Major Franchise Groups Win Favour
As the property market continues to soften, the advantages of being part of a well-recognised, global real estate franchise become hard to ignore.
Global real estate companies like Harcourts are constantly progressing in terms of technology, training and marketing which makes it hard for the smaller groups to keep up. In this market, it’s almost impossible to succeed without the structure, systems and technology that a major company can provide.
Real estate groups can no longer rely on the booming property market. In this market it is training, ensuring you have brand equity in terms of recruitment, exceptional tools and systems that will ensure success.
Furthermore, I believe that being part of a major franchise provides an added advantage when recruiting quality staff and clients.
People are attracted to the larger brands, ones they trust and are seeing the benefits that come with being part of a global organisation. It’s becoming increasingly difficult for independent and state-based businesses to offer staff and clients the same benefits as the large global franchises.
The industry has seen many highs and lows. We have lost a significant number of agents this year and although it is unfortunate, when this occurs what we need to ask is why. Were they poor performers who would never succeed in a changing market; did the offices they were employed in downsize or close down?
Everyone in the marketplace is an expert and when we work in a changing marketplace the pool of recruits decrease. Those that do enter will be looking for businesses that will invest in training, technology, systems, culture and leadership.
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