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Small Businesses Can Make a Big Splash on a Shoestring Budget

Smaller brokerages can leverage unique strengths despite lacking big-brand support.

A
s a smaller brokerage or team, you may not have the backing of a major brand or franchise, but you have unique advantages that can help you thrive. The direction of your business depends on daily decisions, and Agents Decoded is here to provide insights from seasoned pros who've navigated challenges and found success.

    Three months after "The Change" brought about by antitrust lawsuit settlements, reactions range from excitement to frustration. Large brokerages have invested heavily in training webinars, podcasts, and events, while rewriting documents and forms with the help of attorneys. Smart agents are taking advantage of these resources, but many still struggle with the same questions.

    Smaller brokerages, independents, and teams face challenges accessing funds, training systems, tech tools, and legal assistance. However, you have advantages that franchises and large brokerages don't: flexibility, agility, and a more personal approach. By focusing on agent support and community-building, you can retain talent and foster growth.

    Here are five areas where brokerage and team leaders can make the greatest impact:

    1. Prioritize skill development and mentorship by encouraging experienced agents to lead workshops, offering monthly skills focus, and establishing mentorship programs.

    2. Invest in accessible technology and resources, such as affordable CRMs, social media training, and free tools like Google Sheets or MLS offerings.

    3. Build a strong culture of support and collaboration through regular team meetings, celebrating wins, fostering open communication, and utilizing other people's work.

    4. Provide more flexibility and innovation by offering alternative commission structures, encouraging creative marketing, and establishing performance-based bonuses.

    5. Establish strong community connections by focusing on local networking, hosting community events, and reinforcing your agency's commitment to the community.

    By emphasizing connection, flexibility, and accessible resources, you can make your agents feel well-supported and engaged without needing the resources of larger firms.

Small business owners succeed with creative marketing strategies on limited budgets nationwide.