When it comes to business planning and measuring performance, real estate brokers often focus most of their effort on developing the sales side of their businesses. Revenue growth, albeit a very important metric, is only one indicator of overall business performance. There are other key metrics that should be tracked ongoing to effectively inform business strategy and be set up for long-term success. For some, this can be an overwhelming process as they are unsure what to track and how.
In order to run a profitable Real Estate Brokerage, one needs to know and understand the metrics involved in running one’s business. One of these metrics, which we consider to be the most important metric, is the GROSS PROFIT PER REALTOR (GPPR) metric. This metric is critical to obtaining your Gross Profit per Realtor Objective (GPPRO).
As seen featured in the latest issue of REM Magazine...
GryphTech, a real estate data and franchise software firm, has entered the North American brokerage market with iBroker back office management software.
Are You Using Spreadsheets to Manage Your Back Office?
If so, have you considered the opportunity costs of doing so? For a growing brokerage, using a tool like Excel to manage office finances and administration may not only be inefficient, but risky too.
Integration to bring disparate technologies closer together is becoming an ever-more-popular trend as consumers come to expect increasing ease and fusion in their lives.
Don't be small. Think BIG!
Advice for Managing a Real Estate Office
Download the free Broker Insights Collection eBook to discover ways to overcome common challenges facing North American Brokers today and improve growth potential. The eBook is authored by seasoned industry professionals with decades of experience helping real estate companies - big and small - succeed.
There’s so much to love about running a real estate brokerage: You can use whatever business model you wish, hire according to your standards, service the clients you choose, decide what tech tools to leverage, and even decide (within reason) when you’ll make yourself available for work.
iBroker, the simplified back office management solution for real estate, announces it's latest software integration - dotloop.
Dotloop provides a single end-to-end solution for real estate brokers and agents to more efficiently complete, share, and sign documents, as well as monitor and manage the entire real estate transaction process. With this integration, iBroker users can access real estate transactions based in dotloop through a single click, improving workflow efficiency between the applications and eliminating the need to double enter transaction data into both platforms. Together, iBroker and dotloop offer real estate brokerages an easier, more streamlined approach to managing their back office and financial needs.
Indie or franchise? There are reasons to go either way as a broker -- but if you’ve decided to establish yourself as an independent broker, then having the freedom to choose how you’ll operate, hire, market and bill as a brokerage is probably important to you.