We recently caught up with Adam Stern, PSR’s President and Managing Partner of Resales. Adam attributes much of his success to the collaborative relationships he has built with over 3,000 realtors in the GTA. Adam’s goal is to offer comprehensive services to his sales associates that include the launch of an app for PSR agents: the PSR VA (Virtual Assistant).
What are the obvious tools for the successful realtor today?
Realtors rely on a website, social media, in-house training, and mentorship. They need a lead generator and SEO services. Yet these services are not provided by the traditional brokerages even though they refer to themselves as a full-service brokerage. Our business plan grew out of a stabilized infrastructure. We quickly progressed to the launch of our new app, PSR VA, which will support our sales associates within their digital marketing platforms. We look for realtors who want to grow a business. So we view all our agents as micro-businesses under PSR Brokerage. We anticipate that the PSR VA app will be an essential platform to fall back on for all the support that our realtors need.
What does a “hybrid brokerage” offer?
We’re calling ourselves a hybrid brokerage, which is an entrepreneurial platform for realtors. PSR Brokerage has office headquarters and a digital presence for our sales associates and their clients. The difference between us and our competitors is that PSR offers a unique entrepreneurial platform digitally while also operating in the traditional workplace environment. There are digital brokerages without office space, which is not how we operate. This is why we’re calling ourselves a hybrid platform that straddles the old principles, with new tactics. In other words, we have a brokerage where a realtor can operate out of a modern, high tech office space. We also have a platform where all of our services are available digitally and exist natively on the PSR VA app. PSR is really built to scale now.
How does PSR Brokerage support entrepreneurs aka PSR micro businesses?
PSR offers sales associates different streams of revenue that help structure each associate into operating as a business, not a salesperson. We will provide all the digital marketing for our agents, as PSR Brokerage is the brand. We have in-house branding, marketing, and creative content. All the things that realtors need to market themselves digitally are done in-house. Agents will not have to outsource to build a website or their social media presence which is how much of the brokerage ecosystem works today. At PSR, we think full service really means full service. And we don’t think that that exists today in our marketplace.
How is the PSR VR going to be an indispensable application?
This comprehensive app is available to PSR agents and brokers only. PSR VR app is a two-way communication tool. Every contract and document will live on this. The agents can track a deal, and follow through to the closing dates. Each realtor will know if there’s any missing documentation. It all lives on the app. So their whole back end is at the palm of their hands via smartphone or laptop. We believe that agent’s businesses are on the go while the brokerage services have never been on the go, so we seek to accommodate our agents in their day to day operations.
Is PSR reaching out to entrepreneurs looking to expand PSR Brokerages?
We’re all growing into specific locations in the GTA. We hope to be in a lot of smaller areas over the next 24 months, so we hope to be seeing more PSR offices around the city.
Adam, thank you for sharing your insights into PSR’s expansion through incentivization, guidance and enhanced marketing tools for your sales team. PSR agents are uniquely enabled to remain independent and entrepreneurial while having the benefit of PSR’s market presence. This will resonate well with those considering their options and potential impact within the real estate sales industry.