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How do you run a profitable real estate business while keeping sales agents productive and motivated? This is probably the most interesting question that every Filipino real estate professional, who runs a brokerage, has. After all, a real estate brokerage is in the business of selling properties, and if the sales team that comprises it does not perform their best, there’s no way they could succeed in today’s thriving real estate environment.
This guest post from RE/MAX Philippines offers four tips for running a successful real estate business.
1. Recruit and Retain Top Talent
Salespeople are the backbone of any real estate brokerage. Without them, there’s no way a brokerage can be successful. In order for this to happen, a real estate brokerage must recruit and retain highly performing salespersons: those who are driven to excel and exceed their previous performance. But this is easier said than done.
With RE/MAX, owners of real estate brokerages are offered regional training classes to assist them to identify and train the best recruits. The brand is also structured so that owners can offer the highest possible compensation to their sales associates. In fact, in the United States and Canada, RE/MAX is known as the home of top sellers. But most importantly, the brand’s main objective is to help every real estate professional succeed.
2. Develop a Team of True Professionals
Developing and keeping sales professionals requires ongoing motivation and advanced training. RE/MAX has perfected and initiated the most extensive motivational and advanced training system in the industry called the RE/MAX University. Busy salespeople further their education and designations without having to attend classes or seminars in faraway venues.
3. Minimize Overhead Costs
Running a business also means burning cash to finance overhead costs. While these costs are important to make the business successful, business owners are constantly finding ways to at least reduce them.
RE/MAX has created a unique solution to controlling overhead costs for broker/owners. In addition, RE/MAX offers regional training programs to educate broker/owners on a profitable business.
4. Be Competitive in a Constantly Changing Industry
With the constantly changing real estate industry RE/MAX continues to be the leader by continually creating and developing innovative programs to maximize the success of its affiliates. RE/MAX has a strong online presence in various social media networks and has different I.T. platforms to help RE/MAX Affiliates stay ahead of the competition.
All these are important to be competitive and successful in the Philippines, a market widely considered as Asia’s newest investment darling. With real estate buyers and investors looking into the country as an attractive market to park their assets, they will be needing the assistance of true real estate professionals to help them make informed decisions—something RE/MAX is well positioned to provide.