Using technology & systems to make a successful business

If you were at the Real Estate Staging Association (RESA) Convention this year, you should have had one very powerful takeaway.  Systems and technology are the key to having a successful home staging business. As home staging is effectively a subset of the real estate community, I thought some recent studies might shed light on exactly how important this is.

Inman News recently reported that high income real estate agents (earning over $100,000 per year) lead the pack on technology. According to their survey, high income agents work longer hours, close more transactions, work with higher priced listings (about a third averaged closings over $450,000), update their websites several times per week and spend more on technology.  Nearly half said they spend approximately $2500/yr on technology, while one quarter said over $5000/yr.

As for social media, on average, agents making over $200,000/yr also stated that they updated their social media sites daily.  Virtually all agents in both upper and mid priced ranges had facebook and twitter accounts, though the number of “friends” or “likes” increased with success level.

Data provided by Join 215,590 Real Estate Agents on the world’s largest Real Estate Social Network.

So, what can you glean from this information? Social media, technology and time spent working can make the most difference in creating a sustainable income, or just a little extra pocket change. It’s not just Inman News either.  Active Rain showed a similar set of statistics (seen in the infographic above).

So, what do you do to follow the lead of the top real estate earners?  Listen to the lessons from RESA. Invest in systems that streamline your processes, like Market Ready & Darby, work your center of influence by using a contact management system like Stagers Business Builder.  Plan on working more hours, including engaging in social media in a deep and meaningful way.

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