As a broker, do you often wonder how your business stacks up compared with your competitors? In today’s challenging real estate environment, every dollar counts, whether you’re a one-shop operation or a franchise with multiple locations. MAR has partnered with Real Estate Profit Navigator™ to bring members a web-based software application designed to help brokers and office managers get a clear picture of their company’s financial health through analysis, benchmarking, business modeling, and company valuation. It is an extension to brokers’ back office software.
Specifically, Real Estate Profit Navigator™ allows brokers and managers to compare their firms to other companies at the national and regional levels via Murray Consulting’s Company Valuator and exclusive licensing of REAL Trends brokerage performance data. This performance-driven tool can determine the value of a firm, set benchmarks, and possibly identify circumstances that could improve the bottom line.
The software imports brokers’ detailed financial and productivity data, and condenses these data into key ratios, financial statistics, and measurements that demonstrate office-to-office comparisons on a month-to-month, quarter-to-quarter, year to year basis.
While it is hard to forecast, especially in this market, this tool’s functionality can take some of the uncertainty of business planning. It includes a business modeling capability that allows brokers to create hypothetical “what if” scenarios to forecast the impact that specific changes would have on their company’s financial pictures.
At the local level, this Web-based tool also allows brokers to import financial data and detail a brokerage's financial strengths using the following parameters: profitability (income, expenses), productivity, staff ratios, square footage ratios, fall through, occupancy, advertising, salaries, commissions, fees, core services, expenses, and much more. Brokers of multi-office firms can compare side-by-side or office-to-office performance data and uncover opportunities for internal changes and refinements of operations.
For more information on how to purchase Real Estate Profit Navigator™ at a member discount, click here.
Real Estate Profit Navigator™ is available through Real Estate Broker Owner Solutions, a partnership between Real Estate Business Services® (REBS) and the Kansas Association of REALTORS'® subsidiary Real Estate Business Resources (REBR).