29 – The Broker Owner Experience: Broker Profitability Matters

Chris believes that where our passion for our business intersects with our desire to be heroes to our clients lies our opportunity as entrepreneurs to be rewarded handsomely for our efforts. This is not a magic formula however. If it were, many of us would be very well off indeed. Profitability requires focus, structure, a set of proven processes, and intentional execution.

Our business plan is deceptively simple. It is designed to offer our agents and clients superior experiences not regularly obtainable in the market, at a competitive if not premium price. In short, we offer superior value. Chris’s goal is to offer our broker owner partners and franchisees superior value as well.

A ROOST Real Estate Company or Lucky Town Real Estate Company franchise is neither the least expensive nor the most expensive. However, our fees are transparent and straight-forward. There are no surprises and no hidden charges. We work with our partners the same way we want you to work with your agents and clients. If you know what to expect, you can plan and budget for it.

Profitability is influenced by how we manage our income and expenses. Managing cash-flow is also critical to the success of a real estate brokerage and its ultimate profitability. 

Chris is passionate about teaching our broker owners to manage their cash-flow. Some need no assistance. For most, however, budgeting, forecasting, and managing cash-flow are not core competencies. A significant portion of our broker owner training program, (The Self-Managing Brokerage), is devoted to just this topic. We also provide ongoing support and access to additional resources as needed.

We suggest that our partners utilize QuickBooks online to manage their accounting and provide tailored access to staff members. We provide our franchisees with a chart of accounts specific to running a ROOST or Lucky Town brokerage. We also offer The Cash Flow Forecaster™, built on an excel spreadsheet, to help project and manage expected income and expenses into the future. 

We help build revenue with internet marketing strategies designed to grow our three main lines of business. We have The Agent Attraction Strategy discussed previously in Part 2, as well as dedicated programs for attracting property management clients, and of course buyers and sellers. We utilize search engine marketing, blogs, our continuously evolving websites, and various social media platforms to reach our target audiences. It is possible that these techniques were responsible for introducing us to you, a potential future partner.

Next up, The Broker Owner Experience: Managing Revenue and Expenses

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