Once upon a time, these authors, Jason Jennings and Laurence Haughton, wrote a book in 2000 entitled It’s Not the Big that Eat the Small..It’s the Fast that Eat the Slow. Within these 262 pages, the authors share how fast has become the competitive advantage. I was reminded of this book when I read this title and lead in summary sentence from Real Estate News:
“Where small brokerages have an edge over the giants.”
Any large or giant firm including real estate brokerages cannot historically move quickly because the larger the firm the larger the bureaucracy. Small regional and independent brokerages do not have as much bureaucracy and can move much faster.
During times of real estate market upheaval the regional and smaller real estate brokerages do have a competitive advantage especially if the culture is conducive to sharing ideas from its agents. Additionally, the broker has made a commitment to:
- Understand the ongoing changes in the real estate industry from local to national
- Navigate this ever changing landscape
- Educate her or his professional real estate agents
Now, there are obviously potential disadvantages from compensation reimbursement to opportunities for ongoing education to greater market share through name recognition.
In this book, the authors have only four chapters with each chapter identifying specific business strategies to be faster. For example, in Chapter One "Fast Thinking" requires anticipation, the ability to spot trends, using the “Grinder” for ideas to accepting the best idea win. Chapter Two looks to “Fast Decisions,” while Chapter Three is all about getting “to Market Faster.”
Chapter Four describes “Sustaining Speed.” This is my favorite Chapter as I can personally relate to many of the strategies such as: “Play Your Own Game,” “Don’t B.S. Yourself,” “Stay Close to the Customer,” and "Adapt Improvise and Overcome.”
Here at DIRT ROAD REAL ESTATE, I have found that being small is truly a competitive advantage. First, I do not have to have “seat time” as many the real estate agents experience within larger brokerages. The professional real estate agents at DIRT ROAD REAL ESTATE work from their home offices. We have the flexibility to leave on short notice. As all real estate brokerages here in AZ are required to have a policy handbook, the agents are not over burdened with additional responsibilities,
Leadership through Judith Ritter (now semi-retired) and Elise Harron (now the designated broker and owner) respect the independence of each real estate agent while still holding consistently high standards. The culture is not one where one feels like it is feeding time for the sharks at the zoo.
One of the professional real estate agents, Cheryl Robertson, at DIRT ROAD coined the phrase “work family” as some of the agents, myself included, truly dislike the concept of real estate teams. This phrase “work family” aptly expresses the culture at DIRT ROAD REAL ESTATE.
For those who read this blog, they will see the following hash tags that reflect the culture at DIRT ROAD.
#LetsGetBackToRealConversations #WeDoThingsDifferently
To have real conversations means investing time to actively listen and respond to potential sellers and buyers. Being able to do things differently allows for quick decisions to recognizing and quickly implanting necessary changes.
Finally, leadership in any organization from the solo-entrepreneur to the small business to the giant corporations establishes the organizational culture. What I hear from my clients is DIRT ROAD REAL ESTATE is responsive, ethical, hardworking and maintains trust from day one. For me being able to pick up the phone, call my broker and know I will get a return call quickly is essential to ensure policies are maintained to confirming knowledge about current real estate market changes. Here is one reason why smaller is faster.
YES, I absolutely agree with the authors,
“it’s the Fast that eat the Slow.”
Leanne M Smith, The Grit and Gratitude Agent Who Goes the Extra Mile Because Life Begins Where the Pavement Ends.
Feature Photo Courtesy of Pixabay.com
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