HomeMerriam-Webster calls a broker 'one who acts as an intermediary' or 'an agent who negotiates contracts of purchase and sale'. However, when starting a real estate brokerage firm, you should realize the problem with limiting yourself to this definition. The ability for an agent to make a business out of acting as an intermediary or negotiating for clients usually depends on his ability to have superior information about the property, market, and parties involved. The internet is making what use to be privileged information about the market and home values available to almost anyone.
To be a successful broker in the information age means competing on more than information by offering services of extra value to clients. Here are a few ways to do that.
Service Quality
Through high quality service, you can lessen the pain, stress, and uncertainty of home sales and purchases for your clients. This can be through both the official services you offer clients and the unofficial help you let them know they can ask you for. If you make service a priority, clients should increasingly refer your firm, giving you a marketing advantage. Then, with more potential business coming in, your firm will be less likely to feel pressure to negotiate lower fees for clients.
The Right Deals
If you can hone your ability to find the right deals for clients faster, you will can cut down on the time and cost of working with each. For example, if you show one fewer home to each client (saving one hour), and do this 50 times a year, you have earned a week's vacation. If you can manage to show fewer homes per client and put the time saved into additional relationship-building, you may be able to show clients a type of brokering that they haven't seen before, letting you rise above the pack. The lesson is that quantity is not quality when it comes to the options you present your clients.
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