average compensation reach $110,256.

California brokers lead the nation, earning a median income of $127,556, inclusive of both salary and commissions. Here’s how earnings for brokers and agents break down in the rest of the country, state by state.

Average Real Estate Broker Salary—State-by-State Guide

State
Average Statewide Broker Base Salary
Average Statewide Broker Income (Salary + Commissions)
Alabama$60,225$102,225
Alaska$65,375$107,375
Arizona$59,696$101,696
Arkansas$60,039$102,039
California$85,556$127,556
Colorado$77,926$119,926
Connecticut$66,918$108,918
Delaware$63,173$105,173
Florida$78,787$120,787
Georgia$75,162$117,162
Hawaii$62,581$104,581
Idaho$57,841$99,841
Illinois$57,570$99,570
Indiana$60,868$102,868
Iowa$61,659$103,659
Kansas$60,580$102,580
Kentucky$59,566$101,566
Louisiana$61,018$103,018
Maine$36,000$78,000
Maryland$67,383$109,383
Massachusetts$64,732$106,732
Michigan$81,925$123,925
Minnesota$50,250$92,250
Mississippi$57,651$99,651
Missouri$63,733$105,733
Montana$58,133$100,133
Nebraska$60,680$102,680
Nevada$76,938$118,938
New Hampshire$62,099$104,099
New Jersey$67,243$109,243
New Mexico$70,533$112,533
New York$71,434$113,434
North Carolina$58,928$100,928
North Dakota$62,257$104,257
Ohio$62,184$104,184
Oklahoma$49,852$91,852
Oregon$57,154$99,154
Pennsylvania$37,400$79,400
Rhode Island$63,231$105,231
South Carolina$60,705$102,705
South Dakota$58,240$100,240
Tennessee$48,563$90,563
Texas$66,371$108,371
Utah$65,209$107,209
Vermont$61,111$103,111
Virginia$71,313$113,313
Washington$75,264$117,264
West Virginia$58,559$100,559
Wisconsin$48,920$90,920
Wyoming$60,309$102,309

How Are Real Estate Brokers Paid?

We know that real estate brokers earn their income from two primary sources: a base salary and commissions. Let’s dive into exactly where the money in these categories comes from.

First, the income from a real estate broker’s salary is made up of the incoming revenue of the real estate brokerage—money that comes primarily from a portion of each of the commissions the agents within the office earn. This is commonly referred to as a “split.” A common split in the U.S. is 75 / 25, meaning that for every commission earned, the agent keeps 75% and the brokerage gets 25%.

Brokers and brokerages also earn money from charging monthly “desk fees” to their agents; this is a flat fee that is billed whether agents close sales or not. Though technically an income opportunity for brokers, most offices that charge a desk fee usually wind up using close to 100% of those fees for recurring costs like rent, utilities, technology tools, and so on.

Also, don’t forget that as a real estate broker, you still have the option to assist your own clients in the buying and selling process. So, if you are closing deals for your clients, as a broker you would get paid a commission for those transactions as well.

Reasons a Real Estate Broker’s Earnings Are So High (or Low)

After examining the table above and learning all about the median real estate broker salary in your state, and then getting a better understanding of how a real estate broker makes their money, you might be asking yourself, “Why is there such a variance from state to state?

Here are a few reasons.

Median sale price of homes: Since a lot of a real estate broker’s total compensation is based on commissions, it follows that states with higher average sale prices would yield brokers with higher average incomes.

The demand-to-broker ratio: Real estate markets where there is high demand vs the number of brokers in the area are going to yield higher average salaries. Take, for example, Green Bay, Wisconsin. In 2018, the median real estate broker salary was $110,820. The median real estate broker salary for New York City in 2018 was $115,950. The average sold price for a home in Green Bay was just over $175,000 in 2018, compared to an average sold price for a NYC home of close to $950,000.

Why did Green Bay brokers have nearly the same median as New York City brokers? Competition. In Green Bay, there were 30 real estate brokers operating, compared to 1,760 in New York City.

Some brokers buy and sell, some don’t: A real estate broker is able to represent their own clients in the purchase or sale of real estate, but they aren’t required to. Some brokers choose not to so they can focus on running their business and managing their team. However, other brokers choose to continue to represent clients, and these brokers tend to earn more money in direct commissions.

Real Estate Broker vs Agent Salary

Who makes more: real estate brokers or real estate agents? The answer depends on a number of factors. Brokers with a large brokerage and lots of agents often earn a very good living, especially if they’re representing their own clients as well. On the other hand, brokers who have a small shop and don’t do much direct client work are likely toward the bottom of the scale.

Real estate agent salaries are determined entirely by the number of transactions they close every year, so they can make as little or as much as the market will bear.

Thinking of Pursuing a Real Estate Broker’s License?

Real Estate Express logo

After our exhaustive research across dozens of real estate school reviews at The Close, we found that Real Estate Express is the quickest and most affordable way to pursue your broker’s license. Real Estate Express offers online classes to meet your prelicense class requirements, great test prep options, and all the information you need to set yourself up for success on your broker’s license exam right from your living room.

Visit Real Estate Express

The post The Average Real Estate Broker Salary for Every State appeared first on The Close.

]]>
https://theclose.com/real-estate-broker-salary/feed/ 4
How to Build a Brokerage Brand That Attracts Customers & Agents https://theclose.com/build-brokerage-brand-attract-customers-agents/ https://theclose.com/build-brokerage-brand-attract-customers-agents/#respond Tue, 25 Jan 2022 02:45:32 +0000 https://theclose.com/?p=24131 Eight years ago, my partners and I wanted to create a brand that communicated that our brokerage was boutique, current, and fun.

The post How to Build a Brokerage Brand That Attracts Customers & Agents appeared first on The Close.

]]>
Eight years ago, my partners and I wanted to create a brand that communicated that our brokerage was boutique, current, and fun. We spent thousands of dollars hiring a professional branding team to help us come up with the winning combination of name, logo, and colors for our brokerage. Lucky for you, I am a nerd and I took a lot of notes.

I’ll share the process that we followed to help you come up with the right branding for your brokerage. We’ll walk through the steps, including building a customer avatar, choosing a suitable brand name, and bringing it all together with a unique logo design, fonts, and a color scheme.

Build a Customer Avatar

Brown Harris Stevens Branding Promotional Materials

Have you heard the quote, “If you’re trying to please everyone, you will end up pleasing no one”? The same is true in branding. “If you’re trying to attract everyone with your brand, you will attract no one.” That’s why your name, logo, and colors must be designed to appeal to a specific customer.

You may think that creating a customer persona or avatar is a waste of time. Honestly, when I did this exercise the first time I felt the same way. However, after completing this exercise, I found that knowing clearly who my real estate brokerage was trying to connect with allowed me to let go of the desire to please everyone.

Begin by thinking about who your brokerage’s ideal customer is. Most brokerages’ main focus is attracting real estate agents. Because without agents, you don’t have a brokerage. However, some brokerages are specifically designed to attract homebuyers or sellers, like Colorado’s Buyer’s Slice Realty, which attracts buyers by offering a commission rebate.

[Related article: The 5 Employees You Need to Hire to Grow Your Brokerage in 2022]

Obviously, you don’t want to attract agents and repel buyers and sellers, so at some level your brand must appeal to both target audiences. Once you have determined who your ideal customer is, next you’ll want to ask yourself the following questions about your ideal customer. Your goal is to develop a mental picture of this person.

  • Where are they located?
  • What is their level of education?
  • What do they value?
  • What do they spend their money on?
  • What are their hobbies?
  • What are their interests?
  • What brands do they like?
  • Which famous people do they admire, and why?

Once you have a clear picture of your customer, you can begin to develop a brand that will attract them. You can start with your brand name.

Related Article
How to Start a Real Estate Brokerage in 2022 (Without Going Broke)

Choose the Right Name for Your Brokerage

Nooklyn logo brokerage name example

You want your brokerage name to be both original and memorable to attract customers. Later, your name choice is crucial if you decide to expand your brand into new areas. It’s also important when you decide to purchase your domain name and when you are registering your brokerage name and trademark with your state.

[Related article: Real Estate Domain Names: 15 Tricks Experts Use to Pick the Best]

You should keep your name short—one to three words max. If you use a truly unique word or name, include a subtitle to add some clarification. Apple didn’t start out as simply “Apple.” They started out as “Apple Computers.” You can do this too by adding a tagline like “Real Estate Services” or “Realty” to your name.

When we were coming up with our name, our marketing expert used the following exercise to get us to think outside the box:

1. Brainstorm. Using a large whiteboard, begin brainstorming by writing words that your ideal customer would be attracted to. Things like the city, neighborhood, or state you are in. Features that are familiar in the area like bridges, oceans, lakes, and mountains. Don’t overlook lifestyle activities that your avatar would enjoy, such skiing, surfing, or cycling. Don’t be shy—anything goes here. Write as many words as you can think of.

Continue by writing a list of words that are associated with housing and real estate. This can be words like door, cabinet, avenue, or loft. Keep writing until you have the entire whiteboard filled out.

2. Align. Now that you have a large list of words that will interest your customer avatar and a list that they will associate with real estate, you can begin to narrow the list. Do this by crossing off words that are not exciting to you and or that don’t align with your mission, vision, and values. From the remaining words, circle the top four words in each category to arrive at your eight favorites. Write these words on a separate paper.

3. Distill. Erase the whiteboard and write the remaining eight words in two columns, with the interest words on the left and the real estate words on the right.

4. Combine. Using the words on the board, combine the words on the left with the words on the right. Your goal is to come up with a unique and catchy name. Rich Barton, the founder of Zillow, wanted the name to be unique yet familiar. The name Zillow is a combination of the letter Z and the word Pillow.

Similarly, the real estate brokerage Trelora is a scramble of the word “realtor.” If you can, keep your name short and easy to pronounce. Extra points if you can come up with something unique.

5. Differentiate. The next step is checking to see if the name is already being used. Begin by Googling the word. Add variations like “real estate” and “realty.” Is it already being used in your area? Is it being used in another state?

Trade names are registered in each state. This is why you can have a “Smith Real Estate” in both New York City and Chicago, yet they are entirely different companies. If the name is already being used in another state, then you will have a hard time expanding that name state-to-state in the future.

Check to see if the domain is being used or if it is for sale. Zillow’s Barton said the best part of giving his startup a unique name like Zillow was that he bought the domain for only $12. If the domain is already in use or is more than a few hundred dollars, I suggest looking for a new name.

6. Translate. Thirty percent of the population speaks a language other than English. Knowing this, it isn’t a bad idea to run your new name through Google Translate to see if the word has a different meaning in another language.

Related Article
89 Creative Real Estate Company Names (+ Our Name Generator 2.0)

After spending six hours toiling over seemingly endless names, we came up with the brand name Steps. We chose Steps because as real estate coaches, we could teach agents the “steps” to become successful in real estate. Our agents can help buyers and sellers with the “steps” to buying and selling their home. Steps are also a feature in many homes, so we felt that customers can easily associate the name to housing.

Warburg Realty

After coming up with our real estate brokerage’s unique and memorable name, the next point of business was deciding if we would use a font or logo to visually represent our brand. We worked with a designer to create a logo to represent our newly branded brokerage.

When done correctly, fonts and logos allow customers to quickly identify your brand. They also help them to associate your marketing, whether it is open house signs, online advertising, or website. This allows your customers to build familiarity and trust with your brand.

Choose a Font

Hilton & Hyland Logo

Some companies spend thousands of dollars coming up with a unique logo, but the truth is you may not have to. Many successful brands, like Tiffany & Co, Coca-Cola, and eBay just use a font instead of a logo to represent their brand. A unique font and color choices can communicate sophistication, simplicity, and timelessness.

Begin by typing your brokerage’s name into a font generator website like Fontshop. These websites can show you what your brokerage’s name will look like in over 150 different fonts.

Don’t stop there. You want your font to be unique and stand out, so once you have selected your favorite font, purchase it, install it, and open it up in Adobe Photoshop or Microsoft Word. Using either program, you can select the same font and adjust the height of the letters and the spacing between the letters to give your brand name a new and unique look.

The downside to selecting a standard font to represent your brand is it may not be possible to copyright it since it isn’t a completely unique design. Therefore, if you wish to copyright your brand, you’ll need to make some changes.

For example, Tiffany & Co.’s font is based on the font Old Baskerville, with some minor changes so they could copyright their brand so it could not be used by another company.

Some companies, like Nike, use a specific font and logo together to create their brand.

Compass Logo

The ultimate goal of the logo is for it to be instantly associated with your company. However, designing an outstanding logo is far more complicated than selecting a font. This is why hiring a talented designer is crucial.

To help you come up with the best logo for your real estate brokerage, I wrote out some simple rules about logo design for you to follow.

5 Rules for Successful Brand Logo Design

1. Make It Easily Understandable. You want your logo and name to stand alone without explanation. This means if someone sees your logo, they can understand what it represents without you having to explain it to them. Brands like Target, Apple, and Nike do this well. Both Target and Apple’s logo represent the name of the company. Target is a simple target symbol and Apple is a one-dimensional apple with a bite out of it. A great example in the real estate industry is the Compass logo. Note how the “O” in Compass is stylized to look like a minimalist compass.

2. Be Unique. A quick Google search of real estate logos will show you endless images of brokerage names with an assortment of roofs, buildings, and skylines sitting above the name. While I think it is appropriate for your logo to represent housing, many of these images are overused.

How is a customer to separate you from the competition if the only differentiation with your brokerage brand is the pitch of the roof above your name?

Instead of a roof, try adding features to your logo that represent the type of housing you sell. For example, if you live in Brooklyn, NY, you could use the iconic shape of the front door of a brownstone in your logo. This is different and clearly represents both housing and New York with one simple image.

3. Don’t Distract. One of the biggest mistakes companies make is designing a logo that makes sense to them but not to their customer. This can create questions and confusion in the customer’s mind and prevent them from working with your brokerage.

One logo that comes to mind is a Japanese restaurant near me. Their logo used to look more like a toilet with the seat up than the traditional Japanese ramen bowl and lid. You can imagine the confusion this caused, preventing many customers from eating at this restaurant. Fortunately, they recently updated their logo to a more “appetizing” design.

You can avoid distracting logos by sharing your logo with friends, family, and past customers. Ask them the following questions.

  1. What does this logo represent to you?
  2. What values does this logo portray to you?
  3. What product does this logo sell?
  4. How does this logo make you feel?

Feedback can be difficult to hear, especially if you took hours coming up with the design. A little listening and understanding here can save you from having a toilet seat represent your brand!

[Related article: The Best & Worst Real Estate Logos (+ Pro Design Tips)]

4. Add a Tagline. It is easy to start daydreaming about your logo being immediately associated with real estate, but that’s not realistic because you’re not Apple… YET! In the beginning, consumers won’t immediately recognize your logo as a real estate brokerage.

As I said earlier, Apple didn’t start out as simply “Apple.” They started out as Apple Computers. So don’t worry about helping your branding along by adding a tagline like “Real Estate Services.” Like Apple, you can drop it later when your brand is better known.

[Related article: 107 Best Real Estate Slogans & Taglines (+ Slogan Generator)]

5. Hire a Pro. There are many service provider websites where you can hire someone to “design” a logo for your brokerage at a very low cost. I caution you that many of these providers reuse their designs over and over again. I found this out when a custom T-shirt logo I had someone create for me showed up on another man’s hat!

This can also make it nearly impossible to trademark your brand. If you are planning on growing your brokerage beyond your city or state, then I suggest spending the money to hire a professional graphic designer on a site like Upwork to help you create a logo that can be legally trademarked.

Steps real Estate Logo

Since our goal with our real estate brokerage was to grow it throughout our state and eventually into other states, we hired a professional graphic designer to help us with the logo design. After several renditions, we came up with our final font, logo, and tagline.

We felt the lower case font makes it memorable and friendly and the roof line incorporated into the “e” clearly communicates housing, but just in case, we added the tagline “real estate” in a traditional serif font. The next thing we needed to do was come up with the colors to represent our brand.

Choosing the Right Brand Colors

Red Oak Realty Poster

Customers associate company brand colors with emotions and values. Unspoken messaging like color can attract your ideal customers. No company knows this better than Tiffany & Co. Tiffany Blue or “Blue 1837,” named after the founding of Tiffany, has long been associated with vibrancy and escape. Their brand was designed to make the customer feel anticipation and delight.

If you don’t believe that colors say something about your brand … I ask you if you are willing to wear a gold coat to your next open house? (The older agents will get that joke!)

With your customer persona in mind, think about what emotions and values you want them to feel when they see your logo. Review the colors below and the associated emotions. Write down the three or four colors that are your favorite choices.

COLORASSOCIATED FEELING
BLUEWisdom, Loyalty, Spirituality, Respectability, Trust (Dark Blue)
GREENNature, Health, Tranquility, Harmony, Wealth and Money (Dark Green)
YELLOWFriendly, Cheerful, Youthful, Positivity, Happiness
ORANGEExcitement, Prosperity, Playfulness, Change
REDEnergy, Warmth, Comfort, Romance, Love
PURPLEAuthenticity, Truth, Luxury, High Quality (Dark Purple)
WHITEPurity, Youth, Charity, Cleanliness
BROWNNature, Reliability, Confidence, Friendship
BLACKPower, Strength, Glamour, Luxury
Two Color Wheels that depict correlating emotions associated with each color

Shades and patterns can also change the emotional impact that a color can have on a customer. From the three or four colors, adjust the shades and narrow them down to two or three colors until you find the ideal color combination that will proudly represent your brokerage.

The focus of our real estate brokerage brand was to be seen as a modern boutique brokerage. We wanted our customers to feel a sense of nature and harmony with the brand. We felt that the colors white, black, and sage green represented the brokerage as a fresh and modern company.

Steps Real estate Pomotions

The challenge we found was many sign companies did not have the capability of consistently recreating the correct “sage green” color and at times, we had real estate signs that ranged from lime green to an ugly greenish-yellow. Yet, I’m sure Tiffany’s & Co. has faced the same issue.

[Related article: 7 Things I Wish I Knew Before Starting My Real Estate Brokerage]

Bottom Line

An outstanding brand will not only attract your ideal customers but also the right agents to empower your brokerage to grow beyond your imagination! Take it from me, there are few things in life more exciting than seeing your real estate brokerage brand showing up around your city. Like seeing your child walk for the first time, if you find the right brand for your brokerage, it too will begin to walk on its own.

Of course, a great brand is only useful if your agents use it consistently in their marketing. To get your agents excited about your new brand, Lab Coat Agents Marketing Center creates stunning, professional templates for social media, print, signage, and more. They also offer an easy-to-use marketing app agents can use to customize their templates.

Visit LCA Marketing Center

The post How to Build a Brokerage Brand That Attracts Customers & Agents appeared first on The Close.

]]>
https://theclose.com/build-brokerage-brand-attract-customers-agents/feed/ 0
14 Expert Tips to Choose a Great Real Estate Domain Name (+ Name Generator) https://theclose.com/real-estate-domain-names/ https://theclose.com/real-estate-domain-names/#comments Thu, 06 Jan 2022 13:00:14 +0000 https://theclose.com/?p=3578 When it comes to choosing great real estate domain names, our friend Bruce Ailion is hard to beat.

The post 14 Expert Tips to Choose a Great Real Estate Domain Name (+ Name Generator) appeared first on The Close.

]]>
When it comes to choosing great real estate domain names, our friend Bruce Ailion is hard to beat. He was lucky enough to snag locationlocationlocation.com. But that was years ago and all the good domain names are taken now, right?

Not so fast. If you’re struggling to come up with a domain name, you can use the expert tips and free real estate domain name generator in this article to find one that will help you dominate your market for years to come. Here’s our best advice for a killer domain name.

1. Make Sure Your Real Estate Domain Name Is Memorable

RE/MAX Google reviews

Let’s face it—at some point in your career, people are going to ask you what your website is. If you want people to actually visit your site, you need to make sure the name is memorable.

A good rule of thumb here is to tell a friend or colleague what your domain name is and see what their reaction is. If their first response is something like, “What?!” then that’s a pretty good sign that you need to go back to the drawing board. If they can remember your domain name two weeks later, on the other hand, chances are you’ve got a winner on your hands.

2. Use Our Free Domain Name Generator

While there are a lot of sites out there that let you pick a domain name, very few of them offer good suggestions for other ideas when the name you want is taken. That’s why we built this free real estate domain name generator. Just plug in your name, your farm area, or both, and click generate.

Real Estate Domain Name Generator

Warning: The Domain Names produced by this generator were created by our team, but it is up to you to verify their available status.

You can keep Bluehost open in another tab and then copy/paste the names you like from the generator to see if they’re available. Bluehost is a great option to register a name and get $2.99 per month web hosting.

Open Bluehost

3. Add Action Words to Your Brand Name

Have a super-common name or brand name and need a .com? Don’t sweat it, get creative. That’s what Clever Real Estate founder Benjamin Mizes did. Since clever.anything was snapped up back in the AOL days, he decided to boil down his core goals and incorporate that into his domain name.

The result was listwithclever.com, a website with a domain that was easy to remember, catchy, used his brand name, and even better, managed to convey what he wants his visitors to do. List their properties with his company.

Pretty clever, right? If you want to do something similar, make a list of action words and short phrases that might work with your name or brand. List with, sell with, buy with, work with—use your imagination and you might snag yourself a real estate domain name that ticks all the boxes in this article.

[Related article: 89 Creative Real Estate Company Names (+ Our Name Generator 2.0)]

4. Don’t Worry About Using Keywords in Your Domain Name

The cold harsh truth about the almost religious promises that some marketers make about search engine optimization (SEO) is that they’re just wrong. Like, really wrong.

Ranking anywhere on Google can take years. Ranking on the front page for uber-competitive keywords that billion-dollar companies like Zillow are fighting for might never happen. That’s because Google doesn’t just look at keywords when ranking pages for a particular keyword. If they did, then the first result for every search would be “what you searched”.com. Instead, they use a complex algorithm that weights your website’s value based on how old it is, how much spam is on it, keywords, and how many other sites link to it.

So don’t stuff keywords into your domain name unless they sound good and make sense for your brand. Ranchhousesforsaleindallas.com doesn’t exactly roll off the tongue, does it? It also doesn’t provide Google users looking for ranch houses in Dallas the best answer either.

[Related article: How to Use Real Estate Keywords to Get More Leads From Google]

Don’t Give Up on SEO Entirely, Though

Don’t get me wrong—just because I’m saying (from experience) that ranking on Google for good keywords is difficult and will take work doesn’t mean you should just give up on SEO entirely. You should always follow SEO best practices on your blog and engage in PR to get backlinks. Just know that you have to be in it for the long haul for any SEO you do to pay off.

[Related article: Real Estate SEO: 11 Tips to Dominate Local Search & Get Free Leads in 2022]

5. Make Sure Your Domain Sounds Like a Professional Brand

One of the main goals of real estate marketing is to get your leads into an environment you can control. That’s why closings generally happen in a conference room rather than, say, someone’s living room. It’s also why getting people on the phone is way better than chatting on Facebook.

After all, if you can control the environment, you can subtly edge people into making a choice that leads to a desired outcome. Ideally, this is what your website is for. It’s an environment you can control and hopefully convince people to enter their contact info, or better yet, pick up the phone.

Of course, no one is going to trust an environment that doesn’t sound professional. You could have the best-designed landing pages in the universe, but if they’re on “johhny2222realtorzz.org,” then your leads might be (justifiably) leery about giving you their personal information.

[Related article: The Best Real Estate Branding of 2022 + Tips From the Pros]

6. Avoid Unique Spelling

Domain Is Available popup example

With so many good real estate domain names already taken, it can be tempting to add a funky spelling, or God forbid, a hyphen to your name. Unless someone literally has a gun to your head, you should resist this temptation at all costs.

You only need to think for a minute or so in order to understand why. It makes your name harder to remember, it doesn’t look professional, and it can lead to people confusing your site for another real estate site with a simpler name.

So if you come up with a clever domain name like reeeelestate.com, chances are people are going to miss an E and Google will suggest the obvious “realestate.com” instead. As a general rule of thumb, if someone needs you to clarify how to spell your domain more than once, it’s not a good name.

7. Think Twice Before Using Your Personal Branding as Your Real Estate Domain Name

While using your personal branding as your domain can work great, you might want to think twice before clicking on that “buy” button on Bluehost or GoDaddy.

After all, are you sure that the brand you came up with two months ago is going to work for you and your business six months from now? What about six years from now?

What happens if you expand your farm area? What happens if you end up moving? What happens if you start a team?

You can avoid the branded domain expiration date problem by choosing a brand that focuses on your name, general real estate terms, or better yet, a combination of the two.

“Joesmithsellsrealestate.com” will work anywhere you move, and for your entire career. “Joesmithsellsmiami.com” isn’t very practical if you end up moving to Colorado.

8. Choose a .Com Name, But Remember to Buy Out Other TLDs

Sadly, even though lots of well-intentioned people worked very hard to come up with new top-level domains (TLDs), pretty much everyone is still conditioned to see anything besides .com as inferior and maybe even untrustworthy.

That means you’re going to have to get creative if you want a .com domain name. For most people, the most creative combination of words they have is their names—unless you happen to be named something very common like John Smith. Then you’re going to have to get creative. Sorry! Hey, look, “johnsmithsellshouses.com” is available.

Once you buy your .com domain, always try to buy out the other TLDs of the same domain. This way, if someone types in the wrong TLD or you become so successful that rival agents buy up variations of your domain and hold them for ransom, you’re covered.

9. Make Sure You Can Get Twitter, Facebook & Instagram Accounts Under the Same Name

Using the same name on all of your Social media accounts

Even if you have a great domain name, asking your sphere to remember obscure social media account names with dashes and numbers is a little rude. Well, maybe not rude, but at the very least you will guarantee they don’t memorize your social media accounts.

Instead, try to come up with a domain that you can get social media accounts for. While it becomes increasingly difficult by the day, just keep it as a goal in the back of your head when coming up with domain names.

[Related article: How to Set Up a Real Estate Agent Facebook Page to Get More Leads]

10. Can’t Find a Catchy Real Estate Domain Name? Buy One.

OK, I know we said you can get a free domain name like five paragraphs up, but at the end of the day, you gotta do you. That means that if you’ve worked long and hard at creating the perfect brand you KNOW will kick butt online, then buying a real estate domain instead of getting one for free might make sense.

As an added bonus, you might be able to buy an old domain name that already has a link profile indexed by Google, which means you might start out WAY ahead of your competition for the front page! Doubtful, but possible.

Just make sure to kick the tires on any domain that you buy. Use a tool like Moz to make sure it does not have a high spam score on Google, has a decent domain authority, and isn’t loaded up with Russian bot spam.

11. Make Sure Your Domain Name Isn’t Taken on Google My Business

Google My Business mobile interface

Since you need to be THE local expert, one of the first things you should do before clicking yes on that new domain name is see if anyone else is using it locally.

While trademark law can be tricky, having someone else using your name in your farm area is a non-starter, no matter what the law says. Just think, people searching for your business will find theirs first, and unless you have some serious money to spend on SEO, that’s not going to change anytime soon.

12. Don’t Expect Your Website to Rank on Google Just Because You Include Your Farm Area

Want to know a secret most SEO companies will never tell you? A huge percentage of the work they do is based on nothing but guesswork. Even worse, a guess that might be right on Monday might not be right on Wednesday, and might even switch BACK again on Saturday!

So that means pretty much all of the “rules” that SEO experts swear by are the online equivalent of crossing your fingers and hoping for the best. Some guess better than others, but at the end of the day, they’re still guessing.

The biggest myth by far is that adding your local town name will help you rank on Google local searches. Again, there is no hard evidence to back this up. It might work, it might not.

So … should you or shouldn’t you? Well, if you can squeeze your town name in and it sounds professional and the result is easy to remember, then go for it. Of course, if the only way you can include it leaves you with a 60-character domain name with hyphens … yeah, not going to work.

13. Using the .Realtor TLD Will Not Help You Rank on Google Either

Searching for realtor domain name

Ever since it was introduced, the TLD (top-level domain name like .com, .net .org) .realtor has been hyped well beyond its sell-by date. Again, like with SEO, the idea that a .realtor domain name will help you rank on Google is about as true as claiming the earth is flat.

In fact, most experts agree that Google only really treats local country domains, like .uk and nonprofit domains like .org, differently than all the others. That said, others say that Google doesn’t treat ANY TLDs differently and only ranks sites by metadata or other information.

So use the .Realtor TLD for your domain name if (and only if) you like the way it sounds. You will probably not rank any better because you use it.

14. Make Sure There Are No Hidden Meanings in Your Domain Name

Unless your goal as a real estate agent is to make junior high school boys giggle, then you’re going to want to make extra sure there are no hidden meanings in your domain name.

While you may not be trying to make your clients blush with your domain name, sometimes when you take two perfectly innocent words and put them together … well, you end up with something not so innocent.

Here are a few notorious examples. Can you spot why they would make a roomful of teenagers burst into laughter?

Oh, and please don’t look up these websites. 🙉🙈🙊  They are here for instructive purposes only!

OddsExtractor.com
PenIsland.com
ExpertsExchange.com
WebOne.com
OldMansHaven.com
ThePenIsMightier.com
SpeedofArt.com
WausauFestivalofArts.org

Over to You

Have a tip for choosing a catchy real estate domain name that we missed? Let us know in the comments.

The post 14 Expert Tips to Choose a Great Real Estate Domain Name (+ Name Generator) appeared first on The Close.

]]>
https://theclose.com/real-estate-domain-names/feed/ 20
Sean’s 10 Best Real Estate Recruiting Strategies for Teams & Brokerages (+ Scripts) https://theclose.com/real-estate-recruiting-strategies/ https://theclose.com/real-estate-recruiting-strategies/#respond Sun, 05 Dec 2021 11:18:51 +0000 https://theclose.com/?p=24089 For more than 20 years, I have built and operated multi-million dollar brokerages.

The post Sean’s 10 Best Real Estate Recruiting Strategies for Teams & Brokerages (+ Scripts) appeared first on The Close.

]]>
For more than 20 years, I have built and operated multi-million dollar brokerages. I’ve personally recruited more than 600 agents in my career. You might be surprised to learn that I am not a fantastic recruiter—far from it. However, I’ve learned and developed real estate recruiting strategies that worked, and today I’ll share 10 of them to help you build your team or brokerage.

1. Pitch Prelicensing Students at Real Estate Schools

Real estate schools can be an outstanding resource if you’re looking for brand-new agents for your team or brokerage. The best way to recruit real estate agents at schools is to call them and offer to give a presentation in exchange for lunch.

Some online schools will even provide student lists—for a fee, of course! Use the scripts in the advertising section in this article to craft an email to elicit the best response.

If you’re able to secure a presentation, don’t be a cheapskate and bring $5 pizzas. The lunch you provide will represent the standards for your brokerage or team. Who wants to work for a company that isn’t willing to spring for a decent meal?

One hurdle you’ll face is that many students attending real estate school are not planning on becoming full-time realtors. That means you will need a way to target only the students who want to become full-time agents.

The key to sifting through the wanna-be’s and not-gonna-be’s to find the future superstars is to communicate clear guidelines about who you’re trying to recruit. You can use keywords and phrases in your presentation or pitch email to only target full-time agents. Here are a few I like to use to weed out the part-timers:

  • Full-time
  • Coachable
  • Learning-based
  • Growth-minded
  • Wants to earn over $100k a year

2. Get Referrals From Your Current Agents

Group photo of real estate agents

Who better to find the right agents for your team or brokerage than the agents you are already working with? It is easy to think that your agents will refer their friends already, but that simply isn’t the case. Your agents are (hopefully) busy, right?

Referring other agents to your team or brokerage probably won’t be top-of-mind for them. Of course, like getting referrals from your buyers and sellers, you just need to ask to receive. Begin by reminding your team how it benefits their career for the team or brokerage to grow. I usually say something like this:

“More agents mean more signs … and more signs mean more customer recognition. You want your customers to recognize our brand, right? Then we need to hire more agents!”

“I appreciate [insert a value they possess] about you. Can you think of another agent who is [repeat the value] like yourself that would be a good fit for [brokerage or team name]?”

“May I use your name when I call them today?”

It is also beneficial to incentivize your agents for their referrals. It doesn’t have to be a large incentive. A month’s free office bill or $200 after the referred agent closes their first transaction with the company should be enough.

Contests are also a great way to keep recruiting top-of-mind for your agents. Give away a $100 gift card to the agent who refers the most agents by the end of the month and $500 at the end of the year.

Related Article
7 Savvy Ways to Generate More Real Estate Referrals

3. Ask for Referrals From Vendors

Sean Moudry with Performance Coach Bruce Lund
Sean Moudry with Performance Coach Bruce Lund

An agent referral from a trusted vendor can be a powerful recruiting lead. Trusted vendors may include mortgage lenders, title representatives, home inspectors, home warranty providers, and property insurance agents that you know and trust.

These vendors want access to your agents to promote their services to your brokerage or team, so it won’t seem out of place to ask them to support your recruiting goals. Additionally, some agents will share their dissatisfaction with their current brokerage with their vendor friends.

The next time a vendor approaches you to sponsor a team meeting or ask you to lunch, flip the script! Tell them you are happy to discuss a mutual referral relationship. Set a meeting with them to share your brokerage or team’s vision, values, and recruiting goals. Ask them if they are willing to discuss the opportunities to work on your team or brokerage with other agents who may be unhappy where they’re at and looking for a change.

4. In-person Networking Events

INMAN Connect Las Vegas

Instead of attending REALTOR events to learn about the latest software, use these as an opportunity to network with agents. In-person networking is a great way to find the right agents for your team or brokerage.

Your local Association of REALTORS hosts educational, social, and marketing events. While directly recruiting from the events is not permitted, it is an excellent opportunity to network with your fellow REALTORS.

You can invite the agent to a more formal discussion outside the REALTOR event when you meet an agent who wants to join your team or brokerage. Here is a four-step script of recruiting questions I use to get agents to meet with me:

The Four-step Real Estate Recruiting Questions Script

STEP 1

“What was your sales goal this year?”

They will typically say a number between 24 and 36 homes.

STEP 2

“Are you on track to reach your goal?”

The average REALTOR sells 10 to 12 homes a year, so they are most likely behind on their goal.

STEP 3

“What do you believe is preventing you from reaching your goal?”

Most agents will say that lackluster marketing or lack of lead generation prevents them from reaching their goals.

STEP 4

“Would you like to meet to discuss how you can get back on track?”

Set a meeting at your office to discuss how your team or brokerage can help them achieve their goals.

5. Host a Top-producer Mastermind Group

two women having fun discussion

Top producers love high-level conversations with other top producers. This is why joining or running your mastermind group is a great way to recruit new real estate agents.

Begin by selecting an interesting topic like the challenges of low inventory or social media best practices. Invite one top producer from each real estate brokerage brand. Your goal is to keep it small at just six to eight people, including yourself. When you call, tell them that you are hosting an exclusive Top Producer Mastermind group and you would like it if they could attend to represent their brokerage.

Host the Mastermind at a local, high-end restaurant. Ask for a private room if they have one available. Plan the event for late morning or after lunch, so you are not expected to pay for meals or alcohol.

At the meeting, you MUST take the lead and guide meaningful conversations about the topic. Have someone take notes that you will share with attendees after the event.

Listen for opportunities to follow up with each agent. If they are having challenges with social media, then let them know that you are happy to sit down with them one-on-one to help them to create a social media marketing plan.

Before you are finished, don’t forget to schedule the next Mastermind and topic for the following month!

Related Article
9 Real Estate Mastermind Groups Every Agent Should Join Today

6. Pitch Cooperating Agents

Cooperating, or co-op, agents have a unique perspective since they recently transacted with your team or brokerage. Assuming the deal went smoothly, they are sure to have a positive response to you inquiring about the transaction. If things went poorly, they will be impressed that you are calling for their honest feedback.

Either way, co-op agents are another excellent source of recruiting leads. Here is a quick script I use to schedule meetings with co-op agents:

Co-op Agent Script

“Hello, this is [your name]. You recently had a transaction with [your agent] on [address]. I am calling today to ask how the transaction went. We strive to be the most professional agents in the industry.”

“May I ask, is there anything that we could have improved upon to make this transaction better?”

The key here is to listen to their honest feedback. No matter what they say, don’t get defensive. Once you feel you have received the feedback from the transaction, pivot the conversation to their business by asking them The Four-step Recruiting Questions we discussed previously.

Related Article
Real Estate License Reciprocity & Portability: A State-by-State Guide

7. Slide Into Their DMs on Social Media

photos of Real estate agents from social media

Some agents are very active on social media sites like Facebook, Instagram, Pinterest, and TikTok. This gives you an excellent opportunity to start a friendship online and invite them to meet in person later.

Start by selecting 10 to 20 agents you are interested in getting to know better. Friend and follow each agent. On Facebook, you can create a Custom Friends List to keep them organized.

The secret is to be observant of their activities. Like and comment on their posts, so they begin to familiarize themselves with you. Once you feel comfortable that they know who you are, you can connect with them via Instant Messenger (IM) or Direct Message (DM).

Here is a script I use for recruiting on social media:

DM After They Post Something Creative

“Hey [their name]. I saw your post on FB, and I was impressed. I love creative social media marketing ideas. I have some creative marketing ideas of my own that I would be happy to share with you. Would you be interested in meeting to discuss?”

DM After They Post a Listing Ad

“Hey [name], I saw your ad for your listing on FB. It’s a great listing! Do you sell most of your homes in [area]?”

“Yes.”

“Are you interested in getting more listings in [area]?

“We are looking to invest in a few agents to help them grow their business in [area]. Would you be interested in meeting to discuss?”

8. Run Classes, Events & Seminars

Run Classes, Events, and Seminars

A tried-and-true way to recruit agents to your team or brokerage is to hold classes, events, and seminars. These allow agents to learn about your knowledge, culture, and values while also providing essential training to your team or brokerage.

If you’ve never run a training before, here’s a quick rundown of the process: First, reserve a space in your building or a vendor’s off-site location. It doesn’t need to be huge, just big enough to hold 20 to 30 people. This will be large enough to have 10 to 15 agents from your team or brokerage and 10 to 15 guests. Ask a vendor to provide snacks and water for the training.

Next, select a topic that will interest the agents you wish to attract to your team or brokerage. While continuing education classes are essential, I have found that the dry topics don’t draw the type of agents I want for my team or brokerage. Here is a shortlist of “Hot Topics” that will attract motivated agents who want to grow their real estate businesses:

Hot Topics for Classes, Events & Seminars

  1. Social Media Marketing Plan
  2. Facebook Ad Strategies
  3. Real Estate Investment Strategies
  4. Real Estate Business Planning
  5. Top Producer Panelist Discussions

Prepare to speak about one of the Hot Topics for 45 to 90 minutes. It is best practice for you to present the information. This will position you as the expert and guests will be more likely to meet and speak with you afterward. The best way to organize the information is the What-Why Presentation Format.

What-Why Presentation Format:

  1. What is the challenge or problem?
  2. Why is it important to them?
  3. What will happen if they don’t address it?
  4. Why is it a complex problem to solve?
  5. What results have you got to solve the problem?

Notice in the What-Why Presentation Format that we don’t share “HOW” to solve the problem with them. This is because the solution isn’t that easy, or they would have resolved it already, and they are not likely to fix the problem on their own. They need your help.

Instead of giving them the solution, provide them with a reason to meet with you!

Here is what you say:

“We don’t have time to cover the entire solution today, so if you are interested in solving [challenge or problem], I’m happy to meet with you one-on-one. I have my calendar here, and I will schedule a time with you today.”

9. Open Houses

Open House

As a recruiter for your team or brokerage, you probably wish there were a place to go every week to meet productive agents. Well, there is—open houses! Attending open houses and broker opens each weekend is one of the easiest and most efficient ways to build relationships with active and producing agents.

You can follow my simple plan and script to meet agents at open houses.

Open House Recruiting Procedure & Script

  1. Each week, do a quick search for upcoming open houses or broker opens in your area.
  2. Send the agent an email letting them know you will be stopping by to preview the listing. This will make your introduction easier when you’re at the open house. Additionally, if the open house is busy, it gives you a reason to follow up later to provide them with feedback.
  3. Map the open houses to save drive time.
  4. Spending 10 to 15 minutes in each open house, just long enough to preview the property and have a quick conversation with the agent.
  5. After a short, friendly conversation with an agent, ask them the following questions:

“Do you sell most of your homes in [area]?”

“Are you interested in getting more listings in [area]? We are looking to invest in a few agents to help them grow their business in [area]. Would you be interested in meeting to discuss?”

10. Help Wanted Ads

ZipRecruiter Homepage

A simple and efficient method of finding real estate agents for your team or brokerage is placing help wanted ads. Websites like ZipRecruiter, Career Builder, and Indeed are excellent resources for finding talented people looking to make a career change. What I like about websites like this is that you can promote your ad to keep it at the top of the prospects’ search.

Craigslist, on the other hand, costs less than other job search websites, but your ad will quickly fall to the bottom of the help wanted ads. Therefore, you will need to post your ad more frequently to keep it top of mind. I have found that posting twice a week, on Monday and Thursday, generates the best results.

Here is a copy of my top-performing help wanted recruiting ad:

Help Wanted Agent Recruiting Ad

We Are Hiring Real Estate Agents! We Offer Real Estate License School and Sales Training! [Company] is a gathering place for [area’s] best talent. This first-rate market center features a state-of-the-art training room and a friendly atmosphere you’ll recognize the moment you walk through the door. As one of the fastest-growing real estate offices in one of the fastest-growing marketplaces, [Company] is a hot spot for agents looking to rapidly and organically grow their career.

We are hiring because our sales are up a BLISTERING 200% over last year! We need help! Hardworking, motivated agents who want a great opportunity!

  • Earn a six-figure income
  • Work your own hours
  • Fun work atmosphere
  • Free training and support
  • No previous experience necessary
  • In-class and online real estate school
  • Low cost to start!

Already in real estate school? Please interview with us!

We’re looking for people who are:

  • Positive and friendly
  • Learning-based
  • Want to increase their business
  • Willing to work hard

What’s next?

When you’re ready to begin the journey, fill out the contact form found on our website.

If you haven’t already, take a few minutes to read my Ultimate Guide to Recruiting before trying any of these strategies or scripts. I review how to align your recruiting goals with your Mission, Vision, and Values, how to decide which agents to recruit at every growth stage, how to attract those agents to your team or brokerage, and more.

Bottom Line

Real estate recruiting is an essential practice for any real estate team or brokerage and having a clear plan for how you’re going to attract the right people is the first step. The 10 recruiting strategies I’ve shared here are proven ways for you to grow your team or brokerage. It’s just up to you now!

The post Sean’s 10 Best Real Estate Recruiting Strategies for Teams & Brokerages (+ Scripts) appeared first on The Close.

]]>
https://theclose.com/real-estate-recruiting-strategies/feed/ 0
Real Estate Branding: How to Build Your Brand (+ Case Studies) https://theclose.com/real-estate-branding/ https://theclose.com/real-estate-branding/#comments Sun, 24 Oct 2021 10:00:49 +0000 https://theclose.com/?p=1798 If you’ve spent any amount of time trying to come up with great real estate branding, you’ll eventually reach one conclusion: Building a brand is HARD.

The post Real Estate Branding: How to Build Your Brand (+ Case Studies) appeared first on The Close.

]]>
If you’ve spent any amount of time trying to come up with great real estate branding, you’ll eventually reach one conclusion: Building a brand is HARD. Like, really hard. If you want to build a brand that lasts, you’re going to need some help.

That’s why we decided to put together this ultimate guide to real estate branding for 2022. We review a step-by-step formula for building a memorable brand, give you some case studies of great real estate brands and explain why they work, and finally, we offer you branding tips from industry experts.

Download Your Free Branding Guide

What Is Real Estate Branding?

Real estate branding is a strategy that realtors and brokerages use to communicate their mission, vision, and values to a target audience. The core components of a brand generally include a logo, tagline, brand colors, mission statement, and overall design language. A great brand helps consumers stand out from the competition and can help increase sales.

How to Build a Real Estate Brand That Lasts: A Step-by-Step Guide

Believe it or not, the process that marketing professionals use to build a brand is very simple. Don’t let the simplicity of the process fool you, though—branding takes hard work, and many startups struggle from the first step. If you’re ready to take branding seriously, here are the steps you need to take:

1. Discover Your Mission, Vision & Values

Mission, vision, and values (MVV) are at the core of every great brand, whether they know it or not. So if you want to build a brand, you need to take the time to discover your MVV.

Read Sean Moudry’s deep dive article about how to define your MVV. While it was written for brokerages, it will work for agents too.

[Related article: How to Create an Inspiring Mission, Vision & Values for Your Brokerage]

2. Gather Inspiration From Successful Real Estate Brands

After you’ve nailed down your MVV, the next step to building your brand is to study great real estate brands for inspiration. Start by gathering branding elements of local agents and brokerages you’ll compete with, then branch out to franchises or even brands that are outside of the real estate industry.

The best way to organize branding inspiration is to create a “swipe file.” Gather brand elements that you like into a centralized file. When you’re done, you should have a compilation of logos, taglines, brand colors, social media posts, website screenshots, and any other brand elements that inspire you. Now when you hire a graphic designer to work on your logo, you can simply send them your swipe file for creative direction.

Here are some valuable resources to get you started:

3. Create an Actionable & Realistic Timeline

That which gets measured gets improved. It can take years to build your brand, but creating a timeline with realistic goalposts to reach along the way is a crucial step in this process. The idea is to turn building a brand from a “wouldn’t it be great!” daydream into a concrete plan.

Setting monthly and quarterly goals will probably give you enough pressure to keep you motivated, but not overwhelmed. Just remember that like most long-term projects, building a brand will probably take longer than you think it will. However, if you give yourself enough time to build your foundation with a solid MVV, the rest of the process should go relatively quickly.

Here is a sample brand building timeline starting on January 1:

Branding ElementDeliverableDue date
Mission Vision & ValuesMVV Statement2/1/2022
Inspiration Swipe FilesLogo swipe file, slogan swipe file, social media swipe file3/1/2022
Find a Freelance Graphic DesignerFreelance offer4/1/2022
Completed LogoPrint and JPG logo files5/1/2022

4. Choose the Right Team of Professionals to Turn Your Vision Into Reality

Maxa Designs

They say if you give a mediocre team a great idea, they’ll screw it up, but if you give a mediocre idea to a great team, they’ll make it work. This is why hiring the right professionals to help turn your brand’s vision into reality is crucial.

In the real estate world, that means hiring professionals who know real estate. Maxa Designs is the industry leader that helps brokerages turn their branding dreams into reality.

Visit Maxa Designs

Case Studies: The Best Real Estate Branding

Now that you have an idea of what you’re up against, here are case studies of our picks for the best real estate branding.

Real Estate Branding CategoryOur Picks for 2021
Best Overall Real Estate BrandingBrown Harris Stevens
Most Creative Real Estate BrandingHalstead
Boldest Real Estate RebrandCentury 21
Most Controversial Real Estate RebrandColdwell Banker

Best Overall Real Estate Branding: Brown Harris Stevens

Founded in 1873, luxury New York City brokerage Brown Harris Stevens’ branding has always been synonymous with luxury, exclusivity, and the level of white-glove service that goes along with it. The only problem was that the very idea of luxury has been morphing into something that outpaced BHS’ lovely, but dated branding.

Instead of stately limestone mansions or classic pre-war apartments with maze-like floor plans, luxury in today’s Manhattan includes 90-story high glass towers, former manufacturing spaces in SOHO, and even bolder and more varied properties in Brooklyn, Queens, and beyond. BHS had to find a way to make their brand appeal to the cool kids.

Taking such a well-respected (and valuable) brand into the 21st century required the tact and skill that only an experienced branding agency like New York City’s Pentagram could pull off.

Brown Harris Stevens’ Branding: Logo & Tagline

One of the most difficult challenges in branding is coming up with a logo and slogan that work so well together that one immediately conjures up the other. The logo and slogan Pentagram created for BHS is the ideal of a great logo/slogan combination.

The typography is deceptively simple and immediately brings to mind high-end professional services. It wouldn’t look out of place as a logo for a hedge fund or law firm.

Stacking the logo rescues the brand from the Achilles heel of versatile logos—length! As someone with an 18-letter long first and last name, I can empathize here.

The slogan “Bold, Honest, Smart” came from interviews with BHS’ management and agents and represents the unique qualities that set BHS agents apart from the 40,000 other agents in New York City.

Fitting those qualities into an acronym for the brokerage was an inspired stroke of genius. It acts almost like a mnemonic device to help people remember the slogan AND picture the logo—perfect!

Brown Harris Stevens’ Branding: Online Presence

Pairing the subtle light grey and bold orange accents for BHS’ logo and color theme translates perfectly to the online world. As you can see above, the colors work perfectly on the saturated high-resolution images of properties that lure in BHS clients.

The stacked logo and tagline are also very versatile and easy to place in many different layouts. BHS’ branding calls for a spare, minimal layout that is easy on the eyes and, more importantly, easy to scan on pages with a lot of information.

Brown Harris Stevens’ Branding: Yard Signs

Although yard signs are fairly uncommon in New York City, this mockup yard sign looks amazing and will work perfectly in Westchester and other suburban locations BHS’ serves.

Brown Harris Stevens’ Branding: Promotional Materials

Perhaps most impressively, Pentagram’s branding work for BHS translates perfectly to promotional materials as well. Above, you can see how great it looks on a bright orange tote bag. It’s not hard to imagine how great it would look on everything from bags, umbrellas, pens, calendars, or anything else high-end realtors use as promotional materials.

Brown Harris Stevens’ Branding: Printed Materials

When you see BHS’ branding in print, the choice of bold, bright orange makes a lot more sense. Orange is the perfect color for a call to action, and as you can see above, it immediately draws your eye like a laser beam. Bold, simple, easy-to-read typography rounds out the greatness here.

Their gorgeous brochures are no exception. The grey, white, and orange color theme looks fantastic. Ditto for their business cards and stationery. Check out how the designers swap the orange highlight color between the slogan and logo on the back and front of their business cards.

Brown Harris Stevens’ Branding: Retail Building Signage

The outdoors is an even more challenging test for color themes and real estate branding. Like it does with every other application, BHS’ branding passes with shining colors.

The orange is a very eye-catching highlight color for a white brick building, and the stacked logo on the sign and the initials on the door both look, well, perfect. It looks hip and cool, but also obviously high-end.

Most Creative Real Estate Branding: Halstead

Although they’re nowhere near as old as a brand like Brown Harris Stevens, New York City’s Halstead works in the same rarified luxury market that BHS does. Their branding was also similarly stodgy, stilted, and dated. It might have looked cool and cutting-edge in 1991, but today, it’s seen a colorful upgrade.

Halstead Branding: Logo & Slogan

Above you can see their old green brand mark, as well as the new bright bold, creative brand mark and logo, as well as a quick glimpse of how it looks both alone and in print on business cards, stationery, and brochures.

How does it look? Well, to our eyes, it looks pretty great. It’s bold, brash, and playful, but still manages to convey luxury. If anything, this real estate branding might even be a few years ahead of the game. I can imagine many more brands embracing this bold, colorful look to stand out in crowded markets.

Halstead Branding: Color Themes for Different Markets

One of the most incredible things that Halstead’s branding agency Pentagram came up with was using a variety of bright, happy colors to represent the various markets that Halstead works in. This is a great way to represent the many varied neighborhoods they work in without sacrificing the core branding.

Above, you can see how these colors work with the typography and taglines used for this campaign: “Move to What Moves You,” “Bold Moves for Bold People,” and “Getting You There.”

Halstead Branding: Printed Materials

As you might imagine, the “H” brand mark and logo look fantastic in print as well. Check out the envelope and folders above. I love how they took the brand mark and made a cool-looking pattern out of it. I could almost see this working as a custom tile job in one of their offices.

In the magazine spread, above, they’re using nothing but color, language, and typography to send a message, and it comes in loud and clear. That’s what great real estate branding is all about.

Halstead Branding: Yard & Other Outdoor Signage

Where these bold colors truly pop is in the real world. There’s nothing quite like a pop of bright, cheerful color to draw your eye on a crowded Manhattan sidewalk.

Halstead Branding: Promotional Materials

It even works for promotional materials. How cool are their tote bags? In a few years, this color and pattern will become synonymous with Halstead and high-end real estate.

Boldest Real Estate Rebrand: Century 21

When it comes to real estate, Century 21’s brand recognition is hard to beat. For many people around the world, Century 21 is synonymous with real estate.

As the brand grew into the globally dominant giant they are today, it got a bit diluted and stagnated. They kept the same ’70s logo seemingly for decades, with almost no update.

Like the other two brands we crowned as the best real estate branding, Century 21 decided not only to change but use the same bold vision they did when inventing their brand in the 1970s.

That meant burning it down and building a new brand from the ashes and whatever traces of the old brand that survived the fire. Amazingly, the brand’s very soul survived that fire.

Century 21 Branding: Logo

Since we already have an in-depth article that goes through the new Century 21 branding nuts to bolts, we’ll save our regular readers the time and summarize what we’ve said there. In short, they hit this one out of the park. They managed to not only come up with something bold and elegant—but something that doesn’t necessarily banish them to the “luxury realtor” space.

It’s easy to imagine Century 21’s new logo looking just as good on a $12 million Malibu mansion as it does on a starter home in Ohio. No mean feat. Even better, their brand mark is strong enough to stand on its own, and should one day become as widely recognized as the logo itself. They even created a fun pattern, like Halstead did.

Century 21 Branding: Yard & Outdoor Signage

While they sure don’t pop with color as Halstead’s signs do, their yard signs look pretty great. After all, not everything has to be bold and brash. The outdoor signs look great as well.

Century 21 Branding: Printed Materials

Going with the same gold and black color theme of their previous branding, they took their printed material to the next level. The logo, brand mark, and typography all work together. Hopefully, they’ll issue agents strict branding guidelines! Their business cards also work perfectly.

Century 21 Branding: Promotional Materials

I’m not sure what it is with tote bags and killer real estate branding, but these examples from Century 21 are ticking all the boxes for us. Elegant, not too pretentious, these are the kinds of tote bags you keep AND use.

As you can see from the fantastic transformation of Century 21’s iconic branding, regularly auditing and assessing your brand as your company grows is crucial. If you’re curious about learning more, check out Criterion B’s article Rebrand Refresh: The Importance of Auditing and Assessing Your Brand.

Most Controversial Real Estate Rebrand: Coldwell Banker

When it comes to iconic real estate brands desperately in need of rescue from the Saturday Night Fever era, Coldwell Banker was always right up there with Century 21. Even with some of the most prestigious names on their talent roster, Coldwell has always stuck with the Betamax logo in a Netflix world.

Just looking at the numbers, it would be absurd to say that the old-school logo has lost them any market share, but with the recent successful rebrand of Century 21 and even RE/MAX, Coldwell must have been under immense pressure to keep up with the Joneses.

Judging from the cold reception to the new brand on social media, we can’t help but think they should have left it alone, or at least pushed for a few more revisions, a few more logo choices, or better yet, return to the drawing board and start over.

The problems seem to start at the concept stage and then spiral out from there. The brand mark with the C/B monogram and “North Star” to represent their consistency in the real estate world is pretty good. There’s a lot to like here, and with a few minor tweaks, it could be great.

The problems creep in when the actual company name is added. It seems to exist almost as an afterthought to the brand mark, as if they wanted the brand mark to live a life of its own, like the Rolex crown or Apple’s bitten apple.

Instead, something just feels off when the two are combined. It’s not easy to say why. The font choice for the logo itself is excellent; the brand mark looks pretty cool, but together …

Of course, initial reactions are always harsh, especially with a brand as iconic as Coldwell Banker. The more we look, well, the more it grows on us. For example, the cufflink rendering above actually looks pretty great. Maybe this one will have to live out in the world for a little while before we come around.

Tips From Real Estate Branding Experts

Now that you’ve seen our picks for the best real estate branding, here are some words of wisdom from real estate branding experts for building your brand.

Paige Arnof-Fenn’s Tips for Building a Strong Real Estate Brand

Paige Arnof-Fenn, Founder & CEO Mavens & Moguls

Paige Arnof-Fenn“A brand is a promise in the hearts and minds of their customers of a consistent experience with the product or service. Here are a few tips from my experience on how to build a strong brand:

  • Be original. What makes you unique or special?
  • Be creative. How do you want people to think and feel after interacting with you vs your competition?
  • Be honest. Let your brand be known for speaking the truth, and you become the trusted advocate and go-to source.
  • Be relevant. Brands aren’t created in a vacuum.
  • Be consistent. Develop a cohesive message, and live it every day.
  • Be passionate. Everyone loves to work with people who are passionate about what they do; it makes life much more fun and interesting.”

Shannon Riordan’s 3 Rules to Great Real Estate Brands

Shannon Riordan, Partner and Co-founder, Global Brand Works

Shannon Riordan“For a real estate brand to be great, it must be three things: Authentic (don’t just say what you are, be what you are), Differentiating (know your ‘secret sauce’ and leverage it), and Relevant (offer something that your audience wants and needs).

Real estate agents are building personal brands whether they intend to or not. Creating a strong personal brand is essential for success as a real estate agent. To do that, the same rule applies: understand what you do offer (authenticity), you need to understand the competition (differentiation), and understand what the marketplace out there wants (relevancy).”

Curaytor Co-founder Chris Smith’s 7 Steps for Establishing Your Real Estate Brand

Chris Smith, a USA Today bestselling author and co-founder of Curaytor

Chris Smith“There are seven steps for establishing your brand. First, establish a purpose. Then, you need to be consistent with fonts, colors, verbiage, and so on across all collateral.

The third step is emotion—your brand should make people feel something. Fourth, be flexible in the things your brand can do. Employee involvement is step five. Employees are critical to helping companies determine what a brand is.

No. 6 is loyalty. You have to invest in your customers—think handwritten notes or customer appreciation events—because you build a brand around loyalty.

The last step is competitive awareness. Watch the brand you admire the most and figure out how you can adapt some of their tactics while staying true to your brand.”

Over to You

Are you struggling with real estate branding, or have an insider tip you think can help our community of 400,000 realtors? Let us know in the comments.

The post Real Estate Branding: How to Build Your Brand (+ Case Studies) appeared first on The Close.

]]>
https://theclose.com/real-estate-branding/feed/ 32
89 Creative Real Estate Company Names (+ Our Name Generator 2.0) https://theclose.com/real-estate-company-names/ https://theclose.com/real-estate-company-names/#comments Wed, 06 Oct 2021 09:00:31 +0000 https://theclose.com/?p=1992 I don’t think anyone here would be shocked if I said that most real estate company names these days are boring at best.

The post 89 Creative Real Estate Company Names (+ Our Name Generator 2.0) appeared first on The Close.

]]>
I don’t think anyone here would be shocked if I said that most real estate company names these days are boring at best. So before you name your real estate company “Superior Realty,” check out our 89 examples of great real estate company names.

You can also avail yourself of our free real estate company name generator, review our 9 rules for choosing a great real estate company name, and read advice from five real estate branding experts. We hope these resources help you come up with an unforgettable name that expresses your brand.

89 Real Estate Company Names

Now that you (hopefully) know that naming your real estate business is important, here are 89 real estate company name ideas to help get the creative ball rolling. Please note that these are just ideas we came up with, so some might be real companies! If none of these inspire, use our real estate company name generator below the list.

Equitable Property GroupApogee Property AdvisorsLandmark Realty Group
Brick Lane RealtyBanyan Tree RealtyGranite Real Estate
Cobblestone Realty PartnersDriggs RealtyPinnacle Real Estate
Picket Fence RealtyMagnolia Group Real EstateBlue Reef Properties
Sterling Property AdvisorsCardinal RealtyHaven Group Real Estate
Carpe Diem RealtyForward Real Estate AdvisorsSeekers Realty
Home & Hearth RealtyCitadel Partners RealtyShipwright Realty
Bond & Main Real Estate GroupPrivet Group Real PropertySiren Partners Real Estate
Stellar Property AdvisorsCorsair Real EstateBluebell Real Estate
Bold RealtyBeacon Homes LLCLarkspur Partners Realty
Excelsior Real EstateWeathervane Group RealtyAgile Real Estate Group
The Viola GroupEchelon Private Client RealtyNestled Real Estate
Sequoia Real EstateBlack Oak RealtyFortune Team
Barrow Street RealtyFinders Group Realty LAFound Property Group
Orchard Street PropertiesLamplighters RealtyRise Real Estate
Blue Sky RealtyAdobe Property AdvisorsStrive Partners Realty
Silverbell RealtyPagoda Partners RealtyHerringbone Realty
Broadleaf HomesCapstone RealtyFlow Group Real Estate
Acuta Real EstateKeystone Group Real EstateBottom Line Realty
Summerwood GroupBlue Slate RealtyClosers Group Real Estate
Anchor Group Real EstateRed Coral RealtyPilot Property Group
Apogee Property AdvisorsGolden Meadows Property GroupTitan Real Estate
Axis Group Real EstateSunstone Property AdvisorsLighthouse Group Real Estate
Equinox Partners Real PropertyFull Circle Real EstateSummit Properties
Nova Group Real EstateJasper RealtyCatbird Estates
Lark HomesPlatinum Property AdvisorsFox Run Real Estate
Equinox Realty AdvisorsCottonwood Real EstateZenith Estates
Champion Real Estate AdvisorsSovereign RealtyPartisan Realty Advisors
Devoe PartnersFive Star Real PropertySeamless Property Advisors
Olive Tree RealtyDivine Nooks

The Close’s FREE Real Estate Company Name Generator 2.0

Since every single branding expert we talked to said the more real estate company names you come up with, the better, we decided to build this real estate company name generator to help you get started.

Generate Your Name

Chose a name format

Warning: The company names produced by this generator were created by our team, but it is up to you to verify trademark status.

8 Rules For Great Real Estate Company Names

So by now you probably have a handful of names that you’re considering for your business. How do you choose THE name? Simple. Take the advice of people who have spent years branding companies and making the hard decisions that built great brands.

Download Your Free Real Estate Branding Guide

Since I have years of experience in real estate branding, I’ll get the ball rolling, and then we include some advice from some of the top branding professionals in the industry.

1. Avoid Puns, Pop Culture References & Cliches

Highclere Castle (Downton Abbey)

There’s a real estate company here in Brooklyn that for some inexplicable reason decided to name themselves after a world-changing, but now defunct social media platform. I won’t name names, but let’s just say it rhymed with pie face.

Keep in mind this was well after the platform’s long slow decline, and sure, it has a second meaning that works for real estate. OK, clever enough, but now they’re stuck with it.

I genuinely don’t think they ever thought they would be as successful as they are today. Seeing their name on a massive banner on exclusive new developments is more than a little odd. The cognitive dissonance makes most people pause for a second before asking something like, “You mean like the website?”

Even worse, while you and your friends might think your pun is hilarious (and as pun aficionados, we’d probably agree), will everyone find it clever? The answer, of course, is no. Many, many people, especially those who can make or break you with one deal, might find it cloying and unprofessional. So do yourself a favor and avoid using puns or cliches in your name.

2. Claim Your Social Media Accounts, Buy Your Domain & Build Your Website ASAP

Of course, as you might have already guessed, competition for online real estate is fiercer than the hottest seller’s market. That means you need to pull the trigger and get your social media accounts, domain name, and website as fast as humanly possible. For your website, you can buy a domain and hosting and throw up a placeholder “Coming Soon” page in less than five minutes.

Related Article
14 Expert Tips to Choose a Great Real Estate Domain Name (+ Name Generator)

3. Pay Attention to How Your Company Name Sounds When Spoken Out Loud

One of the most important elements of the best real estate names is how they sound in the real world. Your name may look great on paper, but how will it sound when a former client is talking about your company over lunch with a friend? Will it be easy to pronounce and understand? Will it sound strong or weak? Professional or unprofessional?

One of the best ways to do this is to write down your name on a card and see if your friends, co-workers, and even strangers can pronounce it quickly and easily. Does it roll off the tongue or do they stumble trying to say it? Ask them if they like it or what it makes them think of without telling them it’s a real estate company.

4. Acronyms Matter, Especially for Longer Names

long real estate company names

Using an acronym as a stand-in for your name can be surprisingly useful. Which company sounds like they make cool laptops, IBM or International Business Machines? Which company offers you great food besides chicken, Kentucky Fried Chicken or KFC?

If you go with your own name or a name combo for your team, then an acronym can be a great stand-in that’s easy to remember and spell. You can also use acronyms for other branding uses (assuming you keep the same font/color and style) you use for a brand mark, or for a domain name. So if your name is Kelly Smith Realtors, you can get a domain like KSRrealty.com.

Even if you don’t plan to use an acronym for your real estate name, make sure yours doesn’t connote anything lewd or tasteless. Franklin, Upland, Clark, and Kinsey might sound very stately and old money outside your law office, but uh …

5. Keep Your Geographic Farm Area in Mind

Real estate company names that work, work for the people you want to sell real estate to. It’s that simple. What good is an amazing name (The Dandy Warhols) if your clients don’t like it?

That means sitting down and figuring who your target clients are and what they need, want, and like is crucial to coming up with a name they will respond to or even tolerate.

Are you working in retirement communities in Boca Raton or selling old warehouse spaces to hipsters in LA’s Arts District? As you can imagine, those two companies should have two very different names if they want to reach the right audience.

Related Article
Real Estate Farming: How to Become the Go-to Agent in Your Neighborhood in 2022

6. Choose Real Estate Company Names That Can Scale With Your Business

The difficulty, of course, is that as you grow as an agent or brokerage, you will naturally want to expand your farm area. So before adding your current farm area to your name, ask yourself where you think you’ll be selling five years from now.

Try to come up with a name that has appeal to as many people as you can. You can even ask yourself, what would Uncle Phil think of this name? What would that hipster web developer I see at the coffee shop every morning think?

7. Come Up With as Many Names as You Can, Then Come Up With Some More

One of the least understood but most recognized aspects of the creative process is that the good stuff often sneaks up on you. You could struggle for days and days locked in a room with your co-founders and come up with nothing but crap, only to have the perfect name pop into your head in the shower. Welcome to the life of a creative!

According to the latest neuroscientific research into creativity, this idea actually has some merit. They’ll tell you that three elements need to come together for creative thinking: you must be in a relaxed state of mind, have an excess of dopamine, and be in a position to be easily distracted.

While this might lead some to believe they need to be in a warm bath with a glass of chardonnay to come up with a great real estate name, the reality is a bit trickier. Whatever you do, don’t skip the brainstorming sessions necessary to the ideation process! Get all your ideas up on the whiteboard. It’s a crucial step down the road to success. Only then will you be in a mindset where the good stuff just comes to you.

8. Shorter Is (Probably) Better

Apple. Google. Chase. Ford. Shenyang Hanking Hotel Management Company Limited. While all five of these are indeed real company names, it should be fairly obvious, if not intuitive, which ones work better. That’s because generally speaking, when it comes to branding, shorter is better.

As a general rule of thumb, any name over three words and 10 syllables starts to sound a little bit off. Of course, what you name your business is entirely up to you—just don’t be surprised when your agents and customers come up with a nickname for your too-long company name. Because pretty much no one says they just bought a new MacBook from Apple Computer Incorporated. It’s just way easier to say “Apple,” which is why Apple shortened its name to just Apple Inc. in 2007.

Real Estate Company Names: 5 Tips From Experts

We asked seasoned agents and brokers for their approach to choosing a real estate company name in a digital age. You can learn from their wisdom and experience so that your name choice will stand the test of time and become a great foundation for building your brand.






Next Steps: Building Real Estate Company Names Into Brands

Once you’ve put in the sweat equity to come up with a great name, the next step is to start crafting a brand around it. That means working with a designer to come up with a great logo, slogan, and some taglines that represent your brand well.

If you have a few more minutes, check out our Best & Worst Real Estate Logos article here, and then our Best Real Estate Slogans and Taglines article for more inspiration.

If you’re building a brokerage, check out these articles from 27-year industry veteran Sean Moudry’s series on how to build one from the ground up.

Need more inspiration but short on time? Check out this excellent TED Talk from Jonathan Bell, Managing Director of Want Branding below. He covers what makes great company names tick in less than six minutes!

Your Turn

Has this guide helped you come up with a bulletproof real estate company name? Still have burning questions or just want to bounce some ideas off our team? Let us know in the comments.

The post 89 Creative Real Estate Company Names (+ Our Name Generator 2.0) appeared first on The Close.

]]>
https://theclose.com/real-estate-company-names/feed/ 32
107 Best Real Estate Slogans & Taglines (+ Slogan Generator) https://theclose.com/real-estate-slogans/ https://theclose.com/real-estate-slogans/#comments Tue, 20 Jul 2021 10:00:32 +0000 https://theclose.com/?p=1428 Effective real estate slogans and taglines define your brand and communicate your real estate value proposition in four words or fewer.

The post 107 Best Real Estate Slogans & Taglines (+ Slogan Generator) appeared first on The Close.

]]>
Effective real estate slogans and taglines define your brand and communicate your real estate value proposition in four words or fewer. When it comes to personal or team branding, powerful real estate slogans can help companies stand out in a crowd. Sure, your logo was designed by a pro, your website looks amazing, and you toiled over your latest business card. But how much thought have you given to real estate slogans or taglines?

The amazingly talented agents, teams, and brokerages on this list have differentiated themselves with some of the very best real estate slogans and taglines for 2022. Review our favorites and test our handy slogan generator to find real estate slogans that work for your brand and market.

Try Our Hyper-Local Real Estate Slogan Generator

Real Estate Slogan Generator - Hero Image in article

You asked, we delivered. Click below to access our brand new real estate slogan generator to generate dozens of unique hyper-local real estate slogans with one click. All you need to do is input your area and the year you launched your business. Our generator will deliver real estate slogans to match your brand.

Hyper-Local Real Estate Slogan Generator v. 1.0

Warning: The slogans produced by this generator were created by our team, but it is up to you to verify trademark status.

107 Best Real Estate Slogans & Taglines

Dolly lenz real estate slogan1. ‘Client Focused. Results Driven.™

Dolly Lenz

In the world of New York City real estate, Dolly Lenz stands alone. Sure, there are a ton of “million-dollar” brokers strutting down Park Avenue staring at their iPhones, but Dolly Lenz has been doing it longer and better than all of them.

As you might imagine, her real estate slogan is about as good as they get. She manages to convey both her team’s dedication to clients as well as their passion for closing. No easy feat, especially in four short words.


Halstead 2. ‘Move to What Moves You’

Halstead

Along with their new (and amazing) rebranding, Halstead has some creative and effective real estate slogans. From the “Our Agent of Change Will Move You” tagline in our featured image to “Move What Moves You,” it’s abundantly clear that Halstead took the time, energy, and money to build a brand that will last as long as Halstead has.

With their new branding, Halstead is walking the same fine line between timeless luxury and up-to-the-second Instagram-worthy cool that characterizes so many great brands today.


Long and Foster real estate slogan 3. ‘Defined by Service & Expertise’

Long and Foster

As the country’s number one independent brand (by sales volume), Long and Foster’s reputation in the market is undoubtedly one of their greatest assets.

As far as taglines go, “Defined by Service & Expertise” perfectly sums up the ethos every great real estate brokerage should aspire to.

No matter which side of the transaction you’re on, service is your primary role and expertise is what makes you good at it.

Like Dolly Lenz, Long and Foster managed to sum up the core values of a brokerage in just four words. If you think that’s easy, try it sometime.

[Related Article: The Best & Worst Real Estate Business Cards of 2022]


Town and Country Real Estate The Hamptons 4. ‘The Power of Deep Roots’

Town and Country Real Estate Hamptons

Let’s face it. Local knowledge is important to be successful in any region of the country, but in places like New York’s Hamptons, it’s absolutely crucial.

That’s why with 65 years of combined East End real estate experience, Town and Country Real Estate Hamptons highlighted their local roots in their tagline. It just works.

On other hand, as deep as the upper crust roots of the Hamptons go, it’s still ostensibly a relaxed beach town. Albeit one with a Gucci store. That means a softer edge than the hard-charging Manhattan real estate cliche makes perfect sense here.

That’s why I love T&C’s other tagline: ‘The Hamptons Are Our Boardroom.” It manages to bring together business acumen and the laid-back vibe a beach town offers vacationers.


Partners Trust (Pacific Union) real estate slogan 5. ‘Local Real Estate / Marketed Internationally’

Partners Trust (Pacific Union)

While it seems like this tagline might have gotten lost in Partners Trust’s recent merger with Pacific Union, I’m still keeping it on our list.

Why?

Because it’s great. Once again, we have a very simple, but very pointed messaging that speaks precisely to what a brokerage listing eight- and nine-figure California mega mansions does better than your run-of-the-mill franchise.

Since so many buyers are outside the country, this tagline manages to not only give a nod to owners looking to cast a wider (and smarter) net, but to foreign buyers as well who feel their needs are being addressed.


Dusty J Baker 6. ‘Santa Barbara’s Premier Real Estate Professional’

Dusty J Baker

This isn’t really a tagline per se, but we like Dusty around here and there’s a good lesson to be learned from using a declarative factual tagline for your brand.

Basically, if you’ve got it, flaunt it. If you’re your city’s or even your neighborhood’s premier real estate professional, what better possible tagline would you want to associate with your brand?


Ben Cabellero homesusa.com 7. ‘Realtor Marketing for Homebuilders Made Easy’

Ben Cabellero, homesusa.com

When your market is multibillion home builders like Toll Brothers, your taglines need to spell out what benefits you’re providing them. In Ben’s case, he boiled it down to what every single corporate bigwig wants more than anything else: simplicity.

Massive companies are almost always bogged down by complexity, so coming right out and offering them an incredibly valuable service that’s easy is an offer almost too good to resist.

This might be part of the reason Ben Cabellero was recently named the Realtor to be added to the “Guinness Book of World Records” for most homes sold in one year, and astonishing 3,556 homes closed last year!


Sothebey’s International Realty 8. ‘Luxury Real Estate: Redefined’

Sotheby’s International Realty

As one of the planet’s premier luxury brands, Sotheby’s International Realty wisely decided to keep one foot in tradition and one in the future with their real estate slogan.

After all, with cryptocurrency, home automation, and a truly global market, luxury real estate is changing rapidly—and dramatically. Smart companies keep up and adapt, while those unwilling to change perish.

Faced with tech-centered startups like Compass, dodging and parrying with the times is crucial for luxury brokerages today.

[Related Article: How to Get Listings: 21 Luxury Listing Agents Spill Their Secrets]


Raj Qsar 9. ‘Our Passion Is People. What’s Yours?’

The Boutique Real Estate Group

Another Los Angeles startup, Raj Qsar’s The Boutique has competitors that might make lesser brokers run for the hills (just not the Beverly Hills).

In order to help his brokerage stand out, Raj focused on branding that is friendly and accessible but still ticks all the boxes that well-heeled homeowners and buyers need from their agents.

Their real estate slogan manages to convey their dedication to service but also highlights their focus on relationships rather than deals. An attractive proposition for people who may be less than excited to work with your typical stuffy luxury brokerage.


Saunders 10. ‘A Higher Form of Realty’

Saunders & Associates

Heading back to the Hamptons, we love Saunders’ real estate slogan, which they proudly include along with their logo as an integral part of their brand.

With a concierge-like service and an insider’s grasp of Hampton’s culture, Saunders hits all the marks with this slogan.

By the way, if you’re thinking of swiping it, don’t bother. Saunders had the foresight to trademark this slogan years ago. One of the perks of being in the business for a long time.


New Story 11. ‘A Home Changes Everything’

New Story

Founded by Y Combinator Alum Brett Hagler, New Story builds homes for those in need around the globe. Amazingly, New Story promises that every penny of your donation will be used to build homes.

With support from DocuSign, Sotheby’s International, and Better Homes and Gardens Real Estate, New Story has enough real estate bona fides to go along with their slogan to make this list.

Since you all witness the joy that a new home brings your clients — imagine how much joy a new home might bring to someone without adequate shelter.


Better Homes & Gardens Real Estate 12. ‘Expect Better’

Better Homes & Gardens Real Estate

Sadly, when it comes to real estate, the bar for customer service quality is set very low. In many cities, the number of mediocre or even dishonest agents and brokerages sometimes outnumbers the good ones.

“Expect Better” speaks to that issue, and even adds an aspirational element for people who had just OK experiences with other brokerages. What if your real estate experience could have been even better?


Ryan Serhant 13. ‘Sell It Like Serhant’

Ryan Serhant

Leave it to New York City real estate wunderkind Ryan Serhant to come up with the catchiest of real estate slogans. It reminds clients not only of an immensely popular movie, but one of the most famous people on the planet, to boot.

Sure, this is not technically the Serhant Team’s slogan or tagline, but it’s so snappy that it might as well be. Will you be able to watch or even think of this guy for the next few months without “Sell It Like Serhant” running through your head?

It’s like a catchy TV jingle without the music. Now that’s good branding.

Speaking of, what about a buyer’s agent team or book on buying homes called “Buyin’ with Ryan”? 😎

[Related Article: Exclusive Interview: Ryan Serhant on the 2020 Market & More]


Real 14. ‘Your Success Is Real’s Mission’

Real

Although it’s geared toward agents rather than leads, Real’s slogan does a lot right. It’s short, easy to remember, and manages to sum up Real’s commitment to agent growth, a rarity in the virtual brokerage space.


EXP 15. ‘The World’s Fastest-Growing Cloud-Based Brokerage’

eXp Realty

Having achieved a market cap of $1 billion in 2018, there’s no question that EXP has been successful.

Having a great real estate tagline that reflects their rate of growth lets consumers and agents know who they’re dealing with. After all, high-split virtual brokerages need to continually recruit new agents to make the numbers work. Looks like EXP is doing that quite well these days.


Halton Pardee+ Partners 16. ‘We Are Life Changers’

Halton Pardee+ Partners

Having risen from a humble background to become the number one sales team in Los Angeles and number two team in California, Halton Pardee founder Tami Pardee knows a thing or two about changing lives.

That’s why I love that they’re using this tagline for their branding efforts online. What better way to help change someone’s life than counsel them on getting a great new place to live?


Exit Realty 17. ‘A Smart Move!™

Exit Realty

Considering the exponential growth Exit has seen in the past few years, it’s no wonder they have a great slogan.

It also works on two levels, which is the holy grail of sloganeering.

Hiring an Exit agent is a “smart move” and it also implies that your physical move itself will be “smart” if you’re working with Exit. Perfect.


Greef Properties Christie’s 18. ‘Where It Counts’

Greeff Properties Christie’s

South Africa’s Greeff Properties slogan hits the nail on the head. Instead of vague references to skills or passion, they just went with “where it counts.”

The reference here can be that they have skills where it counts — or an even more direct message that your home is where it counts.

Either way, it’s a three-word real estate slogan that packs a punch.


Elika 19. ‘The Better Way to Buy Real Estate’

Elika

Simple, straightforward, and memorable. What’s not to love about New York City luxury Brokerage Elika’s tagline?


The Noble Black Team at Douglas Elliman 20. ‘Extraordinary Reach. Extraordinary Results.’

The Noble Black Team at Douglas Elliman

As one of the most successful luxury teams in Manhattan, The Noble Black team takes branding seriously. After all, their prowess at branding and marketing is a big part of the reason their well-heeled clients hire them in the first place.

But why reach? Simple. When you sell properties on this level, the net you cast for leads needs to be global. It does take extraordinary reach to find the right buyer for a one-of-a-kind trophy property.


ELLIMAN real estate slogan 21. ‘Ask Elliman’

Douglas Elliman

Short and sweet, this tagline for Elliman’s 2017 advertising campaign also managed to sum up the primary value add they offer luxury buyers and sellers.

It also does an excellent job of humanizing a historic luxury brand that to some might seem stuffy and unapproachable. Inviting people to ask questions brings their brand back down to the human level.


WARBURG 22. ‘Integrity, Intelligence, Innovation’

Warburg Realty

Playing with alliteration generally either works or doesn’t, and in the case of Manhattan luxury brokerage Warburg’s slogan, we think it works perfectly. Also note the order of the words here. They represent the core values of the company and are organized from most important (integrity) to least important (innovation). Luckily, these words also sound better in this order as well!


Compass real estate slogan 23. ‘A Real Estate Company With a Purpose’

Compass

While they may have strayed from their original vision for democratizing the rental market in New York City, Compass has always tried to leverage their technology more like a tech startup than a real estate brokerage.

Like most tech companies, they’ve generated one of the best real estate slogans to align with their brand. What exactly that purpose is might have morphed over the years, but it’s still a pretty good branding move.


west and main 24. ‘You Move Us’

West + Main Homes

Sometimes taking a well-worn cliche and flipping it on its head can pay dividends. In the case of Colorado brokerage startup West + Main Homes, playing with the double meaning of “move us” to turn it into something more emotional makes for a memorable slogan.


bond real estate slogan 25. ‘Love Where You Live’

Bond New York

Summarizing the end goal that everyone has for moving houses in the first place, New York City’s Bond Real Estate hit the nail on the head with this short and sweet slogan.


coldwell banker 26. ‘Fulfilling the Dream of Home Since 1906’

Coldwell Banker

While it’s a bit on the wordy side, we still love this tagline from Coldwell Banker’s 2018 rebrand. “The dream of home” evokes warmth and comfort, which they manage to add their historic roots to by adding “since 1906.” This one really ticks all the boxes we have for a great tagline.81 More Slogans—With Less Commentary


81 More Slogans—With Less Commentary

For those of you hungry for more taglines, we’ve compiled a lengthy list of suggestions from top real estate experts around the country. We hope they inspire you in your quest for the perfect phrase that’ll encapsulate your unique service offerings and value proposition.


Bringing It All Together

Real estate slogans function as more than just your elevator pitch – they’re your elevator DOOR pitch. When you have one second to convey your message, you need to make those few words REALLY count. What are you going to say? What message do you want to send?

The real estate field is crowded with professionals trying to stand out and rise above. All these pros have crafted solid, memorable feathers for their identity caps. What color is your feather?

Over to You

What did you think of our list of the best real estate slogans and taglines of 2022? Know a great team or brokerage with an impactful real estate slogan that belongs here? Let us know in the comments! Looking for more real estate tips? Check out our 29 Clever Real Estate Marketing Ideas for 2022.

The post 107 Best Real Estate Slogans & Taglines (+ Slogan Generator) appeared first on The Close.

]]>
https://theclose.com/real-estate-slogans/feed/ 413