3 Reasons Reporting Analytics Are Imperative for Brokerages
Real estate is a numbers game and because of this, it is imperative for brokerages to have the data they need to determine where their brokerage is succeeding and in what areas they can improve. BrokerSumo offers back-end support and analytics at a brokerage level, so that firms can see firsthand what is affecting their bottom line.
Here are three reasons reporting analytics are imperative for brokerages.
You Know Exactly How Your Brokerage is Doing
Analytics and reporting will give you hard data to show you how your brokerage is performing and which agents are your top producers and which bring you the most monetary value. This knowledge will assist you in managing your brokerage and your agents more efficiently.
Being able to pinpoint which brokers aren’t producing up to par, gives you the opportunity to work with these brokers to help them improve their business and their sales tactics. You can see a breakdown of the amount of deals each broker closes, the agent expenses, sales volume, office commissions, net office revenue and more.
You Can Plan for the Future
Having concrete details on every broker and every deal allows you to plan for the future and determine how many deals and sales you will have the coming quarters based on past data. This will help you budget your firm’s expenses and plan for any downturns in the market that may affect your bottom line at the end of the year. Actionable data allows you to think smarter about what is best for the future of your brokerage.
Make Better Decisions
Knowing exactly how each of your agents is performing can help you pinpoint who the top producers and leaders are within your brokerage. This information can help you pair up experienced brokers with newer brokers or brokers looking to increase their sales, which will ultimately increase your brokerage’s bottom line. You can make better decisions about what your brokerage is spending money on and what you can cut back on as well.
Also, this information can be useful if you are curious about the details of a specific deal, because you can see every single number involved in the transaction with BrokerSumo’s software in order to assess further. Every decision that you make will affect all of your brokers, so you want to have all of the information possible in order to make informed decisions that have the best interest of your brokerage.
The Bottom Line
The real estate industry relies on information and data to constantly improve the sales process and increase the bottom line of brokerages. BrokerSumo offers you an in depth look at the data driving your brokerage’s success and gives you insight into exactly how your brokerage is performing, and more importantly, why it is performing a certain way.
Sign up today to start your free 14-day trial. BrokerSumo was designed for real estate brokerages that need an easier way to manage their office and their financials.By Jeremy Shoenig Filed in: 222
Tagged: , accounting, BrokerSumo, commissions, Inside Real Estate
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