2018 DNA of #CRE preview: Brokers’ biggest challenges and opportunities
Earlier this year, we partnered with theBrokerList to gather results for our annual DNA of #CRE survey.
Brokers in firms of all sizes all across the country shared their insights with us on what makes them successful and what they think would make them more successful, as well as what they expect for the future of CRE.
Here’s what brokers viewed as their biggest challenges and opportunities in 2018:
Relationships still drive a broker’s success, but they’re not spending most of their time building those relationships.
Brokers largely believe that relationships are the biggest factor for winning new business, and have since we began conducting the DNA of #CRE in 2015.
However, building those relationships is not necessarily how brokers spent most of their time. We found that brokers and their staff evenly split their time between administrative tasks, marketing tasks and developing relationships.
Brokers feel the CRE industry is lacking an MLS, a good database, and affordable data-sourcing.
In open responses, brokers told us they want a multiple-listing service (MLS), a more straight-forward CRM or database for CRE professionals, more affordable and effective data sourcing, and universal integration across their tools.
It’s clear that brokers want new tools and technology to help them with their day-to-day work––especially software that is user-friendly and affordable.
Maximizing exposure and reaching target market groups has consistently been brokers’ most significant challenge since this survey began in 2015. Implementing tools that help achieve these goals can be a major opportunity across the CRE industry.
Brokers also indicated using technology is the least challenging aspect of their job. This proves that brokers recognize the power of technology to solve some of their greatest challenges like data entry and maximizing exposure.
What else did we learn about brokers with the 2018 DNA of #CRE survey? Find out more about the tools brokers use and how they feel about the future of the industry by downloading the results infographic now.