Adapt To Changes To Be A Successful Real Estate Agent
As we evolve, so do the way we do our work. Change is inevitable not only in life but in business too. As long as the people and the technology are progressing, so should the businesses around them.
Businesses that do not adapt to their environment tend to slow down and ultimately die. A classic example is Nokia. The rapid demise from being the world’s best mobile phone company to losing it all by 2013 has become a case study discussed in many business management classes.
In a world dominated by digital transformation, we should not continue to operate with the old mindset which will not help us face customer changing behaviour.
I have witnessed the change in real estate industry over the last two decades and I have seen many Real Estate Agents fell out of their business. Many of them were slow or even refuse to change the way they conduct their business. They did not adapt to the changing environment so the competitive edge they offer to their customers was gone.
One of my first agents who has more years of experience than me wanted to bring their business to another higher level. I advice them to change their business model by focusing on getting exclusive listings and become a listing agent. I also made a couple of changes to their branding and prospecting methods. Their sales immediately doubled in the first year and grew by another 3 times the next year. And after that, they clocked more than $1 million in commission for consecutively 3 years in a row.
I myself was forced to change several times over the last twenty years. Consumer behaviour changes and the competition are getting stronger each year. My co-founders and I saw the inevitable trend of innovative technology in our business so we started to invest heavily in an app call Navis Connect in 2013. Today this app is renamed Link Up and it is one of the best Real Estate Agent app in the industry.
Watch this video to find out how this app has helped many Real Estate Agents excel in their business.
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So if you don’t want to be obsolete or left behind, work on your ability to respond to changes. Embrace changes, it is the only constant in life. Choose a positive attitude. Your mindset will decide how you respond to the change and whether you are able to adapt to it.
Think about how you have responded to changes in the past and you realise that a positive attitude can improve your response to changes.
Life can be difficult to navigate in our fast-moving world so just go with the flow.
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To Your Success,
Gary Chua
Gary Chua is the co-founder of Navis Living Group
—A 1300 agents-strong division with Huttons real estate agency and the fastest growing group in this competitive industry. Gary is also a mentor to many real estate agents and team builders, for two decades and counting.
Before devoting his work full-time to grooming realtors, Gary was himself a distinguished real estate salesperson. He first stepped into the industry at age 30 in Year 2000 and having been Top 50 Achievers in his 5 years of sales, he understands the hurdles and challenges facing both new and experienced agents, and is thus equipped with a wealth of knowledge to aid and teach the property agents whom he takes under his wings.
In 2005, Gary realised that his true calling was to groom and coach the next generation of real estate agents. It was also the year that he consciously diverted almost all of his time and effort into recruitment activities, putting his personal sales aside and taking a hit in his bottom line.
Through sheer grit and determination, Gary's vision took hold as his team expanded, eventually growing to become the largest division in its agency, and also one of the largest in Singapore. It cultivated numerous top producers and achievers throughout the decade—some of whom have clocked in more than S$1,000,000 in commission in a single year, broken many sales records, won many local and international awards, and helped many real estate agents achieve outstanding results and realise their financial freedom.