President Sherry Chris of Better Homes and Gardens® Real Estate global recently hosted “The Power of 10,” webinar to discuss the rules of engagement for modern agents and generously shared her insights as a leader in the industry. Read on to explore Sherry’s advice to make the next decade of Better Homes and Gardens Real Estate as successful as the first and one you can be a part of by contacting us for a confidential conversation.
As communication channels expand, stakes get higher. Both parties need to communicate on a deeper level to deliver the intended message. Remove obstacles by communicating effectively.
As environments and social norms change, so do the ways in which adaption takes place. In these current times, consumer segments will not be statistically defined, and the best course of action may be to go back to simpler times. We are all communicating for the same purpose, making consumer segments obsolete.
The point of diminishing returns is quickly reached. Learn how to recognize the tipping point to make your business more efficient. Always look for a 10x return in every effort. Agents can create a saleable asset via expense-controlled business practices.
Predictive and prescriptive analytics will most likely influence future decision making. Predictive data uses current information while prescriptive data harnesses the power of historical input. Technology within Greenhouse such as our OppScore and Business Pipeline allow affiliated agents to gauge how close consumers are to making an imminent purchase.
While it might be the norm to hide information from other brokers, partnership is the new competitive advantage. The more you share, the more you receive back, which will always strengthen the industry. Let’s raise the bar together.
- Culture and values
Culture and core values are business assets when actions are done with the highest good for all in mind. They are the growth strategy in which to invest. Create a culturally aligned office. The goal is to network and communicate at a deeper level. Decide on what you stand for and stick by them.
- Alternative models
One size no longer fits all. The time to acknowledge that and work together is now. More than half of business in the industry today is from alternative models. To create a sense of harmony, refrain from critiquing innovation and embrace differences. Find out the best practices of other models to harness potential opportunities for you.
Agents take risks and should be rewarded with profit. Owning your very own office should result in a saleable asset. To determine your goal, ask where you want to be in 5 or 10 years. Also, keep in mind that bigger does not always mean better when it comes to profitability.
Brands that give back resonate with millennials and other generations, according to our research. Sharing success with the world in a meaningful way is part of our collaboration with New Story. The charity builds homes for those in need in El Salvador with help from agents and consumers. Make it a priority to attract those that are in alignment with your values, both agents and consumers.
Agents must change with the times, rather than swimming against the tide. The industry changes at light speed and office owners must be out front, figuring out how to use strategic partnerships to see the future based on consumer needs.
Disclaimer: The opinions posted within this blog are those of the writer and do not necessarily reflect the views of Better Homes and Gardens® Real Estate, others employed by Better Homes and Gardens® Real Estate or the organisations with which the network is affiliated. The author takes full responsibility for his opinions and does not hold Better Homes and Gardens® Real Estate or any third party responsible for anything in the posted content. The author freely admits that his views may not be the same as those of his colleagues, or third parties associated with the Better Homes and Gardens® Real Estate network.