Are you and your agents meeting all of your clients’ needs? A new report analyzes the business models employed by many brokerages that offer ancillary services (also known as “home services”) and how they use them. Do these services make sense for your brokerage? This report focused on enterprise brokers, with 500 agents or more, because they usually have a relationship with a mortgage company or insurance company.
The report was given by WAV Group Inc., and can be found in its entirety here. The term “home services” refers to providing residential, mortgage, and insurance services to the consumer when speaking in conjunction with brokerages. It’s common for these same brokerages to have a settlement service and home warranty service in combination with the home or ancillary services. According to the report, these additional practices will really only benefit the brokerages of significant size because they will be able to “have enough data to profit from the harvesting practices outlined” in the report.
The full report for you shows the best data analytic and business intelligence practices by the largest banks and mortgage companies in the United States. WAV uses with their examples to show how large real estate brokerages that offer home services can show consumers and other brokerages a more competitive edge as well as be more profitable. See what these ancillary practices can bring to your brokerage; it could be just the luck you need!