The year 2020 will forever be remembered for the pandemic and how it changed everyone's lives. For our team and how we operate, things absolutely changed and adjustments were made throughout the year to meet the challenges of Covid-19. Yet, despite the challenges with getting everyone set up to work from home, the anxiety around the economy, and staying safe and healthy, we were able to have a very successful and productive year.

So, as we reflect on the year past and look forward to 2021, here are some of the highlights of the past 12 months.

“I can’t emphasize enough the collaboration we have with Profit Power. They are a great partner to help us navigate an industry that keeps changing. The knowledge base of the Profit Power Team and their culture makes Profit Power a great company to work with.
–Tina Eick, CFO at Coldwell Banker Weir Manuel

Executive Summary

Coldwell Banker Weir Manuel has 19 offices and over 600 sales associates located throughout Southern Michigan. They started using Profit Power in 2012 after getting feedback from other Coldwell Banker franchises on its effectiveness of Profit Power.

I remember having a conversation with John Featherston, the long time CEO of RIS Media, at a NAR Mid Year conference about fifteen years ago. I was still a new employee of LanTrax and was trying to wrap my head around the world of Real Estate Brokerages and the software solutions that serve them. I can't quite remember how it came up, but John offered some advice on how to make it in this industry which I never forgot. He said in effect that if you stick around long enough and can gain a reputation as a solid vendor that focuses on it's clients you will have long term success. Well, fifteen years later, and an ever growing list of top brokers using our solutions, proves that his insight remains true and remains a guiding principal of what we strive for at LanTrax. 

Purchasing back office software for your real estate company is not a decision to be taken lightly. Significant research needs to be taken to ensure the right decision is made. The different factors involved in making a decision on what software to choose include functionality and of course price. However, a case should be made that the experience of the vendor you choose to partner with is just as much if not more an important factor to consider in making your decision. 

The following post is an excerpt from our E-Book, "Secrets to Operating a Successful Real Estate Brokerage."

No matter the real estate firm size, recruiting new associates is essential to maintaining a healthy brokerage. Although smaller brokerages generally have less turnover of agents than their larger counterparts, the fact remains that recruiting new agents is vital to preserving existing sales performance or growing the broker's business. Your agent's job is to sell real estate, while your manager's job is to recruit and retain.

If you are a Real Estate Broker looking to grow your business or improve your profitability then our free E-Book, "Secrets to Operating a Successful Real Estate Brokerage" is a must read.

In our last blog post we talked about "the forward thinking broker", those brokerages who don't rest on their past successes, but always are looking at ways to improve their companies. Today we expand on that idea, and write about some common ingredients of success we see in these forward thinking brokers. 

We are certainly living in unprecedented times which call for businesses in all industries to look for ways to get through the global pandemic and be ready to succeed when the economy rebounds. By having a forward thinking mindset, real estate brokers can survive and strive amidst the toughest challenges.

It's the time of year when Real Estate companies review their technology tools and make decisions on what is needed for the new year to improve sales and productivity. Back Office Software is no exception to this rule. If you are evaluating your Back Office software and are considering a change, here are a few questions you should be asking: