Team Development in Real Estate

A well developed team has the potential to contribute in a huge way to the success of your business. When a team knows its strengths and weaknesses, is aware of it's expectations and has the resources and knowledge to achieve these, then this team can be your greatest asset.  Like houses though, good teams need the foundations and maintenance to maintain your investment. 

How to acheive this?

Give your team clear expectations

A team, just like an individual, needs to know what it is expected to deliver. Communicate expected outcomes with your team, be clear and informative.  By relating this information to your team you are delivering their most powerful resource - knowledge.

Talent Recruitment is Key in the Property Market

During an economic downturn, companies often overlook the importance of a solid talent recruitment strategy. This is not the time to become complacent. An effective team will be your important weapon in your fight for survival.

As a result of the downsizing that's going on, a growing pool of qualified, talented people is available on the market. Organizations have the opportunity to thoroughly screen and assess candidates to ensure appropriate skill level and corporate culture fit. Pinpoint the key competencies that you require in your management team. Clearly define your requirements. Incorporate behaviour based interviews, rigorous reference checks and work samples into your talent recruitment strategy.

First Home Buyers a Dying Breed

Australian Bureau of Statistics (ABS) Housing Finance figures for March show that, in trend terms, the number of commitments for owner occupied homes fell by 4.1 per cent, compared to the previous month.

“This is the ninth consecutive month of falls in housing finance. We are now down to the levels of the global financial crisis in 2008”, said REIA President, Mr David Airey.

“The decreases in lending were across the whole spectrum of established and new dwellings and across all states and territories”, added Mr Airey.

The number of first home buyers, as a percentage of total owner occupied housing commitments, decreased to 16.1 per cent in March 2010, compared to 18.1 per cent in February. This is the lowest for some five years, and compares to the long-run average of 20.1 per cent.

“The rapid decline in the number of first home buyers is a major driver in the decline in overall finance commitments. Each month it looks more and more like first home buyers are a dying breed,” continued Mr Airey.

“It is time for the Reserve Bank to stop the spiral of continuing interest rate increases”, concluded Mr Airey.

Source: The Real Estate Institute of Australia (REIA) 

 

For information on Growth Strategies to strengthen your Real Estate Business, visit Rema at www.rema.net.au.