It’s hard to believe that the new year is almost upon us, and similar to this time last year, after such unprecedented change, we all look ahead with hopeful yet cautious anticipation.
As the selling season slows down with the coming of the holidays, this is the time to start planning for your brokerage’s growth in 2022. By having clearly defined strategies at the start of the year, your business can hit the ground running, straight into the springtime buying surge.
After assessing your business’s strengths and weaknesses, you may be considering some common growth tactics. You could expand by acquiring or merging with another company, amping up your recruiting efforts or widening the geographic footprint of your current business. Or maybe your footprint has been too broad, and you see the value of being a hyperlocal expert. Maybe you are in need of better agent tools and training, and you plan to research and contract with vendors to address those needs.
These are typical, and effective, growth tactics to consider, that executed properly, can yield immediate results. But is your business ready to take on these plans? It’s important to make sure your brokerage has a strong foundation in place, in order to support these changes and maintain long-lasting results.
Read on for three key pillars of a high-growth business model in the current market, and how Weichert can help.
Have values that invigorate
It’s likely not the first time you’ve heard that a business’s values should be its North Star. But don’t brush off this timeless piece of advice as a worn-out cliché. The post-pandemic world is more sensitive to authenticity than ever before. If your organization is not only aligned on but also excited by the mission and vision of the business, your stakeholders will bring a passion to the work that will draw in clients and move the needle in the market.
At Weichert, we commit to operating under a certain core value system. We’re a family-owned company that’s been built on forging personal connections and providing exceptional customer service. This focus on the customer, in turn, influences everything we do, from our 2-step Listing Process to our Open House and Buyer Consultation process. It’s all designed to put the customer first. This resonates with our affiliates, who equally value this approach. When you have a shared set of values, it creates synergy and inspires everyone to be their best. Our affiliates boost each other up, cheer each other on and hold each other accountable because they all hold true to the same values.
From leadership to staff, everyone needs to be open to the rapid pace of technological advancements in real estate. During the pandemic, we saw how, across industries, businesses that didn’t adapt were outperformed by those who adopted virtual and digital solutions. This trend will continue as we are in a fully digital world, so get everyone on board sooner rather than later in order to maintain a competitive edge.
Most businesses seeing growth have tied their success to technology. At Weichert, we offer myWeichert powered by kvCORE, an award-winning, all-in-one platform. myWeichert offers a personalized website integrated with smart CRM; AI-based, automated campaigns; auto-dialer; lead-gen tools and comprehensive reporting, all which can give your team a huge advantage in the market.
Don’t just sing the praises of these tech advancements internally. Explain the tools and resources you have at your disposal to your potential clients. Clients see that the world is changing, and it’s important that they know they are partnering with someone who not only has the knowledge and expertise but access to the latest technology to provide the best results.
However, we understand that change can be hard, especially when there is already so much to be done in everyone’s day-to-day as it is. Not only do we provide the resources and technology, but we’re here to teach you how to implement these tools so you can take full advantage of the myWeichert platform.
Write a formal business plan
Every agent should feel like they are building their own business, and part of being a business owner is having a business plan. This is the perfect time of year to connect with yourself and your team, reflect on the performance of 2021, envision what the business could look like in 2022, and plan for what’s needed to achieve those goals. Encourage your agents (and yourself) to set their goals and write their business plan for achieving them. Go further to help them identify their 30-60-90 day plan of how they can lead the business in the new year, and then hold yourself and them to it.
At Weichert, we believe so strongly in having a business plan that we encourage our affiliates to hold “Planning Days” for their agents each Fall and provide the business plan writing tools and materials to help them host events in their office to make it happen. Our Regional Directors also work with each affiliate ownership team to develop their business plans for the year, including recruiting targets and profitability objectives. When a plan is in place, everyone always knows where they stand and when they need to adjust to hit their target objectives.
As you prepare for the new year and the promise that it brings, Weichert is always here to support your planning and champion your growth. Learn more about how the Weichert system can support your brokerage and see how it’s helped others grow.