Today’s “Ask the Expert” features Charlie Young, President and CEO with ERA Real Estate.
Q: How can real estate professionals stay relevant in today’s changing real estate market?
A: Change is constant. And while homeownership remains an important goal for the majority of Americans, dynamic changes in the real estate industry have transformed how we do business, from the Internet to IDX, from smartphones to Facebook.
In the face of such change, remaining relevant has never been more important. Whether you are a brand, a broker or an independent sales associate, relevance is critical to your bottom line. Here’s what I’ve learned about how to position a business for success.
1. Have a blueprint. Throughout my career, I have always done my best work when I’m building something. Here at ERA Real Estate, we have been building on the foundations of the brand to maximize growth for our brand and our brokers, and bringing the brand to the next level. It’s been a carefully thought-out plan with a clear objective, an overarching strategy and specific tactics.
2. Engage your customers. Collaboration is part of our DNA and it has been since our founding. When I first joined the brand, I spent a lot of time visiting our customers to get their feedback on what I called the “stop, keep and start” tour. That feedback has been invaluable from a feet-on-the-street perspective, but it has also served to create strong connections that allow us to remain relevant to our customers.
3. Avoid window dressing. Today’s sophisticated, informed, tech-savvy real estate professionals know window dressing when they see it. To that end, we have focused on the things that can propel growth, like harnessing the power of today’s technology advances, tapping into mobile marketing and optimizing lead generation. We have created extensive professional development opportunities, expanded our one-on-one business consulting and provided local market support for mergers and acquisitions—all of which have supported growth for our brand, our brokers and our agents.
4. Refine your value proposition. Being relevant means constantly focusing on your value proposition and being able to clearly articulate the value you bring to your customers. Every day, we work to make sure that our customers are better off with us than without us.
Through the introduction of many new brand programs, we have effectively renovated ERA Real Estate from the inside out, culminating with the introduction of a new brand identity. Our modern, contemporary identity aligns with and reflects all of the dynamic changes we have introduced to keep our brand fresh and current.
Change is constant, but it is also exciting. As the real estate industry continues to evolve, focus on staying relevant to the next generation. At ERA Real Estate, our legacy of innovation will inform everything we do to ensure we remain relevant.
For more information, visit www.era.com.