In real estate business – as in life – every new chapter of your journey reveals new challenges to strengthen and temper us. Today we present the first in our ‘Agentbox Solutions’ blog series, looking at the unique challenges which face real estate business as they develop. In our premiere edition, we unpack the key concerns for multi-office agencies on their upwards trajectories.
By virtue of being a multi-office agency, you have much to celebrate! You’ve grown in good standing across the communities you serve, expanding your network and enhancing your brand recognition. The upside of this is a sense of stability around your business – you now have the resources you need to plan into the future. The downside of being a substantial organisation can be a lack of innovation, time-consuming internal systems and a loss of momentum. Here are four ways to get the mojo back into your Multi-Office agency, keeping you competitive and agile within your market.
Agree to Disagree
Sometimes, multi-office agencies become management-heavy. Regardless of your business structure – franchise or independently owned – multi-office agencies can sometimes by stymied by having too many decision makers. They stop making critical decisions about their brand because they simply can’t agree. As a result their branding becomes stale, their technology gets old, and they become part of the old guard in the public eye. This is a dangerous place to be. So: agree to disagree. Create circuit-breakers within your management team that allow for decisions to be made, regardless of accord. What can you identify needs updating in your multi-office agency?
A Lack of Accountability
Having a multi-office network means you’ve got a lot of moving parts in your organisation. That’s a hallmark of success, and well done! It also means you have a task on your hands when it comes to performance management. This is where your CRM comes to the fore: are you using a single database across your network? Or are you still making decisions based on barely accurate data produced by a variety of technology? If you are using the same CRM, does it allow you to easily take an up-to-the-minute snapshot of your team’s activity? A great CRM empowers your management team with both a micro and macro understanding of their business – from their agent’s prospecting phone calls made each day, to projected versus actual earnings. This makes every office and every team member more accountable, and thus closer to reaching their professional and personal goals.
Having multiple offices means being a voice in the market. But what kind of voice does your agency project? Is it consistent and impressive, or does every agency within your network have its own take on your branding and collateral? Multiple voices in your customer communications can denigrate your overall impression as a business. Make the right impression and work to standardise your marketing activities. This can be done immediately by committing to sharing a CRM and producing professional marketing for yourselves, and your clients. Your CRM should be able to swiftly produce quality newsletters, SMS campaigns and brochures that maximise your brand across every location.
Multiple-office agencies lend themselves to multiple administrators and multiple internal systems. This duplication of administration means time-burgling double-handling of data, sapping hours of productive work from across your business. Having non-uniform systems also become a problem when it comes to make decisions across multiple agency locations. How can you possibly come to a consensus amongst all those random Excel spreadsheets? Save time and reduce needless administrivia with a CRM that is used across every office location.