As we stand on the cusp of a new year, real estate agents across the United States are gearing up for the challenges and opportunities that the new year presents. This offers brokers a key opportunity for connection, mentorship and guidance in annual business planning exercises. Whether this is accomplished through group sessions, one-on-one mentorship, or virtual training and resources, assisting your agents with establishing obtainable goals and developing a measurable path for success plays a big part in your annual recruitment and retention efforts. I work with many brokerages each year in the development of strategic annual planning programs. Below are my tips, tricks and strategies for brokers looking to stand out from their peers and serve as true servant leaders.
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Preparing for a Strategic Planning session involves a process of gaining a holistic view of the organization. Understanding your customer’s perspective is always the primary driver that informs everything. But understanding of staff culture and capabilities; system strengths and limitations; financial conditions; and industry trends pave a path to developing a plan that works. At the end of the day, the board of directors and the management team agree to a group of initiatives that will make the business stronger, and the strategic plan is born. Some organizations in real estate take the plan and execute it flawlessly where others [...]
WAV Group conducts more subscriber satisfaction research for MLSs than anyone else in the country, including our industry first Customer Experience Index. We have a depth of understanding of the key drivers of satisfaction and perceived relevance for MLS organizations. Here’s the 5 key opportunities for improving your MLS’ satisfaction and relevance as you move into 2023: Go TO Your Members Create a Field Support/Training Team There is NOTHING that drives up customer engagement and satisfaction for MLSs more than a team of customer servants that go out into the field, attending office meetings, broker events and community events. These [...]
Trends are a numbers game. The bigger the data set, the better the answers. That is exactly what the WAV Group Customer Experience Index (CXI) is producing — great answers. WAV Group has fielded hundreds of surveys over the last two plus decades. As consultants, we have been able to, over the years, garner insights from previous surveys that help inform current clients. However, what the industry was missing was the ability to stack results side-by-side and understand true areas of strength and opportunity, not just in local markets, but for MLS organizations nationally. But data is only as good [...]
Here at WAV Group, we invest a lot in business intelligence. Business intelligence is a broad term that can mean a lot of things. We define it as a 360-degree review that combines the collection of information from a variety of sources, then benchmarked against peer groups.
Years ago, after the acquisition from Brookfield, WAV Group collaborated with a team at Pacific Union to take a historical snapshot of the brand from the eyes of the consumer and the agent. We identified that the local, boutique essence of the Pacific Union brand had been eroded over time by efforts to grow through recruiting anyone and everyone.
There is a saying that goes, “The squeaky wheel gets the oil.” From a repair perspective, that is a good rule to follow, but far too often organizations let the “squeaky wheel” drive important strategic decisions that affect the future direction of the MLS or association. I have seen this happen many times first-hand while creating hundreds of strategic plans for organizations over the years and as an advisor for the Louisiana's broker-owned MLS, Greater Southern MLS. While customer feedback and interviews play an important role in understanding your challenges, as leaders on the board of directors, or in the executive offices, it is crucial that you temper what you hear with real numbers. WAV Group’s Customer Experience Index (CXI) is the first industry wide standard collecting and comparing numbers for MLSs across markets.