Home services offerings beyond real estate sales have the potential to achieve long-term sustainability and stabilization for real estate brokerages. However, undermining this potential for enterprise brokerages are disparate technology solutions that do not seamlessly connect or share consumer data. As a result of this and other factors, many consumers do not take advantage of enterprise brokerage home services offerings because they do not know that they exist. This is a massive, industry-wide problem that does not have a simple solution. In 2013, WAV Group will be working with brokers to design specific strategies and business practices to improve the effectiveness of delivering home services to consumers effectively and efficiently.
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The objective of this paper is to provide an overview of the challenges of generating incremental revenues and profits derived from successful home services offerings. Because the blend of home services offerings are so varied, there is not a magic process that can be built and followed every time. The enterprise resource plan must be refined and adopted differently to suit each individual company, culture, and marketplace. Thus, our goal in this paper is to provide a high level strategic thesis rather than a specific tactical roadmap.
Key Findings
- Brokers require a number of operational and executional adjustments in their business to drive effectiveness and improve results
- Property and Customer record data sources are broken into disparate silos that do not talk to each other. Moreover, those records are stored in third-party data systems rather than the broker’s data system.
- The required analytics to support the brokerage varies greatly in sophistication from reporting and measurement, and there is a bleak absence of predictive modeling and sales optimization.
- Many organizations do not have the internal skills or time to perform.
Brokers today are under tremendous competitive pressure. Those that improve business process and home services penetration this year and in the years ahead will have a significant market advantage. Please download this complimentary paper and we invite you to give WAV Group a call or drop us a note to inquire or discuss any further details that may aid you in your business success. Download the report here!
