11 ways to put a modern spin on old-school business basics

Publish Date: November 09, 2023

Written by Chris Pollinger

- Originally published at Inman News - Chris Pollinger

To get ahead, you have to stay rooted in proven practices while being ready to adapt to the inevitable change ahead, says luxury consultant Chris Pollinger. Here’s how to put a modern twist on traditional strategies.

The verdict is in — the old way of doing business is over. Join us at Inman Connect New York Jan. 23-25, when together we’ll conquer today’s market challenges and prepare for tomorrow’s opportunities. Defy the market and bet big on your future.

Real estate’s constant evolution requires us to stay rooted in proven practices while adapting to change. Often, the whirlwind of daily operations can disconnect even veteran agents from the core activities essential to producing dollars. 

It’s important to take a step back, and, if need be, recalibrate to get back to basics.

My team believes a mix of traditional and new methods — a revival of reliable practices augmented with new tools and attitudes — is what will win in any market. It’s about sticking to what works and enhancing it with unprecedented precision, empathy and strategic insight.

This renewal involves not just optimizing client interactions but also adopting smart technology, reinforcing your team’s capabilities and ensuring your brokerage remains a strong competitor.

Here’s how you can put a modern twist on traditional principles while getting your team back to basics.

1. Revitalize the client experience by streamlining their journey with your brokerage

Implement customer relationship management systems (CRMs), and offer personalized services. But most importantly, understand the emotional journey of buying or selling a home. Cultivate long-lasting relationships through continuous growth based on client feedback and an obsessive commitment to improving.

2. Emphasize goal setting with a focus on SMART objectives

SMART is an acronym that stands for: specific, measurable, achievable, relevant, time-bound. Foster a culture where goals are actively pursued and celebrated, reinforcing motivation and a sense of achievement. Regular progress reviews ensure these goals remain relevant and attainable, maintaining momentum.

3. Build trust by providing exceptional value

Agents should offer unmatched market insights and serve as advisors, not just salespeople. Exceeding client expectations fosters trust, the cornerstone of enduring relationships. Consistency in this approach solidifies reputation and elevates brand integrity. It also amplifies referrals.

4. Encourage decisive action, training agents to recognize and swiftly navigate key transaction moments

This involves market fluency and anticipating client needs, bolstered by scenario-based training. Empowerment through knowledge enables agents to act with confidence and precision.

5. Cultivate high-performance habits by introducing productivity-enhancing routines and healthy lifestyle choices

Workshops on time management and organization can sustain high performance. Embedding these habits through daily practice transforms them into second nature.

6. Embrace mindfulness to boost well-being and performance

Did you know that more than half of U.S. employers offer their employees some sort of mindfulness training?

As this Harvard Business Review article points out, “Research has shown that both breath-based and loving-kindness meditation can help reduce the stress associated with emotionally charged social interactions.”

Integrate stress-reducing techniques, and create spaces for mental breaks. This will enhance client interactions and workplace harmony. This approach should permeate the company ethos, fostering a supportive environment.

7. Align business strategy with market needs

Stay informed on market trends, encourage field insights, and adapt swiftly to changing client demands. Agility in strategy execution ensures relevance and competitiveness in a dynamic market.

8. Drive innovation with data

Collect and analyze business metrics to inform strategic decisions and improve efficiency. Leveraging these insights can lead to breakthrough innovations that keep the firm ahead of the curve.

9. Master the art of storytelling to connect with clients on an emotional level

Encourage narrative skills that make properties and agent-client interactions unforgettable. This emotional engagement is a differentiator that can elevate a brand above its competitors.

10. Integrate smart technology to simplify processes and engage clients

Provide comprehensive training on cutting-edge tools to maximize their potential. This ensures that technology becomes an enabler rather than a barrier to productivity and client service.

11. Reinforce your brand and culture, making them the essence of your brokerage

Develop core values that resonate with your team and celebrate their embodiment in all operations. Visible alignment of actions with these values reinforces a strong, unified brand identity.  

The essence of thriving in real estate lies in a balanced mix of foundational and progressive tactics. By nurturing a culture that prizes client connections, decisive action, and a dedication to excellence, your brokerage thrives as a business and becomes an integral community pillar. Now is the time to invigorate your team with foundational vigor and the ingenuity that will characterize the future of real estate.

Chris Pollinger, founder and managing partner of RE Luxe Leaders, is the profit whisperer to the elite in the business of luxury real estate. He is an advisor, national speaker, consultant and leadership coach.  Learn more about his broker, manager and team leader growth programs at RELuxeLeaders.com

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