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All Hands on Deck – Staying One Step Ahead of the Local Competition

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By Paige Tepping

RISMEDIA, May 17, 2008-There are many advantages for real estate companies for having the right real estate team in place. One of the more popular ones, however, is the idea of better managing one’s time. Whether it’s with company meetings or working with clients, Judson Henderson, broker of record for Henderson Sotheby’s International Realty says the team approach allows everyone to share the responsibilities and creates a good support system in which everyone has each other’s back. Here, read how Henderson’s team approach keeps his company ahead of the competition.

henderson_judson.jpgJudson Henderson
Broker of Record
Henderson Sotheby’s International Realty
Princeton, New Jersey

Region served: Central New Jersey, primarily the Princeton area
Years in real estate: Since 1992; full-time since 1996
Number of offices: 2
Number of agents: 60 licensees; 50 full-time agents
Average sales price: $1,046,283
Average time on market: 4 months

Best tip for running a successful meeting: Keep it short. We have an outside speaker attend each of our meetings to keep the discussion topics interesting, in addition to going over our inventory and talking about regulatory items. At least one agent is picked from the team and congratulated during each of our meetings as well.

Key to working together as a team: We are bound by a serious and sincere ethical standard. Once everyone gets this standard and is aware of the relationship-building process that is important in this business, everyone works together to achieve this common goal.

Best tip for dealing with difficult customers: Getting rid of the line between our agents and our customers has allowed us to have a much better working relationship with those we are helping. We recently developed an Internet site that gives our customers the opportunity to take a peek at what we are doing. This gives our sellers the chance to actually see what they are paying for.

What are your best strategies for dealing with the slower market?
Our affiliation with the Sotheby’s International Realty® brand has been a huge advantage for us. Sellers need an agent as well as an agency that can position their home differently than other real estate companies, and the resources that we have allow us to do this for our sellers.

What is your best tip for time management?
Having the right team in place is the best way to effectively manage your time. The team approach allows everyone to share the responsibilities and creates a good support system in which everyone has each other’s back.

What are two fundamentals that you feel are essential to your company’s continued success?
Dedication to fairness and intimate market knowledge are the foundation of Henderson Sotheby’s International Realty. Our focus on these two things has led to continued success over the years.

What is your company’s best competitive advantage over other real estate companies in your area?
The combination of our Sotheby’s International Realty network affiliation, being a third-generation, family-owned company, and our local knowledge of the real estate market has all added to our competitive advantage.

How do you determine your marketing spend and how does that break down between print and online?
Five years ago, only 5% of our budget was allotted toward online. Today, our breakdown between print and online is 50-50.

How do you motivate agents?
Motivating agents comes from hiring agents who possess intrinsic motivation already. Everyone on the team is enthused with the amount of resources they have available, and they recognize the difference that they can provide.

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