When times are tough our business plan changes. When transactions are plentiful we are more conservative with our market area. In a good market, we can capture enough business without having to leave the town. However, when the number of transactions has decreased significantly, in order to do the same amount of business, we need to broaden our horizons!!
The problem with expanding into other areas is that we may not be as well versed on the details of those other areas as we are with our marketplace. This is a problem that has the potential of creating great liability issues.
Rather than dealing with the unknown or issues that we are unaware of, our team is comprised of agents from other towns. They are well versed in their marketplace and together, we have the ability to capture a good portion of the real estate market without having to think about what details of that marketplace we do not know!!!
Nina Rogoff is our Sharon MA connection. Nina has been a life-long member of the Sharon MA community and is ranked in the top 10 for closed transactions in Sharon MA. Lorraine Kuney is the #1 agent in Franklin MA for Franklin listings and closed Franklin transactions. The Kuney-Todaro Team with agents in Franklin, Millis and Sharon is the “#1 Team in Franklin’s #1 Office” and the way our team is structured is a critical factor in this challenging market.
Broadening our horizons by expanding our team to include agents in other areas works well for us. Each agent now has the benefit of being marketed in her own marketplace as she strives to attain the #1 position there. It’s actually an exciting time and a great way to see the value of integrating direct mail marketing and online marketing to promote a new area and new niche. Reorganization of my team was a one year process but it was time that was well spent. The results were very good. Before you venture out to parts unknown, you may want to think about creatively reorganizing your business.