As much as being a modern estate agent is about technology and marketing, it's also about good old solid business practices too.
Topic of the day today is setting goals for 2010 - and mapping out how to achieve them. It's something we do for PropertyADD every December.
I like us to have a good mix of goals for the year, whether they are financially, brand, R&D, operations, customer or personally driven.
Some are as SMART (Specific, Measurable, Achievable, Realistic, Time-bound) as possible. Others are merely outlines of directions we'd like to head in.
The important thing is to have a road map of:
- Where you want to get to
- How you expect to get there
- What obstacles you might encounter along the way and what help you might need
- The benefit of achieving the goal
Most businesses will already have financial targets for turnover and profit. For estate agents, some other ideas for goals might be:
Set targets for numbers of valuations, instructions and completions
Be specific. Allocate targets for individual branches and members of staff. Use historical data to set realistic expectations for conversion rates and build a profile of the types and locations of properties you would like to sell so you have a plan for going out and winning the business.
Plan to evaluate and use new marketing techniques
Investigate using Twitter (follow us). Set up a blog like this one and post something interesting a couple of times each week. Set a budget and sign up to pay-per-click advertising with Google, Yahoo and Bing search engines. Consider a listing on estate agency directories, such as EstateAgents123.com. Look at improving your search engine rankings - if you're in the top 20, set your sights on the top 10 and put a plan in place to make it happen.
Keep in touch with your contact list by sending out a monthly newsletter. Send anniversary cards (it's too late for Christmas!).
Schedule staff training and development
Evaluate the strengths and weaknesses of your team against your plan for the year. Consider internal and external training options and tailor them to each of your staff. Training is a win-win - your staff will feel looked after and business performance will improve.
Teach them how to use social media (ask Ben Harris!). Look at what the leading agencies are doing. Join an online estate agency community and take part.
Read something motivational - like Get Off Your Arse!
Development of a particular USP
If agents in your town only list on Rightmove, market your properties more widely. There are several free property portals that you can advertise on and it needn't take any extra effort with the right property listing software. Not yet on Zoopla? Their 'super portal' coverage extends to several popular websites.
Re-evaluate your property particulars. Do buyers really want to know about telephone points and the extractor fan in the bathroom? Or would they prefer to imagine it using photos, a floor plan (people LOVE floor plans) and a high level description of the flexible layout and local area?
Define your company personality!
Consider business improvement projects
Of course, I accept that I would say this!
Set budgets and put together justifications for a new software system or an improved website. Consider an office move to support expansion or save on unnecessary costs.
Have a plan, update it and use it!
What are your goals for the coming year? Please post a comment to share your ideas.
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