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This post was updated May 25, 2023.
You can’t really “decide” to be successful in real estate. You can, however, decide to make smart business decisions. Make even more more of those than bad decisions, and you’ll likely be in the business for a long time. The margin is that thin.
And it all starts with choosing the right brokerage.
If you’re lucky as a new agent, your broker doesn’t emulate a “butts-in-seats” business model in which they just play a numbers game with agents they pluck out of licensing class. Some will make it, some won’t. A lot of brokers play the odds and hire accordingly, leaving new agents to fend for themselves and providing outdated tech tools and sales resources.
What you want is a place with a mentorship model, an open culture under which you can learn directly from others, where the broker meets with newbies regularly to discuss finding business, evolving industry trends and tips on how to get over the many bumps always there to tip you off course.
Certainly, you’re learning about technology along the way, too. Talk about overwhelming … and expensive.
But it doesn’t have to be either of those things, especially if you start small, choose the right mix, and commit to it. Here are some tips on software products Inman recommends for the new agent or the seasoned professional who’s just now coming around the modern marketplace.
Lead generation
Don’t pay (directly) for leads. Not yet, anyway. Understanding how to find and land business is crucial to success in real estate. In some ways, you’re always paying with your time, but it’s critical to learn why some seemingly solid leads don’t pan out. It’s valuable to know who should get your time and attention as you grow. So don’t over-automate; learn what it takes to get eyeballs on your brand and turn them into clients.
Also, check out Inman’s Handbook on Digital Lead Generation.
Addressable
Addressable has a high rate of success with its direct mail tools because of its rapid creation of “handwritten” postcards and web-based tracking mechanisms. The company uses a robot and artificial intelligence-based copywriting to devise compelling postcard campaigns. It’s terrific for broadcasting listings and attracting new ones. The company also has a new tool called “Listing Architect” that leverages that AI to rapidly build out regionally-specific landing pages for your listings.
ProspectsPlus ‘ThreeClickPostcards’
Like Addressable, ProspectsPlus blends the web with print to make producing effective lead-gen campaigns a snap. In fact, you can do it in three clicks.
Simply snap a picture of a new listing, or upload artwork, from a phone or tablet and add the property address into the system, pick a postcard size and template, add an agent photo and company information, and edit the content. Lastly, choose a quantity and send to your target market. ProspectsPlus assembles the mailing list and handles all the logistics.
Adwerx
Ever wonder how agents are publishing those ads on the websites you visit? Well stop — they use Adwerx.
This online marketing technology company has been around a long time, and is largely focused on real estate. While it’s expanded into an array of industries, that was because of the success it had helping agents sell homes and find new clients. Ads can be linked to custom landing pages, delivered to specific people in your database and make great tools for showing off to sellers. You can start small if needed, and it’s much easier than you think.
Ylopo
Few companies in the space blanket organic lead-generation tactics better than Ylopo. They blend social media advertising with exceptionally specific search engine optimization to drill down to who and where you need to focus your attention.
Lead nurture and management
Once you find them, you need to land them, and then you need to keep them. This means using a customer relationship management (CRM) solution. No category in proptech is more diverse or over-supplied than this one, so we’ve included a few options ideal for the agent who doesn’t need every campaign automation or AI-based reminder system out there. These offer plenty for the buck.
If you don’t love what’s below, here are some smaller CRMs with the right tools for success.
Cloze
Cloze has long billed itself a “sphere of influence” CRM because it builds its tools around making who you know pay off, but even high-quality leads need to be converted into clients. Failing to do so is often a result of how well the agent can address the needs of the consumer, and that often comes down to the quality of the initial relationship.
Cloze has implemented a powerful new feature that analyzes exactly that, placing leads in front of the agent they have the best relationship with. It works with any of the number of paid and earned lead sources Cloze connects to, and that list is long.
LionDesk
Sure, it’s now owned by one of the largest names in proptech, LoneWolf Technologies, but LionDesk was built on affordability and the individual agent. And because of its ownership, when you grow, you’ll have an array of powerful additional technologies to readily explore.
LionDesk offers a number of tools new agents need to stay in touch, from text campaigns, Facebook ads, power dialers, pre-built campaigns and even transaction management. It’s light, easy and time-tested.
Cinc
Once known as “Commissions, Inc.,” Cinc maintains a lot of the sophisticated sales technology that larger competitors do, but it offers a tiered account structure ideal for the dedicated new agent. As you grow, they’ll be there with more resources.
Business productivity
While it’s essential to understand the underlying business practices that software helps you with, for some aspects of the business it’s simply better to have technology handle things.
Formations
This elegant, simple and powerful financial assistance tool is ideal for the new agent who doesn’t have an interest in paying an accountant or bookkeeper or handling such tedium on their own.
Formations can help set you up as an S Corp, manage your books, reduce your tax liability and proactively oversee every dollar you have coming in and out of your business. It’s designed specifically for independent contractors with a growth mindset.
Courted
Courted is an app built to help agents help each other. It’s a regional networking tool that has recruiting elements, mentorship components and champions agent success within the community.
For lack of a better descriptor, Courted is a networking tool. But its smart use of market data, and deep analysis of 15 years of transactions across the country gives it a very unique take on who you should be working with to better ensure success. After all, a deal can only get done if both sides do what they’re supposed to do.
Courted may seem like a tool only for accomplished agents, but knowing what its members did to get where they are will only help you recognize what paths to take.
Agently
The user experience begins with a simple setup of personal details and a financial goal. Of course, don’t go overboard here — be realistic on what you want to make, knowing that in real estate, success begets success. With that income figure plugged in, Agently runs its algorithms against your market’s average prices, deal volume and other stats to show the user how many leads are needed and deals have to close to reach their goal.
The information is presented in a succinct, engaging summary with progress bars, performance reports and a host of daily, categorized tasks to accomplish. Sure, everything is easier read than done, but an important byproduct here is that you’re not spending time wondering what has to get done. The software comes with a Canva-like social media library of templates and content, all created within the company.
With Agently, you’ll always have something to do to help you grow.
BoxBrownie
Truth is, not every listing demands professional photography, especially when you have companies like BoxBrownie out there,
The Australian media company established the “quick-turnaround” image editing model, and built it into a multi-faceted digital marketing resource. Its newest app, SnapSnapSnap, can make the clumsiest iPhone photos look darn close to professionally produced. BoxBrownie also does virtual staging, exterior enhancements like twilight lighting and curb appeal upgrades, as well as create floor plans and video tours.
All of their services are affordable and done through a simple web interface or mobile upload. They make it fast, and the results speak for themselves.
This list could be 5,000 words or more. But as we stated up top, selecting technology is already overwhelming enough.
Always be conscious of your budget, your time and most importantly, your clients. Don’t spend more time trying to create ways to make business easier than creating business. Choose software incrementally as profit dictates.
