This year Bob Kennedy, Broker Owner of Berkshire Hathaway HomeServices Home Team Realty in Ocala, FL, took full advantage of the brand and the network to expand his company and get “farther than he would in our absence.” Working closely with his business consultant, Bob used a combination of the analytical tools and programs provided by network services to increase his value proposition which now competes handily with the high commission split companies prevalent in his market.
Kennedy’s growth strategy included the obvious practices of recruiting, retention, and improved agent productivity. However, a new compensation plan, a reinforcement of the positive company culture, and an expanded market reach were critical components of change to Home Team Realty’s traditional brokerage firm model. The Berkshire Hathaway HomeServices support team and Kennedy’s relationships within the network were an ongoing resource to help Bob put the puzzle pieces together.
It began with regular calls with his business consultant known as a 4DX call. In these highly focused weekly sessions, a cadence of accountability was established based on Kennedy’s most important goals of recruiting top producers and exceeding 2018 sales volume. Together they identified the internal and external resources which would help bring the entire operation to the next level.
They then conducted an Operations Review. Based on the financial analysis, Kennedy could see how he could change his compensation plan to provide more flexibility in agent services, commissions and fees. The survey portion of the report provided insight into the brokerage’s culture. Besides the appreciation of the tools, technology and training, agents expressed a high level of respect and satisfaction with Kennedy’s style of leadership. He learned how much his agents, his ambassadors, value his hands-on coaching and guidance and genuine interest in their lives and careers.
The weekly Metrix Report became a go-to tool for Kennedy. He has learned to interpret and apply the data to identify the right agents to target based on volume and the specific ways to help grow their business. Relying heavily on the best practices Bob has picked up in the Manager Performance System, along with the situational recruiting coaching from his business consultant, Bob is able to design and customize impactful recruiting strategies.
In addition to the support provided by network services, Kennedy draws on the power of the network members. He has adopted several best practices from California to Florida. He takes the time to listen to, speak with, and personally visit when possible, other business owners from companies of all sizes. A regional marketing concept, a team compensation model, and the re-purposing of his traditional office space to include a coffee bar, are just a few of the ideas he has picked up from his colleagues and put into action.
A recent resource put in place was the 2020 business plan. Based on the 2019 journey and his vision for the future, Kennedy and his business consultant identified key areas of focus and the strategies and tactics for selection, career development, profitability, and market growth. The 4DX sessions, participation in the Manager Performance System, utilizing the Metrix Reports, and the implementation of the Trends Analysis, will be used to assist Bob in achieving his 2020 WIGs.
Today, Berkshire Hathaway HomeServices Home Team Realty is on solid footing for sustainable growth and profitability. A new regional marketing approach, flexible compensation plans, an energetic culture, along with Kennedy’s proven ability to help agents grow, positions him as a preferred choice over high-split firms in his market.
To celebrate the growth, Kennedy held an offsite gathering with his agents which included a day of learning, networking, and lots of laughter. The next event is just around the corner. Celebration, along with everything else, is now a best practice for Kennedy and his home team as they keep Central Florida front and center.
Contact your business consultant to engage these resources and start your growth plan today.