Viewing by month: September 2010

The importance of team building in your real estate agency

Getting your staff to become more productive and profitable can be a tricky task to manage.  Whilst productivity is the essence of what makes businesses competitive, it can be difficult to achieve if you do not have the correct management style or office environment to begin with.  Through team building, synergy, trust and drive for efficiency can be built into a workplace.

It can be argued that one of the most important roles of a team is to collectively generate innovative ideas orientated towards improving upon products, department structures or revising new attitudes, mentality and view points within the office. This process of innovation cannot be pressure cooked, as time and space is often needed to cultivate creativity.  The ultimate way to encourage growth within your CENTURY 21 Franchise could be to encourage team building exercises to draw out such creativity from within your staff.

Belonging to a team results in a feeling of being a part of something larger than yourself; teams can help staff to understand the mission or objectives of an office.  In a team orientated environment you are encouraged to work with fellow colleagues to produce a common goal.  Even if you have a specific job or function within the office, team building is about making every person feel a part of, and as though they contribute to, the larger picture – the success of your real estate franchise.

Executives, managers and staff members universally explore ways to improve profitability and staff retention. Many view team based structures as the best design for involving all employees in the workplace. Several suggestions of team building include corporate trivia, cooking experiences or games. 

No matter what you call your team-based improvement initiatives, you are ultimately striving towards continual improvement of real estate sales and your office environment.  If your team building programs are not living up to expectations, this self-diagnosing checklist may help explain why:

- Clear expectations - Do team members understand why the team was created?

- Context - Do team members understand how such team building exercises will help the company obtain its communicated business goals?

- Commitment - Do team members feel the mission is important, and if so do they expect recognition for their contribution?
If an individual's thoughts and actions aren't aligned with those of the organisation, both may suffer.  The importance of team building revolves around creating synergistic teams of individuals whose goals are in alignment with the organisational ideas and structure of which they are a part of.
Team building is considered by some as being a simple and fun way of improving staff motivation, retention, profitability and excitement within the office.


0 comments | Posted by George Tarbey on 30/09/2010 at 1:04 PM | Categories:

Knowing what your agency stands for

As a real estate franchisor you spend a great deal of time building up your business.  You put in the hours and effort to establish and cultivate solid client relationships and you start to hire like-minded real estate agents and office staff to work with you.  Eventually your franchise gains standing and respect within the community and the number of properties your agency has successfully sold grows.

However what good is any of this hard work if the glue holding the business together is your own presence as the owner, rather than your agency representing a culture where your team understands what it is the organisation stands for? 

In order for your real estate agency to operate as an integrated, co-ordinated and consistent company, your employees should understand how the business they work at is superior to competitors and as a whole are able to communicate this to various stakeholders, such as clients, prospective clients, local community organisations and (where appropriate) the media.

For the public, the essence of any company is only as good as that which is conveyed to them by a staff member they have come into contact with.  An unpleasant phone conversation with a bored receptionist? Although it may seem harmless, such an event could have serious repercussions for the real estate franchise.  And the occurrence of such a conversation may indicate that your receptionist does not understand, or would prefer not to work within, the culture of your company. 

It is up to you as the leader of your real estate franchise to educate your staff not only on what it is that you believe your real estate agency does truly well, but also to encourage them to personally be a part of it.  Acceptance and embracing of your company culture will come across in your employees’ attitudes towards their work and in their relationships with other people over the course of their business dealings.   

Remember it is these employees who will be representing you and your real estate franchise’s name in the field.  And this isn’t just on the job, as people generally tend to discuss their occupation and daily working activities in social circumstances.  If your agents and office staff truly believe in your agency’s abilities and what it stands for, then employees could act as advocates for your business.  However if this is not the case then you may have potentially just lost a table full of potential clients.

It can be quite a balancing act, however it is important for employees of any organisation, not just a real estate franchise, to have a comprehensive understanding of what the company stands for.  This will ensure that clients have a pleasant experience not only with the agent selling their home, but also with the person who answers the phone when they call.  Educating your staff will also help them to gain a respect for the company, which should come across positively in their work. 

 


0 comments | Posted by George Tarbey on 13/09/2010 at 12:28 PM | Categories:

Knowing what your agency stands for

As a real estate franchisor you spend a great deal of time building up your business.  You put in the hours and effort to establish and cultivate solid client relationships and you start to hire like-minded real estate agents and office staff to work with you.  Eventually your franchise gains standing and respect within the community and the number of properties your agency has successfully sold grows.

However what good is any of this hard work if the glue holding the business together is your own presence as the owner, rather than your agency representing a culture where your team understands what it is the organisation stands for? 

In order for your real estate agency to operate as an integrated, co-ordinated and consistent company, your employees should understand how the business they work at is superior to competitors and as a whole are able to communicate this to various stakeholders, such as clients, prospective clients, local community organisations and (where appropriate) the media.

For the public, the essence of any company is only as good as that which is conveyed to them by a staff member they have come into contact with.  An unpleasant phone conversation with a bored receptionist? Although it may seem harmless, such an event could have serious repercussions for the real estate franchise.  And the occurrence of such a conversation may indicate that your receptionist does not understand, or would prefer not to work within, the culture of your company. 

It is up to you as the leader of your real estate franchise to educate your staff not only on what it is that you believe your real estate agency does truly well, but also to encourage them to personally be a part of it.  Acceptance and embracing of your company culture will come across in your employees’ attitudes towards their work and in their relationships with other people over the course of their business dealings.   

Remember it is these employees who will be representing you and your real estate franchise’s name in the field.  And this isn’t just on the job, as people generally tend to discuss their occupation and daily working activities in social circumstances.  If your agents and office staff truly believe in your agency’s abilities and what it stands for, then employees could act as advocates for your business.  However if this is not the case then you may have potentially just lost a table full of potential clients.

It can be quite a balancing act, however it is important for employees of any organisation, not just a real estate franchise, to have a comprehensive understanding of what the company stands for.  This will ensure that clients have a pleasant experience not only with the agent selling their home, but also with the person who answers the phone when they call.  Educating your staff will also help them to gain a respect for the company, which should come across positively in their work. 

 


0 comments | Posted by George Tarbey on 13/09/2010 at 12:28 PM | Categories:

What is 'CSR' and how can it benefit your business?

It can be said that the social expectations of how corporations run their business operations are slowly changing.  Whether it is the local butcher or a global investment bank, the public is increasing the weighting it places on a business’ contribution to the community when it comes to forming an opinion of the company and making a decision about whether or not to interact with it.

The concept of Corporate Social Responsibility (CSR) is one that encourages organisations to manage their business processes in ways that positively contribute to and impact on society.  While the overarching aim in implementing a CSR strategy should be the notion of doing good and giving back to society, such a plan can also have positive effects on both your business culture and bottom line. 

The process of setting a CSR strategy is similar to that which is followed when implementing a marketing or sales program.  The first step is to sit down and analyse the various opportunities available to your company.  In the case of a real estate franchise, this may be to identify various local organisations (such as a sporting team) or community events you would be interesting in sponsoring.  It could also include internal policy changes that may be applicable to your agency, such as committing to only using recycled paper or reducing your carbon footprint.  

With a clear understanding of your target opportunities, your real estate franchise can then put together a clear strategy which outlines the timing of your tactics, and how your goals can be measured. 

With your CSR strategy in place and while resting in the knowledge of your positive social contribution, your real estate franchise may also start to realise some tangible business benefits. 

For example, in general, socially responsible businesses have been seen to have a higher level of staff retention, as staff tend to enjoy working for company that gives back. 

Your CSR strategy may also help to enhance your relationships with local governments, community organisations and members of the public, as there is an appreciation for your input into the community.  This could lead to new business with the potential for new listings.

Your CSR strategy could also serve as a significant point of difference when differentiating your real estate franchise from others in the local business area.  Your socially minded approach could be the only factor separating you from another real estate agency which clients may look to when considering who to sell their home. 

In the end, being a socially responsible real estate franchise has wide reaching benefits.  Not only does the community enjoy your support and contribution, your real estate business may also be better off. 

 


0 comments | Posted by George Tarbey on 10/09/2010 at 11:57 AM | Categories: