December 18, 2018 at 11:06 #65290
I for one am looking forward to 2019 despite all the doom and gloom surrounding a tougher market.
We carry no debt, have cash in the bank and a handle on our costs.
Where others will fail we will prosper. Businesses need to be leaner and more competitive.
The main area business owners should be looking at now is staff. Getting them to the top of their game, if they don’t make the grade, cut them loose.
Staff are our biggest asset and too many ‘managers’ or business owners overlook this.
Increasing your spend on portals. new ‘Prop tech’ ideas will only do so much if anything at all. If you can increase the knowledge, service, relationship or salesmanship of your staff it will work out cheaper and more productive.
Do your staff know what is expected of them on a daily, weekly, monthly, quarterly and yearly basis? – If they do not know what you expect, how can they deliver it?
Are you looking to spend time with them and give them additional training, refresh them and motivate them? – Too many agencies i walk past have staff sat soullessly in front of a computer screen waiting for someone to walk in or the phone to ring, these days are over! – We need to be more interactive on a personal level to generate business and build relationships.
Don’t be fooled into thinking you need to spend more money on the business you need to start working on your business not in it.
While you are at it, look at the providers you have. Are you getting the best deal? It may have been 18 months ago when you ‘found’ them but is it now? – Start comparing service and costs.
Is your advertising working for you? Do you have a scatter gun approach and hope for the best or have you actually measured each medium? if you have not start in 2019. I can tell you when we did this we saved almost a 2k per month as a lot of what we were doing was not producing anything so we increased spend in areas that did work.
Get ruthless, its business. If you know another agent is suffering make it worse. Hit their stock, go after their staff (if they are any good).
Find a real USP – Not just we are better and show them a pie chart, buyers and sellers do not care! find something you can advertise, push it. Might be really simple out agents take for granted we all do but the public do not know about.
I really believe, next year can be one of the best but you need to prepare for it. I guarantee you this, 2019 will see a lot of agents closing. It does not have to be yours, its in your hands. Don’t just turn up at your desk, spend more money on ‘Prop Tech’ expect the staff to suddenly improve their figures. These silver bullets do not work.
Would love to hear other peoples thoughts on this. Any tips, you can give to other agents going into a tougher market and increasing business?
December 18, 2018 at 15:06 #65301
- This topic was modified 8 months ago by smile please.
A little bump so it does not get lost in the Arena and makes it to the front page.December 20, 2018 at 08:36 #65372
It is true, work smarter not harder. I have spent most of this year working on strategy and future plans. Next up is working on staff and making sure they are in tune with what we want and on board with our vision.
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