We can guess your first question when you’re considering a new tech tool for your brokerage. “What is the return on investment?” With Buildout’s automation of proposals, OMs and other marketing materials, the amount of time your team saves alone will produce a positive ROI almost immediately.
To demonstrate this, let’s consider a hypothetical team at a medium-sized brokerage. We’ll use their data to illustrate how much time and money they could save with Buildout. You can use the same calculations we’ll go through below to determine the ROI your brokerage could realize using Buildout.
How long does it take your brokers to create one proposal? Our hypothetical broker spends a total of four hours creating a proposal for a single prospective client.
With Buildout, proposals are generated automatically using the information brokers enter into our property forms. And even if a broker chooses to customize every page using Buildout’s tools, they’ll create proposals in just 30 minutes––not four hours. That’s at least 3.5 hours they’ll get back to work on other proposals. In the four-hour window previously used to create one proposal, a broker can now create eight. Or, they can use the extra time to build and foster relationships that will grow their pipeline. They’ll have the opportunity to double their proposal output and potentially double revenue. When those time savings extend from one broker to many, your ROI grows even more.
Without Buildout, our hypothetical broker sends two proposals per month and has a win ratio of one-in-four proposals. The average revenue this broker gains from a closed deal is approximately $20,000. Therefore, in a year, our hypothetical broker will make around $120,000.
When this same broker begins using Buildout, they can increase the number of proposals they create per month from two to six. With the same proposal-to-win ratio and average revenue per closed deal, this broker will make three times more––$360,000––over the course of the year.
And that doesn’t even take into account the fact that your brokers’ proposal-to-win ratio could improve significantly thanks to the brand consistent materials Buildout creates. With that figured into the equation, closed deals and revenue increase even more.
Proposals aren’t the only time suck holding your team back. Most teams spend hours each month creating offering memorandums, and that time could be better spent elsewhere.
For example, let’s say our hypothetical broker needs approximately six OMs created per year and the team spends four hours on each one. That means they would spend approximately 24 hours a year creating OMs without Buildout. With Buildout, this same hypothetical team would cut their OM creation time down from four hours to 30 minutes, which would add up to a savings of 21 hours annually. And that savings will only increase as the brokerage wins more listings and creates more OMs.
Additionally, your marketing team will automatically generate collateral like flyers and brochures and digital materials like websites and emails. This frees up time in their day to focus on other valuable marketing tactics. And because the process for creating these materials will be streamlined and information centralized, your brokers won’t have to worry about property information inaccuracies.
Once your brokers are ready to take a listing to the public marketplace, how many leads will they need per property to close a deal? This number varies widely from city to city and property to property, but most brokers agree that the more leads, the better.
One of the most impactful ways Buildout delivers a positive return on investment is through document vaults. Buildout’s document vaults house your brokers’ OMs on individual property websites and prompt potential buyers to fill out a contact information form and sign a confidentiality agreement to access them. Your brokers then have an automated means of generating leads for each of their properties with no extra work.
Most brokerages report a much higher lead volume after their brokers begin using document vaults. And with a larger lead volume, you’ll be able to move properties faster and secure higher value offers.
When you add up the amount of time your team saves creating proposals, OMs and marketing materials with an increase in lead volume and the revenue that stems from those leads, it’s clear that Buildout quickly pays for itself. But don’t just take it from us, see what our customers love most about Buildout. And contact us when you’re ready to integrate tech at your brokerage.